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

D. Financial Planning/Financial Condition (Policy D-05, D-10)
D.3 Risks (cont’d)
2) Enrolment Targets - The proposed 2012/13 Operating Budget contains substantial
revenues based upon enrolment projections. There are always uncertainties regarding
enrolment levels, and some targets may not be achieved while others may be exceeded.
Based on past outcomes, the overall risk associated with enrolment levels is not significant.
International student enrolments and revenues are affected by global events in other parts
of the world and are difficult to predict. Given the current world economic situation, the
proposed budget has conservatively assumed the maintenance of international activity
levels experienced during 2011/12. The 2012/13 budget includes international revenues
(both post-secondary and ESL) totaling $14.5 million, which reflects an increase of 6 percent
from revenue levels achieved in 2011/12, as a result of tuition fee increases and some
modest enrolment increases.
3) Other Revenue Targets -There are many revenue estimates in the 2012/13 Operating
Budget, some of which may not be realized. Revenues involving higher levels of risk
include contract training and apprentice revenues. A conservative approach has been taken
regarding these sources of revenue, which results in a reduction in the projected amount of
contract training and apprentice revenues relative to 2011/12.
4) Government Programs - Confirmation of projected revenues related to some government
sponsored programs (e.g. Literacy and Basic Skills) has not yet been received, so there is
some risk that revenues may not continue at the same levels as in the past. However, there
are opportunities for the College to respond to such changes by adjusting expenditures
accordingly.
5) Salary Costs - The Faculty Collective Agreement expires August 31, 2012. This budget
includes estimates only of potential future impacts.
- 40 -