Summary
Alberta’s public post-secondary institutions use for-profit and cost recovery ventures to generate revenue in addition to traditional sources like government grants and student tuition.
In 2015, we audited whether the Department of Advanced Education had developed and communicated:
- expectations and guidelines on these ventures
- well-designed systems to oversee the quality of board oversight for the accountability of venture results.
We complete our assessment of implementation and found that the department implemented one of our two recommendations.
- IMPLEMENTED Recommendation: Document and communicate expectations and guidelines
- REPEATED Recommendation: Improve department’s oversight of institutions’ risk assessment of ventures