Georgian College Business Plan 2009/10

Georgian College 2009-2010 Business Plan

To provide our students withthe knowledge, skills, and work-related experience required for successful careers and lifelong learning.

GEORGIAN’S 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 of enrolment 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: • • • •

Our Programs Our Performance Our Place Our People.

This 2009/2010 Business Plan is consistent with this year’s Strategic Priorities.

Georgian College 2009/2010 Business Plan

1

I.

Our Programs

Our 2006-2010 Strategic Plan states: “We are dedicated to the success of our students. We are committed to understanding and meeting their learning needs and supporting their career goals. Our core business, teaching and learning, is organized around our programs. Our strategic priorities are: 1.

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

2.

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

3.

To identify academic programs where we have strong and distinct competitive 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 to professional fundraising standards.

5.

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

6.

To pursue targeted applied research opportunities that capitalize on our program strengths and generate resources to directly support teaching and learning.

7.

To achieve annual enrolment targets in all program areas, supported by the implementation of a comprehensive Enrolment Management Plan.”

Georgian College 2009/2010 Business Plan

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The 2009-2010 Operational Objectives for “Our Programs” are: Operational Objectives

Priority Actions

External Factors

Outcome Measures

Increase enrolments by 6.5% for diploma programs, 4% for Laurentian University programs, and 5% for apprenticeship programs.

Analyze existing application, enrolment and retention trends. Identify target growth areas. Develop and implement conversion plans.

Competition from other colleges, universities, private institutions and non-college Training Delivery Agents for apprenticeship programs.

Enrolment targets achieved as shown by OCAS audit data for diploma programs, enrolment reports from the Registrar’s Office for university programs and seat purchase from MTCU for apprenticeship programs. Enrolment targets achieved as shown through reports provided by financial services; measured by student contact hours. Board of Governors approval to launch two new post-secondary diploma programs.

Changing economy and labour market. Increase enrolment in Continuing Education by 2%.

Expand Continuing Education through a variety of delivery models.

Competition from other colleges and private institutions.

Develop at least 2 new post-secondary diploma programs, and 3 new university partnership programs to launch in 2010.

Research most viable programs. Prepare business case for Board approval. Develop program outlines, etc. for CVS approval. Continue to support increased availability and profile of Student Satisfaction data in a format that is easier to use for application in academic areas. Monitor the inclusion and utilization of KPI data in formal and informal program reviews. Implement comprehensive enrolment management plan based on results of student satisfaction survey, early leavers survey, academic technology survey, etc.

Competition from other colleges, universities and private institutions as well as online offerings means increased choices for potential students.

Develop and modify program review and curriculum development practices to ensure alignment with criteria that facilitate accountability and result in Program Quality Assurance compliance.

Develop retention strategies focused on student engagement.

Georgian College 2009/2010 Business Plan

Low participation rates for graduates and employers for some programs.

Enhanced program review and renewal processes. Improved retention.

Changing economy and labour market.

Competition from other colleges, universities and private institutions.

Improved retention.

Evolving student needs and expectations.

3

II. Our Performance Our 2006-2010 Strategic Plan states: “We believe that our staff and students wish to excel and contribute to their maximum potential. We must provide an environment that promotes continuous improvement if we are to continue to be recognized provincially, nationally and internationally as a leader in postsecondary education. Our strategic priorities are: 8.

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

9.

To provide timely feedback to staff on their performance.

10.

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

11.

To manage all College operations in a fiscally responsible manner, to increase 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 community stakeholders.

13.

To be responsive to government priorities and, through our staff, students, alumni, Advisory Committee members and other community stakeholders, work collaboratively to influence public policy as advocates for Georgian and the college system.”

Georgian College 2009/2010 Business Plan

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The 2009-2010 Operational Objectives for “Our Performance” are: Operational Objectives

Priority Actions

External Factors

Outcome Measures

Achieve $4 million target in fundraising revenue and $650,000 goal for awards and scholarships.

Advance the “Power of Education” fundraising campaign through advocacy, industry and community partnerships, and government support.

Competition for fundraising dollars from many public sectors; public and corporate resistance to donate in a difficult economy.

Target achieved.

Meet the objectives set out in the Multi-Year Accountability Plan with the Ministry of Training, Colleges and Universities.

Ensure all parts of the College are aware of their roles in meeting objectives. Monitor progress and take corrective action as required. Review and revise Purchasing Procedure to ensure compliance with the most current provincial government requirements for competitive acquisition and to ensure value for money.

Funding constraints may prevent implementation of some initiatives.

As outlined in the MultiYear Accountability Plan.

None.

Purchasing Procedure revised as necessary. Budget reviews completed.

Funding constraints may impact performance.

As outlined in the Annual College Scorecard.

None.

Improved engagement and satisfaction levels. Identification of priority areas for Employee Engagement Action Team to address.

Review and contain operating expenses.

Undertake budget reviews at mid-year and the end of the third fiscal quarter to ensure operating expenses are contained. Achieve targets for the annual College Scorecard.

Assess employee satisfaction and engagement; compare results against previous surveys.

Ensure all parts of the College are aware of their roles. Set clear performance goals that are challenging but achievable. Monitor progress and take corrective action as required. Revise survey to address priority areas from 2007 survey; launch 2009 Employee Engagement Survey.

Georgian College 2009/2010 Business Plan

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III. Our Place Our 2006-2010 Strategic Plan states: “We understand that the College is an agent for public policy and that we exist to meet a broad base of educational and training needs. We will be responsive to the communities we serve and provide the infrastructure to do so in an effective manner. Our strategic priorities are: 14.

To increase access to higher education pathways for a diverse student population.

15.

To maintain our commitment to workplace experience as a key component to our students’ academic development.

16.

To capitalize on opportunities to use technology more effectively and efficiently for all College activities.

17.

To inform and educate our staff, students and community stakeholders about environmental issues and to demonstrate our commitment to these issues through our actions.

18.

To anchor the geographic territory we serve by ensuring our regional campuses remain viable and are based in facilities over which we have longterm control, either through ownership or innovative partnerships.

19.

To establish baseline standards for all College facilities and to set and enforce standards for the effective and efficient utilization of all College space.”

Georgian College 2009/2010 Business Plan

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The 2009-2010 Operational Objectives for “Our Place” are: Operational Objectives

Priority Actions

External Factors

Outcome Measures

Provide pathways and targeted services for nonsecondary students, nontraditional students, and students from underrepresented populations

Continue to launch foundation programs. Assess and implement alternative delivery strategies. Expand School-CollegeWork offerings. Support the provincial Second Career initiative and CIITE (Colleges Integrating Immigrants to Employment).

Lack of clarity on provincial funding, including the move to Corridor Funding. Competition from others, particularly private institutions.

Increased enrolments.

Increase awareness of the University Partnership Centre in our local communities, with government decision makers, and with potential partners

Complete and implement University Partnership Centre review. Expansion of the University Partnership Centre to support Georgian’s unique differentiation. Prepare business case. Implement decision of the Board, including allocation of resources as required. Continue to follow the project management procedures established by the College.

None.

Improved awareness; additional partners.

Funding constraints.

Business case and, if feasible, implementation plan.

Construction materials not available. Contractor delays. Labour disputes. Construction materials not available. Contractor delays. Labour disputes. None.

Building completed on time and on budget.

Establish a permanent campus in Collingwood.

Establish the Centre for Sustainable Technologies, Barrie campus. Commence the building of the Health and Wellness Centre, Barrie campus.

Follow the project management procedures established by the College.

Balance the pressure to grow and the capacity to build with fiscal and operating constraints.

Capitalize on opportunities to use technology more effectively and efficiently for all College activities. Develop and implement more efficient processes, including enterprise-wide planning and project management.

Georgian College 2009/2010 Business Plan

Project progress on time and on budget.

Processes implemented.

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IV: Our People Our 2006-2010 Strategic Plan states: “A fundamental and unique feature of Georgian College is the positive and supportive manner which characterizes our interactions with our employees, our students, and our community stakeholders. This friendly, caring atmosphere, combined with our understanding that the success of our students and stakeholders is paramount to our success, serves to differentiate us from other educational institutions. Our strategic priorities are: 20.

To recruit, develop, and retain staff who are student-centred and to provide them 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 maintenance of strong relationships with industry and educational partners, donors, alumni, Advisory Committee members, and other community stakeholders.

24.

To implement strategies that support working collaboratively across departments within the College.

25.

To acknowledge and reward individuals and teams who exceed expected results.”

Georgian College 2009/2010 Business Plan

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The 2009-2010 Operational Objectives for “Our People” are: Operational Objectives

Priority Actions

External Factors

Outcome Measures

Develop and implement formal talent management and succession strategy.

Enhance leadership development opportunities through expanding and tracking participation in the “Aspiring Leaders” and “Georgian Management Institute” programs across campuses. Continue to monitor and implement talent management best practices across sectors. Further enhance Board Policy IV E - Executive Backup. Allocate resources to initiatives that support Health and Safety priorities. Oversee compliance with Ministry of Labour regulations for Health and Safety Create a workplace culture that places a high priority on health and safety Promote work/life balance and individual health and well being.

Funding constraints.

Strategy developed and implemented. Increased participation in leadership development activities for all categories of staff.

None.

Board reports from Health and Safety that detail obligations, results achieved, comparative data, and recommendations for continuous improvement. Activity reports from Organizational Planning and Development regarding participation in workplace health initiatives.

Maintain and promote a safe and healthy environment on all campus sites for the college community.

Georgian College 2009/2010 Business Plan

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STATEMENT OF FINANCIAL POSITION (Budget & Interim Reporting) FOR COLLEGE: GEORGIAN COLLEGE FOR THE PERIOD: March 31, 2010

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

Account Number/ Account Name Cluster

1

Account grouping

GRE amount

Assets

11

Cash and Cash Equivalents

11101 11102 11104 11220

Cash ( including short term Investments) Cash in Trust Short Term Investment - MTM adj. Inventory and Assets Held for Sale

12

Accounts Receivable

12101 12102

Other Accounts Receivable Grants Receivable Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

11104 11205 to 11220, 11305

12101, 12103, 12104, 12199, 12210, 12215 MTCU 30

13999

All other current assets, including inventory

13105 to 13120, 13901 , 13999

Investments Investments Greater than 90 Days < 1 year Investments - Greater than 1 year Investments - Mark to Market Adjustment

Transfers from Disposal or CIP Adjustment

4,539,244 5,460,991

12102 , 12205

13998

143 14310 14315 14320

Additions / Receipts

10,000,235

Other Current Assets

Other Long Term Assets

Interest

15,036,800 300,000 -500,000 1,035,560

11102

MTM Adjustments - Other Financial Assets

Other Long Term Assets Loans and Advances Receivable Other Long Term Receivables & Assets Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

Additions / Receipts

15,872,360 11101, 11103

13

14

Closing balance

5,460,991

800,000 800,000

11,430,742 8,430,742 8,430,742 0

14102, 14104 + 13904 14103, 14105, 14199 + 13903

3,000,000 14310 14315

3,000,000

14320

Ending Balance

15x02

15

Capital Assets

151 152 153 154 155 156 159

Land Site Improvements Building Furniture and Equipment IT Construction in Progress (CIP) Other Capital Assets

192,394,959 15101 to 15106

1,225,822 4,599,499 123,820,132 33,228,466 10,557,626 12,436,423 6,526,991

15201 to 15205 15301 to 15305 15401 to 15405 15501 to 15505 15601 to 15606 15901 to 15905

3,342,379 2,388,140 728,746 12,425,120 300,000

16x02

16

Accumulated Amortization Accum Amort - Site Improve Accum Amort - Bldg Accum Amort - Furniture & Equipment Accum Amort - Info Tech Accum Amort - Other Capital Asset

2

Liabilities

21

Bank Indebtedness

21101

22 22101 22104

22108

22110

Bank indebtedness

16201 to 16204 16301 to 16304 16401 to 16404 16501 to 16504 16901 to 16904

2,557,621 37,200 1,671,254 -4,266,076

16x03 /4

1,000,000

-73,221,256

-194,899 -3,318,906 -2,406,659 -975,130 -1,183,445

0 0 400,000 500,000 100,000

-3,224,656 -38,022,669 -21,464,388 -7,223,961 -3,285,583

22108

0

0 0 0 0 0 0

22109 + 22110 + 22111

23101 to 23109 (Except 23108)

DR - MTM Adjustments

23108

18,985,896 MTCU 30

15,925,813

23102

15,866,777

Interest 23103

5,000

Opening Balance Ending Balance 23201 to 23299, excluding 23281 & 23289

Other Liabilities Other Long Term Liabilities Other Liability from Derivatives - MTM adj.

1,225,822 4,599,499 117,920,132 31,303,126 8,657,626 4,277,379 6,226,991

16x01

-8,079,039

18,528,960 0

Deferred Revenue

24

174,210,574

0 0 0 0 0 0 0

Opening balance Disposals/Adju As per Audited statement stments

-3,419,555 -41,341,575 -23,471,047 -7,699,091 -4,369,028

22104

Non-GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

24199 24106

0

18,528,960

22101 + 22102 + 22103

23

Deferred Tuition Revenue

-500,000 -500,000

Opening balance As per Audited statement 15x01

21101

231

23201

-1,000,000

-80,300,295

Additions / Receipts

23108

0

15x04 /5

Interest Capitalized on CIP 15606

150,198,000 0

Accounts Payable and Accrued Liabilities Accrued Payables, Payroll & Vacation Pay Accrued Interest on Debt Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's Grants Payable and Repayable (GRE) Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's All Other AP & Accrued Payables

15x03 or 15106

19,184,385

Current Year Amort

Ending Balance

162 163 164 165 169

Opening Transfer to Disposal or balance Statement of Adjustment As per Audited Operations statement

150,198,000

13998

141 14102 14103

input cell

3,060,083

8,243,282 24102, 24105, 24199 + 22106 24106

1,243,282 5,000,000

23289

-3,731,710

23281

3,731,710

Transfer to Statement of Operations 23104

-4,237,506

Disposal or Adjustment 23105 /7

Opening balance As per Audited statement 23101

4,291,542

24202

Obligations for Retirement Benefits

24201 to 24211

2,000,000 Additions / Receipts

25

Restricted Contributions

6,316,743

25106

Non-GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

25101 to 25108 (Except 25107)

25107

Restricted Contributions - MTM Adjustments

25107

6,316,743

25102

26 26106

26107

Deferred Capital Contributions

62,654,562

Non-GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

26101 to 26108 (except 26107)

DCC - MTM Adjustments

26107

MTCU 30

19,240,668 43,413,894

26102

28

Debt

35,468,557

28101 to 28103 , + 22105 Public Debt Excluding Foreign Exchange Gain/Loss

26,187,140

28201

28201 to 28203, + 22107 Non-Public Debt Excluding Foreign Exchange Gain/Loss Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

9,281,417

28301

Unamortized Foreign Exchange Gains/Losses

28102 28202

3

Net Asset

31

Unrestricted Net Assets

31101 31104 31105 31106

32 32101

33 33101

4,200,000

Opening balance As per Audited statement

Disposal or Adjustment

26105 /6 /8

26101

-1,402,202 -2,482,644

Debt Retired

20,367,579 39,658,398

Opening balance As per Audited statement

28103

28101

-1,055,555

27,242,695

28203

28201

-491,702

2,143,500

0

5,573,119

0

1,939,513 -8,068,381 -5,000,000

69,974

9,369,413

Invested in Capital Assets

9,369,413 Receipts

34

Endowments

34102

Endowments (other than MTM adjustments) GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

34101 to 34105

34106

Endowment Contribution - MTM Adjustments

34106

Externally Restricted Net Assets

26104

-621,518

69,974 32101

Investment in Capital Assets

Externally Restricted Net Assets

Transfer to Statement of Operations

25101

-11,128,868

Internally Restricted Net Assets

35

26103

-1,071,689

25105 /6 /8

2,775,994

Unrestricted Net Assets Vacation, Sick Leave, Future Employee Benefit 31102 + 31103 +31104 31105 Financial Instruments Adjustment 31106 + 31107 Prior Period & Other Adjustments to Equity

35101

Interest

25104

Opening balance As per Audited statement

Disposal or Adjustment

28301

31101

Internally Restricted Net Assets

-26,980

275,291 6,238,140

Debt Acquired

28101

25103

5,893,430

Additions / Receipts

Transfer to Statement of Operations

Interest

4,465,475 4,465,475

0 35101

END OF STATEMENT OF FINANCIAL POSITION

0

34102

971,610

Interest

Disbursements

Transfers or Adjustments

34103

34104

34105

138,790

-347,159

-275,974

Opening balance As per Audited statement 34101

3,978,208

STATEMENT OF OPERATIONS (Budget & Interim Reporting) FOR COLLEGE: GEORGIAN COLLEGE FOR THE PERIOD: March 31, 2010 PREPARED BY: Michelle O'Gay, Manager - Accounting, July 29, 2009, (705-728-1968 ext. 1064) Account Account Name Number

Account grouping

GRE Amount

Account Total

Sub-Class Class Total Total

Revenues 4

Revenues

41 41105

Grant Revenue Grants - Operating Non GRE GRE amount - Input GRE Number & Name 30 Ministry Training, Colleges and Universities Insert rows above for add'l GRE's Grants - Capital Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's

41106

41205

Provincial Operating Grant - Repayment of Prior Year

133897039 56125000 41104, 41105

56125000

56125000 41106

0

41205

0

41210

0

Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's 41210

Provincial Capital Grants - Repayment of Prior Year

49905

Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's Tuition and Other Student Fees Tuition summary Ancillary Revenue Ancillary Revenue summary Other Revenue (Sub-Class) Service Fees summary Donations summary Gain/Loss on Sale of Assets/Inventory Investment/Interest Income Revenues Transferred from Restricted Funds Amortization of Deferred Capital Contributions Non GRE GRE amount - Input GRE Number & Name GRE amount - Input GRE Number & Name Insert rows above for add'l GRE's Unrealized gain/loss - MTM Adjustment

49999

Other Revenue (general) summary

42 42101 43 43101 49 49101 49201 49301 49902 49903 49904

41992200 42101 TO 42201

41992200

43101 to 43299

19276600

19276600 16503239 49101 to 49193

7091800 151700

49201 to 49299 49301 to 49599 49902, 49906

434200

49903 49904

5772039 5772039

49905 49901,49907, 49908, 49999

3053500

Expenses 5

Expenses

51 51201 52

Salaries & Wages Salaries & Wages Employee Benefits

52201 52231 52901 53 53101 53111 55 55101 55201 55301 56 56101 56201 58 58101 59 59203 59301 59401 59902 59905 59906 59999

Employee Benefits Benefits - CAAT Pension contributions Employee Future Benefits Supplies & General Admin Supplies & General Admin summary Interest on other than debt Utilities, Maintenance and Taxes Utilities summary Maintenance summary Taxes summary Furniture & Equipment Furniture/Equipment Purchases Furniture/Equipment Rentals Ancillary Services - Expenditures Ancillary Services - Expenditures summary Other Expense Flow-Through Expenditures summary Amortization - Long Term Assets Other Contract Services summary Student Assistance summary Long Term Debt Interest Marked to Market - Loss Other Miscellaneous Expenses summary

(Surplus)/Deficit

138645839 74009500 51101 to 51320

74009500 13511400

52101 to 52339 (Exclude 52131, 52231, 52331) 52131, 52231, 52331 52901 to 52905

12648900 53101 to 53199 (Exclude 53111)

12648900

53111

9830100 55101 to 55114 55201 to 55231 55301 to 55303

4420400 5403900 5800 2108000

56101 to 56109 56201 to 56209

1410600 697400

58101 to 58299

7402900

59201 to 59204

2045800 8079039 3540500 2757400 1715200

7402900 19135039 59301, 59302 59401 to 59403 59902, 59903, 59904 59905 59906 59999

Class totals (5 - 4)

END OF STATEMENT OF OPERATIONS

997100

4748800

FUNDING

ACCOUNTING

Land

Fiscal Year Sample

Funding source FRP

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

Provincial Provincial Amount to Grants Grants Third Party Third Party Other Additions be (Capital) (Operating) Contribution Borrowing source (Value) capitalized Additional Comments 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 100.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000

0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000

Construction in Progress

Fiscal Year Sample

Funding source FRP

2007-08

2008-09 2008-09 2008-09 2008-09 2009-10 2009-10 2009-10 2009-10 2010-11 2011-12 2012-13 2013-14

Capital Operating Revenue Health Defibrillators Capital Defibrillators HRIS Health Health Health

Provincial Provincial Amount to amount to Grants Grants Third Party Third Party Other Additions be be (Capital) (Operating) Contribution Borrowing source (Value) capitalized expensed 75.0000 2.0000 10.0000 5.0000 8.0000 100.00 90.0000 10.0000 0.00

2,500,000

57620.90 1671254 11303.46 37200

-2,500,000

-57621 -37200 -1671254

11,850,000 17780000 -29630000

575119.73 599744 -1174864.7

-11303.46

2557620.900 2557620.9 1671254.00 1671254.3 11303.46 11303.46 37200.00 37200 -2557621.00 -2557621 -37200.00 -37200 -1671254.00 -1671254 12425119.73 12425120 18379744.00 18379744 -30816168.16 -30816168 0.00 0.00

First Amortization amortized in periods (fiscal year) (No. of Years) Additional Comments 2008-09 40

2009-10 2009-10 2011-12 2009-10 2009-10 2009-10 2009-10 2011-12 2011-12

40 5 5

Site Improvements

Fiscal Year Sample

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

Funding source FRP

Provincial Provincial Amount to amount to Grants Grants Third Party Third Party Other Additions be be (Capital) (Operating) Contribution Borrowing source (Value) capitalized expensed 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000

Buildings (New buildings and major renovations)

First Amortization amortized in periods (fiscal year) (No. of Years) Additional Comments 2008-09 40

Fiscal Year Sample

Funding source FRP

2007-08 2008-09 2009-10 Capital 2009-10 FRP 2010-11 2011-12 Health 2012-13 2013-14

Provincial Provincial Amount to amount to Grants Grants Third Party Third Party Other Additions be be (Capital) (Operating) Contribution Borrowing source (Value) capitalized expensed 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 0.0000 0.0000 4,650,000 238,091 1,000,000 11909 5900000.0000 5900000 500,000 500,000 0.0000 40,000,000 2237890.20 7750000 12109.8 50000000.0000 50000000 0.0000 0.0000

First Amortization amortized in periods (fiscal year) (No. of Years) Additional Comments 2008-09 40

2009-10

OFA Borrowings (Board Approved)

2011-12

OFA Borrowings (Not Board Approved)

Furniture and equipment

Fiscal Year Sample

Funding source FRP

2007-08 2008-09 2009-10 Capital 2009-10 CERF 2009-10 Defibrillators 2009-10 2010-11 2011-12 2012-13 2013-14

Provincial Provincial Amount to amount to Grants Grants Third Party Third Party Other Additions be be (Capital) (Operating) Contribution Borrowing source (Value) capitalized expensed 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 0.0000 0.0000 800,000 800000.0000 800,000 1,588,140 1588140.0000 1,588,140 37,200 37200.0000 37,200 0.0000 0.0000 0.0000 0.0000 0.0000

First Amortization amortized in periods (fiscal year) (No. of Years) Additional Comments 2008-09 40

2009-10 2009-10 2009-10

OFA Borrowings (Board Approved) Funded through donations

Information Technology (Computer Equipment)

Fiscal Year Sample

Funding source FRP

2007-08 2008-09 2009-10 HRIS 2010-11 2011-12 2012-13 2013-14

Provincial Provincial Amount to amount to Grants Grants Third Party Third Party Other Additions be be (Capital) (Operating) Contribution Borrowing source (Value) capitalized expensed 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 0.0000 0.0000 2,400,000 2400000.0000 2,400,000 0.0000 0.0000 0.0000 0.0000

First Amortization amortized in periods (fiscal year) (No. of Years) Additional Comments 2008-09 40

Provincial Provincial Amount to amount to Grants Grants Third Party Third Party Other Additions be be (Capital) (Operating) Contribution Borrowing source (Value) capitalized expensed 75.0000 2.0000 10.0000 5.0000 8.0000 100.0000 90.0000 10.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000

First Amortization amortized in periods (fiscal year) (No. of Years) Additional Comments 2008-09 40

2009-10

OFA Borrowings (Board Approved)

Other TCA

Fiscal Year Sample

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

Funding source FRP

STATEMENT OF TCA AMORTIZATION (Budget & Interim Reporting) FOR COLLEGE: GEORGIAN COLLEGE FOR THE PERIOD: March 31, 2010 PREPARED BY: Michelle O'Gay, Manager - Accounting, July 29, 2009, (705-728-1968 ext. 1064) Accumulated Amortization Opening Balance Expensed Fiscal Year accumulated for the amortization As fiscal year of April-01 Accumulated Amortization 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14

61697627 67555286 73221256 80300295 87379334 95708373 104037412

B = (Z) 7768094 7319039 8079039 8079039 9329039 9329039 9329039

Calculation of In-Year Amortization

Closing Balance Retirement accumulated or disposal amortization As of March-31 C (negative) D=A+B+C -1910435 -1653069 -1000000 -1000000 -1000000 -1000000 -1000000

67555286 73221256 80300295 87379334 95708373 104037412 112366451

Amortization on Amortization on Amortization on Amortization opening Book Addition (1/2 Disposal (1/2 year For the year Value year rule) rule)

W

X

Y (negative)

Z=W+X+Y