President’s message

Lesley Rigg, President and Vice-Chancellor

I want to thank each and every one of you for helping to make this past year such a success. Your hard work, dedication and commitment to excellence help to create a vibrant and thriving learning environment for our students, and I am deeply grateful for everything that you do.

I’m thrilled to have joined such a dynamic and welcoming community here at Brock, and this annual report offers an opportunity to reflect on and celebrate all that has been accomplished over the past year.

Our exceptional student experience, services and supports continue to be ranked among the best in Canada, and our sports-related programs continue to be ranked among the top 100 in the world.

We completed the Brock-Niagara Validation, Prototyping and Manufacturing Institute, a collaborative hub connecting Brock researchers and students with industry partners in bioproducts, bioscience, bioagriculture and chemical manufacturing.

And the new Nursing Clinical Simulation Lab is helping nursing students gain valuable hands-on experience and further develop their skills and confidence as they prepare for clinical placements in the health-care field.

We’ve also had the opportunity to celebrate the continued generosity of Brock’s supporters, including Chancellor Pearson and her husband Michael Sabia, whose $500,000 gift will support women students and researchers working and studying in the fields of science, technology, engineering and math as well as aspiring entrepreneurs.

It certainly has been a fantastic year, and there’s more to look forward to, including a celebration of Brock’s 60th anniversary in 2024.

Thank you to the entire community for your hard work, dedication and continued stewardship of Brock’s finances. The work you do allows us to continue to prioritize student success and research excellence while maintaining a sustainable financial position.

Land acknowledgement

Brock University acknowledges the land on which we gather is the traditional territory of the Haudenosaunee and Anishinaabe peoples, many of whom continue to live and work here today. This territory is covered by the Upper Canada Treaties and is within the land protected by the Dish with One Spoon Wampum Agreement. Today this gathering place is home to many First Nations, Métis and Inuit peoples and acknowledging reminds us that our great standard of living is directly related to the resources and friendship of Indigenous people. brocku.ca/indigenous/

Financial results

The following table illustrates the financial results of the University presented on a funding basis as well as in accordance with accounting standards for not-for-profits (NFPS). A reconciliation between the two presentations can be found starting on page 60.

Statement of operations metrics

(1) Calculated using financial information from 13 other comprehensive universities. Certain 2021 metrics have been updated due to revisions in certain universities’ financial statements.

Brock’s tuition is in line with the average; however, grant revenue per student continues to be well below the sector average. Naturally, Brock operates more efficiently given the below-average government funding, and this is seen in the lower personnel costs per student. Brock continues to invest in students through increasing scholarships. Interest and investment income metrics are in line with Brock’s financial health metrics, as detailed below.

Financial health metrics

(1) Certain Brock 2022 metrics have been adjusted due to an update in reporting.

(2) Calculated using financial information from 13 other comprehensive universities. Certain 2021 metrics have been updated due to revisions in certain universities’ financial statements.

(3) The $20-million repayment of the Roy and Lois Cairns Health and Bioscience Research Complex loan during 2022-23 causes the one-time swing in this metric.

Refer to page 68 for explanations of the debt-related financial health metrics.

Chair of the Board’s message

Mark Arthur, Chair of the Board, Brock University

Dear Brock community,

As Chair of the Board of Trustees, I’m pleased to help introduce this year’s annual report, which outlines the many great successes Brock has enjoyed over the last year.

I’d like to extend my sincerest thanks to all members of team Brock. Your commitment to delivering the country’s top student experience, to research excellence, to stellar teaching and learning, and to fostering an equitable and inclusive environment is nothing short of inspiring.

Thanks to you, we have seen remarkable progress in many areas, with significant momentum carrying us into the new fiscal year.

I am so proud of the achievements we have made here at Brock. Thank you to all for your unwavering dedication and hard work. Together, we can accomplish great things.