8/3/2019 Year Financial Forecast
1/28
2004 2005ASSETS
Current assets
Cash & Short-Term Investments 140,321 123,099
Accounts receivable 14,279 16,926
Inventories 1,954 1,673
Prepaid expense 3,770 3,429
160,324 145,127
Investments 212,275 243,380
Property and equipment 414,549 494,560Prepaid Lease
Unamortized debt discount and issue costs 11074 10,785
TOTAL ASSETS 798,222 893,852
LIABILITIES AND NET ASSETS
Current Liabilities
Accounts payable and accrued liabilities 22,476 41,708
Current portion of long-term debt 6,176 6,323
28,652 48,031
Employee future benefits 27,481 30,493
Long Term Debt 162,567 161,735
Deferred Contributions 46,009 39,448
Deferred Contributions for property and equipment 222,121 250,290
Deferred lease proceeds 0 13,754
486,830 543,751
NET ASSETS
Operating -17,120 -18,892Internally restricted for commitments 75,646 88,777
operating
capital, lease, and other
Invested in property and equipment 150,665 164,166
226,311 252,943
Endowment 102,201 116,050
Simon F
8/3/2019 Year Financial Forecast
2/28
311,392 350,101
TOTAL LIABILITIES AND NET ASSETS 798,222 893,852
2004 2005
REVENUE
Government grants and contracts
Province of British Columbia 177,578 175,354
Government of Canada 32,224 48,208
Other governments 1,553 1,684
Tuition - credit courses 83,513 103,741
Non-credit courses 8,595 8,312
Other 6,190 7,330
Sales of goods and services 27,156 31,835
Gifts, grants, and contracts 25,872 22,076
Investment income 14,583 13,509
Amortization of deferred contributions: property & equipment 4,042 8,312
Miscellaneous income 8,453 4,260
389,759 424,621
EXPENSES
Salaries 189,699 203,221
Employee benefits 36,341 36,708
226,040 239,929
Amortization of property & equipment 26,438 29,122
Scholarships, bursaries, & prizes 16,794 21,672
Other operational expenses 18,032 19,213
Travel & personnel expenses 11,311 12,855
Professional fees 14,268 17,938
Materials and supplies 13,513 14,320
Cost of goods sold 8,835 10,177
Interest on long-term debt 8,383 8,749
Contract services 3,965 4,721
Renovations and alterations 5,120 5,569
Utilities 5,058 5,307
Equipment rental and maintenance 3,240 3,448
INCOM
8/3/2019 Year Financial Forecast
3/28
Grants to other agencies 3,099 4,836
Amortization of bond discount 289
Communications 1,331 1,441
365,427 399,586
Net revenue 24,332 25,035
Other useful information
2004 2005
Graduate students enrolled at SFU 3,337 3,190
Undergraduate students at SFU 22,098 23,480
Total enrollment 25,435 26,670
8/3/2019 Year Financial Forecast
4/28
Historical Forecast
2006 2007 2008 2009 2010 2011 2012ok ok ok ok
73,305 33,940 29,426 -136,946 -332,234 -527,853 -747,432
31,050 14,811 16,944 15,878 17,916 18,866 20,090
1,973 2,050 1,563 1,594 1,626 1,659 1,692
3,540 3,484 2,294 2,340 2,387 2,434 2,483
109,868 54,285 50,227 -117,134 -310,306 -504,894 -723,166
265,196 300,635 352,731 289,781 326,959 344,310 366,647
600,693 699,932 767,267 811,089 857,801 886,576 936,7550 3,066 3,127 3,190 3,254 3,319
10,497 0 0 0 0 0 0
986,254 1,054,852 1,173,291 986,864 877,644 729,245 583,554
56,868 43,874 48,923 67,063 69,952 73,636 78,391
8,796 7,345 11,158 7,963 8,042 8,123 8,204
65,664 51,219 60,081 75,025 77,994 81,758 86,595
33,122 34,869 36,729 60,497 62,965 66,568 71,264
159,410 152,560 157,674 159,251 160,843 162,452 164,076
46,664 46,165 58,719 48,297 54,493 57,385 61,108
276,366 324,676 363,776 381,212 403,166 416,691 440,275
14,665 16,710 17,904 18,262 18,627 19,000 19,380
595,891 626,199 694,883 742,544 778,089 803,853 842,697
-20,33195,383
13,881 3,160
41,941 36,619
182,332 225,164 261,727
277,715 280,986 301,506 85,108 -99,459 -293,524 -499,951
132,979 147,667 176,902 159,212 199,015 218,916 240,808
aser University
BALANCE SHEET
8/3/2019 Year Financial Forecast
5/28
390,363 428,653 478,408 244,320 99,555 -74,608 -259,143
986,254 1,054,852 1,173,291 986,864 877,644 729,245 583,554
Historical Forecast
2006 2007 2008 2009 2010 2011 2012
274,280 282,508 299,713 324,140
209,920 203,536 211,811
46,916 62,017 60,941
2,209 1,902 1,528
113,604 118,330 125,450 147,673 156,651 164,578 172,905
7,984 6,894 7,341
8,696 8,774 9,202
36,949 38,048 40,075 41,678 43,345 45,079 46,882
19,555 27,395 25,614 25,614 26,382 27,174 28,533
19,829 20,492 19,185 -23,981 17,986 18,885 19,829
9,208 9,454 10,822 11,038 11,259 11,484 11,714
4,138 4,890 6,536 6,667 6,800 6,936 7,075
479,008 501,732 518,505 482,969 544,932 573,849 611,078
233,436 242,634 258,900 421,953 439,160 464,291 497,045
42,315 45,195 49,387 78,061 81,245 85,894 91,953
275,751 287,829 308,287 500,014 520,404 550,185 588,999
31,758 39,873 41,858 38,637 43,595 45,908 48,886
22,896 23,802 25,828 25,317 26,350 27,857 29,823
22,785 24,734 25,810 25,317 26,350 27,857 29,823
15,745 15,540 17,837 16,878 17,566 18,572 19,882
14,613 16,703 17,683 18,037 18,397 18,765 19,141
17,030 14,595 15,246 15,551 15,862 16,179 16,503
11,092 11,218 12,163 12,659 13,175 13,929 14,911
7,933 6,888 10,316 9,460 9,555 9,651 9,747
7,276 8,226 10,135 10,338 10,544 10,755 10,970
9,751 12,313 8,411 8,579 8,751 8,926 9,104
7,130 6,796 7,801 7,957 8,116 8,278 8,444
3,992 4,620 5,098 5,200 5,304 5,410 5,518
STATEMENT
8/3/2019 Year Financial Forecast
6/28
5,978 4,695 5,018 5,118 5,221 5,325 5,432
288 298 298 304 310 316 323
1,468 0 0 0 0 0 0
455,486 478,130 511,789 699,367 729,500 767,914 817,505
23,522 23,602 6,716 -216,398 -184,567 -194,065 -206,427
Historical Forecast
2006 2007 2008 2009 2010 2011 2012
3,420 3,805 3,981
24,368 25,009 26,332
27,788 28,814 30,313 31,526 32,787 33,770 34,783
8/3/2019 Year Financial Forecast
7/28
2013ok
-989,522
21,624 Confirmed as formulas
1,726 Look for comment
2,533
-963,639
394,632
998,0853,385
0
432,463
84,437
8,286
92,723
77,282
165,717
65,772
469,100
19,767
890,361
-722,786
264,889
8/3/2019 Year Financial Forecast
8/28
-457,898
432,463
2013
357,364
181,654
48,757
29,959
20,821
11,948
7,216
657,721
539,019
99,718
638,737
52,618
32,341
32,341
21,561
19,523
16,833
16,171
9,845
11,190
9,286
8,613
5,629
8/3/2019 Year Financial Forecast
9/28
5,540
329
0
880,556
-222,835
2013
35,827
8/3/2019 Year Financial Forecast
10/28
Simon Fraser University
Ratios and drivers
for the years ended March 31, 2008 Historic
CAD millions 2004 2005 2006 2007 2008
Income statement Confirmed as inputs
Faculty employed at SFU 759 823 871 911 942
Government grants & contracts per faculty member 278,465 273,689 297,411 293,584 291,168FacultyGrowthPercent 8.43% 5.83% 4.59% 3.40%
GovernmentGrantGrowthPercent -1.72% 8.67% -1.29% -0.82%
Students enrolled at SFU 25,435 26,670 27,788 28,814 30,313
Tuition revenue per student 3,865 4,476 4,688 4,650 4,684
StudentEnrollmentGrowthPercent 4.86% 4.19% 3.69% 5.20%
TuitionRevenuePerStudentGrowthPercent 15.83% 4.74% -0.81% 0.73%
Sales of goods & services 27,156 31,835 36,949 38,048 40,075
Gifts, grants, and contracts 25,872 22,076 19,555 27,395 25,614
Investment income 14,583 13,509 19,829 20,492 19,185
SalesofGoods&ServicesGrowthPercent 17.23% 16.06% 2.97% 5.33%
Gifts,Grants,&ContractsGrowthPercent -14.67% -11.42% 40.09% -6.50%
InvestmentIncomeGrowthPercent -7.36% 46.78% 3.34% -6.38%
AmortizationofDeferredContributionsGrowthPercent
MiscellaneousIncomeGrowthPercent
ProfessionalFeesGrowthPercent
Materials&SuppliesGrowthPercent
ContractServicesGrowthPercent
Renovations&AlterationsGrowthPercent
Management Development Associates (NA) Inc. - 21317
8/3/2019 Year Financial Forecast
11/28
Simon Fraser University
Ratios and drivers
for the years ended March 31, 2008 Historic
CAD millions 2004 2005 2006 2007 2008
UtilitiesGrowthPercent
EquipmentRental&MaintenanceGrowthPercent
GrantsToOtherAgenciesGrowthPercent
AmortizationBondDiscountGrowthPercent
InterestonLongTermDebtPercentLongTermDebt 5.16% 5.41% 4.98% 4.51% 6.54%
SalariesExpensePercentofGrant&TuitionRevenue 61.26% 58.97% 59.96% 60.44% 62.19%
BenefitsExpensePercentofSalaries 19.16% 18.06% 18.13% 18.63% 19.08%
ScholarshipExpensePercentofGrant&TuitionRevenue 5.42% 6.29% 5.88% 5.93% 6.20%
OtherExpensePercentofGrant&TuitionRevenue 5.82% 5.57% 5.85% 6.16% 6.20%
TravelExpensePercentofGrant&TuitionRevenue 3.65% 3.73% 4.04% 3.87% 4.28%
AmortizationPercentRevenue 6.78% 6.86% 6.63% 7.95% 8.07%
CostofGoodsSoldPercentofGrant&TuitionRevenue 2.85% 2.95% 2.85% 2.79% 2.92%
Balance sheet
ReceivableDaysSalesBasis 13.37 14.55 23.66 10.77 11.93
InvestmentsPercentRevenues 54.46% 57.32% 55.36% 59.92% 68.03%DisposalsPercentofGrossAssets 2.21% 2.40%
InventoriesGrowthRate
PrepaidExpenseGrowthRate
PrepaidLeaseGrowthRate
PayableDaysExpenseBasis 22.45 38.10 45.57 33.49 34.89
RepaymentofLongTermDebtPercentOpeningLongTermDebt 6.12% 6.13% 8.62% 3.41%
CurrentPortionLongTermDebtPercentageLongTermDebt 3.80% 3.91% 5.52% 4.81% 7.08%
EmployeeFutureBenefitsPercentBenefits 75.62% 83.07% 78.27% 77.15% 77.50%
Management Development Associates (NA) Inc. - 21317
8/3/2019 Year Financial Forecast
12/28
Simon Fraser University
Ratios and drivers
for the years ended March 31, 2008 Historic
CAD millions 2004 2005 2006 2007 2008
DeferredContributionsPercentRevenues 11.80% 9.29% 9.74% 9.20% 11.32%
DeferredContributionsforPropertyandEquipmentPercentPropertyandEquipment 53.58% 50.61% 46.01% 46.39% 47.41%
DeferredLeaseProceedsGrowthRate
EndowmentGrowthRate 13.55% 14.59% 11.05% 19.80%
Management Development Associates (NA) Inc. - 21317
8/3/2019 Year Financial Forecast
13/28
Forecast
2009 2010 2011 2012 2013
942 942 970 999 1,049
291,168 299,903 308,900 324,345 340,5620% 0% 3% 3% 5%
0% 3% 3% 5% 5%
31,526 32,787 33,770 34,783 35,827
4,684 4,778 4,873 4,971 5,070
4.0% 4.0% 3.0% 3.0% 3.0%
0.0% 2.0% 2.0% 2.0% 2.0%
4.0% 4.0% 4.0% 4.0% 4.0%
0.0% 3.0% 3.0% 5.0% 5.0%
-225.0% -175.0% 5.0% 5.0% 5.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
Management Development Associates (NA) Inc. - 21317
8/3/2019 Year Financial Forecast
14/28
Forecast
2009 2010 2011 2012 2013
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
6.0% 6.0% 6.0% 6.0% 6.0%
100.0% 100.0% 100.0% 100.0% 100.0%
18.5% 18.5% 18.5% 18.5% 18.5%
6.00% 6.00% 6.00% 6.00% 6.00%
6.00% 6.00% 6.00% 6.00% 6.00%
4.00% 4.00% 4.00% 4.00% 4.00%
8.00% 8.00% 8.00% 8.00% 8.00%
3.00% 3.00% 3.00% 3.00% 3.00%
12 12 12 12 12
60% 60% 60% 60% 60%2.40% 2.40% 2.40% 2.40% 2.40%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
2.0% 2.0% 2.0% 2.0% 2.0%
35 35 35 35 35
5.00% 5.00% 5.00% 5.00% 5.00%
5.00% 5.00% 5.00% 5.00% 5.00%
77.50% 77.50% 77.50% 77.50% 77.50%
Management Development Associates (NA) Inc. - 21317
8/3/2019 Year Financial Forecast
15/28
Forecast
2009 2010 2011 2012 2013
10.00% 10.00% 10.00% 10.00% 10.00%
47.00% 47.00% 47.00% 47.00% 47.00%
2.0% 2.0% 2.0% 2.0% 2.0%
-10.00% 25.00% 10.00% 10.00% 10.00%
Management Development Associa
8/3/2019 Year Financial Forecast
16/28
2008 2009 2010
Faculty employed 942 942 942
FacultyGrowthPercent 0% 0.00% 0.00%
ForecastFaculty 942 942 942
Grants and contracts per faculty 291,168$ 291,168$ 291,168$GrantGrowthPercent 0% 0.00% 3.00%
ForecastGrantsandContractsPerFaculty 291,168$ 291,168$ 299,903$
ForecastGrantsandContractRevenue 274,280,000$ 282,508,400$
Scenario Summary: forecasted grants and co
Current Values:
Faculty employed$G$4 0.00%
$H$4 0.00%
$I$4 3.00%
$J$4 3.00%
$K$4 5.00%
Grant growth percent$G$8 0.00%
$H$8 3.00%$I$8 3.00%
$J$8 5.00%$K$8 5.00%
Result Cells:$G$11 274,280,000$$H$11 282,508,400$$I$11 299,713,162$$J$11 324,139,784$$K$11 357,364,112$
Notes: Current Values column represents values of chtime Scenario Summary Report was created. Changinscenario are highlighted in gray.scenario are highlighted in gray.
8/3/2019 Year Financial Forecast
17/28
Forecast2011 2012 2013
942 970.26 999.3678 Identified as inputs
3.00% 3.00% 5.00%
970 999 1049
299,903$ 308,900$ 324,345$3.00% 5.00% 5.00%
308,900$ 324,345$ 340,562$
299,713,162$ 324,139,784$ 357,364,112$
tract revenue
Base case Best case Worst case
Created by on
17/05/2009
Modified by on
17/05/2009
Created by on
17/05/2009
Modified by on
17/05/2009
Created by on
17/05/2009
Modified by on
17/05/2009
0.00% 3.00% -3.00%0.00% 3.00% -3.00%3.00% 6.00% 0.00%3.00% 6.00% 3.00%5.00% 8.00% 3.00%
0.00% 3.00% -3.00%
3.00% 5.00% 0.00%3.00% 7.00% 3.00%
5.00% 7.00% 3.00%5.00% 7.00% 3.00%
274,280,000$ 290,983,652$ 258,070,052$282,508,400$ 314,698,820$ 250,327,950$299,713,162$ 356,931,401$ 257,837,789$324,139,784$ 404,831,595$ 273,540,110$357,364,112$ 467,823,392$ 290,198,703$
anging cells atcells for each
8/3/2019 Year Financial Forecast
18/28
2008 2009 2010
Enrollment at SFU 30313 30,313 31,526
EnrollmentGrowthPercent 0% 4.0% 4.0%
ForecastEnrollment 30313 31,526 32,787
Tuition Revenue Per Student at SFU 4,684$ 4,684$ 4,684$
TuitionGrowthPercent 0% 0% 2.0%ForecastTuitionRevenuePerStudent 4,684$ 4,684$ 4,778$
ForecastTuitionRevenue 147,672,720$ 156,651,221$
Scenario Summary: forecasted tuition revenue
Current Values:
Enrollment at SFU$G$4 4.0%$H$4 4.0%$I$4 3.0%$J$4 3.0%$K$4 3.0%
Tuition growth percent
$G$8 2%$H$8 2.0%$I$8 2.0%$J$8 2.0%$K$8 2.0%
Result Cells:
$G$11 150,626,174$$H$11 159,784,246$$I$11 167,869,329$$J$11 176,363,517$$K$11 185,287,511$
Notes: Current Values column represents values of chtime Scenario Summary Report was created. Changinscenario are highlighted in gray.scenario are highlighted in gray.
8/3/2019 Year Financial Forecast
19/28
Forecast2011 2012 2013
32,787 33,770 34,783
3.0% 3.0% 3.0%
33,770 34,783 35,827
4,778$ 4,873$ 4,971$
2.0% 2.0% 2.0%4,873$ 4,971$ 5,070$
164,577,773$ 172,905,409$ 181,654,422$
Base case Best case Worst case
Created by on
17/05/2009
Modified by on
17/05/2009
Created by on
17/05/2009
Modified by on
17/05/2009
0.04
4.0% 6.0% 2.0%4.0% 6.0% 2.0%3.0% 4.0% 0.0%3.0% 4.0% 1.0%3.0% 4.0% 1.0%
0% 2% -2%2.0% 3.0% 0.0%2.0% 5.0% 1.0%2.0% 5.0% 1.0%2.0% 5.0% 1.0%
147,672,720$ 153,522,832$ 141,936,203$156,651,221$ 167,616,228$ 144,774,927$164,577,773$ 183,036,920$ 147,684,903$172,905,409$ 199,876,317$ 150,653,369$181,654,422$ 218,264,938$ 153,681,502$
anging cells atg cells for each
8/3/2019 Year Financial Forecast
20/28
Capital forecasting
Historical
2004 2005 2006 2007 2008 2009
Property and equipment
Gross
At 1st January 808,738 927,376 1,012,245
Acquisitions 139,112 109,193 82,460Disposals (20,474) (24,324) (24,294)
Gross value property and equipment 927,376 1,012,245 1,070,411
Accumulated depreciation
At 1st January 208,045 227,444 244,978Current year's expense 39873 41858 38,637
Disposals (20,474) (24,324) (24,294)
Accumulated depreciation, end of year 227,444 244,978 259,322
Property and equipment, net 699,932 767,267 811,089
Gross Value of property & equipment 2005 2006 2007 2008 2009 2010
Concrete buildings 443,775 535,366 629,937 686,496 741,416 800,729
Wood buildings 21,644 23,294 22,486 22,567 23,470 24,408Site services 25,857 33,011 34,420 35,017 36,418 37,874
Leasehold improvements 11,803 11,902 11,975 11,869 11,952 12,036
Computer equipment 30,633 29,953 28,296 32,494 32,494 32,494
Equipment and furnishings 66,781 82,402 99,522 110,250 126,788 145,806
Library books 64,786 68,493 72,357 76,300 80,115 84,121
Special collections 6,417 6,549 6,574 7,151 7,437 7,735Land and property rights 16,143 17,768 21,809 30,101 34,616 39,809
687,839 808,738 927,376 1,012,245 1,094,705 1,185,011
Estimated growth per year 2005 2006 2007 2008 2009 2010
ConcreteBuildingGrowthPercent 20.64% 17.66% 8.98% 8.00% 8.00%WoodBuildingGrowthPercent 7.62% -3.47% 0.36% 4.00% 4.00%
SiteServicesGrowthPercent 27.67% 4.27% 1.73% 4.00% 4.00%
Management Development
8/3/2019 Year Financial Forecast
21/28
LeaseholdImprovementsGrowthPercent 0.84% 0.61% -0.89% 0.70% 0.70%ComputerEquipmentGrowthPercent -2.22% -5.53% 14.84% 0.00% 0.00%EquipmentandFurnishingsGrowthPercent 23.39% 20.78% 10.78% 15.00% 15.00%LibraryBooksGrowthPercent 5.72% 5.64% 5.45% 5.00% 5.00%SpecialCollectionsGrowthPercent 2.06% 0.38% 8.78% 4.00% 4.00%LandandPropertyRightsGrowthPercent 10.07% 22.74% 38.02% 15.00% 15.00%
2005 2006 2007 2008 2009 2010
Planned capital additionsBuildings
TASC - SurreyRenew Phase 2 - ChemistrySFU Burnaby - Public Safety BuildingSFU Burnaby - Art GalleryTASC 3 - Burnaby
Management Develo
8/3/2019 Year Financial Forecast
22/28
Long term debt
Movement in debt 2004 2005 2006 2007 2008Opening debt 162,567 162,567 161,375 159,410 152,560Interest charge 8749 7933 6888 10316
Repayment 0 9,941 9,898 13,738 5,202Closing debt 162,567 161,375 159,410 152,560 157,674
Management Development Associates (NA) Inc. - 21339
8/3/2019 Year Financial Forecast
23/28
2009 2010 2011 2012 2013157,674 159,251 160,843 162,452 164,076
9,460 9,555 9,651 9,747 9,845
7,884 7,963 8,042 8,123 8,204159,251 160,843 162,452 164,076 165,717
Management Development Associates (NA) Inc. - 21339
8/3/2019 Year Financial Forecast
24/28
Scenario Planning Balance sheet Assumptions
Balance sheet
typeBalance sheet item Assumptions
Cash & Short-Term Investments Adjusted to have assets equal liabiltiies plus net assets
Accounts receivable
Estimate days sales in accounts receivable to be 12 days.
Inventories
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year
Prepaid expense
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year
InvestmentsInvestments estimated to be 60% of revenues
Property and equipment Based on capital forecast
Prepaid Lease
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year
Unamortized debt discount and
issue costs
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at2% per year
Accounts payable and accrued
liabilitiesEstimate days payable to be 35 days.
Current portion of long-term debtEstimate to be 5% of Long term debt
Employee future benefitsEstimated to be 77.5% of Employee Benefits.
Long Term DebtBased on Long term debt forecast
Deferred ContributionsDeferred contributions have historically been around 10% of total
revenues
Deferred Contributions for
property and equipment
Deferred contributions for property and equipment havehistorically been around 47% of net property and equipmentbalance
Deferred lease proceeds
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year
Current assets
Current liabilities
8/3/2019 Year Financial Forecast
25/28
Scenario Planning Revenue Assumptions
Income type Income item Assumptions
Province of British Columbia
BC government announced in December 2008 that provincialfunding would be decreased by 2.6% for all public universities and
colleges. Lower provincial funding should continue into 2010 as the
economy is expected to continue to underperform.
Government of Canada Hiring freeze at SFU will prevent hiring of additional professors.
Other governments
Expect growth rate in grant revenue per faculty member to increase
in 2010 year and beyond as Dr. Pinto's strategic plan starts to bear
fruit.
Funding from all levels of government should increase in 2011 as
the economy should be better by then.
Credit courses
More people tend to attend University when the economy is doing
poorly. The recession is expected to linger on until 2010. New
programs offered at SFU, along with new downtown Vancouver
campus should also attract a greater number of students.
Non-credit courses
Once the economy picks up in the 2011 year, students will be
tempted to leave university and enter the workforce again. The
growth rate for enrollment should thus be expected to decline slightly
in the 2011 year and beyond.
Other
Revenue per student has been pretty constant. Tuition increases
not likely to occur due to their political unpopularity.
Sales of goods and services
Gifts, grants, and contracts
umn an o er con r u ers w ave ess scre onary ncome
due to worsening economic conditions. The amount gifted to SFU
should be expected to continue to decline until the economy shows
Investment income
Loss on investments of between 20-30% is expected for 2009 year
due to worldwide recession. Market expected to rebound in 2010
year.
Amortization of deferred
contributions: property &
equipment
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year
Miscellaneous income
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year
Grand total revenues
Salaries and
employee
benefits
Tuition
Other
8/3/2019 Year Financial Forecast
26/28
Scenario Planning Expense Assumptions
Expense type Expense item Assumptions
SalariesEstimated to be 61.5% of total revenue from government grants a
tuition.
A decrease in salary expenses in the year 2009 compared to 200
to be expected as there is currently a hiring freeze at SFU.
Additionally, 30 faculty and 50 other staff terminations should fruth
reduce salary costs in 2009.
Employee benefits Estimated to be 18.5% of salaries expense
Amortization of property & equipment Estimated to be 8% of total revenues
Scholarships, bursaries, & prizes Estimated to be 6% of revenue from government grants and tuitio
Other operational expenses Estimated to be 6% of revenue from government grants and tuitio
Travel and personnel expenses Estimated to be 4% of revenue from government grants and tuitio
Professional fees
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a2% per year
Materials and suppliesConsistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a
2% per year
Cost of goods sold Estimated to be 3% of revenue from government grants and tuitio
Interest on long term debtInterest charge of 6% of opening long term debt balance reasona
based on past history
Contract servicesConsistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a
2% per year
Renovations and alterationsConsistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a
2% per year
UtilitiesConsistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a
2% per year
Equipment rental and maintenanceConsistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a
2% per year
Grants to other agenciesConsistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a
2% per year
Amortization of bond discount and issues costsConsistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow a
2% per year
Salaries &
wages
8/3/2019 Year Financial Forecast
27/28
Key ratios
2004 2005 2006 2007Return on net assetsNet revenue $24,332 $25,035 $23,522 $23,602
Net assets $311,392 $350,101 $390,363 $428,653
The return on net assets is: 7.81% 7.15% 6.03% 5.51%
CURRENT RATIO
Current Assets $160,324 $145,127 $109,868 $54,285Current Liabilities $28,652 $48,031 $65,664 $51,219
The current ratio is: 5.59556 3.02153 1.67318 1.05986
Physical asset reinvestment ratioAnnual levels of capital expenditures 100,219.00$ 109,133.00$ 137,891.00$ 139,112.00$Depreciation expense 26,438.00$ 29,122.00$ 31,758.00$ 39,873.00$
The physical asset reinvestment ratio is:3.79 3.75 4.34 3.49
Tuition revenue er studentTotal tuition revenue 98,298$ 119,383$ 130,284$ 133,998$Total enrollment 25,435 26,670 27,788 28,814
The tuition revenue per student is: 3,864.67$ 4,476.30$ 4,688.50$ 4,650.45$
Grants and contract revenue per faculty
memberTotal grant and contract revenue 211,355$ 225,246$ 259,045$ 267,455$Faculty members 759 823 871 911
The grant and contract revenue per
faculty member is: 278,465.09$ 273,688.94$ 297,411.02$ 293,583.97$
8/3/2019 Year Financial Forecast
28/28
2008 2009 2010 2011 2012 2013
$6,716 ($216,398) ($184,567) ($194,065) ($206,427) ($222,835)
$478,408 $244,320 $99,555 ($74,608) ($259,143) ($457,898)
1.40% -88.57% -185.39% 260.11% 79.66% 48.66%
$50,227 ($117,134) ($310,306) ($504,894) ($723,166) ($963,639)$60,081 $75,025 $77,994 $81,758 $86,595 $92,723
0.83599 (1.56126) (3.97858) (6.17546) (8.35116) (10.39270)
99,212.00$ 82,459.81$ 90,306.19$ 74,683.11$ 99,064.85$ 113,948.04$41,858.00$ 38,637.49$ 43,594.59$ 45,907.95$ 48,886.26$ 52,617.66$
2.37 2.13 2.07 1.63 2.03 2.17
141,993$ 147,673$ 156,651$ 164,578$ 172,905$ 181,654$30,313 31,526 32,787 33,770 34,783 35,827
4,684.23$ 4,684.23$ 4,777.91$ 4,873.47$ 4,970.94$ 5,070.36$
274,280$ 274,280$ 282,508$ 299,713$ 324,140$ 357,364$942 942 942 970.26 999.3678 1049.33619
291,167.73$ 291,167.73$ 299,902.76$ 308,899.84$ 324,344.84$ 340,562.08$