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

D. Financial Planning/Financial Condition (Policy D-05, D-10)
NOTES:
a) Accumulated Operating Fund Balance, Opening
D.2 Financial Projections (cont’d)
The Operating Fund Balance carried forward from 2011/12 is expected to be approximately
$11.644 million. This figure includes an estimated surplus of $3.3 million from 2011/12 and
the $3 million contingency that had been carried forward from 2009/10. The College’s
financial statements are audited annually, and the Accumulated Operating Fund Balance for
2011/12 will be updated and reported to the Board when the financial statements are
complete. It is anticipated that the Accumulated Operating Fund balance will return to a
more normal level of approximately 2 percent of operating revenues beginning with the
2015/16 fiscal year.
Revenues
2012/13 Operating Revenues
b) Government Grants 96,910 49.4%
c) Enrolment Revenue 67,690 34.5%
d) Ancillary Revenue 23,990 12.2%
e) Other Revenue 7,450 3.8%
Total revenue 196,040
2012/13 Operating Revenues
Government Grants
Enrolment Revenue
Ancillary Revenue
Other Revenue
b) Government Grants - Includes all grants received from the Provincial and Federal
Governments, such as base operating grants, apprentice revenue based on training
agreements with the Provincial Government, government sponsored programs such as
Literacy and Basic Skills (LBS), Employment Services and Summer Jobs Services (SJS),
Accessibility Funding, etc. Since details of the 2012/13 operating grants are unknown at
this time, this proposed budget includes estimates. Grant allocations over the last few years
have tended to be volatile. Consequently, estimates in this proposed budget are relatively
conservative. The decrease in expected grants from the Second Career Employment
Insurance program and the timing in the recognition of research grants are the primary
reasons for the 2.8 percent reduction in Government Grants reflected in these projections.
c) Enrolment Revenue - Includes all fees collected from students, such as tuition and related
ancillary fees. The tuition portion for domestic students was projected based on the tuition
policy released by the Ministry as a one year extension of the past policy. Total tuition is
projected to increase by approximately 5 percent resulting from an overall increase in tuition
rates for all programs funded through the operating grant. Domestic post-secondary
enrolment projections are currently set as relatively flat (an increase of 0.6 percent)
acknowledging the impact of demographic shifts and in some specific cases space
constraints that limit the ability to grow enrolments in a significant way. Expanded alternate
delivery options are being explored to identify other growth alternatives, but these are
tentative and thus not included in current budget projections. In addition international tuition
revenues have been projected to increase by approximately $0.9 million.
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