What is it?
The balance sheet details the assets, liabilities, and accumulated operating surplus (or deficit) of the University. Examples of items found on the balance sheet include deposits on hand, deferred revenue, funds held in trust, and accounts payable.
Why is it important?
The balance sheet highlights the financial condition of the University by providing a snapshot of the assets and liabilities at a given point in time.
Funds held by the University on behalf of external parties, such as those for unions or student groups, are only recorded on the balance sheet. For the administrators who manage these types of Funds, you can look up the available balance in FAST Finance Reporting using the balance sheet report option.