CAMBRIAN COLLEGE BUSINESS PLAN

Transcription

1 CAMBRIAN COLLEGE BUSINESS PLAN

2 Business Plan Table of Contents Introduction... 3 Action Plans... 4 External Factors Budget Commentary Investing in the Future Budget Conclusion Contact Us Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 2

3 Business Plan Introduction In accordance with Section 8 of O. Reg.34/03 under the Ontario Colleges of Applied Arts and Technology Act, 2002, Cambrian College of Applied Arts and Technology is pleased to present its Business Plan. The Business Plan was prepared in accord with the College s Strategic Plan which is founded on three pillars generate innovative growth, shape opportunity and foster success underpinning our strategic mission. In order to track our progress towards achieving the goals, Cambrian has developed an updated set of institutional performance indicators. These indicators, which have been incorporated into our current balanced scorecard, not only gauge our progress but also represent our continued commitment to quality and accountability. The College Performance Scorecard serves as a vehicle to communicate our strengths, our challenges, and our opportunities to internal and external stakeholders, as well as to the broader community. A copy of this scorecard accompanies this plan. The Business Plan is available for download from the College s website at or can be ed free of charge upon request by contacting Cambrian College. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 3

4 Business Plan Action Plans As part of Strategic Plan (Appendix A), the College approved the College Action Plans which will guide the College s activities during this fiscal year. The College Action Plans will focus on the following areas for this fiscal year: Generate Innovative Growth Increase College enrolment in the traditional target of secondary school graduates and adult learners Develop distinction in specific program areas that meet local and provincial industry needs Increase recruitment and retention of aboriginal learners Expand internationalization of the College campus Shape Opportunity Leverage technology in diverse/flexible ways that meet the needs of all our learners and expand program delivery to remote students Pursue applied research that enhances learning, and economic and community development Foster Success Provide an inclusive, safe and supportive environment for a community of diverse learners and employees Enhance graduate employability through a focus on Experiential learning in all programs Maximize institutional research, planning and evaluation processes to ensure program quality standards are maintained. Enhance the image of Cambrian College in the community and in key target markets Administrative Implement effective financial management processes aimed at ensuring Cambrian s sustainable, longterm, financial health Expand existing and develop new business development revenue streams Leveraging technology for optimal institutional research, planning and evaluation Increasing facilities capacity to support strategic goals and areas of distinction Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 4

5 Business Plan Outcome: Generate Innovative Growth Goal Tactic 2013/14 Results 1. Increase overall College enrolment, including traditionally underrepresented groups, specifically, nontraditional and nondirect entry students 2. Develop distinction in specific program areas that meet local and provincial industry needs 3. Increase recruitment and retention of aboriginal learners Expand strategic recruitment initiatives regionally and targeting the general population from Central and South Western Ontario and the GTA Launch a suite of one year, entry certificate programs providing an introduction to each Cambrian school of study targeting newly graduated secondary school students to replace the fifth year of secondary school Develop and submit for approval three new programs in areas of distinction Expand recruitment initiatives to make Cambrian the college of choice among Aboriginal learners across the North Implement 3 new strategies to retain Aboriginal students through to graduation 2% overall College enrolment growth. 2% increase in enrolment across programs of distinction. One new collaborative program. 2% increase in number of Aboriginal students on campus and/or taking programs in their communities. 2% improvement in retention rate of Aboriginal students from 1 st to 2 nd semester and 1% retention rate improvement for Aboriginal students from first to second year. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 5

6 Business Plan Expand internationalization of the College campus Establish one additional international location placement opportunity for students Diversify international students population by engaging in recruitment in at least 3 new countries 10% increase in international student enrolment on campus. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 6

7 Business Plan Outcome: Shape Opportunity Goal Tactic 2013/14 Results 1. Leverage technology in diverse/flexible ways that meet the needs of all our learners and expand program delivery to remote students 2. Pursue applied research that enhances learning, and economic and community development Establish a Learning at a Distance department which includes Virtual, Online, and blended delivery Modify classrooms, and improve classroom acoustics to enable quality audiovisual at a distance Develop and attract highly qualified skilled personnel for pursuit of research. Be an enabler of the innovation economy. Learning at a Distance department established with new director, organizational structure, operational plan and targets. Virtual college wing of classrooms established Three additional programs available in fully distance format. 10% increase in student enrolment in courses through Learning at a Distance. Develop an Introduction to Applied Research course for faculty and students. Provide 2 staff development opportunities to promote innovation literacy. Expand the faculty expertise database by 5. Launch Applied Research brand. 2% increase in applied research projects. 75% satisfaction rate Industry partners. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 7

8 Business Plan Outcome: Foster Success Goal Tactic 2013/14 Results 1. Provide an inclusive, safe and supportive environment for a community of diverse learners and employees 2. Enhance graduate employability through a focus on Experiential learning in all programs Implement a Collegewide plan for Student Advising which articulates specific strategies appropriate for each program and is based on best practices and pilots Implement College wide marketing strategy and employer based communication strategy that highlights this differentiation of Cambrian College programs 2% increase in the number of students who report they were satisfied or very satisfied with the concern of people at the College for their success; Target measured in KPI survey April % increase in students who selfidentify as Aboriginal. 50% of full time postsecondary programs will include a component of Aboriginal culture, world views and values. 2% increase in student satisfaction KPIApril Graduate employment rate maintained in top quartile of provincial KPI s. 100% of programs include experiential learning. 3. Maximize institutional research, planning and evaluation processes to ensure program quality standards are maintained. Review and revitalize the implementation of the faculty performance appraisal process Undergo the provincial quality assurance audit All faculty growth plans are focused on professional goals that maintain and enhance program quality standards. Attain a very good or higher rating on Provincial Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 8

9 Business Plan Enhance the image of Cambrian College in the community and in key target markets including the main campus and third party delivery partners Implement a metrics scorecard, supported by strategic objectives, to measure impact of marketing and communication efforts quality assurance audit report. Plan in place to address shortfalls from audit report on main campus and with third party delivery partners as necessary. Scorecard with baseline and targets established and reported. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 9

10 Business Plan Outcome: Administrative Action Plans Goal Tactic 2013/14 Results 1. Implement effective financial management processes aimed at ensuring Cambrian s sustainable, longterm, financial health 2. Improve efficiencies and profitability of oncampus Ancillary Businesses Improve performance of budget holders Improve communication with budget holders Establish riskmanagement procedures Examine distributed amortization approach to budgeting Improve skills of ancillary business managers through professional development and discuss groups Develop synergies through collaboration and centralized management of ancillaries businesses where feasible 95% of budget managers delivering Budget variances within +/5% of their approved budget. 75% of budget managers delivering an accumulated budget variance over a 3 year period of less than 2%. Three year growth target for College managed businesses of 10%. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 10

11 Business Plan External Factors The budget process for the year started in December 2012, with an initial projected deficit of $2.5 million. This shortfall was an accumulation of decreases in provincial funding and increases in negotiated labour resources. Further details are as follows: 1. Labour resource pressures Consistent with prior years and industry benchmarks, salary costs account for approximately 74 percent of the total operating budget. Negotiated increases range from 3.75 to 6 percent, which include components for cost of living and movements within the band. We continue to strategically manage our labour resources. 2. Funding The provincial grant model continues to provide challenges to the budget process. In the fiscal year, the grants will be reduced by $1.7 million from the prior year. The final year of transition funding was realized in , a reduction of $870,000 will result in the current year. Policy levers will have an impact of $200,000, forecasted to increase to $400,000 in the budget year. In addition, there are claw backs for international enrolments of $700,000, which will be offset by an increase in International tuition. Access to growth funding continues to be out of reach, as it is based on the 2 year slip, 3 year average model. Consistent with our general purpose operating grant, our previous enrolment declines are still prevalent in our funding calculations for the current year. 3. Deferred maintenance Deferred maintenance remains and continues to grow as a major challenge for the College with ageing buildings and infrastructure. The College receives a nominal amount of $200,000 for Facilities Renewal grant, which is not sufficient to maintain Cambrian's one million square foot facility. 4. Demographics The K12 demographics will have a significant impact on the future market of student recruitment. The College will have to be strategic and innovative to overcome the enrolment challenges in the 21st Century. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 11

12 Business Plan Budget Commentary In light of the external factors noted above, the projected deficit of $2.5 million was reduced to present a balanced budget to the Audit Committee for The College did experience growth in enrolment in , a sign that the College has turned the corner and is progressing in the recovery plan to achieve long term financial sustainability. We continue to hold budget holders accountable for their department's financial performance and continue to use these variances as a source for reductions in the budget where possible. Our strategy for overcoming the financial challenges ahead includes continued revenue generating opportunities and innovative methods of increasing enrolments and strategic spending. Investing in the Future Our strategy for the future remains student focused, with investment in flexible program delivery, quality curriculum, and strategic enrolment management ("SEM"). We are planning to invest $1.8 million in creating twenty virtually capable classrooms in the upcoming year, to be financed by debt. Our SEM Committee is working towards aligning our enrolment strategies with the College objectives and strategies, and development of recruitment initiatives and programs to attract new students. The College is also venturing into partnerships where we spend significant nonsalaried expenditures for an exchange of reciprocal revenue generating activities. We will continue to be strategic and innovative to address the future challenges. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 12

13 Business Plan Budget STATEMENT OF OPERATIONS FOR COLLEGE: 0102 Cambrian College of Applied Arts and Technology PREPARED BY: Helene DesbiensHelmes Actuals Budget Revenue 41 Grant Revenue 411 Grant Revenue Grant revenue Operating 78,554,440 75,270,901 47,720,113 42,319,935 45,097,568 39,710,911 42,969,673 39,710,911 GRE 42,429,913 39,640,911 NonGRE 539,760 70, Grant revenue Capital 1,096,532 GRE 1,066,474 NonGRE 30, Recognition of Deferred Revenue & Restricted Funds 1,031,363 GRE 259,607 Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 13

14 Business Plan NonGRE 771, Flow Through Grants GRE 548,400 NonGRE 548, Provincial Grants Repayment of Prior Year 225, Amortization of Deferred Capital Contributions 2,848,064 2,609,024 STATEMENT OF FINANCIAL POSITION GRE 2,153,421 1,914,381 STATEMENT OF FINANCIAL POSITION NonGRE 694, ,643 STATEMENT OF FINANCIAL POSITION 43 Tuition Fees 431 Tuition Fee Regulated 432 Tuition Fee Unfunded 439 Tuition Fee Other 44 Other Student Fees 449 Other Student Fees 16,964,602 18,391,328 12,890,232 14,086,484 3,290,604 3,630, , ,644 1,639,675 1,540,581 1,639,675 1,540, Contractual and other feeforservices 3,778,675 5,208, Contractual Services 3,778,675 5,208, Other feeforservices 46 Ancillary Revenue 6,307,518 Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 14

15 Business Plan Ancillary Revenue 6,169,135 6,169,135 6,307, Other Revenue 2,282,240 1,502, Reimbursement of Expenses 76, Donations 493 Gain/Loss on Sale of Assets 494 Gain/Loss on Sale of Inventory and other Assets 499 Other Revenue 2,205,530 1,502, Investment Income 64, ,428 GRE 64, ,428 * NonGRE * Interest Income GRE * NonGRE * Realized MTM Gain/Loss * 5 Expenses 76,949,100 76,634, Salaries & Wages 39,629,109 41,058, Salaries Full Time & Partial Load Academic 17,832,701 17,960, Salaries Part Time & Sessional Academic 2,493,889 2,631, Salaries Support Staff 10,685,862 11,881, Salaries Administrative Staff 8,169,260 Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 15

16 Business Plan ,030, Other Salary Costs Full Time & Partial Load Academic 550, , Other Salary Costs Part Time & Sessional Academic 517 Other Salary Costs Support Staff 34,921 57, Other Salary Costs Administrative Staff Employee Benefits 8,376,467 8,920, Benefits Full Time & Partial Load Academic 1,834,701 1,841, Benefits Part Time & Sessional Academic 272, , Benefits Support Staff 1,574,985 1,783, Benefits Administrative Staff 835, , Pension Plans 4,147,069 4,215, Postemployment Benefits & Compensated Absences 288, Transportation & Communication 531 Transportation & Communication 54 Services 541 Services 542 Utilities & Maintenance 543 Rental Expenditures 1,858,852 1,834,823 1,858,852 1,834,823 14,702,689 14,105,205 8,251,583 7,741,166 5,230,456 5,341,929 1,220,650 1,022,110 Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 16

17 Business Plan Supplies & Minor Equipment 551 Supplies & Minor Equipment 56 Ancillary Services Expenditures 561 Ancillary Expenditures 57 Amortization Expense 571 Amortization Expense 3,614,274 3,186,250 3,614,274 3,186, , , , ,900 4,408,726 3,973,072 4,408,726 3,973,072 CAPITAL ASSETS 59 Other Expenditures 4,189,014 3,390, Interest & Insurance Expenses 1,487,183 2,171, Interest on Capital Leases * Interest on Long Term Debt & Demand Loans 1,155,330 1,735,079 GRE 1,155,330 1,735,079 * NonGRE * Interest Expense on Line of Credit * 599 Other Expenses 2,701,831 1,219,363 SURPLUS/(DEFICIT) 1,605,340 1,364,048 Notes * means that the sum of these accounts would not add up to the total sub category amount. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 17

18 Business Plan Control (Assets Liabilities Net Assets must be 0 FOR COLLEGE: (INPUT COLLEGE CODE in Column C) 0102 Cambrian College of Applied Arts and Technology PREPARED BY: (INPUT NAME OF PERSON in Column C) Helene DesbiensHelmes STATEMENT OF FINANCIAL POSITION 0 112,000 Actuals Budget Assets 106,130, ,420, Cash and Cash Equivalents 15,758,628 14,411, Cash and Cash Equivalents 15,546,808 14,199, Cash in Trust Endowments 211, , Accounts Receivable 121 Accounts Receivable 8,338,081 8,338,081 8,338,081 8,338,081 GRE 2,999,274 2,999,274 NonGRE 5,338,807 5,338, Other Current Assets 5,892,126 5,854, Assets for Sale 49,850 49, Inventory for Consumption 17,290 17, Other Current Assets 5,824,986 5,787, Current Portion of Loans and Advances Receivable Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 18

19 Business Plan GRE NonGRE Current portion of Other Long Term Receivables 139, ,240 GRE NonGRE 139, , Prepaid Expenses 289, , Investments Greater than 90 Days & Less than 1 Year 5,356,588 5,356, Investments Greater than 90 Days & Less than 1 Year MTM OB 38, Investments Greater than 90 Days & Less than 1 Year MTM CY 38, Other Current Assets 15 CIP 151 CIP CAPITAL ASSETS 16 Tangible Capital Assets 124,455, ,155, Land 159, ,066 CAPITAL ASSETS 162 Site Improvements 1,514,292 1,243,431 CAPITAL ASSETS 163 Building 109,520, ,570,593 CAPITAL ASSETS 164 Furniture and Equipment 13,261,535 12,182,283 CAPITAL ASSETS 165 IT CAPITAL ASSETS 166 Aircraft CAPITAL ASSETS 169 Other TCA CAPITAL ASSETS 17 Tangible Capital Asset Accumulated Amortization 51,436,959 53,359, AA Site Improvements 922, ,047 CAPITAL ASSETS Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 19

20 Business Plan AA Building 43,554,496 46,006,429 CAPITAL ASSETS 174 AA Furniture and Equipment 6,959,553 6,602,442 CAPITAL ASSETS 175 AA IT CAPITAL ASSETS 176 AA Aircraft CAPITAL ASSETS 179 AA Other TCA CAPITAL ASSETS 18 Long Term Receivable 181 Long Term Receivable GRE 2,483,722 2,381,482 2,483,722 2,381,482 NonGRE 2,483,722 2,381, Investments and Other Long term Assets 639, , Long term Investments 639, , Investments Greater than 1 Year Investments Greater than 1 Year MTM OB 624, , Investments Greater than 1 Year MTM CY 14, Other Long term Assets Other Long Term Assets Other Financial Assets MTM OB Other Financial Assets MTM CY 2 Liabilities 89,099,360 87,433, Bank Indebtedness 211 Bank Indebtedness 22 Accounts Payable and Accrued Liabilities 10,744,623 10,595, Accounts Payable and Accrued Liabilities 9,217,733 Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 20

21 Business Plan ,217,733 GRE 9,217,733 NonGRE 9,217, Accrued Interest 39,626 39, Current Portion of Long term liabilities 1,487,264 1,338, Current Portion of Long Term Debt 1,388,268 1,234,566 GRE 717, ,326 NonGRE 670, , Current Portion of Capital Leases 98, , Demand Loans Demand Loans OB Demand Loans Newly acquired Demand Loans Repayments 23 Deferred Revenue 231 Deferred Revenue 5,509,082 5,509,082 2,903,427 2,903,427 GRE 293, ,012 NonGRE 2,610,415 2,610, Deferred Tuition Revenue 2,605,655 2,605, Restricted Contribution 241 Restricted Contribution 2,401,366 2,401,366 2,401,366 2,401,366 GRE 65,755 65,755 NonGRE 2,335,611 2,335, Restricted Contribution MTM OB Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 21

22 Business Plan Restricted Contribution MTM CY 25 Deferred Capital Contributions 251 DCC * * 46,398,560 44,419,536 46,398,560 44,787,832 GRE 38,237,207 38,237,207 NonGRE 8,161,353 6,550, DCC Additions 802, ,000 GRE 394, ,000 * NonGRE 407,202 * DCC Amortized to Revenue 2,848,064 2,609,024 GRE 2,153,421 1,914,381 * NonGRE 694, ,643 * DCC MTM OB 1,694,021 1,610,728 * DCC MTM CY 83,293 * 252 DCC Unspent Third Parties DCC Unspent Additions * DCC Unspent MTM OB * DCC Unspent MTM CY * 26 Capital Lease 2,135,992 2,032,500 Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 22

23 Business Plan Capital Lease 2,230,687 2,135, Capital Lease Payments 94, ,492 * 27 Debt 271 Debt 18,851,706 19,417,140 18,851,706 18,851,706 GRE 11,767,726 11,767,726 NonGRE 7,083,980 7,083, Debt Acquired 1,800,000 GRE 1,800,000 * NonGRE * Debt Retired/Paid in the Year 8,399,417 1,234,566 GRE 7,686, ,326 * NonGRE 707, ,240 * 29 Other Long Term Liabilities 3,058,031 3,058, Obligation for Pension Plan Benefits 292 Obligation for Postemployment Benefit & Compensated Absences 3,058,031 3,058, Obligation under AFP 299 Derivatives and Other Long term Liabilities GRE NonGRE Derivatives MTM OB * Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 23

24 Business Plan Derivatives MTM CY 3 Net Assets 31 Unrestricted Net Assets 311 Unrestricted Net Assets 32 Internally Restricted Net Assets 321 Internally Restricted Net Assets 33 Investment in Capital Assets 331 Investment in Capital Assets * 17,030,983 15,874,935 3,310,531 3,310,531 3,310,531 3,310,531 1,267,250 1,155,250 1,267,250 1,155,250 7,756,151 6,712,103 7,756,151 6,712, Restricted Contributions 361 Restricted Contributions GRE NonGRE 37 Endowments 371 Endowments GRE 5,629,806 5,629,806 5,629,806 5,629,806 NonGRE 5,629,806 5,629, Endowments MTM OB * Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 24

25 Business Plan Endowments MTM CY * 38 Accumulated Remeasurement Gain & Losses 932, , Accumulated Remeasurement Gain & Losses 932, , Accumulated Remeasurement Gain & Losses OB 1,069, , Unrealised Remeasurement CY Gains/Losses 136, Remeasurement Reclassified to Statement of Operation Assets Liabilities Net Assets 0 112,000 Notes * means that the sum of these accounts would not add up to the total sub category amount. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 25

26 Business Plan CAPITAL ASSETS FOR COLLEGE: 0102 Cambrian College of Applied Arts and Technology PREPARED BY: Helene DesbiensHelmes Show acquisitions as positive amounts; show amortization and disposals as negative amounts LAND Actual Forecast Land OB 159, , , , , , Land Transfers from CIP Land Additions Land Disposals Land Valuation and Other Adjustments TOTAL LAND CLOSING 159, , , , , ,066 BUILDING Building OB 108,723, ,520, ,570,593 98,313,449 98,813,449 99,313, Building Transfers from CIP Building Additions 796,931 2,050, , , , , Building Disposals 13,757, Building Valuation and Other Adjustments Closing balance 109,520, ,570,593 98,313,449 98,813,449 99,313,449 99,813,449 Accumulated Amortization: AA Building OB 40,829,208 43,554,496 46,006,429 34,771,345 37,305,905 39,852, AA Building Current Year Amortization Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 26

27 Business Plan ,725,288 2,451,933 2,522,060 2,534,560 2,547,060 2,559, AA Building Disposals 13,757, AA Building Valuation and Other Adjustments Closing balance 43,554,496 46,006,429 34,771,345 37,305,905 39,852,965 42,412,525 BUILDINGS NET BOOK VALUE 65,966,097 65,564,164 63,542,104 61,507,544 59,460,484 57,400,924 SITE IMPROVEMENTS Site Improvement OB 1,253,757 1,514,292 1,243, , , , Site Improvement Transfers from CIP Site Improvement Additions 291, Site Improvement Disposals 30, , , Site Improvement Valuation and Other Adjustments Closing balance 1,514,292 1,243, , , , ,387 Accumulated Amortization: AA Site Improvement OB AA Site Improvement Current Year Amortization 801, , ,910 98, ,047 69, ,827 69, ,651 69, ,475 69, AA Site Improvement Disposals 270, , AA Site Improvement Valuation and Other Adjustments Closing balance 922, , , , , ,299 SITE IMPROVEMENT NET BOOK VALUE 591, , , , , ,088 Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 27

28 Business Plan FURNITURE & EQUIPMENT Furniture & Equipment OB 13,608,830 13,261,535 12,182,283 11,977,124 11,391,872 11,237, Furniture & Equipment Transfers from CIP Furniture & Equipment Additions 637, , , , , , Furniture & Equipment Disposals 984,414 1,779, ,159 1,285, ,795 1,910, Furniture & Equipment Valuation and Other Adjustments Closing balance 13,261,535 12,182,283 11,977,124 11,391,872 11,237,077 10,026,884 Accumulated Amortization: AA Furniture & Equipment OB AA Furniture & Equipment Current Year Amortization 6,381,929 1,562,038 6,959,553 1,422,141 6,602,442 1,329,036 7,026,319 1,184,739 6,925,806 1,110,057 7,181,068 1,051, AA Furniture & Equipment Disposals 984,414 1,779, ,159 1,285, ,795 1,910,193 AA Furniture & Equipment Valuation and Other Adjustments Closing balance 6,959,553 6,602,442 7,026,319 6,925,806 7,181,068 6,322,616 FURNITURE & EQUIPMENT NET BOOK VALUE 6,301,982 5,579,841 4,950,805 4,466,066 4,056,009 3,704,268 INFORMATION TECHNOLOGY IT OB IT Transfers from CIP IT Additions IT Disposals IT Valuation and Other Adjustments Closing balance Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 28

29 Business Plan Accumulated Amortization: AA IT OB AA IT Current Year Amortization AA IT Disposals AA IT Valuation and Other Adjustments Closing balance INFORMATION TECHNOLOGY NET BOOK VALUE AIRCRAFT Aircraft OB Aircraft Transfers from CIP Aircraft Additions Aircraft Disposals Aircraft Valuation and Other Adjustments Closing balance Accumulated Amortization: AA Aircraft OB AA Aircraft Current Year Amortization AA Aircraft Disposals AA Aircraft Valuation and Other Adjustments Closing balance AIRCRAFT NET BOOK VALUE OTHER TCA Other TCA OB Other TCA Transfers from CIP Other TCA Additions Other TCA Disposals Other TCA Valuation and Other Adjustments Closing balance Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 29

30 Business Plan Accumulated Amortization: AA Other TCA OB AA Other TCA Current Year Amortization AA Other TCA Disposals AA Other TCA Valuation and Other Adjustments Closing balance OTHER TCA NET BOOK VALUE CONSTRUCTION IN PROGRESS CIP OB CIP Additions Additions AFP projects CIP Capitalized Interest CIP Transfers to Tangible Capital Asset CIP Disposals CIP Valuation and Other Adjustments Closing balance NET TANGIBLE CAPITAL ASSETS 73,018,527 71,795,455 69,074,535 66,485,412 63,958,471 61,477,346 TOTAL ACQUISITIONS (incl. AFP) 1,725,474 2,750,000 1,200,000 1,200,000 1,200,000 1,200,000 TOTAL AMORTIZATION 4,408,726 3,973,072 3,851,096 3,719,299 3,657,117 3,611,301 1 transfers to/from CIP and asset categories must net to zero 2 future use Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 30

31 Business Plan Conclusion The Business Plan for is the collective result of hard work and dedicated efforts at all levels of budget responsibility. The process continues to be very challenging in face of limited alternatives available to solve the gaps between revenues and expenditures. The enclosed plan is responsible and prudent in light of what the College is trying to achieve in the short and medium term. Adequate reserves are being established to mitigate medium term funding challenges incurred by enrolment flatlining in past years. The budget, our business plan, and potential opportunities remain top of mind every day as we undertake our responsibilities of delivering current curriculum in an efficient manner and on a safe, clean and proud campus. Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 31

32 Business Plan Contact Us Cambrian College of Applied Arts and Technology 1400 Barrydowne Road Sudbury, Ontario P3A 3V8 (705) Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 32

33 APPENDIX A Cambrian College s Strategic Plan

34 Business Plan Strategic Plan Cambrian College will Generate Innovative growth By developing distinction in communication and design, health sciences, justice and public safety, mining, and renewable resource management; By building of bridges to advance learning; By strategic recruitment and retention of aboriginal and adult learners; By developing international partnerships for learning and work. Shape Opportunity By continuously renewing our program portfolio to address changing learner and community needs; By offering flexible delivery that enhances accessible continuous learning; By leadership in providing disabilities services to a broad internal and external community; By pursuing applied research that enhances learning, and economic and community development. Foster Success By encouraging personal and professional growth and wellness; By providing an inclusive, safe, and supportive environment for a community of diverse learners; By preparing graduates to exceed professional and workplace standards; By maximizing institutional research, planning and evaluation processes. Learning: Learning is central to our work. Have we identified learners needs and values? Have we created professional development opportunities that support new teaching/learning methods? Have we emphasized learning? Are we generating modules and single course options? Have we removed barriers in our system? Diversity Do we welcome and support learners with varying abilities, ages and world views? Do we offer a range of choices in what and how people learn? Are we inclusive in our practice? Excellence Do we provide high quality learning experiences? Do our graduates get jobs in their chosen fields? Do we evaluate and improve our processes, services and learning opportunities? Do we promote an environment of risk taking? Do we empower peak performance at every level? Community Are we open to new ways of doing and thinking? Do we communicate openly and clearly? Do we foster a spirit of community? Do we promote wellness? Do we build on our strengths and passions? Accountability Do we take a leadership role in promoting social and economic development in our community? Are we responsive to the needs of our communities and business partners? Are we proud of our performance indicators? Do we achieve and surpass benchmarks? These principles guide us: Mission Statement We lead with our commitment to diverse learners. We teach and learn through quality education that responds to the needs of the community. We balance handson experience with the knowledge and skills essential for personal and professional success. 34