Consolidated Resource Plan 2015 – 2016

For Presentation:

Budget information can be found at: https://www2.viu.ca/budget/index.asp

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February 4, 2015 - To President’s Council

February 16, 2015 - To Planning and Priorities Committee

March 5, 2015 - Planning and Priorities Committee Reports to Senate

March 26, 2015 - Finance Committee Presents to the Board of Governors for Approval

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Presentation Objectives

Provide a summary of the Consolidated Resource Plan (CRP) document

Increase the understanding of the budget intake and development processes within the context of the Academic Plan and Integrated Planning

Articulate Institutional risks/mitigation

Generate line-of-sight from planning to resourcing

Where are we in the budget process? (done)

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Sept/Oct

• Environmental Scan to budget holders

• Finalization of Strategic Resource Plans (SRPs) and submit to Senior Budget Managers (VPs and President)

Early Nov

• Budget holders present their SRPs to Senior Budget Holders

Early

Dec

• Senior Management deliberations

Mid-Dec

• Final decisions and extensive budget team work to build the budget and balance

January • Deliberation decisions have been communicated to budget holders

Where are we in the budget process? (to do)

January 2015 – Budget holders start planning for

subsequent years (2016-2017 forward)

February/March 15/16 Consolidated Resource Plan for presentation and approval

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Budget – Areas of Responsibility Instructional/

Faculty Academic

Support Divisions Institutional

Support Governance Institutional

Academic and Career Preparation

Aboriginal Education Facilities and Ancillary

Services President’s Office Institutional Revenue

Arts and Humanities Centre for Innovation and

Excellence in Learning Financial Services University Secretariat President’s Institutional

Cowichan Campus Enrolment Management Human Resources VPAF Institutional

Education Library Information Technology

Services

Health and Human Services Provost and VP Academic

Office Milner Gardens – Operations

International Education PVAP – Centralized

Academic Units University Relations

Management PVAP – CSR/Deep Bay/ICSS Office of the Vice-President, Administration and Finance

Powell River Campus Registration VPAF Administrative Support

Activity

Science and Technology Research and Scholarly

Activity

Social Sciences Student Affairs

Trades and Applied Technology

University Planning and Analysis

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The Academic Plan Frames our Future

The Academic Plan is the expression of VIU’s strategic thinking and the foundation of the University’s integrated plans that guide our future.

Our focus remains the five Academic Plan objectives:

student learning, engagement and success

academic community

program quality

community engagement

institutional effectiveness

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As a values-based institution, Vancouver Island University is a dynamic and creative community of faculty, staff, and students.

We share a strong belief in the power of learning to change people’s lives.

Our values influence everything we do every day, including resource planning.

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Values Guide All That We Do

Values Guide All That We Do (con’t)

Learning: we support student success, access to education, appropriate use of technology, development of literacies, communication and exchange of ideas across disciplines and locations, exploration and application of new thought and pursuit of lifelong learning

Discovery: through the pursuit of free enquiry we promote an enduring learning community

Engagement: we value ongoing cooperation with our partners in education, with communities in our region and with colleagues throughout the world

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Achievement: we believe in the potential of our learners and are committed to promoting the excellence and success of our students, faculty, staff and alumni

Diversity: we value human diversity in all its dimensions and are committed to maintaining learning and working environments which are equitable, diverse and inclusive

Celebration: we celebrate the achievements of our students, faculty, staff, alumni and the communities we serve

Sustainability: we support a healthy sustainable environment through progressive operational practices and promotion of environmental awareness

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Values Guide All That We Do (con’t)

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Government Impacts on Consolidated Resource Plan

1. AVED implementation of year three of targeted grant reductions

associated with the Administrative Services Delivery

Transformation (ASDT) initiative resulting in a ($0.7m) reduction

in the operating grant.

2. Government tuition policy change regarding ABE and ESL

announced December 2014 resulting in a reduction of ($0.7m)

in the operating grant.

3. Continued ‘all funds, no deficit budget’ direction from Treasury

Board.

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Government Impacts on Consolidated Resource Plan

4. Expectation to share the cost of capital expenditures at a

minimum of 10% contribution by VIU.

5. Focus on having government funding support Skills for Jobs

Blueprint – re-engineering the operating grant to target

25% of funding to in-demand jobs by 2016/2017.

6. BC Skills for Jobs Blueprint – all three pillars.

7. VIU’s mandate as articulated in the Government of BC

Mandate Letter.

BC Skills for Jobs Blueprint – re-engineering the operating grant

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Pillar Two focus – 25% directed grant funding for skills to support in-demand jobs

Pillar One - high school transition rates, Canada Learning Bond initiative, Youth In Care Tuition Waiver Program, dual credit, SD – VIU agreements and SD/FN/VIU agreements (ex:Cowichan)

Pillar Three – Industry/VIU and Program/Faculty partnerships, and trades capital funding

CONSOLIDATED RESOURCE PLAN

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2015-2016 Consolidated Resource Plan

VIU is responsible for the financial stewardship of $136.7m in total annual revenue and on a consolidated basis is tabling a balanced budget for 2015-2016 in response to the continuing ‘all funds, no deficit’ Treasury Board directive.

CRP is projected to increase by $3m or 2.27%

to $136.7m from $133.6m in 2014-2015.

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Consolidated Resource Plan (CRP)

VIU’s consolidated resource plan presented in Schedule 1 reflects the entire enterprise and controlled entities.

The consolidated resource plan is the budget plan cited by AVED.

Controlled entities include:

Vancouver Island University Foundation

Western Student Housing Ltd

Milner Gardens and Woodlands Society

The International High School at VIU and The High School at VIU.

REVENUE AND EXPENDITURES

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2015-2016 Primary Sources of Revenue Change

Province of BC grants decrease of ($1.9m) or (3.41%):

Reduction of ($0.7m) relating to ASDT initiative

Reduction of ($0.7m) for ABE and ESL

Reduction of ($0.5m) relating to reduction in operating grants and fluctuations in Off-grant/Cost Recovery activity

Tuition and Student Fees

Increase of $0.7m relating to ABE and ESL

Increase of $1.2m in domestic tuition and program fees, due to the 2% rate increase of $0.4m and the annualized impact of other activity totaling $0.8m (ex: new programs)

Increase of $2.6m in Off-grant/Cost Recovery due to growth in international enrolments and Trades activity

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2015-2016 Primary Sources of Revenue Change (con’t)

Decrease of $0.4m in High Schools resulting from revised enrolment projections

All remaining revenues combined increase of $0.8m:

Increase of $0.4m in Rental Income anticipated in Western Student Housing

Increase of $0.3m in Other Grants and Contracts, driven primarily by International Educational field school activity

Increase of $0.1m for all other revenue categories

Tuition Fee Policy: http://www.aved.gov.bc.ca/tuition/welcome.htm

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Sources of Revenue…Unprecedented Shift

Two main sources of Revenue

• Provincial Funding (40.6%)

• Domestic and International Tuition and Student Fees (42.1%)

Provincial Funding Gap

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Salaries and benefits increase of $2.4m:

Increase of $0.5m to support existing faculty and staff scale changes and fringe benefit increases

Increase of $1.1m relating to growth in International student support and activity ($0.6m in the International Faculty and $0.5m distributed to other faculties)

Strategic investments and realignments totaling $0.8m

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2015-2016 Primary Sources of Expenditure Change

$1.0m increase in amortization of capital assets - primarily a result of internally funded renovations and purchases

Interest on long term debt decrease of $0.7m: Due to the elimination of all long term debt at the end of fiscal 2013-2014

$0.4m net increase in all other expense lines. Related to growth. Realignments between categories has occurred and overall a small increase in total expenses

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2015-2016 Primary Sources of Expenditure Change (con’t)

Sources of Expenditure - Dominated by Salaries and Benefits

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Salaries & Benefits74%

Fees & Purchased Services

5%

Travel & Training2%

Scholarships & Bursaries

1%

Equipment Rental & Maint.

1%

Utilities, Insurance & Taxes

2%

Materials & Supplies6%

Amortization of capital assets

6%

Cost of goods sold3%

FUND-BY-FUND PERSPECTIVE

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Fund-by-fund Perspective

What?

VIU maintains separate funds for diverse activities, which have been delineated into separate schedules in the budget report.

Why?

• enhance accountability

• budget control (transfers in and out)

• stewardship of resources

• Taxpayer Accountability Principles

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Consolidated Resource Plan at a Glance Net Year Over Year Comparison

(Shows the net year over year comparison for the separate funds and the amounts are summarized in Schedule 1. (To interpret the graph – note that

below the line and above the line net to zero.)

• Represents 59.8% of total revenue budget

• Generates $81.8m in revenues

• Has $91.7m in direct internal area expenses

• $1.1m in net supporting transfers in

• ($8.8m) net shortfall generated

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Operating Fund

Off Grant/Cost Recovery Fund

• Represents 27.7% of total revenue budget

• Generates $37.9m in revenues

• Has $25.9m in direct internal area expenses

• $2.3m in net supporting transfers out

• $9.7m net excess is used to balance CRP

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Ancillary Operations* Fund

• Represents 5.8% of total revenue budget

• Generates $7.9m in revenues

• Has $7.2m in direct internal area expenses

• $0.4m in supporting transfer out

• $0.3m net excess is used to balance CRP *includes Bookstore, Food Services, Parking and Security, Events, Printshop

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Capital Fund

• Represents 3.4% of total revenue budget

• Generates $4.6m in revenues from externally funded assets

• Has ($8.2m) amortization of capital assets expense

• $2m net supporting transfers in

• ($1.6m) net shortfall generated

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Controlled Entities*

• Represents 3.3% of total revenue budget

• Generates $4.5m in revenue

• Has $3.7m in direct internal area expenses

• $0.5m net supporting transfers out

• $0.3m net excess used to balance CRP *includes VIU Foundation, The High Schools at VIU, Milner Gardens and Woodlands Society and Western Student Housing Ltd.

Refer to Schedule 4

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Vancouver Island University Foundation

• Is a registered charity

• Main purpose is fundraising

• The Operating Fund transfers $0.68m in scholarships

• The CRP does not include provisions for unrealized gains or losses on endowment investments

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The High Schools at VIU

1. The International High School at VIU Association

2. The High School at VIU Association

Both are registered charities

Controlled entities because of their constitutions

Regulated by the Ministry of Education

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Milner Gardens and Woodlands Society

• Incorporated in 2000 under the Society Act of BC

• Registered charity

• Manages an investment fund, solicits donations, and operates fundraising activities

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Western Student Housing (WSH)

• Manages student resident real-estate holding of VIU

• Rental rates are expected to match market

• Expenditures are tightly controlled

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GOVERNMENT GRANTS

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Province of BC Grants - Overall $55.5m includes ($1.96m) decrease

Consolidated Province of British Columbia Grants

96% in Operating Fund (base grant) declining by ($1.58m) Cost Recovery Programs and Controlled Entities declining by ($0.3m) and ($0.04m) respectively.

Provincial Grant Revenue – Operating Fund

Consolidated Province of British Columbia Grants

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Government of Canada Grants and Other Grants and Contracts - $4.8 million

Comprises 3.6% of consolidated revenue. The net $0.1m increase is a combination of ($0.2m) decrease in Government of Canada grants and $0.3m increase in Other grants and contracts.

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Fluctuations in both streams are normal Government of Canada grants primarily relate to scholarly activity Other Grants and contracts relate to programs or other activities primarily offered in the off-grant/cost recovery stream

TABLE 8: Consolidated Government of Canada gants and Other grants and contracts by Area

2015-2016 2014-2015 Change 2015-2016 2014-2015 Change

A B C = A - B D E F = D - E

Academic & Career Preparation - - - 685 685 -

Arts & Humanities - - - 300 300 -

Cowichan Campus 70,000 - 70,000 127,038 266,490 (139,452)

Health & Human Services - - - 77,000 77,000 -

International Education 185,088 240,537 (55,449) 1,392,716 882,657 510,059

Management - - - - 25,000 (25,000)

Powell River Campus - - - 16,650 30,650 (14,000)

Science and Technology 3,800 3,800 - 551,077 551,077 -

Trades & Applied Technology - - - 14,534 36,152 (21,618)

Aboriginal Education - - - 176,626 175,952 674

PVPA - Centralized Academic Units - - - 30,467 30,467 -

PVPA - CSR/DBMFS/ICSS - - - 74,400 74,400 -

Scholarship & Community Engagement 1,260,004 1,502,095 (242,091) 603,033 582,453 20,580

Student Affairs - - - 71,740 71,740 -

Facilities Services - - - - - -

Financial Services - - - 38,000 34,000 4,000

Information Technology Services - - - 72,550 72,550 -

Ancillary Operations - - - 87,000 89,800 (2,800)

Total (Schedule 1) 1,518,892 1,746,432 (227,540) 3,333,816 3,001,373 332,443

Note: Area data has been taken from their respective Appendix

GOVERNMENT OF CANADA GRANTS OTHER GRANTS AND CONTRACTS

Government of Canada Grants and Other Grants by Area

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TUITION AND STUDENT FEES

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Tuition and Student Fees

Operating $1.9m increase: $0.4m increase from 2% fee increase $0.3m increase from realignment of programming from off-

grant/cost recovery to operating fund $0.5m increase from annualized impact of other changes $0.7m increase due to ABE and ESL - offset by grant

reductions No increase related to growth

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CONSOLIDATED TUITION & STUDENT FEES

% OF

TOTAL

2015-2016 % OF

TOTAL

2014-2015

Change

Increase

(Decrease)

%

Change

Operating 45% 26,180,979 $ 45% 24,224,279 $ 1,956,700 $ 8%

Off Grant/Cost Recovery 53% 30,406,405 52% 27,836,445 2,569,960 9%

Controlled Entities 2% 1,000,615 3% 1,413,030 (412,415) -29%

Schedule 1 100% 57,587,999 $ 100% 53,473,754 $ 4,114,245 $ 8%

Tuition and Student Fees (con’t)

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Off-Grant/Cost Recovery $2.5m increase: $2.4m from increased enrolment and international student

fees Net $0.1m from annualized impact of fee changes after

realignment of programming Controlled Entities ($0.4m) decrease: Related to revised enrolment projections for The High

Schools

CONSOLIDATED TUITION & STUDENT FEES

% OF

TOTAL

2015-2016 % OF

TOTAL

2014-2015

Change

Increase

(Decrease)

%

Change

Operating 45% 26,180,979 $ 45% 24,224,279 $ 1,956,700 $ 8%

Off Grant/Cost Recovery 53% 30,406,405 52% 27,836,445 2,569,960 9%

Controlled Entities 2% 1,000,615 3% 1,413,030 (412,415) -29%

Schedule 1 100% 57,587,999 $ 100% 53,473,754 $ 4,114,245 $ 8%

5,478 5,568 5,900

6,443 6,208 6,090 6,009 5,873 5,837 5,872 5,944

1,069 1,114

1,282

1,252 1,159

1,018 1,157 1,096 1,147 1,075 1,088

905 818

909

1,011 1,143

1,039 1,200 1,359 1,367 1,323 1,340

-

2,000

4,000

6,000

8,000

10,000

2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17

International

ITA

Domestic

FORECAST

Overall FTE Enrolments 3-year Forecast

Prepared by the Office of University Planning and Analysis

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INVESTING IN PEOPLE

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Alison Taplay Disability Studies Coordinator and University Instructor Powell River Campus

Investing in People $100.5m includes $2.4m increase Consolidated

Salaries and Benefits Expenditures

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$1.1m to support increased international student population:

$1.1m increase to support international students, 55% ($0.6m) in the International Education Faculty and 45% ($0.5m) across other faculties

$1.3m increased costs and capacity:

$0.5m increase to support existing staff - scale changes and fringe benefit cost increases

$0.7m capacity increase includes new instructional positions and support positions across the institution

$0.1m increases resulting from realignments of existing expenditure budgets

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Investing in People $100.5m includes $2.4m increase Consolidated

Salaries and Benefits Expenditures (con’t)

NON-SALARY EXPENDITURES

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Consolidated Non-Salary Expenditures $36.2m includes a $0.7m increase

Comprises 26% of the consolidated expenditures. Increase is mainly a result of growth.

$1.0m increase in amortization of capital assets - primarily a result of internally funded renovations and purchases

Interest on long term debt decrease of ($0.7m) due to the retirement of all long term debt at the end of fiscal 2013-2014

$0.4m net increase in all other expense lines. Related to growth. Realignments between categories has occurred and overall a small increase in total expenses

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CONCEPT OF CRP LEVERAGE

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Leveraging Financial Resources

2015-2016 CRP includes assumptions and associated risks or opportunities.

VIU is prepared to manage some risk in order to leverage financial resources, as long as the combined potential negative impact of all the expected risks can be offset by the combined potential positive impact of opportunities…

…such that the University will close the year on a consolidated basis without incurring a deficit.

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Leveraging Financial Resources (con’t)

Capacity Salary vacancy savings – persistently ~4% of University’s budgeted

salaries and benefits 2015-2016 total capacity is $4.0m, applying a 65% conservative

probability that this will continue results in unspent leverage capacity of $2.6m to support (Tier 1) initiatives

International Education – consistently strong budget over-performance

2015-2016 additional capacity potential is estimated as $0.3m to support Tier 1 initiatives

Total budget capacity from vacancy savings and International Education

performance amount to $2.9m.

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Leveraging Financial Resources (con’t)

Risk Risk of shortfall in domestic tuition relating to lower than targeted

domestic enrolments - estimated to be ($1.5)m Assumed that not all of the approved strategic initiatives (Tier 1) will be

advanced within the year as priorities shift and unforeseen environmental impacts occur - a probability of 75% has been assigned against the total $1.8m Tier 1 initiatives that have been approved; impact associated with the leverage risk is estimated to be ($1.3)m

Total budget risks from potential domestic tuition shortfall and leverage amount to ($2.8)m.

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Leveraging Financial Resources (con’t)

Total potential unspent budget capacity is calculated as $2.9m and total budget risk is estimated as ($2.8)m

The overall consolidated resource plan has the capacity to absorb the potential risks and still have the University close the year on a consolidated basis, without realizing a deficit

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Institutional contingency provides for in-year leveraging of potential opportunities and mitigation of risks

$0.8m available in contingency pools for three senior budget holders

Less than 1% of total budget

Unspent Capacity Leverage (UCL) (previously known as debt recovery) is the overbooking strategy which allows the University to support innovation, strategic investments and entrepreneurship.

An area’s current year budget is not increased to compensate for UCL plans

The amount supported in 2015-2016 is $1.8m up from $1.3m

Contingency and Unspent Capacity Leverage

CAPITAL

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Minor Maintenance Funding

VIU relies on one time Ministry funding to support capital maintenance projects that:

Address life safety

Health and environmental risk

Maintain the asset

Are undertaken to avoid deterioration and systems failure

2013-2014 and 2014-2015 received $0.4m in one time funding

No funding has been confirmed or incorporated for 2015-2016

58 Planned Capital Purchases

Investments 2015-2016 budget includes $5.2m in planned capital purchases (down from $5.5m in 2014-2015 budget):

$4.1m in Operating (Schedule 2 for details)

$0.8m in Off-grant/Cost Recovery (Schedule 2 for details)

$0.3m in Western Student Housing

The impact of these planned expenditures on amortization of capital assets expense has been included in the CRP

LONG TERM RISKS

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A Number of Long Term Risks Persist

Declining government funding and constrained tuition and fee policy

Sustainable budget: need strong and diversified revenue streams

Dependency on International and Off-grant/Cost Recovery activity currently 27.7% or $37.9m of consolidated revenue - many factors outside our control can affect this activity stream

Deferred maintenance - a number of academic programs reside in buildings that are over 30 years old

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A Number of Long Term Risks Persist (con’t)

Several structures are not adaptable to current teaching methods and are expensive to operate

Outdated Information Technology infrastructure and systems

Capital availability

Government policy and impacts that create shortfalls (more with less)

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SCHEDULES AND APPENDICES

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Schedule 1: Consolidated Budget Statement 63

Schedule 1: 2015-2016 Consolidated Budget Statement

Operating

Off Grant/

Cost Recovery

COMBINED

BUDGET

(Schedule 2)

Ancillary

Operations

(Schedule 3)

Capital

UNIVERSITY

BUDGET

Controlled

Entities

(Schedule 4)

2015-2016

CONSOLIDATED

BUDGET

2014-2015

CONSOLIDATED

BUDGET

Change

Increase

(Decrease)

%

Change

Revenue (a) (b) (c) = (a) - (b)

Province of British Columbia grants 53,359,750$ 2,128,774$ 55,488,524$ -$ -$ 55,488,524$ 5,000$ 55,493,524$ 57,451,235$ (1,957,711)$

Government of Canada grants - 1,518,892 1,518,892 - - 1,518,892 - 1,518,892 1,746,432 (227,540)

Other grants and contracts 242,964 3,003,852 3,246,816 87,000 - 3,333,816 - 3,333,816 3,001,373 332,443

Tuition & student fees 26,180,979 30,406,405 56,587,384 - - 56,587,384 1,000,615 57,587,999 53,473,754 4,114,245

Sales of goods & services 633,036 119,548 752,584 7,714,550 - 8,467,134 80,915 8,548,049 8,553,490 (5,441)

Rental income 35,775 142,168 177,943 38,000 - 215,943 2,435,250 2,651,193 2,250,011 401,182

Deferred capital contributions - - - - 4,594,012 4,594,012 - 4,594,012 4,456,191 137,821

Investment income 975,402 - 975,402 - - 975,402 402,500 1,377,902 1,246,674 131,228

Gifts, grants & bequests 99,600 108,600 208,200 - - 208,200 558,000 766,200 543,803 222,397

Other 259,274 441,533 700,807 44,200 35,000 780,007 15,295 795,302 910,110 (114,808)

81,786,780$ 37,869,772$ 119,656,552$ 7,883,750$ 4,629,012$ 132,169,314$ 4,497,575$ 136,666,889$ 133,633,073$ 3,033,816$ 2.27%

Expenses (by object)

Salaries & Benefits 77,899,364$ 19,024,243$ 96,923,607$ 2,125,533$ -$ 99,049,140$ 1,428,703$ 100,477,843$ 98,126,734$ 2,351,109$

Fees & Purchased Services 3,518,350 2,458,075 5,976,425 1,001,734 - 6,978,159 384,676 7,362,835 7,218,744 144,091

Travel & Training 1,048,895 1,490,269 2,539,164 11,298 - 2,550,462 39,000 2,589,462 2,369,848 219,614

Scholarships & Bursaries 132,293 467,834 600,127 - - 600,127 1,344,000 1,944,127 1,632,252 311,875

Equipment Rental & Maintenance 740,807 168,819 909,626 83,291 - 992,917 82,930 1,075,847 1,402,949 (327,102)

Utilities, Insurance & Taxes 2,393,626 122,572 2,516,198 25,810 - 2,542,008 264,952 2,806,960 2,732,205 74,755

Materials & Supplies 5,629,338 1,985,064 7,614,402 (15,880) - 7,598,522 146,659 7,745,181 7,698,687 46,494

Amortization of capital assets - - - - 8,202,578 8,202,578 - 8,202,578 7,214,603 987,975

Cost of goods sold 334,310 153,837 488,147 3,941,849 - 4,429,996 32,060 4,462,056 4,498,555 (36,499)

Interest on long term debt - - - - - - - - 738,496 (738,496)

91,696,983$ 25,870,713$ 117,567,696$ 7,173,635$ 8,202,578$ 132,943,909$ 3,722,980$ 136,666,889$ 133,633,073$ 3,033,816$ 2.27%

Subtotal (9,910,203)$ 11,999,059$ 2,088,856$ 710,115$ (3,573,566)$ (774,595)$ 774,595$ -$ -$ -$

Internal Transfers

2,809,050$ (2,809,050)$ -$ -$ -$ -$ -$ -$ -$ -$

(416,818) 544,713 127,895 - - 127,895 (127,895) - - -

(588,607) - (588,607) (375,852) 2,018,148 1,053,689 (1,053,689) - - -

From (To) - Scholarships & Bursaries (682,100) - (682,100) - - (682,100) 682,100 - - -

Total Internal Transfers 1,121,525$ (2,264,337)$ (1,142,812)$ (375,852)$ 2,018,148$ 499,484$ (499,484)$ -$ -$ -$

Annual Surplus (Deficit) (8,788,678)$ 9,734,722$ 946,044$ 334,263$ (1,555,418)$ (275,111)$ 275,111$ -$ -$ -$

Additional information:

Institution (8,769,084)$ 9,371,707$ 602,623$ 334,263$ (1,555,418)$ (618,532)$ 275,111$ (343,421)$ (68,585)$ (274,836)$

Area (19,594) 363,015 343,421 - - 343,421 - 343,421 68,585 274,836

(8,788,678)$ 9,734,722$ 946,044$ 334,263$ (1,555,418)$ (275,111)$ 275,111$ -$ -$ -$

Unspent Capacity Leverage 639,165 1,166,811 1,805,976 20,000 - 1,825,976 - 1,825,976 1,357,046 468,931

Planned Capital Purchases 4,114,294 770,000 4,884,294 20,000 - 4,904,294 300,000 5,204,294 5,475,747 (271,453)

Planned Capital Reserve Contribution - - - 80,148 - 80,148 - 80,148 161,391 (81,243)

From International (To Faculties)

From (To) - Areas

From (To) - support Capital

Annual Surplus (Deficit) - Distribution

Notation:

Other Schedules and Appendices

Schedule 2: 2015-2016 Statement of Operating and Cost Recovery

Combined Budget CRP page 15

Schedule 3: 2015-2016 Budget Statement of Operations for Ancillary

Operations CRP page 16

Schedule 4: 2015-2016 Budget Statement of Operations for

Controlled Entities CRP page 17

Appendices 1 – 33: Budget Statement of Operations for each Area of

Responsibility CRP page 19 to 51

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