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Bachelor of Commerce (Digital Marketing) - Postsecondary ...

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Executive Summary<br />

2012/13 Strategic Plan Implementation (cont’d)<br />

Policy Successes Achieved Challenges & Emerging Issues<br />

D-05<br />

Financial<br />

Planning/<br />

D-10<br />

Financial<br />

Condition<br />

(page 34)<br />

D-12 Capital<br />

Projects<br />

(page 41)<br />

‣ The proposed 2012/13 Operating Budget reflects an in-year deficit <strong>of</strong><br />

$1 million with a projected year-end Accumulated Operating Fund<br />

Balance <strong>of</strong> $10.64 million representing 5.4 percent <strong>of</strong> Operating<br />

Revenue.<br />

‣ Cost reductions and additional revenues generated a net savings to<br />

partially <strong>of</strong>fset the excess <strong>of</strong> expenditures over revenues for 2012/13.<br />

There are always a number <strong>of</strong> new developments for which<br />

investment is required to sustain current enrolment levels and<br />

support future growth.<br />

‣ Capital projects continue to unfold largely as expected, on time and<br />

within budget.<br />

‣ While the College takes a conservative approach to<br />

its financial plans, the following are potential areas<br />

<strong>of</strong> risks associated with the 2012/13 operating plan:<br />

o Level <strong>of</strong> Operating Grants<br />

o Other revenue targets<br />

o Government programs<br />

o International revenues<br />

‣ There is little risk associated with about 95 percent<br />

<strong>of</strong> the sources <strong>of</strong> financing.<br />

‣ Some challenges may present as the College seeks<br />

to acquire property for Phase 2 <strong>of</strong> SAPA at fair<br />

market value.<br />

v

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