lambton college · burgeoning bio-based industry is taking hold in the area with a number of...

Business Plan and Budget

2014-2015

Approved

by

Board of Governors

April 24, 2014

LAMBTON COLLEGE Business Plan and Budget

2014-2015 Approved by the Board of Governors

April 24, 2014

TABLE OF CONTENTS

EXECUTIVE SUMMARY

1.0 LAMBTON COLLEGE STRATEGIC PLAN 1.1 Vision 1.2 Mission 1.3 College Priorities

2.0 ENVIRONMENTAL SCAN 2.1 Provincial Funding 2.2 Enrolment 2.3 Tuition and Fees 2.4 Staffing 2.5 Compensation 2.6 Contract Services 2.7 Research 2.8 Apprenticeship 2.9 International 2.10 Employment Programs 2.11 School to College to Work Initiative 2.12 Fundraising

3.0 BUDGET SUMMARY

4.0 2014-2015 DRAFT BUDGET

Page No.

3

5 5 5

6 7 7 7 8 8 8 9 9 9

10 10

11

12

Lambton College Business Plan and Budget 2014-15

LAMBTON COLLEGE

BUSINESS PLAN AND BUDGET

2014-2015

1.0 EXECUTIVE SUMMARY

The Province of Ontario continues to face serious economic challenges. The current annual Provincial deficit has climbed to $11. 78, with the accumulated deficit forecast to reach $178.98. With Provincial net debt of $2728, annual debt servicing cost of $10.68 is imposing significant strain on provincial cash flows.

With an objective of elimination of the deficit by the end of fiscal 2017-18, the Province is compelled to exercise strenuous fiscal restraint. In the post-secondary education sector, this has resulted in imposition of measures to limit funding, such as reduction of 0.9% in per student grant funding for a second year and charges to institutions such as the international student recovery charge on international enrolment. As a result, public colleges in Ontario continue to be the lowest funded of all provinces in Canada.

Colleges Ontario estimates that Ontario colleges will face a funding gap of $109M in 2014-15, despite 3% tuition increases allowed under current Ministry tuition policy. Capital funding has also been constrained. The government has indicated that its plan to construct three new satellite university/college campuses will preclude funding of any other post-secondary capital projects over the following decade. Serious concern exists regarding deteriorating condition of facilities across the base of existing college assets, and the chronic and significant underfunding of critical deferred maintenance projects which confront Ontario colleges.

During 2013-14 the Province funded a number of college and university projects aimed at improving productivity in academic delivery and enhancing access to online programming. Lambton College received $51 OK of this Productivity Improvement Funding which concluded at the end of the fiscal year. Also awarded in 2013-14 were Financial Health & Stability grants, aimed at smaller institutions, to implement projects to improve administrative efficiency. This funding, spanning two fiscal years, delivered $899K to Lambton College, with $454.5K to be received in 2014-15.

Late in 2013 the Province announced plans to develop Strategic Mandate Agreements (SMA) with all provincial colleges and universities. Institutions were required to define areas of strategic importance and major academic program focus. Metrics were defined, against which institutions will be measured. Approval of new academic program applications has been suspended by the Ministry until completion of the SMAs.

In the absence of Provincial budget announcements, the College budget has been based on previously reported programs, and the assumption of continued or expected funding for existing initiatives.


Enrolment in Ontario Colleges is expected to continue to grow, although the rate of expansion will moderate in 2014-15 to approximately 2% over the previous year. Provincial apprenticeship and employment programs are expected to continue unaffected, after months of uncertainty related to the effect of a new Canada Job Grant. After protracted negotiations, an agreement was reached between the Federal Government and the Provinces that enable Provinces to fund a required $300M toward the Job Grant from any of the $2.5B in training-related federal transfers to the provinces. The Canada Job Grant will be launched in July 2014.

International students continue to demonstrate strong interest in pursuing educational opportunities in Canada. Lambton College continues to contribute to the achievement of the goals of both the Federal government and the Province of Ontario to attract greater numbers of international students.

Provincial unemployment remains high at 7.9%. The most current statistics for the Sarnia-Lambton area demonstrate a local unemployment rate 1.2% higher than that of the Province. An anticipated project to construct a liquefied natural gas processing facility at the Shell Corunna plant has been indefinitely postponed, negatively impacting the local construction industry. In late 2013 NOVA Chemicals delayed a decision regarding the location of a $1 B world-scale polyethylene facility, hoped to be located in Sarnia-Lambton. The company did commence a four year, $300M expansion of its existing local ethylene and polyethylene facilities and conversion of its processing facilities to enable use of natural gas liquids as feedstock at its Corunna facility. A burgeoning bio-based industry is taking hold in the area with a number of start-up companies, most notably BioAmber, choosing to locate in Sarnia-Lambton.

Research plays a growing role in Ontario colleges, and has had a marked effect on the profile of Lambton College. Important five-year grant funding acquired in 2013-14 enabled significant projects to proceed, such as Bluewater Technology Access Centre, the Lambton Water Centre, and a second Industrial Research Chair. Work on these projects impact this budget

The 2014-15 Budget and Business Plan continues toward achievement of goals laid out in the College's Strategic Plan 2013-2018. Significant effort aimed at development of a new Centre for Health Education and Sustainable Care, as well as new athletic and recreational facilities, will continue in the coming year. The College will pilot a number of academic programs as part of the launch of its "Mobile Learning: A Class+ Experience" program.

The Lambton College Business Plan and Budget 2014-2015 anticipates an in-year deficit of $124,300 including a contingency of $500,000. This Business Plan and Budget will enable the College to serve a diverse student body and extensive group of community partners in a flexible and cost-effective manner, while building the framework for achievement of the goals of the Lambton College Strategic Plan 2013-2018.

As defined in the proposed Strategic Mandate Agreement, Lambton College plays a strong role in Sarnia-Lambton and the Province of Ontario, providing comprehensive education and specialized programs that meet the needs of students while supporting the economic development and prosperity of the region and the province.

Lambton College Page4 Business Plan and Budget 2014-15

LAMBTON COLLEGE

BUSINESS PLAN AND BUDGET

2014-2015

1.0 LAMBTON COLLEGE STRATEGIC PLAN

1.1 Vision

Lambton College fosters innovation and entrepreneurship among our faculty, staff, and students - and in the local and global communities we serve. As the sole provider of higher education in our region, we remain committed to providing teaching and learning excellence in a broad range of program offerings, and a full range of credentials. We will enhance the student experience and learning outcomes by becoming a mobile learning college. In particular, we will distinguish ourselves amongst all Canadian colleges by leveraging our unique strengths to become a global leader in education and applied research in the areas of Energy & Bio-Industrial Technology, and Fire & Public Safety.

1.2 Mission

Lambton College is committed to student and community success. We achieve our mission through quality teaching and an innovative learning environment that:

• provides relevant, accessible, value added programs and services that engage and develop the whole student.

• proactively addresses the needs of a constantly changing labour market. • supports community & economic development through innovative

partnerships and applied research initiatives.

1.3 College Priorities

We will realize our vision and fulfill our mission by achieving results and measuring our success in:

1.0 Enhance the Student Experience 2.0 Establish a Centre of Excellence in Energy & Bio-Industrial Technologies 3.0 Enhance Our Centre of Excellence in Fire & Public Safety 4.0 Provide Students with Innovative and Flexible Learning Options 5.0 Partner with Industry, the Community, and Other Post-Secondary Institutions 6.0 Renew our Campus Environment

Plans and new initiatives contained in Business Plan and Budget 2014-15 are directed at fulfilling the strategic priorities of Lambton College.


2.0 ENVIRONMENTAL SCAN

2.1 Provincial Funding

The Province of Ontario has not yet brought forward a Spring Provincial Budget. The province's $11.7 B deficit will prove challenging to development of the budget. Further cuts to operating funding and very limited capital spending are expected to impact all public services in the Province in coming years.

Funding for post-secondary education will decline again in 2014-15. For a second year a reduction of 0.9% in grant funding, from $4,317/WFU to $4,277/WFU, will be imposed, affecting 2014-15 funding.

Operating funding increases by a total of $501,400 over 2013-14. The Base General Purpose Operating Grant (GPOG) declines to $12,856,600, a further reduction of $118,900 from the previous year, due to the cut to per student funding. Enrolment Growth funding, based on past enrolment levels, is estimated at $3,017,800. This represents $620,300 over 2013-14.

Second Career funding is assumed to decline by $125,800 as the number of students funded by this program is expected to decline.

Co-Op Diploma Apprenticeship (CODA) program funding declines modestly as a slight reduction in enrolment is forecast.

Grant funding for Bachelor of Science - Nursing students will also decline by 0.9% per student, resulting in a slight loss of grant revenue, based on constant enrolment in this program.

The Northern/Rural Grant of $4, 160, 700 has remained at the same level for many years.

The capital instructional equipment grant is assumed to remain at the 2013-14 level of $163,200. The facility renewal fund grant was lowered to $176,200 in 2011-12, and is expected remain at that reduced level for 2014-15.

As one of the earliest participants in the School to College to Work Initiative (SCWI), Lambton College served students from a broad region of south western Ontario. Over the past year, based on the success of the SCWI program, the Ministry of Education encouraged all provincial school boards to participate with their local college. As a result, enrolment in Lambton College's SCWI program declined in 2013-14 and will continue to moderate in 2014-15 as students are directed to institutions closer to home. Grant funding will decline, from $2,176,400 in 2013-14to $1,762,200 in 2014-15, a reduction of $208,400.

In 2013-14 the International Student Recovery Fee (ISRF) of $750 per student was imposed on first year International students enrolled in post-secondary programs on Ontario college campuses. The ISRF is being phased in, now assessed on Years 1 and 2 students. Implementation of an ISRF on off-shore students is not being pursued by government at this time.

Lambton College Page6 Business Plan and Budget 2014-15

Late in 2013-14 a two-year Financial Health and Stability Grant affecting eleven smaller institutions was announced. Lambton College will receive the second instalment of $454,500 in 2014-15. This grant must be expended in-year to fund projects aimed at delivering administrative system efficiencies.

A one-time grant of $500,000 from the Productivity and Innovation Fund that was received in 2013-14 results in a reduction of revenue and expenditure in 201415.

2.2 Enrolment

Full-time enrolment growth at Ontario post-secondary institutions continues to slow from the aggressive pace of recent years. Total enrolment at all postsecondary institutions across the province is expected to increase by approximately 2% over 2013-14.

Lambton College's total full-time post-secondary enrolment for Fall 2014 is budgeted at 3,292, a 0.8% decrease from Fall 2013-14 enrolment of 3,319 fulltime students.

Included in this enrolment is a decline of 30 Second Career students, with 171 students expected in Fall 2014-15.

International student enrolment on campus declined overall, with 2014-15 postsecondary program enrolment of 174 versus 231 students in 2013-14. International students enrolled in Board of Governors certificate programs increase to 99 students, a marginal increase from the 2013-14 level.

2.3 Tuition and Fees

Tuition levels will increase by 3% for all post-secondary programs, as authorized by MTCU Tuition and Compulsory Ancillary Fees policy.

Compulsory ancillary fees, including fees imposed by the Students Administrative Council, have increased an average of 2.66% over the previous year.

2.4 Staffing

The budget includes two faculty additions to complement, required to support budgeted enrolment.

Closure of the Child Care Centre in July 2014 will result in elimination of eight support staff positions. Two Child Care employees were already filling vacancies in other departments. One staff member has elected to retire. Following constructive discussions with the Support Staff Union, a plan has been developed that will result in five Child Care employees assigned to new positions requested in this budget or to existing vacant positions for which they are appropriately qualified. The Manager of the Child Care Centre will be reassigned . As a result, no Child Care staff will involuntarily leave the College.


Three new support staff positions are proposed, replacing part-time positions. Five Initiatives and Opportunities positions are proposed, all of which are either fully or partially funded by various revenue grants, or replace part-time staff expense.

One new administrative position is requested, representing a secondment from support staff.

Overall, a net of two new positions are added to the staffing complement.

2.5 Compensation

Both the faculty and support staff collective agreements conclude on August 31, 2014.

Legislative changes to the BPS Executive Compensation Act are currently proposed by government.

With no available information regarding compensation terms for any of the College's three employee groups, this budget contains a contingency for potential compensation costs.

Movement through the range for all employee groups has been estimated in this budget.

2.6 Contract Services

Corporate training continues to be challenging. The creation in 2013-14 of a new Learning and Training Solutions department and addition of a new Manager brought focus to this area.

Marketing of many exciting new fire training programs and courses together with other corporate training offerings create important synergies, generating opportunities for both existing and new commercial and municipal clients. Introduction of new marine and aviation scenarios will open new markets, as will public security training courses. This will be an area of significant focus over the next twelve months.

2.7 Research

Three major new grant awards during 2013-14 altered the landscape for research at Lambton College.

Development of the Bluewater Technology Access Centre, the Lambton Water Centre and installation of a new Industrial Research Chair for Colleges elevated the profile of Lambton College to new heights. Already ranked sixth among Ontario colleges in research activity, these grants establish Lambton as an important research asset in the Province of Ontario.


This Budget and Business Plan reflects significant growth in activity, as these new five year grants ramp up, and existing grants continue to the completion of these projects. Revenue increases in excess of $1.1 M over the previous year.

2.8 Apprenticeship

Delivery of apprenticeship training is anticipated to increase.

Increases in enrolment in the Steamfitter, Carpenter and Electrician as well as Arborist programs are somewhat offset by lack of demand for Hairstylist and Cook apprenticeship training in 2014-15.

The Instrumentation and Control Technician apprenticeship (formerly Industrial Instrument Mechanic) program will be offered, in conjunction with the Bruce Power Workers Union, both in Sarnia and at the Bruce Power site during 201415.

The Pre-Apprenticeship program will operate with funding of $142,000 in 201415. This program commenced very late in 2013-14.

Apprenticeship Enhancement Funding for renewal of instructional equipment has been budgeted at the same level as 2013-14. MTCU funding announcement is pending.

2.9 International

International education continues to play a critical role in the success of Lambton College, with revenues increasing over $900,000 from the previous year.

On campus revenue declines based on the decrease in international students on campus enrolled in post-secondary programs. In addition, a change in the delivery model of one program with strong International enrolment creates a onetime drop in revenue.

Off-shore revenues also decline, as competition from other foreign institutions as well as greater access to spaces at home country institutions present students with many educational options. These losses are more than offset by significant growth in curriculum licensing arrangements with private colleges in Canada that cater to international graduate students, a rapidly growing segment of the international student market.

2.10 Employment Programs

Following Federal I Provincial agreement regarding the participation of the provinces in the new Canada Job Grant, the 2014-15 Budget anticipates little change in funding of existing adult employment programs in the coming year.

Additional funding for Youth Employment Services will be received in 2014-15.


2.11 School to College to Work Initiative

Redistribution of funding for SCWI across the province results in decline in funding for Lambton's SCWI program in 2014-15 as students are directed to institutions closer to home. Grant funding will decline, from $2, 176,400 in 201314 to $1,762,200 in 2014-15.

2.12 Fundraising

The Lambton College Foundation will launch a new capital campaign in 2014-15, focused on two major campus renewal projects: the Centre for Health Education and Sustainable Care and a new Athletics/Recreation facility.

This campaign is supported by existing capital reserves.


3.0 BUDGET SUMMARY

Revenues

Expenses

Surplus before GAAP Adjustments

Total GAAP Adjustments

(Deficit) I Surplus after GAA.P Adjustment

Transfer from Reserve

Transfer to Reserve

Net Surplus after Reserve Transfer

Opening Accumulated Unrestricted Surplus (see Note)

Closing Accumulated Unrestricted Surplus

Budget 2014-2015

$ 66,458,300

$ (65,309,300)

$ 1,149,000

$ (1,273,300)

$ (124,300)

$ 424,300

$ (280,000)

$ 20,000

$ 1,938,100

$ 1,958,100

Year End Estimate 2013-2014

$ 65,712,400

$ (63,348,000)

$ 2,364,400

$ (1,340,600)

$ 1,023,800

$ 987,700

$ (1, 150,000)

$ 861,500

$ 1,076,600

$ 1,938,100

Note: In-year adjustments requiring actuarial estimates are not yet available so have not been included but are assumed not to be material.


THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY

Draft Budget

Statement of Revenue and Expenditure

for the period April 1, 2014 - March 31, 2015

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Statement of Revenue and Expenditure For the period: April 1, 2014 - March 31, 2015

2014-15 2013-14

BUDGET Winter Forecast variance

REVENUE

Post Secondary Contract Services Child Care Services Student Services Administrative Services Physical Resources Ancillary

Sch 2A Sch 28 Sch 2C Sch 3 Sch 4 Sch 5 Sch 6

$ 38,435,900 18,610,800

165,800 2,842,600 1,074,800

512,800 4,815,600

66,458,300

$ 38,963,800 16,966,800

679,700 2,623,900 1,235,500

454,000 4,788,700

65,712,400

$ (527,900) 1,644,000 (513,900) 218,700

(160,700) 58,800 26,900

745,900

EXPENDITURE Post Secondary Sch 2A $ 29,102,400 $ 28,717,100 $ 385,300 Contract Services Sch 28 14,918,000 13,339,500 1,578,500 Child Care Services Sch 2C 222,200 767,300 (545, 100) Student Services Sch 3 6,072,100 5,642,400 429,700 Administrative Services Sch 4 5,836,500 6,075,600 (239, 100) Physical Resources Sch 5 4,612,200 4,254,700 357,500 Ancillary Sch 6 4,545,900 4,551,400 (5,500)

65,309,300 63,348,000 1,961,300

EXCESS OF REVENUE OVER EXPENDITURE BEFORE GAAP ADJUSTMENTS $ 1, 149,000 $ 2,364,400 $ (1,215,400)

LESS: GAAP ADJUSTMENTS Depreciation/Contribution Amortization expense

Vacation pay expense

Termination gratuity expense

1,132,300

137,000

4,000

1,273,300

1,211,300

125,300

4,000

1,340,600

(79,000)

11,700

(67,300)

NET EXCESS OF EXPENDITURE OVER REVENUE (124,300) 1,023,800 (1, 148, 100)

TRANSFER FROM CAPITAL RESERVES

TRANSFER TO CAPITAL RESERVES

424,300

(280,000)

987,700

(1, 150,000)

(563,400)

870,000

EXCESS OF EXPENDITURE OVER REVENUE $ 20,000 $ 861,500 $ (841,500)

OPENING ACCUMULATED UNRESTRICTED SURPLUS 1,938,100 1,076,600 861,500

CLOSING ACCUMULATED UNRESTRICED SURPLUS $ 1,958,100 $ 1,938,100 $ 20,000

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Analysis of Post Secondary Expenditure For the period: April 1, 2014 - March 31, 2015 Schedule 2A

2014-15 BUDGET

2013-14 Winter Forecast variance

REVENUE: Fees: Tuition and Other MTCU Grants Other

$ 14,598, 100 23,481,800

356,000 38,435,900

$ 14,725,800 23,640,700

597,300 38,963,800

$ (127,700) (158,900) (241,300) (527,900)

EXPENDITURE: Compensation 25,144,000 24,430,200 713,800 Instructional software and equipment 1,075,700 1,543,100 (467,400) Equipment maint./rentals 163, 100 166,100 (3,000) Field work 85,100 71,900 13,200 Advertising/Promotion 141,300 58,600 82,700 Instructional 1,000,600 920,900 79,700 Premise rental 3,800 2,400 1,400

Office 109,000 111,700 (2,700) I.T. Networking 188,500 264,400 (75,900) Professional development 217,800 191,100 26,700

Travel 182,600 123,000 59,600 Tuition set aside 790,900 833,700 (42,800)

29,102,400 28,717,100 385,300

CONTRIBUTION: $ 9,333,500 $ 10,246,700 $ (913,200)

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Analysis of Contract Services For the period: April 1, 2014 - March 31, 2015 Schedule 2 B

2014-15 BUDGET


REVENUE: Contract Revenue Course Fees International MTCU Apprenticeships MTCU Contracts Other Provincial Contracts Municipal Contracts Research Contracts Fire School Other

$ 465,400 1,794,800 5,475,300 1,271,400 2,973,300 2,321,700

270,000 2,615,700 1,013,200

410,000 18,610,800

$ 441,200 2,201,700 4,555,700 1,080,700 2,735,900 2,741,500

367,600 1,498,400

948,900 395,200

16,966,800

$ 24,200 (406,900) 919,600 190,700 237,400

(419,800) (97,600)

1,117,300 64,300 14,800

1,644,000

EXPENDITURE: Compensation 7,724,800 6,965,300 759,500 International Recruitment 2,013,800 1,670,900 342,900 Stipends/Support Allowances 871,200 652,000 219,200 Equipment 1,068,700 556,700 512,000 Equip & Building Maintenance 208,200 279,800 (71,600) Advertising/Promotion 364,700 320,100 44,600 Instructional/Program 1,507,200 1,696,200 (189,000) Office 148,800 148,800 Travel Domestic 515,700 556,700 (41,000) Travel International 119,000 92,000 27,000 Professional development 39,100 42,700 (3,600) Premise rental and utilities 336,800 358,300 (21,500)

14,918,000 13,339,500 1,578,500

CONTRIBUTION: $ 3,692,800 $ 3,627,300 $ 65,500

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Analysis of Child Care Services For the period: April 1, 2014- March 31, 2015 Schedule 2 C

2014-15 BUDGET


REVENUE: Day Care Centre Fees Municipal Revenue

$ 62,900 102,900 165,800

$ 333,000 346,700 679,700

$ (270, 100) (243,800) (513,900)

EXPENDITURE: Compensation 214,000 727,300 (513,300) Equipment 500 (500) Instructional 7,300 29,500 (22,200)

Office 300 700 (400)

Professional development 300 (300)

Travel 100 300 (200) Other 500 8,700 (8,200)

222,200 767,300 (545, 100)

CONTRIBUTION: $ (56,400) $ (87,600) $ 31,200

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Analysis of Student Services For the period: April 1, 2014- March 31, 2015 Schedule 3

2014-15 2013-14 BUDGET Winter Forecast variance

REVENUE: MTCU Revenue $ 948,800 $ 818,500 $ 130,300 Sundry Fees 1,505,800 1,401,400 104,400 Other 388,000 404,000 (16,000)

2,842,600 2,623,900 218,700

EXPENDITURE: Compensation 5,233,800 4,922,400 311,400 Advertising/Promotion 240,100 245,600 (5,500) Equipment 49,100 25,200 23,900 Athletics 145,300 159,900 (14,600) Educational resources 154,400 165,500 (11,100) Awards 120,000 120,000 Office 90,800 85,800 5,000 Professional development 1,200 1,200 Travel 37,400 36,800 600

6,072,100 5,642,400 429,700

CONTRIBUTION: $ (3,229,500) $ (3,018,500) $ (211 ,000)

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Analysis of Administrative Services For the period: April 1, 2014 - March 31, 2015 Schedule 4

2014-15 BUDGET


REVENUE: MTCU Revenue Rental Revenue Other

$ 748,200 156,600 170,000

1,074,800

$ 734,400 170,000 331,100

1,235,500

$ 13,800 (13,400)

(161,100) (160,700)

EXPENDITURE: Compensation 3,245,700 3,365,500 (119,800) Advertising/Marketing 361,600 454,700 (93, 100) Insurance 200,000 185,400 14,600 Duplicating/Printing 235,200 281,000 (45,800) Postage 96,300 149,500 (53,200) Office 66,900 66,900 Service charges 399,500 405,400 (5,900) Professional fees 248,000 303,600 (55,600) Taxes 260,000 256,200 3,800 Travel 105,700 113,700 (8,000) Staff employment/recruitment 39,800 22,500 17,300 Contingency 500,000 200,000 300,000 Other 77,800 271,200 (193,400)

5,836,500 6,075,600 (239, 100)

CONTRIBUTION: $ (4,761,700) $ (4,840, 100) $ 78,400

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Analysis of Physical Resources For the period: April 1, 2014 - March 31, 2015 Schedule 5

2014-15 2013-14 BUDGET Winter Forecast variance

REVENUE: Facilities Renewal $ 176,200 $ 176,200 $ Other MTCU Revenue 23,000 23,000 Facilites Fee 160,100 157,700 2,400

Other 153,500 97,100 56,400 512,800 454,000 58,800

EXPENDITURE: Compensation 1,351,200 1,174,600 176,600 Equipment 45,000 95,900 (50,900) Equip & Building Maintenance 663,200 596,100 67,100 Utilities 1,429,300 1,258,800 170,500 Contract Security & Cleaning 899,400 897,200 2,200

Office 3,300 3,300 Telecommunications 155,000 164,000 (9,000) Vehicle 7,000 7,000 Travel 8,600 8,600 Other 50,200 49,200 1,000

4,612,200 4,254,700 357,500

CONTRIBUTION: $ (4,099,400) $ (3,800, 700) $ (298,700)

DRAFT BUDGET 14-15

THE LAMBTON COLLEGE OF APPLIED ARTS AND TECHNOLOGY Analysis of Ancillary Operations For the period: April 1, 2014 - March 31, 2015 Schedule 6

2014-15 2013-14

BUDGET Winter Forecast variance

REVENUE: Campus Shop $ 2,687,500 $ 2,724,500 $ (37,000) Parking 528,000 522,200 5,800 Residence 1,600,100 1,542,000 58, 100

4,815,600 4,788,700 26,900

EXPENDITURE: Campus Shop 2,468,900 2,523,500 (54,600) Parking 329,500 325,000 4,500 Residence 1,747,500 1,702,900 44,600

4,545,900 4,551,400 (5,500)

CONTRIBUTION: $ 269,700 $ 237,300 $ 32,400

lambton college · burgeoning bio-based industry is taking hold in the area with a number of...

Documents