Georgian College Business Plan 2009/10

8/14/2019 Georgian College Business Plan 2009/10

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Georgian College

2009-2010Business Plan


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GEORGIANS MISSION

To provide our students with the knowledge, skills and work-related

experience required for successful careers and lifelong learning.

On November 24, 2005, Georgian College's Board of Governor's approved the

2006-2010 Strategic Plan. The Strategic Plan focuses on the further strengthening

of our academic programs, which will be measured through the achievement ofenrolment increases that are above the system averages. To do so, we must:

- remain dedicated to the success of our students;- provide an environment of continuous improvement;- be an agent for public policy and continue to recruit;- develop and retain faculty and staff who are student-centred.

Our Strategic Plan is based on four pillars:


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I. Our Programs

Our 2006-2010 Strategic Plan states: We are dedicated to the success of ourstudents. We are committed to understanding and meeting their learning needs andsupporting their career goals. Our core business, teaching and learning, isorganized around our programs. Our strategic priorities are:

1. To ensure that our academic program mix focuses on programs thatdemonstrate consistently strong demand from both prospective students andemployers, are economically viable, and capitalize on our strengths.

2. To ensure our curriculum is current and relevant, and to internationalize ourcurriculum, where appropriate.

3. To identify academic programs where we have strong and distinctcompetitive advantages, and provide enhanced support and resources to

maximize their potential as centres of excellence.4. To support selected academic programs and initiatives through a coordinated

fundraising effort that involves staff, students and volunteers and adheres toprofessional fundraising standards.

5. To offer a co-ordinated mix of student services that clearly demonstratestheir contribution to student success.

6. To pursue targeted applied research opportunities that capitalize on ourprogram strengths and generate resources to directly support teaching andlearning.


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The 2009-2010 Operational Objectives for Our Programs are:

Operational Objectives Priority Actions External Factors Outcome Measures

Increase enrolments by6.5% for diplomaprograms, 4% forLaurentian Universityprograms, and 5% forapprenticeship programs.

Analyze existingapplication, enrolment andretention trends.

Identify target growthareas.

Develop and implementconversion plans.

Competition from othercolleges, universities,private institutions andnon-college TrainingDelivery Agents forapprenticeship programs.

Changing economy andlabour market.

Enrolment targetsachieved as shown byOCAS audit data fordiploma programs,enrolment reports from theRegistrars Office foruniversity programs and

seat purchase from MTCUfor apprenticeshipprograms.

Increase enrolment inContinuing Education by2%.

Expand ContinuingEducation through avariety of deliverymodels.

Competition from othercolleges and privateinstitutions.

Enrolment targetsachieved as shown throughreports provided byfinancial services;measured by studentcontact hours.

Develop at least 2 newpost-secondary diplomaprograms, and 3 newuniversity partnershipprograms to launch in2010.

Research most viableprograms.

Prepare business case forBoard approval.

Develop program outlines,etc. for CVS approval.

Competition from othercolleges, universities andprivate institutions as wellas online offerings meansincreased choices forpotential students.

Board of Governorsapproval to launch twonew post-secondarydiploma programs.

Develop and modifyprogram review andcurriculum developmentpractices to ensurealignment with criteria thatfacilitate accountabilityand result in Program

Continue to supportincreased availability andprofile of StudentSatisfaction data in aformat that is easier to usefor application inacademic areas.

Low participation ratesfor graduates andemployers for someprograms.

Changing economy andl b k t

Enhanced program reviewand renewal processes.

Improved retention.


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II. Our Performance

Our 2006-2010 Strategic Plan states: We believe that our staff and students wishto excel and contribute to their maximum potential. We must provide anenvironment that promotes continuous improvement if we are to continue to berecognized provincially, nationally and internationally as a leader in postsecondaryeducation.

Our strategic priorities are:

8. To set clear performance goals that are challenging but achievable,demonstrate continuous improvement, measure our results, and holdourselves accountable.

9. To provide timely feedback to staff on their performance.10.

To benchmark Georgian to relevant competitors on key measurements toensure that we are competitive and excel.

11. To manage all College operations in a fiscally responsible manner, toincrease revenues from non-government sources, to build financial reserves,and to plan a balanced or surplus budget every year.

12. To cultivate and nurture relationships with industry and educational partners,donors, alumni, Advisory Committee members, and other communitystakeholders.

13. To be responsive to government priorities and, through our staff, students,


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The 2009-2010 Operational Objectives for Our Performance are:


Achieve $4 million targetin fundraising revenue and$650,000 goal for awardsand scholarships.

Advance the Power ofEducation fundraisingcampaign throughadvocacy, industry andcommunity partnerships,and government support.

Competition forfundraising dollars frommany public sectors;public and corporateresistance to donate in adifficult economy.

Target achieved.

Meet the objectives set outin the Multi-YearAccountability Plan withthe Ministry of Training,Colleges and Universities.

Ensure all parts of theCollege are aware of theirroles in meetingobjectives.

Monitor progress and takecorrective action asrequired.

Funding constraints mayprevent implementationof some initiatives.

As outlined in the Multi-Year Accountability Plan.

Review and containoperating expenses.

Review and revisePurchasing Procedure toensure compliance withthe most current provincialgovernment requirementsfor competitive acquisitionand to ensure value formoney.

Undertake budget reviewsat mid-year and the end of

the third fiscal quarter toensure operating expensesare contained.

None. Purchasing Procedurerevised as necessary.

Budget reviewscompleted.


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III. Our Place

Our 2006-2010 Strategic Plan states: We understand that the College is an agentfor public policy and that we exist to meet a broad base of educational and trainingneeds. We will be responsive to the communities we serve and provide theinfrastructure to do so in an effective manner. Our strategic priorities are:

14. To increase access to higher education pathways for a diverse studentpopulation.

15. To maintain our commitment to workplace experience as a key componentto our students academic development.

16. To capitalize on opportunities to use technology more effectively andefficiently for all College activities.

17. To inform and educate our staff, students and community stakeholders aboutenvironmental issues and to demonstrate our commitment to these issuesthrough our actions.

18. To anchor the geographic territory we serve by ensuring our regionalcampuses remain viable and are based in facilities over which we have long-term control, either through ownership or innovative partnerships.

19. To establish baseline standards for all College facilities and to set andenforce standards for the effective and efficient utilization of all Collegespace.


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The 2009-2010 Operational Objectives for Our Place are:


Provide pathways andtargeted services for non-secondary students, non-traditional students, andstudents from under-represented populations

Continue to launchfoundation programs.

Assess and implementalternative deliverystrategies.

Expand School-College-Work offerings.

Support the provincialSecond Career initiativeand CIITE (CollegesIntegrating Immigrants toEmployment).

Lack of clarity onprovincial funding,including the move toCorridor Funding.

Competition from others,particularly privateinstitutions.

Increased enrolments.

Increase awareness of theUniversity PartnershipCentre in our local

communities, withgovernment decisionmakers, and with potentialpartners

Complete and implementUniversity PartnershipCentre review.

Expansion of theUniversity PartnershipCentre to supportGeorgians uniquedifferentiation.

None. Improved awareness;additional partners.

Establish a permanentcampus in Collingwood.

Prepare business case.

Implement decision of theBoard, includingallocation of resources as

required.

Funding constraints. Business case and, iffeasible, implementationplan.

Establish the Centre forSustainable Technologies,Barrie campus.

Continue to follow theproject managementprocedures established by

Construction materialsnot available.

Contractor delays

Building completed ontime and on budget.


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IV: Our People

Our 2006-2010 Strategic Plan states: A fundamental and unique feature ofGeorgian College is the positive and supportive manner which characterizes ourinteractions with our employees, our students, and our community stakeholders.This friendly, caring atmosphere, combined with our understanding that thesuccess of our students and stakeholders is paramount to our success, serves todifferentiate us from other educational institutions. Our strategic priorities are:

20. To recruit, develop, and retain staff who are student-centred and to providethem with the necessary tools and resources to be successful in their jobs.

21. To actively advance diversity in our workforce and student body.22. To promote work/life balance for all staff.23. To ensure that staff understand their roles and responsibilities as they relate

to broader organizational goals, including the development and maintenanceof strong relationships with industry and educational partners, donors,alumni, Advisory Committee members, and other community stakeholders.

24. To implement strategies that support working collaboratively acrossdepartments within the College.

25. To acknowledge and reward individuals and teams who exceed expectedresults.


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The 2009-2010 Operational Objectives for Our People are:


Develop and implementformal talent managementand succession strategy.

Enhance leadershipdevelopment opportunitiesthrough expanding andtracking participation inthe Aspiring Leadersand GeorgianManagement Institute

programs acrosscampuses.

Continue to monitor andimplement talentmanagement bestpractices across sectors.

Further enhance BoardPolicy IV E - ExecutiveBackup.

Funding constraints. Strategy developed andimplemented.

Increased participation inleadership developmentactivities for all categoriesof staff.

Maintain and promote asafe and healthyenvironment on all campussites for the collegecommunity.

Allocate resources toinitiatives that supportHealth and Safetypriorities.

Oversee compliance withMinistry of Labourregulations for Health andSafety

Create a workplaceculture that places a highpriority on health andsafety

Promote work/life balance

None. Board reports from Healthand Safety that detailobligations, resultsachieved, comparativedata, andrecommendations forcontinuous improvement.

Activity reports fromOrganizational Planning

and Developmentregarding participation inworkplace healthinitiatives.


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Account

Number/

Cluster

Account NameAccount

grouping

GRE

amountClosing balance

Additions /

ReceiptsInterest

Transfer to

Statement of

Operations

Disposal or

Adjustment

Opening

balance

As per Audited

statement

1 Assets 150,198,000

11 Cash and Cash Equivalents 15,872,360 11101 Cash ( including short term Investments) 11101, 11103 15,036,800

11102 Cash in Trust 11102 300,000

11104 Short Term Investment - MTM adj. 11104 -500,000

11220 Inventory and Assets Held for Sale 11205 to 11220, 11305 1,035,560

12 Accounts Receivable 10,000,235

12101 Other Accounts Receivable12101, 12103, 12104, 12199, 12210,

12215 4,539,244

12102 Grants R eceivable 12102 , 12205 5,460,991

Non GRE MTCU 30 5,460,991

GRE amount - Input GRE Number & Name


Insert rows above for add'l GRE's

13 Other Current Assets 800,000 13998 MTM Adjustments - Other Financial Assets 13998

13999 All other current assets, including inventory13105 to 13120, 13901 ,

13999 800,000

14 Other Long Term Assets 11,430,742 141 Other Long Term Assets 8,430,742

14102 Loans and Advances Receivable 14102, 14104 + 13904 8,430,742

14103 Other Long Term Receivables & Assets 14103, 14105, 14199 + 13903 0

Non GRE




143 Investments 3,000,000

14310 Investments Greater than 90 Days < 1 year 14310

14315 Investments - Greater than 1 year 14315 3,000,000

14320 Investments - Mark to Market Adjustment 14320

Ending BalanceAdditions /Receipts

Transfers fromCIP

Disposal orAdjustment

Interest

Capitalized on

CIP

Opening balance

As per Audited

statement

15x02 15x03 or 15106 15x04 /5 15606 15x01

15 Capital Assets 192,394,959 19,184,385 0 -1,000,000 0 174,210,574 151 Land 15101 to 15106 1,225,822 0 1,225,822

152 Site Improvements 15201 to 15205 4,599,499 0 4,599,499

STATEMENT OF FINANCIAL POSITION (Budget & Interim Reporting)FOR COLLEGE: GEORGIAN COLLEGE

FOR THE PERIOD:March 31, 2010

Totals which are formula

driven

input cellPREPARED BY: Michelle O'Gay, Manager - Accounting, July 29, 2009, (705-728-1968 ext. 1064)


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24202 Obligations for Retirement Benefits 24201 to 24211 2,000,000

Additions /

ReceiptsInterest

Transfer to

Statement of

Operations

Disposal or

Adjustment

Opening balance

As per Audited

statement

25 Restricted Contributions 6,316,743 25102 25103 25104 25105 /6 /8 2510125106 Non-GRE 25101 to 25108 (Except 25107) 6,316,743 5,893,430 -26,980 -1,071,689 -621,518 2,143,500

GRE amount - Input GRE Number & NameGRE amount - Input GRE Number & Name


25107 Restricted Contributions - MTM Adjustments 25107

Additions /

ReceiptsInterest

Transfer to

Statement of

Operations

Disposal or

Adjustment

Opening balance

As per Audited

statement

26 Deferred Capital Contributions 62,654,562 26102 26103 26104 26105 /6 /8 26101

26106 Non-GRE 26101 to 26108 (except 26107) 19,240,668 275,291 -1,402,202 20,367,579

GRE amount - Input GRE Number & Name MTCU 30 43,413,894 6,238,140 -2,482,644 39,658,398

GRE amount - Input GRE Number & NameInsert rows above for add'l GRE's

26107 DCC - MTM Adjustments 26107

Debt Acquired Debt Retired

Opening balance

As per Audited

statement

28 Debt 35,468,557 28102 28103 2810128101 Public Debt Excluding Foreign Exchange Gain/28101 to 28103 , + 22105 26,187,140 -1,055,555 27,242,695 0

28202 28203 28201

28201 Non-Public Debt Excluding Foreign Exchange 28201 to 28203, + 22107 9,281,417 4,200,000 -491,702 5,573,119 0

Non GRE




28301 Unamortized Foreign Exchange Gains/Losses 28301

3 Net Asset 2,775,994 31 Unrestricted Net Assets -11,128,868

31101 Unrestr icted Net Assets 31101 1,939,513

31104 Vacation, Sick Leave, Future Employee Benefit31102 + 31103 +31104 -8,068,381

31105 Financial Instruments Adjustment 31105 -5,000,000

31106 Prior Period & Other Adjustments to Equity 31106 + 31107

32 Internally Restricted Net Assets 69,974 32101 Internally Restricted Net Assets 32101 69,974

33 Investment in Capital Assets 9,369,413

33101 Invested in Capital Assets 9,369,413

Receipts Interest DisbursementsTransfers or

Adjustments

Opening balance

As per Audited

statement

34 Endowments 4,465,475 34102 34103 34104 34105 34101

34102 Endowments (other than MTM adjustments) 34101 to 34105 4,465,475 971,610 138,790 -347,159 -275,974 3,978,208 GRE amount Input GRE Number & Name


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AccountNumber

Account Name Accountgrouping

GREAmount

AccountTotal

Sub-ClassTotal

Class Total

4 Revenues 133897039 41 Grant Revenue 56125000

41105 Grants - Operating 41104, 41105 56125000

Non GRE


30 Ministry Training, Colleges and Universities 56125000

Insert rows above for add'l GRE's41106 Grants - Capital 41106 0

Non GRE




41205 Provincial Operating Grant - Repayment of Prior Year 41205 0

Non GRE




41210 Provincial Capital Grants - Repayment of Prior Year 41210 0Non GRE




42 Tuition and Other Student Fees 41992200

42101 Tuition summary 42101 TO 42201 41992200

43 Ancillary Revenue 19276600

43101 Ancillary Revenue summary 43101 to 43299 19276600

49 Other Revenue (Sub-Class) 16503239

49101 Service Fees summary 49101 to 49193 7091800

49201 Donations summary 49201 to 49299 151700

49301 Gain/Loss on Sale of Assets/Inventory 49301 to 49599

49902 Investment/Interest Income 49902, 49906 434200

49903 Revenues Transferred from Restricted Funds 49903

49904 Amortization of Deferred Capital Contributions 49904 5772039

Non GRE 5772039

Revenues

STATEMENT OF OPERATIONS (Budget & Interim Reporting)FOR COLLEGE: GEORGIAN COLLEGE


PREPARED BY: Michelle O'Gay, Manager - Accounting, July 29, 2009, (705-728-1968 ext. 1064)


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Land

Fiscal

Year Funding source

Provincial

Grants

(Capital)

Provincial

Grants

(Operating)

Third Party

Contribution

Third Party

Borrowing

Other

source

Additions

(Value)

Amount to

be

capitalized

Sample FRP 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 100.0000 0.0000

2007-08 0.0000 0.0000

2008-09 0.0000 0.00002009-10 0.0000 0.0000

2010-11 0.0000 0.0000

2011-12 0.0000 0.0000

2012-13 0.0000 0.0000

2013-14 0.0000 0.0000

Construction in Progress

Fiscal

Year Funding source

Provincial

Grants

(Capital)

Provincial

Grants

(Operating)

Third Party

Contribution

Third Party

Borrowing

Other

source

Additions

(Value)

Amount to

be

capitalized

amount to

be

expensed

First

amortized in

(fiscal year)

Amortization

periods

(No. of Years) Additional Comments

Sample FRP 75.0000 2.0000 10.0000 5.0000 8.0000 100.00 90.0000 10.0000 2008-09 40

2007-08 0.00

2008-09 Capital 2,500,000 57620.90 2557620.900 2557620.9 2009-10 40

2008-09 Operating Revenue 1671254 1671254.00 1671254.3 2009-10 5

2008-09 Health 11303.46 11303.46 11303.46 2011-12

2008-09 Defibrillators 37200 37200.00 37200 2009-10 5

2009-10 Capital -2,500,000 -57621 -2557621.00 -2557621 2009-10

2009-10 Defibrillators -37200 -37200.00 -37200 2009-10

2009-10 HRIS -1671254 -1671254.00 -1671254 2009-10

2009-10 Health 11,850,000 575119.73 12425119.73 12425120 2011-12

2010-11 Health 17780000 599744 18379744.00 18379744 2011-12

2011-12 Health -29630000 -1174864.7 -11303.46 -30816168.16 -30816168

2012-13 0.00

2013-14 0.00

Site Improvements

Fiscal

Year Funding source

Provincial

Grants

(Capital)

Provincial

Grants

(Operating)

Third Party

Contribution

Third Party

Borrowing

Other

source

Additions

(Value)

Amount to

be

capitalized

amount to

be

expensed

First

amortized in

(fiscal year)

Amortization

periods


Sample FRP 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 2008-09 40

2007-08 0.0000

2008-09 0.0000

2009-10 0.0000

2010-11 0.0000

2011-12 0.0000

2012-13 0.0000

2013-14 0.0000

Buildings (New buildings and major renovations)

FUNDING ACCOUNTING

Additional Comments


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Fiscal

Year Funding source

Provincial

Grants

(Capital)

Provincial

Grants

(Operating)

Third Party

Contribution

Third Party

Borrowing

Other

source

Additions

(Value)

Amount to

be

capitalized

amount to

be

expensed

First

amortized in

(fiscal year)

Amortization

periods


Sample FRP 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 2008-09 40

2007-08 0.0000

2008-09 0.0000

2009-10 Capital 4,650,000 238,091 1,000,000 11909 5900000.0000 5900000 2009-10 OFA Borrowings (Board Approved)

2009-10 FRP 500,000 500,000

2010-11 0.0000

2011-12 Health 40,000,000 2237890.20 7750000 12109.8 50000000.0000 50000000 2011-12 OFA Borrowings (Not Board Approved

2012-13 0.0000

2013-14 0.0000

Furniture and equipment

Fiscal

Year Funding source

Provincial

Grants

(Capital)

Provincial

Grants

(Operating)

Third Party

Contribution

Third Party

Borrowing

Other

source

Additions

(Value)

Amount to

be

capitalized

amount to

be

expensed

First

amortized in

(fiscal year)

Amortization

periods


Sample FRP 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 2008-09 40

2007-08 0.0000

2008-09 0.0000

2009-10 Capital 800,000 800000.0000 800,000 2009-10 OFA Borrowings (Board Approved)

2009-10 CERF 1,588,140 1588140.0000 1,588,140 2009-10

2009-10 Defibrillators 37,200 37200.0000 37,200 2009-10 Funded through donations

2009-10 0.0000

2010-11 0.0000

2011-12 0.00002012-13 0.0000

2013-14 0.0000

Information Technology (Computer Equipment)

Fiscal

Year Funding source

Provincial

Grants

(Capital)

Provincial

Grants

(Operating)

Third Party

Contribution

Third Party

Borrowing

Other

source

Additions

(Value)

Amount to

be

capitalized

amount to

be

expensed

First

amortized in

(fiscal year)

Amortization

periods


Sample FRP 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 2008-09 40

2007-08 0.0000

2008-09 0.0000

2009-10 HRIS 2,400,000 2400000.0000 2,400,000 2009-10 OFA Borrowings (Board Approved)

2010-11 0.0000

2011-12 0.0000

2012-13 0.00002013-14 0.0000

Other TCA

Fiscal

Year Funding source

Provincial

Grants

(Capital)

Provincial

Grants

(Operating)

Third Party

Contribution

Third Party

Borrowing

Other

source

Additions

(Value)

Amount to

be

capitalized

amount to

be

expensed

First

amortized in

(fiscal year)

Amortization

periods


Sample FRP 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 2008-09 40

2007-08 0.0000

2008-09 0.0000

2009-10 0.0000

2010-11 0.0000

2011-12 0.0000

2012-13 0.0000

2013-14 0.0000


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Fiscal Year

Opening

Balance

accumulated

amortization As

of April-01

Expensed

for the

fiscal year

Retirement

or disposal

Closing

Balance

accumulated

amortization As

of March-31

Amortization on

opening Book

Value

Amortization on

Addition (1/2

year rule)

Amortization on

Disposal (1/2 year

rule)

Amortization

For the year

AccumulatedAmortization B = (Z) C (negative) D=A+B+C W X Y (negative) Z=W+X+Y

2007-08 61697627 7768094 -1910435 67555286

2008-09 67555286 7319039 -1653069 73221256

2009-10 73221256 8079039 -1000000 80300295

2010-11 80300295 8079039 -1000000 87379334

2011-12 87379334 9329039 -1000000 95708373

2012-13 95708373 9329039 -1000000 104037412

2013-14 104037412 9329039 -1000000 112366451

Accumulated Amortization Calculation of In-Year Amortization

STATEMENT OF TCA AMORTIZATION (Budget & Interim Reporting)FOR COLLEGE: GEORGIAN COLLEGE


PREPARED BY:Michelle O'Gay, Manager - Accounting, July 29, 2009, (705-728-1968 ext. 1064)

Georgian College Business Plan 2009/10

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