Quick links

Fiscal 2022 Financial Results

The current year net surplus declined from the prior year as a result of a decline in student enrollment, lower investment income, and an increase in staffing and compensation. This was offset by higher auxiliary revenues as a result of students returning to campus.

The CUE community demonstrated incredible commitment and resilience in the fiscal year that ended March 31, 2022. Despite ongoing impacts of the pandemic, we were able to generate a net surplus of $5.5 million for the year. The generation of an annual surplus is necessary in order to meet CUE’s ongoing capital growth needs.

Despite the overall net surplus, CUE continues to be impacted by the effects of the pandemic, decreased enrollment and significant inflationary pressures. More information on how CUE demonstrates fiscal prudence and aligns spending with strategic goals is available here.

Our audited financial statements have been approved by CUE’s Board of Governors and are now available here.  These statements will appear in the 2021-22 Annual Report that will be available here by September 30, 2022.

We thank the CUE community for everyone’s support and hard work to maintain CUE’s financial sustainability over the past year.

Please find the annual financial statements linked below: