TWU response to August 9th article in The Province
Trinity Western University, having built and maintained its well-established position as a highly-ranked, nationally-respected member of the Canadian higher education community for more than 50 years, is very concerned about the known inaccuracies in today’s article in the Province (Kent Spencer) and is currently reviewing its options. The article ignored up-to-date information provided by the University to Mr. Spencer and instead relied on out of context quotes that are more than four years out of date.
The University is not “financially troubled,” as stated by Mr. Spencer.
In late 2008 and early 2009, the University did face some short-term fiscal challenges, as did many universities and other organizations. However, re-structuring in 2009 and 2010 placed the University in a stable financial position with a healthy outlook for the future. The University has a steady enrolment with total revenue in excess of $55,000,000 annually. TWU is required to and maintains a balanced budget. The University has a strong asset base and more than adequate cash reserves. In the last three years, the University has invested millions in capital assets and infrastructure improvements. As is typical, new construction and expansion is underwritten, in whole or part, by supporters of Trinity Western.
Mr. Spencer was given written assurances by Trinity Western that at no time had the University been in default regarding payment of any of its bills, including those to the Township of Langley.
Given the information provided by the University to Mr. Spencer, we are surprised and disappointed that the Province newspaper would not be more careful to accurately and fairly report the verified facts provided to it.
- Last Updated on September 12th, 2013 at 12:21pm
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