The 2015-16 Operating Fund Statement reports a Structural Operating Deficit before one-time items of $7.3 million which is $0.5 million better than the approved budget of $7.8 million.
The net operating deficit after one-time items was $3.1 million, also $0.5 million better than the approved budget.
Our audited consolidated financial statement have a clean (unqualified) audit opinion by external auditors.
We implemented strategic hiring measures in 2015-16 to compensate for a 2.3 per cent decrease in enrolment and tuition revenues; this included an in-year hiring freeze for non-academic positions.
To eliminate our deficit and return to a balanced budget, UNB is:
UNB's long-range financial plan will: