The University reports tuition revenues in at least two ways: in its Consolidated Financial Statements (audited) and in the year-end statements of operating financial results (internal, UNB login required).
According to UNB, tuition revenues reported in the year-end statements of operating financial results are to be considered “ongoing” and part of the University’s budget projections; whereas the tuition revenue reported in the audited financial statements includes “non-core” revenues.
A significant variance of $22.7 million average per year exists between the two reporting methods.
There is also annual reporting to the Canadian Association of University Business Officers (CAUBO), but recent data are not available to AUNBT. This introduces additional variances.
For example, in the fiscal year 2013-14, the University reported to CAUBO $72,558,000 in credit course tuition revenue, $8,679,000 in non-credit tuition revenue, and $557,000 in other fees, to a total of $81,794,000 in the revenue category of tuition and other fees. However, the University’s statement of financial operations for the same fiscal year reported only $58,712,300 in student fee income.
While some of the variances can be explained by differences in reporting methods, we are not aware of a detailed explanation of a $22.7 per year average variance between “ongoing” tuition revenues in the University’s statements of operating results and those reported in the audited financial statements.