Read UBC's 2023 Annual Financial Statements

Thursday, July 13, 2023

The Annual Financial Statements for year ended March 31, 2023, is now available.

UBC's consolidated financial statements reflect the assets, liabilities, revenues and expenses of UBC, covering the fiscal year from April 1 to March 31. They are prepared according to accounting standards, audited by our external auditors and reported to the Province.

The 2022/23 fiscal year was marked by ongoing uncertainty related to global events and residual impacts from the COVID-19 pandemic. UBC continued to see improvements in ancillary operations from return-to-campus activities including student housing, food services and athletics and recreation. These improvements were offset in large part by challenges from significant backlogs for processing study permits impacting international student tuition and significantly higher inflationary impacts throughout the year.

While the university continues to be impacted by significant inflationary and supply chain pressures, leading credit rating agencies continue to consider UBC as having a “very strong financial profile” and rate UBC’s financial obligations as high quality and very low credit risk. UBC’s financial position is overseen and governed by the university’s Executive, the Audit Committee, the Finance Committee, and the Board of Governors.

Read the report