Finance & Integrated Services launches Procurement Programs within Strategic Sourcing
Procurement Programs is a new team within Finance & Integrated Services’ Strategic Sourcing within VP Finance & Operations. The team is responsible for leading the development of UBC’s strategic sourcing and procurement approach based on three fundamental pillars: Indigenous Procurement, Sustainability (Environment), and Equity, Diversity, and Inclusion (EDI) Procurement. The team is focused on Indigenous […]
Supporting UBC’s sustainability strategies
VP Finance & Operations’ Procurement Services within Finance & Integrated Services and VP Research & Innovations’ Innovation Partnerships will be collaborating with the Canada Climate Law Initiative (CCLI) to support UBC’s sustainability strategies outlined in the Climate Emergency Task Force Report. Through this collaboration, Procurement Services will help deliver on our UBC sustainability strategies and […]
Read UBC’s 2023 Annual Financial Statements
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 […]
Changes to UBC Service Levy
The UBC services levy is used to run the community centres, athletic and cultural facilities, and to maintain public spaces and infrastructure within UBC neighbourhoods. The Services Levy Notices issued in 2022 will be due on August 8, 2022. Please note that the drop box services at the Wesbrook Community Centre for UBC Service Levy […]
The C.D. Howe Institute ranks UBC first in both climate change & endowment activities and their governance
Independent non-profit research institute The C.D. Howe Institute ranked UBC first in Climate Change and Endowment Activities, tied for top score with McMaster University, with an overall score of 4.2. UBC also placed first in Climate-change Governance practices, scoring 4.9 out of 5.0. In 2020, UBC joined 16 major Canadian universities to launch Investing to […]
Enhancing UBC’s Financial Budgeting, Forecasting and Analysis Support
In addition to preparing and managing UBC’s annual financial budgeting process, the Comptroller’s Budget Office team has seen increasing demand for complex future-facing financial analysis, expanded budget and forecasting support, and the integration of new technologies such as Workday and Adaptive Planning. To better respond to these needs, the Budget Office team is reforming under […]
Auditor General’s report gives context on their audit of UBC’s financial statements
At the end of every fiscal year, the B.C. government combines the financial information from over 160 entities, including UBC, and produces a consolidated set of summary financial statements. The information in these statements is important because it indicates the financial well-being of the province. The office of the Auditor General of BC audits these […]
Consolidating Capital Expertise in the VPFO
We are pleased to announce the creation of a new Capital Financial Management team that will be responsible for the oversight and governance for UBC’s significant capital operations (i.e. over $1B ongoing/multi-year projects). The university’s capital accounting and capital reporting activities have historically been split between the Facilities group and the Comptroller’s team in the VP Finance & Operations […]
UBC Affirmed with “AA+” Rating from S&P
Credit rating agency S&P Global Ratings (formerly Standard & Poor’s) has re-affirmed UBC’s credit and senior unsecured debt ratings as “AA+”. The rating reports an expectation that “within our two-year outlook horizon, the university will maintain an excellent market position and demand profile.” The report acknowledges that, like other universities rated by the S&P, UBC […]
UBC evaluated as having “Outstanding Market Position” by Moody’s
Bond credit rating company Moody’s Investors Service (commonly referred to as “Moody’s”) has given UBC an Aa1 rating, reflecting “an outstanding market position supported by robust student demand, and a very strong research reputation which has historically allowed the university to generate strong operating results.” The rating also reflects “a large endowment fund and low […]