b'Restoring Financial Health(contd)Almost 4,000 participants registered for the run/walkpandemic. Like the rest of the economy we were not raisingoverninemilliondollars(JMD$9,000,000+)spared the financial pain. It came at a timewhen the fortheUniversitysScholarshipFund.SincetheMona Campus was already facing flat revenue growth inaugural event in 2012, over 250 scholarships haveand creeping costs. This added a further setback to been awarded to academically outstanding studentsour efforts to move the Campus to financial viability.in dire financial need.They continually express their appreciation for the opportunities afforded them as aHowever,withthischallengewehaveseenmany result of this event. opportunities to make adjustments to the way we do businessand to construct a more resilient foundation Sponsors included: CB Group, Title Sponsor, as well asfor the long term. With the confirmation of the first National Commercial Bank, National Baking Company,COVID-19 case in Jamaica in March 2020 we acted RJRGroup,PortAuthorityofJamaica,Mayberryvery quickly to move classes online so as to maintain Investments, Proven Investments, Gore Development,continuity of our core operations. At the same time, 102 PanJamaican,TheGleanerCompany,IslandGrill,wemaintainedflexibilitywithstudentsandgave103Rainforest Seafoods, The Jamaica Observer, Lasco,concessionswithregardtotuitionpaymentplans. JamaicaProducers,JamaicaNationalGeneralOn the vendor side we engaged our major service Insurance, IPrint, Nationwide, Irie and ZIP FM, Runningprovidersandloanproviderstonegotiaterelaxed Events and Salada. payment terms.Forthepast7yearstheUniversityhasusedtheHighlights of Financial PerformanceoccasiontohonourJamaicanswhohavemadean outstandingcontributiontosports.PasthonoreesProfit or Loss Statementinclude:Dr.theHonourableGlenMills,OJ;Dr.theRevenuegrowthremainedtepid.Itincreasedby HonourableMichaelFennell;Dr.theHonourable$0.3B JMD or 1.6% over 2019 and settled at $19.27B. Molly Rhone, Mr. Alfred Frano Francis, OD: Mr. AsafaAftersteadilyclimbingconsecutivelyforoverfive Powell, OD; Mr. Omar McLeod and the Reggae Girlz. years, student enrolment declined for the first time This year Mr. Neville Bertis Bell was honoured foron a year over year basis. The year ended with 19,161 his contribution to the development of football. studentsenrolledwhichisa2%reductionfrom the2018-2019FinancialYear.Therelatedrevenue earned from tuition fees was down by 5% or $0.4B. Financial ReportGovernmentcontributionswereup$0.3Bor3.5%. Thisreflectedanincreaseinthegrantsthatwere Overviewcommitted by regional governments to the institution. The2019-2020FinancialYearwasextraordinaryOf this total the Government of Jamaica contributed due to the suddenness and severity of the COVID-1989% or $6.77B.ANNUAL REPORT 2019/20 Realigning our Resources with Resilience and Resourcefulness'