SIIT In Solid Financial Shape

SIIT In Solid Financial Shape

Thursday, February 14, 2008 at 14:56

An Aboriginal post-secondary institution is doing well financially.

The Saskatchewan Indian Institute of Technologies presented its audited financial statements yesterday at the FSIN’s winter legislative assembly.

SIIT had revenues of $15.9 million, which was over a million dollars more than the previous year.

The institute was in the black by $322,000, and has an accumulated debt of $384,000.

SIIT’s chief financial officer says that amount of debt is fine because it is about two per cent of the total budget — which is considered acceptable because, as a service-provider, the goal is to be close to breaking even.