Yukon University - 2018-2019 ANNUAL REPORT · 2019. 12. 20. · Yukon College will become a hybrid...

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2018-2019 yukoncollege.yk.ca 2018-2019 ANNUAL REPORT archbould.com

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Page 1: Yukon University - 2018-2019 ANNUAL REPORT · 2019. 12. 20. · Yukon College will become a hybrid university that offers a full range of programming, including trades, academic readiness,

2018-2019 ANNUAL REPORT 1

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2017-2018 ANNUAL REPORT 2

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Table of Contents1 Message from the Chair, Board of Governors2 Message from the President and Vice Chancellor3 Yukon College Mission & Vision 3 Strategic Directions and Goals 2016-20214 Yukon College Board of Governors & Chancellor4 Yukon College Senior Executive Committee, Executive Leadership Team4 Yukon College Student Union5 Centre for Northern Innovation in Mining6 Northern Institute of Social Justice7 Yukon Research Centre7 Yukon University Foundation8 Application Data

Total Application, Acceptances for Admission, and Yield Rate First Nations Application, Acceptances for Admission, and Yield Rate Direct Entrants from Yukon High Schools Application, Acceptances for Admission, and Yield Rate

9 Enrolment Data—New and Returning Students Full-time and Part-time Student Headcounts Enrolments by Program Area

9 Student Demographics International Student Enrolment Community Campus Students

10 Student Outcomes Credentials Awarded Employment Outcomes

10 Employee Data 10 Board of Governors Strategic Performance Indicator11 Financial Reports12 Summary Financial Results for the year ended June 30, 2019

2018-2019 ANNUAL REPORT

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2018-2019 ANNUAL REPORT 1

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Message from the Chair, Board of GovernorsChris Milner

It was a busy year on the Board; I stepped into the role as Board Chair and the Government of Yukon appointed five Governors to the Board - Judy Gingell, Tom Ullyett, Jocelyn Curteanu, Eric Jun Hyeok Kim and Ernest Prokopchuk.

President Barnes and her team made significant progress on conversations focused on advancing the institution through philanthropy. Future donations were announced by the Canadian Imperial Bank of Commerce (CIBC) for $500,000 in support of our transition to Yukon University, the Bank of Montreal (BMO) for $400,000 in support of permafrost research and private foundations stepped up as well, with project-focused funding including a $500,000 gift from the Weston Garfield Foundation.

Following extensive lobbying, the Government of Canada generously announced $26M in budget 2019 to support the construction of a science building at the Ayamdigut Campus of Yukon College in Whitehorse. The building should be completed in 2023. It will facilitate science education and research through both Western and Indigenous lenses, balancing the two ways of knowing and doing.

In February the Honourable Marc Garneau announced funding of over $368,000 over two years starting in 2019-20. These funds will support the Northern Climate ExChange at Yukon College, to design and implement systems to identify potential permafrost-related hazards, such as landslides and ground subsidence.

In anticipation of becoming Canada’s first university in the Circumpolar north, Global Affairs will start supporting the UArctic North to North program – a student exchange program that will enable northern post-secondary students to pursue studies in other circumpolar countries. This program will be managed through Yukon College.

In September of this year Dr. Barnes was elected to the University of the Arctic Board of Governors at the Congress meeting in Oulu, Finland. She joins other Presidents from universities in the eight Arctic states, bringing focus to programs and research built in the north.

It was a year of change at the Board level. And at the donor level, we’re seeing the start of some positive philanthropic recognition for Yukon College, and the future Yukon University – soon to become Canada’s first university north of 60.

Chris MilnerChairBoard of Governors

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2018-2019 ANNUAL REPORT 2

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We’re well on the way to the Yukon University transition. This year we saw the final convocation of Yukon College. Since the introduction of the Yukon College Act in 1988, transitioning the institution from the Whitehorse Vocational and Technical School (later named Yukon Vocational and Technical School), we have seen immense growth and change. We’re now ready for the next stage in our growth!

Another milestone occurred this year: the Bachelor of Business Administration degree was approved by Campus Alberta Quality Council. This is now our second made-in-the-Yukon degree.

Yukon College continues to deliver several partner degrees. In fact, this year we celebrated 30 years of delivery for the Bachelor of Education degree – the Yukon Native Teacher Education Program, as it’s also known - in partnership with the University of Regina.

In addition to the development of Yukon degrees, another programming shift has occurred – the delivery of credit programs available entirely online. This is a welcome new development in Yukon communities. Our first made-in-the-Yukon degree, the Bachelor of Arts in Indigenous Governance – is now available entirely at a distance, as is the Community Education and Employment Support program, developed in close partnership with Yukon First Nations. This increasing availability of credit programming to the communities is an exciting development for the Yukon.

An increasing number of students are coming to Yukon College from around the world. Given the Yukon’s persistent labour shortages, the Yukon Government is aware of this potential source of labour, and as such, initiated the signing of a Memorandum of Understanding, which aims to raise awareness of Yukon employment opportunities among eligible international students.

Of course, an increase in students further emphasized the housing shortage issue. In February of 2018 the Board directed the tendering of a pilot housing project with developers in Whitehorse. Kobayashi and Zedda Architects were chosen to provide micro-units in a building they were building in downtown Whitehorse. Five units were made available in January 2019 to students.

Our journey and evolution to Yukon University continues. We look forward to the passing of Yukon University legislation in the fall of 2019 and the celebration of Yukon University in 2020!

Karen BarnesPresident and Vice Chancellor

2018-2019 ANNUAL REPORT 2

Message from the President and Vice Chancellor, Yukon CollegeDr. Karen Barnes

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MISSIONYukon College is a leader in education, rooted in our diverse cultures and northern environment, where everyone is inspired to dream, learn and achieve.

Offer exceptional student experiences

Yukon College will promote a welcoming and culturally inclusive environment.

Yukon College will provide exceptional student experiences through innovation in programs, instruction, research and support.

Yukon College will inspire and support student potential through experiential learning.

Yukon College will work with public schools to provide professional development opportunities that support the new vision for education.

2016-21 STRATEGIC DIRECTIONS AND GOALS

Collaborate with First Nations

Yukon College will collaborate with First Nations to identify and respond to their educational needs and priorities.

Yukon College will collaborate with First Nations on the development of college programs.

Yukon College will partner with First Nations to develop and establish an institute of Indigenous self-determination.

VISIONGrounded in northern expertise and strong partnerships, we will build a healthy and prosperous north through unique, relevant and inclusive education and research.

Expand research and innovation

Yukon College will conduct, implement and share research on northern topics.

Yukon College will partner with First Nations in identifying, coordinating and implementing research priorities.

Yukon College will increase student and faculty capacity to conduct research throughout the institution, its campuses and the North.

Yukon College will be Yukon’s hub for creative and balanced dialogue, innovation and entrepreneurship.

Engage with Yukon rural communities

Yukon College will identify and respond to rural community needs by offering relevant programs.

Yukon College will identify, provide and support innovative delivery models for education in rural communities.

Yukon College campuses will enrich educational opportunities and services by connecting and engaging with each other.

Become a northern-focused university

The Yukon University Act will be enacted.

Yukon College will become a hybrid university that offers a full range of programming, including trades, academic readiness, certificates, diplomas and degrees.

Yukon College will offer future-focused, diverse and integrated programming.

Yukon College will develop and implement a plan to retain, support and attract faculty and staff in order to enrich the institution.

Alistair Maitland Photography

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Vera Holmes Eric Jun Hyeok Kim Shawn Allen Kathleen Van Bibber Karen Barnes (non voting member) Piers McDonald (non voting member)

Mehakdeep Kaur (Assistant Treasurer)

Jerome Belanger (Secretary)

Stephen Mooney, M.Sc., P. Eng. Director, Northern Housing Innovation

Wally Rude, EdD Registrar and Dean of Enrolment Services

Andrew Richardson, PhD Dean, Applied Arts

Shelagh Rowles, M.Ed. Executive Director, Centre for Northern Innovation in Mining

Tosh Southwick, M.Ed. Vice President, Indigenous Engagement and Reconciliation

Davida Wood, B.Ed. Director, First Nations Initiatives

Colleen Wirth, MA Director, Student and Infrastructure Support

Katie Tuck, BA Director, IT & Chief Information Officer

Senior Executive Committee (October 2019)

Yukon College Student Union (April 2019)

Yukon College Board of Governors (November 2019)

Yukon College Chancellor (October 2019)

Tom Ullyett (Chair) Chris Milner Jocelyn Curteanu Carol Geddes Judy Gingell Ernest Prokopchuk Julia Salo

Piers McDonald

Karen Barnes, EdD President and Vice-Chancellor

Janet Welch, EdD Vice-President, Academic and Student Services

Maggie Matear, PhD, MBA Vice-President, University Services

Clint Sawicki, MPA Associate Vice-President, Research Operations

Bronwyn Hancock, PhD Associate Vice-President, Research Development

Giulia Lucchini, Cert Mgmt Director, Employee Relations and Organizational Development

Jacqueline Bedard, MET Executive Director, Government and External Relations

Lacia Kinnear, MES Director, Governance and Strategic Initiatives

Harvinder Singh (President)

Sparsh Arora (Vice-President Internal)

Charlene Smith (Vice-President External)

Demi Dorn (Treasurer)

Executive Leadership Team (October 2019)

Karen Barnes Janet Welch

Maggie Matear Jacqueline Bedard

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Centre for Northern Innovation in Mining

Yukon College offers cutting-edge training through its Centre for Northern Innovation in Mining (CNIM). CNIM is built on the partnerships among the mining industry government, First Nations and post secondary research and programs.

Milestones for 2018/19 included:

• Heavy Equipment Operator/Surface Mining Train the Trainer - developed and delivered a Train the Trainer course for experienced Yukon heavy equipment operators with First Nations and industry consultation and collaboration.

• Industrial Research Chair for Colleges (IRCC), Northern Mine Remediation - Natural Sciences and Engineering Research Council Chair position approved, and IRCC research program commenced in partnership with Yukon’s mining industry. Early research projects focused on passive water treatment using bioreactors, and tailings management using saturated covers. Yukon College students served as research assistants during this first year of the IRCC’s 5-year mandate.

• Geological Technology Program - completed the delivery of the diploma program.

• Heavy Equipment Technician - delivered pre-apprentice programs at Ayamdigut and Watson Lake campuses.

• Millwright Program - delivered a pre-apprentice program at Ayamdigut campus.

• Introduction to Underground/Surface Mining - delivered training for Yukon students to participate in underground mining at the Delta Junction Mine Training facility in Alaska in partnership with University of Alaska. The surface mining simulator returned for future surface mining programming in the Yukon.

• Environmental Monitoring - delivered 6 modules in the certificate program in cooperation with Yukon First Nations and industry.

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• Building on the partnership with the Crisis and Trauma Resource Institute (CTRI) to expand the number and variety of CTRI courses available in Yukon through CTRI’s Yukon-based trainers; and working with CTRI trainers from other jurisdictions as required.

• Continuing to partner with Hospice Yukon to deliver Grief and the Frontline Professions, for frontline workers; Supporting your Staff through Loss and Grief, for managers.

• Continuing to partner with Fetal Alcohol Syndrome Society Yukon (FASSY) to deliver FASD-Informed Support to frontline workers, support workers, volunteers, families and others who are supporting clients or family members who have FASD. The NISJ also became a member of the FASD-Interagency Advisory Committee, which includes representatives from government departments, non-government organizations and parents.

• Working with the First Nations Initiatives Department at Yukon College to coordinate the promotion and delivery of the YFN 101 online course and the 1-day YFN 101 classroom course. The online and classroom courses are delivered to governments, businesses and non-government organizations. These courses are also available to the public.

• Working with the Government of Yukon Deptartment of Health and Social Services, Canadian Mental Health Association Yukon Division, Seniors Action Yukon, and older adults to plan and pilot a series of Mental Wellness Conversation Cafes for seniors, caregivers and adults living with dementia or Alzheimer’s.

The Northern Institute of Social Justice (NISJ) develops and delivers short, non-accredited training courses that provide frontline workers and others in governments, non-government organizations and businesses with information, tools and strategies for working with clients, colleagues and communities. The NISJ provides administrative justice training to Yukoners appointed to boards and tribunals. Courses are also provided for the general public. The institute works with course developers and instructors from Yukon College and Yukon’s private, public and non-government sectors, to deliver training that reflects the Yukon context.

Milestones in 2018/19 included:

• Working with the Government of Yukon Public Service Commission to explore and start delivering Residential School Awareness to groups of Government of Yukon employees. The NISJ facilitates the sessions in which guest speakers, who are Residential School Survivors or Intergenerational Survivors, share their story and in so doing, talk about some of their experience, the impact of residential school, the turning point in their life, and their healing journey and life today.

• Working with the Dena Kayeh Institute in Watson Lake to deliver a variation on the NISJ’s Regulatory Enforcement Compliance Training for Land Guardians.

• Working with the Government of Yukon Deptartment of Health and Social Services to continue to deliver Mental Health First Aid for Northern Peoples in rural communities; and Applied Suicide Intervention Skills Training. Course delivery was funded under the Mental Wellness Strategy. The NISJ also worked with Health and Social Services and community campuses to deliver the Diabetes Workshop series via distance education technology.

• Delivering Conscious Aging – Aging with Passion and Purpose, a retreat for older adults co-facilitated by Yukon College instructor Larry Gray and by Dr. Susan Manning. Both instructors are on faculty with the Centre for Conscious Eldering, located in Colorado.

• Working with Kwanlin Dün First Nation Government’s Department of Justice to begin exploring possibilities for delivering community safety officer training to begin exploring possibilities for delivering community safety officer training.

Northern Institute of Social Justice

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The Yukon University Foundation serves as the fundraising arm of the College. Led by a Board of Directors, the Foundation generates and manages a sustainable legacy in order to enhance access to education, as well as learning and research opportunities.

• National Fundraising Campaign — In 2019 the Foundation quietly embarked on a 2 phase $86,000,000 campaign incorporating federal, territorial, and private sector funding. In March, Yukon College welcomed the Government of Canada’s announcement of $26M over five years for the construction of a new science building for the future Yukon University (YukonU). Just a few months later Victor G. Dodig, CIBC President and Chief Executive Office announced CIBC’s commitment of $500,000 to Yukon University Foundation to kick-start the private sector funding goal.

• Student awards — 42 donor-funded bursary and scholarship awards were available to students.

• Inspire Celebration — Student award donors connected with their award recipients over appetizers crafted by the Chefs and students of the Culinary Arts program. During a Fireside Chat, the captivating words of a student, an Alumna who serves as a Foundation Board member, and a Student Award donor illuminated the impact of student awards and post-secondary education on individuals, the community, and the territory.

Total assets (June 30, 2019): $4,537,354 ($355,440 increase from previous year)

Yukon University Foundation Board of Directors (June 2019)

Joy Waters (Chair) Pat Tobler (Vice Chair) Wendy Tayler (Past Chair) Karen Barnes (ex officio)Allison Rippin ArmstrongJennifer Byram

Shadelle ChambersJoel Cubley Tony MaiorinoRod Snow Roxanne Vallevand

Yukon Research Centre Yukon University Foundation

The Yukon Research Centre is dedicated to answering northern research questions. Our research helps us understand the world around us, and inspires our students to become the research leaders of tomorrow. We work closely with partners across the North, and see collaborative research as a pathway to reconciliation. Our research respects and reflects First Nations ways of knowing and doing. Milestones in 2018/19 included: • Inspired research — together with our partners, we carried out research projects stemming from the land and Yukon communities. We studied the impacts of renewables on remote communities; using passive water treatment for mine remediation in northern climates; how climate change is impacting Canada’s North and how northerners can adapt; how self-governing First Nations can lead research in their communities; and how to indigenize research ethics. • Leading national dialogue and discourse — our researchers and staff sat on national Expert Panels focusing on climate change adaptation, indicators to measures adaptation progress, and top climate risks facing Canada. We contributed to the development of national research networks, including the Canadian Mountain Network and the North-by-North program of ArcticNet, and PermafrostNet. Our researchers presented at conferences and workshops from coast to coast to coast. • Industry-partnered research programs — our two Industrial Research Chairs, in Northern Energy Innovation and Northern Mine remediation, are conducting applied research that addresses industry needs and helps support northern resilience. • Research Services — our Research Services Office continues to grow, and houses ethics processes for research involving humans and animals; administers research granting processes and funding; and connects researchers with partners and funding opportunities. • Research funding and student opportunities — in fiscal 2018/19 the Yukon Research Centre brought in close to four million dollars in funding, and 52 students at Yukon College were hired to work on research projects at the YRC and with faculty researchers.

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Application Data

TOTAL Application, Acceptances for Admission, and Yield Rate

A total of 1,208 applications for Yukon College programs were received in 2019/19, of which 797 (or 66%) were accepted for admission. A total of 555 accepted students registered in their courses, for a yield ratio of 70% of acceptances, and 46% of all applications.

OVERALL Applications, Acceptances, and YieldAPPLICATIONS ACCEPTANCES NEW REGISTERED STUDENTS

Year Applications Number Percent Number % of accepted % of applied

2018-19 1208 797 66% 555 70% 46%

2017-18 1495 959 64% 595 62% 40%

2016-17 1655 1070 65% 570 53% 34%

FIRST NATIONS Application, Acceptances for Admission, and Yield Rate

First Nations applicants accounted for 31% of applications in 2018/19. This group had an acceptance rate of 65%. The yield ratio of newly registered students in this group was 71% of acceptances, and 46% of applications.

FIRST NATIONS Applications, Acceptances, and Yield

YEARAPPLICATIONS ACCEPTANCES NEW REGISTERED STUDENTS

Number Applications Number Percent Number % of accepted % of applied

2018-19 379 31% 246 65% 174 71% 46%

2017-18 457 31% 293 64% 161 55% 35%

2016-17 562 34% 339 60% 162 48% 29%

DIRECT ENTRANTS FROM YUKON HIGH SCHOOLS Application, Acceptances for Admission, and Yield Rate

Direct entrants from Yukon high schools accounted for 6% of applications in 2018/19. This group had an acceptance rate of 83%. The yield ratio of newly registered students in this group was 76% of acceptances, and 63% of applications.

DIRECT ENTRANTS FROM YUKON HIGH SCHOOLS Applications, Acceptances, and Yield

YEARAPPLICATIONS ACCEPTANCES NEW REGISTERED STUDENTS

Number Applications Number Percent Number % of accepted % of applied

2018-19 76 6% 63 83% 48 76% 63%

2017-18 121 8% 109 90% 72 66% 60%

2016-17 212 13% 181 85% 95 52% 45%

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International Student Enrolment

In 2018/19, the full-time equivalent count for international students was 173, and 22 students were enrolled for short-term study tours. In the previous year of 2017/18, the full-time equivalent count for international students was 194, and 34 students were enrolled for short-term study tours.

Student Demographics (For academic year Sept. 1, 2018 to Aug. 31, 2019)

Demographic Characteristics of Yukon College Students

DEMOGRAPHIC

2018/19 2017/18

Credit Programming Non-credit

Credit Programming Non-creditFull-time Part-time All Full-time Part-time All

Female 58% 66% 62% 41% 59% 63% 61% 42%

Male 39% 22% 31% 37% 35% 21% 29% 39%

Non-binary or Unspecified 3% 12% 7% 22% 5% 16% 10% 19%

Indigenous* 30% 25% 28% 17% 25% 19% 23% 15%

Average Age 26.9 32.1 29.2 38.9 27.6 32.1 29.4 39.2

Median Age 24 29 26 38 25 29 26 38

Community Campus Students

In 2018/19, a total of 1,665 students took courses at one of Yukon College’s 12 community campuses, up 9% from 1,532 in 2017/18. Also, 607 students took Yukon College credit courses that were offered in an online format in 2018/19, up 4% from 585 in 2017/18.

Enrolment by Program Area

Yukon College Student by Program Area

PROGRAM CLUSTER*2018/19 2017/18

Full-time Part-time TOTAL Full-time Part-time TOTAL

University Transfer 284 196 480 299 190 489

Degree and Post-graduate Programs 106 70 176 103 61 164

Career and Technical 157 176 333 142 169 311

Trades 43 11 54 23 14 37

Academic and Skill Development 109 100 209 145 62 207

TOTAL Credit Programming 699 553 1,252 712 496 1,208

TOTAL Non-credit Programming 40 4,738 4,778 47 4,801 4,848

TOTAL 739 5,291 6,030 759 5,297 6,056

Full-time and Part-time Student Headcounts

In 2018/19, Yukon College had a total of 699 full-time and 553 part-time students enrolled in credited programming for a total of 1,252 students.

Also in 2018/19, Yukon College had 4,778 students enrolled in non-credited programming. As some students enroll in multiple courses, there were 8,158 course registrations in non-credit courses.

Enrolment Data - New and Returning Students (For academic year Sept. 1, 2018 to Aug. 31, 2019)

*Note: Program clusters do not necessarily reflect the organizational structure of Yukon College. Some programs have been reclassified since 2015-16.

*Note: Indigenous data is based on self-identification and funder information, and should therefore be taken as a minimum percentage.

SOURCE: Data Warehouse as of October 1, 2019

SOURCE: Data Warehouse as of October 1, 2019

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TOTAL 134 44 28 206 125 34 26 185

SOURCE: Data Warehouse as of October 1, 2019

*Note: Program clusters do not necessarily reflect the organizational structure of Yukon College.

Employment Outcomes

Fifty percent of former students from career and trades/technical programs in 2017/18 were working in paid jobs that were “somewhat” or “directly” related to their studies at Yukon College, as of the time they were surveyed early in 2018. This is down nineteen percentage points from the year before.

Student Outcomes (For academic year Sept. 1, 2018 to Aug. 31, 2019)

Credentials awarded

Yukon College students earned 134 certificates, 44 diplomas, and 28 degrees for the academic year ending in August 2019.

Number of Certificates, Diplomas and Degrees by Type of Program

Credential2018/19 2017/18

Certificates Diplomas Degrees TOTAL Certificates Diplomas Degrees TOTAL

University Level 54 31 28 113 33 14 26 73

Career and Technical 57 13 0 70 76 14 0 90

Trades 17 0 0 17 12 0 0 12

Academic and Skill Development 0 0 0 0 0 0 0 0

Yukon Native Language Centre 6 0 0 6 4 6 0 10

Employee DataIn 2018/19 a total of 309 regular or term staff and 350 casual or contract staff worked at Yukon College.

During the previous year of 2017/18 a total of 295 regular or term staff and 332 casual or contract staff worked at Yukon College.

. Board of Governors Strategic Performance IndicatorsThe following strategic indicators are used by the Yukon College Board of Governors to monitor progress on the 2016-21 Strategic Plan.

Ninety-five percent of students were satisfied with the quality of instruction at Yukon College, 95% were satisfied with course content, 94% were satisfied with support services, and 85% were satisfied with opportunities to engage in research.

Ninety-seven percent of students agreed that “Yukon College is a good learning environment.”

The percentage of students who agree that “Yukon College provides an environment of cultural sensitivity for all” is 94% overall and 90% for Indigenous students.

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Financial Reports

Revenue 2018-2019

Expenditures 2018-2019

2%Student assistance/scholarships

52% Contributions, Government of Yukon

3% Sales, rentals and services

5%Tuition

5% Miscellaneous

33%Contracts

4% Miscellaneous

1%Student assistance/scholarships

32%Direct instruction

20%Direct instructional support

17% General

administration

9%Research

9% Services received

without charge

5%Facility services and

utilities

3%Cost of sales

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*An unqualified audit opinion was expressed by the Auditor General of Canada. A copy of the full financial statements, including the audit opinion, is available at yukoncollege.yk.ca/about-us/publications-plans-reports.

Revenues 2019 2018

Contributions, Government of Yukon $26,618,839 $24,824,875

Contracts 16,540,056 15,339,307

Miscellaneous 2,615,593 2,441,564

Tuition 2,547,290 2,326,551

Sales, rentals and services 1,583,449 1,662,302

Student assistance/scholarships 836,724 768,242

$50,741,951 $47,362,841

Expenses 2019 2018

Direct instruction $16,155,964 $15,114,320

Direct instructional support 10,231,084 10,082,465

General administration 8,573,358 6,707,231

Research 4,471,071 4,513,909

Services received without charge 4,466,331 3,983,667

Facility services and utilities 2,776,330 1,877,784

Cost of sales 1,654,561 1,617,001

Miscellaneous 1,836,816 1,498,023

Student assistance/scholarships 569,463 724,382

$50,734,978 $46,118,782

Total surplus of revenue over expenses $6,973 $1,244,059

Changes in net assets 2019 2018

Total surplus of revenue over expenses $6,973 $1,244,059

Endowment contributions 149,725 199,606

Net assets, beginning of year 21,619,082 20,175,417

Net assets, end of year $21,775,780 $21,619,082

Net assets 2019 2018

Capital $9,638,277 $10,428,407

Endowments 2,722,553 2,572,828

Pension 18,275,800 17,743,100

Unrestricted (8,860,850) (9,125,253)

$21,775,780 $21,619,082

SUMMARY FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2019*