annual report - Medicine Hat College

Transcription

201 4 / 2 0 1 5
ANNUAL REPORT
We are committed, engaged and empowered to
support learners to expand their opportunities
by… BUILDING ON THE STRENGTH OF OUR PEOPLE, AND
BUILDING ON THE STRENGTH OF OUR COMMUNITY.
MANDATE
Medicine Hat College is a public,
board-governed college operating as a
Comprehensive Community Institution
under the authority of the Post-secondary
Learning Act of Alberta.
As a learner-centred institution, Medicine
Hat College serves a diverse range of
students in major areas of study including:
liberal arts; business/commerce; health
and human services; visual and performing
arts; science and technology; apprenticeship
and pre-employment trades; foundational
learning and academic upgrading; and noncredit, lifelong learning and continuing
education programs.
Medicine Hat College focuses on five
primary types of programming:
• University transfer programs that prepare
learners for further study.
• Certificate, diploma, and applied degree
programs that prepare learners for entry to
careers and employment.
• Collaborative undergraduate degrees
delivered in partnership with degreegranting institutions.
• College entrance programming that
prepares learners for success in further postsecondary studies.
• Pre-employment and apprenticeship trades
programming that prepares learners for
trades employment and careers.
Programs and services at the college are
learner-centred and provide graduates with
opportunities to improve their lives and
advance their careers. Medicine Hat College
emphasizes small classes, high-quality
instruction, and excellent student support.
Students at Medicine Hat College are
supported by a range of services that
contribute to academic, social, and personal
development. Student supports include
library services, academic advising, disabilities
services, learning skills development, cultural
activities, career services, residence services,
daycare, counselling, and recreation and
wellness programs. These services are
designed to benefit students by increasing
their opportunities for success.
Medicine Hat College encourages scholarly
activity and applied research to enhance
teaching excellence and quality programming.
The college also conducts scholarly activity
and applied research to foster innovation
in support of industry sectors where
our academic expertise can contribute to
economic and community development.
Medicine Hat College is a proud member
of Campus Alberta. Our commitment
to the principles of Campus Alberta
is demonstrated through collaboration
and partnership within the Alberta postsecondary system.
This collaboration
strengthens programming and increases
access to quality learning opportunities
through initiatives such as transfer credit and
program brokerage.
By incorporating a global focus in our
programming, serving a diverse range of
Canadian and international students, and
providing opportunities for work and study
abroad, the college aims to provide all learners
with opportunities to develop the skills and
attitudes required to function successfully in
an interconnected global society.
As a Comprehensive Community Institution
with regional stewardship responsibilities,
Medicine Hat College works with
community-based adult learning partners
such as school jurisdictions; non-profit,
educational, and governmental organizations;
business; industry; and other community
stakeholders to respond to learning needs in
its geographic service area of southeastern
Alberta. Medicine Hat College responds
to regional needs by providing customized
training, professional development, English
as a Second Language training, community
interest courses, and conservatory-style music
and dance instruction. Through our facilities
and services, the college also responds to the
information, cultural, recreational, fitness,
conferencing, and community event needs
of the communities we serve.
With campuses in Medicine Hat and Brooks,
the college offers credit and non-credit
instruction on a full-time, part-time, and
distributed learning basis to students across
Alberta, Canada, and around the world.
Medicine Hat College programs are also
provided internationally on the campuses of
partner institutions.
Medicine Hat College is dedicated to
providing access to high-quality, responsive,
lifelong learning opportunities and to
the responsible educational, fiscal, and
environmental stewardship of resources.
Approved by Alberta Advanced Education and
Technology, November 23, 2010
TABLE OF CONTENTS
Statement of Board Accountability
2
Management’s Responsibility for Annual Report
2
Message from the President
3
Leadership Team
4
2015 Employee Recognition
5
Operational Overview
6
Focus on People
Relevant and Flexible Programs
Support Learning
Leverage Partnerships
Efficient and Affordable
Report on Goals Noted in the Comprehensive Institutional Plan
9
Goal A: Planning and Governance
10
Goal B: Access12
Goal C: Student Success
14
Enrolment Summary
16
Supporting Data
17
Tuition Fees Regulation
20
Program List
21
Community Update
23
International Education Update
24
Research & Innovation Report
25
Information Technology Report
25
Capital Projects Report
26
Consolidated Financial Statements
28
ACCOUNTABILITY
STATEMENT OF BOARD ACCOUNTABILITY
Medicine Hat College’s Annual Report for the year ended June 30, 2015 was prepared under
the Board’s direction in accordance with the Fiscal Management Act and ministerial guidelines
established pursuant to the Fiscal Management Act. All material economic, environmental or
fiscal implications of which we are aware have been considered in the preparation of this
report.
On behalf of the Medicine Hat College Board of Governors,
[Original signed by Darren Hirsch]
Chair, Medicine Hat College Board of Governors
January 19, 2016
MANAGEMENT’S RESPONSIBILITY FOR ANNUAL REPORT
Medicine Hat College’s management is responsible for the preparation, accuracy, objectivity
and integrity of the information contained in the Annual Report including the financial
statements, performance results, and supporting management information. Systems of
internal control are designed and maintained by management to produce reliable information
to meet reporting requirements. The system is designed to provide management with
reasonable assurance that transactions are properly authorized, reliable financial records are
maintained, and assets are properly accounted for and safeguarded.
The Auditor General of the Province of Alberta, the institution’s external auditor appointed
under the Auditor General Act, performs an annual independent audit of the consolidated
financial statements prepared in accordance with generally accepted accounting principles.
[Original signed by Dr. Denise Henning]
[Original signed by Wayne Resch, CPA, CMA]
President and CEO Vice-President,
Administration & Finance
2
PRESIDENT’S MESSAGE
The past year presented both triumphs and
challenges at Medicine Hat College, and the
experiences our campus community shared
are instrumental to our growth as we pursue
a healthy, sustainable future.
Having arrived in May 2014 as president and
CEO, the 2014-2015 academic year marked
my first full year at Medicine Hat College.
During my time here, I have continually
been impressed with the commitment
and dedication that our employees and
faculty demonstrate to our students, to our
communities, and to one another.
One of our most significant accomplishments
during the year was the development of our
strategic plan for 2015-2020. This eightmonth long process involved extensive
consultation with our employees, our
students, and the communities in our region
wherein we explored the topic “MHC at
its Best”, utilizing an appreciative inquiry
framework.
The finished plan articulates our aspirations
and sets the stage for us to define our shared
path towards an institution that provides
rich learning experiences and personalized
support to our students, ensures a positive
culture for our employees, and actively
participates in the social and economic wellbeing of our region.
Our board was successful in developing
the board ends and revising policy using a
generative framework that ensures alignment
between board governance and the planning
functions of the college.
Change was a theme throughout the year,
even within the leadership team of our
organization. We were pleased to have Wayne
Resch join the executive team as our CFO
and Vice-President of Administration and
Finance in October of 2014, and welcomed
our first Associate Vice-President of Student
Development, Irlanda Price in November
of 2014. In February 2015, we said good
bye to Vice-President Academic, Dr. Len
Vandervaart who retired after a serving MHC
for over thirty years. Dr. Michael Gillespie,
Dean of Health and Science, stepped in on
an interim basis and has since taken on the
role officially.
We also added capacity in a few key areas
in an effort to better serve our region and
underrepresented groups within it. The
manager of regional stewardship position
was created to engage in conversations with
stakeholders in the area to ensure college
plans align with the needs of the region,
and a First Nations, Metis and Inuit (FNMI)
specialist position was added to ensure
MHC is prepared to support the needs of
these learners. The search for this position is
currently underway.
Our college, like others, also experienced
its share of challenges during the year in
the face of budget constraints triggered
by the economic downturn. Through an
integrated budget process with college-wide
representation, difficult decisions were made
involving both programs and people in order
to increase efficiency and ensure market
relevance. This was a stressful time for our
institution, but it did compel us to closely
scrutinize our practices and look at ways
that we can adapt and evolve to meet the
changing needs of our region, and to ensure
our college operation is both responsive and
sustainable.
Despite our challenges, MHC has remained
determined to keep our students at the core
of every decision we make. Thanks to the
efforts of our faculty and staff, we have
built a reputation as a college that provides
a personalized approach and I am proud
to report that this is reflected in our high
student satisfaction rates.
This annual report shares information and
stories that illustrate our college’s efforts
to remain accessible, to build and enhance
partnerships, and to create exceptional
experiences for our stakeholders. It presents
an opportunity to reflect on our past – to
learn from our experiences, and to celebrate
our accomplishments. As we look to the
future of Medicine Hat College, we will
continue to focus on the three pillars of
our strategic plan — students, employees
and communities — in our commitment to
creating MHC at its Best.
[Original signed by Dr. Denise Henning]
President and CEO
3
LEADERSHIP TEAM 2014/15
BOARD OF GOVERNORS
COLLEGE EXECUTIVE
Mr. Darren Hirsch, Chair
Public Member [STARTING JULY 23, 2014]
Dr. Denise Henning
President & CEO
Dr. Linda Rossler, Vice-Chair
Public Member
Dr. Mike Gillespie
Interim Vice-President, Academic
[STARTING APRIL 1, 2015]
Mr. Dennis Egert
Mr. Mohammed Y. Idriss
Mr. Kenneth C. Reeder
Mr. David Petis
Vice-President Advancement &
Community Relations [STARTING APRIL 1, 2015]
Mr. Kevin Burton
Public Member
Mr. Chuck Payne
Interim Vice-President Advancement &
External Relations [ENDING MARCH 31, 2015]
Ms. Deb Corraini
Public Member [ENDING JUNE 14, 2015]
Mr. Wayne Resch
Vice-President, Administration & Finance
Mr. Clayton Bos
Academic Member [STARTING OCT. 1, 2014]
Ms. Irlanda Price
Associate Vice-President,
Student Development
Ms. Barbara Mitchell
Non-Academic Member
Mr. Landon Heilman
Student Member [STARTING MAY 1, 2015]
Mr. Alexander Willkie
Student Member [ENDING APRIL 30, 2015]
Dr. Denise Henning
President and CEO
ex officio
Mr. Clinton Lawrence, Executive Advisor
4
Dr. Len Vandervaart
Vice-President, Academic [ENDING APRIL 1, 2015]
EMPLOYEE RECOGNITION
AWARD RECIPIENTS 2015
2015 COLLEGE EMPLOYEE
OF THE YEAR
Mr. Terry Noble
Recreation Facilities Supervisor,
Sport & Wellness
2015 INNOVATION AWARD
•
Leigh Cunningham,
Collections & Instruction Librarian
2015 ACADEMIC
ACHIEVEMENT AWARD
Ms. Morgan Blair
Director,
Strategic Research & Analysis
•
Julie Davey, Library Assistant
2015 SERVICE
ACHIEVEMENT AWARD
Ms. Anne Baxter,
Library Technician,
Library Services
•
Joanne Mokry,
Access & Technology Librarian
•
Carly Ridgewell, Library Assistant –
Technology
MakerspaceYXH Planning Team
• James Kuehn, Instructor,
Computer Aided Drafting & Design,
Technical Illustrator
5
OPERATIONAL OVERVIEW
Based on the 2010-2015 Strategic Plan, the operational overview aligns with Medicine Hat College’s
five strategies for success: people, programs, place, partnerships and price. We are committed, engaged and
empowered to support learners and expand their opportunities by building on the strength of our people and
building on the strength of our community.
FOCUS ON PEOPLE:
Our organizational culture
will encourage stimulating,
engaging and valued learning
and working experiences.
RELEVANT AND
FLEXIBLE PROGRAMS:
We will provide programs that
are relevant to the diverse
community we serve.
SUPPORT LEARNING:
We will develop resources that
foster an effective learning
environment.
LEVERAGE PARTNERSHIPS:
We will proactively partner with
other organizations to develop
regional and international
opportunities consistent with
the Campus Alberta vision.
EFFICIENT AND AFFORDABLE:
We will provide affordable
learning opportunities.
FOCUS ON PEOPLE:
The past year was one of change and
opportunity at Medicine Hat College.
The Appreciative Inquiry model was
implemented to move the college forward,
focusing on the institution’s strengths. A new
strategic plan process was launched, bringing
together the ideas and aspirations of the
college community and region to answer the
question, ‘What does MHC look like at its
best?’ Through a series of consultations and
conversations with students, staff, faculty,
and stakeholders, the college was able to
define MHC at its Best and launch a new
strategic vision.
Academic and athletic achievements of MHC
students were recognized and celebrated on
provincial and national levels.
With this new direction in place and a
desire to future-proof the institution, MHC
experienced a significant transition period.
The college welcomed new positions and
people to its structure and community, and
said goodbye to retirees and others who
served the institution well.
Excellence in athletics was also a significant
part of the student experience in Medicine
Hat College’s 2014-2015 year. College
athletes participated in three national
championships, and played host for one
of those competitions. Along the way, the
Rattlers won a provincial gold medal, two
silver medals, and two bronze medals. The
Rattlers also performed well as individual
athletes, with 16 named to Alberta Colleges
Athletic Conference (ACAC) all-conference
teams. That same organization presented
25 Rattlers with academic awards. Moving to
the national stage, five Rattlers were honoured
as Canadian College Athletic Association
(CCAA) academic All-Canadians. Another
Rattler was named a CCAA All-Canadian
recognizing athletic prowess.
Darren Hirsch, an alumnus of MHC, local
businessman, and former city councillor, was
appointed chair of the board of governors.
Irlanda Price was hired to lead the college’s
renewed focus on student success in the
newly developed role of associate vicepresident of student development. MHC
also announced the appointment of
David Petis as vice-president, advancement
and community relations, to oversee
an increasingly integrated program of
communications and marketing activities,
government and public relations, events
and conference planning, development and
donor relations, and regional stewardship
which includes responsibility for the Brooks
campus. Long-time college employees Wayne
Resch and Reg Radke moved into the new
roles of vice-president of administration and
finance and manager of regional stewardship
respectively, to better serve the changing
priorities of the institution.
A new position was also added to encourage
and support aboriginal learners as Canada
comes to terms with the findings of the
Truth and Reconciliation Commission.
A search for the successful candidate is
currently underway.
6
Two MHC power engineering technology
students received awards from PanGlobal
Training Systems for having the second
and third highest marks in the country,
based on a combination of school grades
and standardized power engineering results.
Justin Fisher, a fourth year apprentice from
the plumbing program won gold at the 21st
Annual Skills Canada National Competition
in Saskatoon where more than 500 students
showcased their skills.
The year was equally impressive for
Rattlers team members who support these
achievements through leadership and
coaching. The ACAC named three Coaches
of the Year from MHC and one was
recognized as a CCAA Coach of the Year.
Recreation supervisor and the Rattlers #1
fan, Terry Noble, was named Medicine Hat
College’s Employee of the Year.
Business students had the opportunity to
attend the Okanagan School of Business
Annual Western Canadian Business
Competition in March which placed them
in a grueling battle against 12 teams from
across the country. The objective of the
competition was built around a high-end
business program that measures how well
players make business decisions based
on mitigating factors such as economy,
production access, and available employees.
the introduction of new classes and activities
including School of Rock, Latin Ensemble,
adult ballet, and a drumming circle.
MHC’s international students and their
contributions to the college experience
were recognized at the annual International
Education Week festivities. Events included
faculty lectures, cultural demonstrations, and
talent and fashion shows.
SUPPORT LEARNING
MHC officially opened its new visual
communications facility on September 18,
2014. The building features state-of-theart equipment and technology, dedicated
gallery for student exhibitions, private
studio space for third year students,
lighting studio, and outdoor sculpture area.
Excellence in education was celebrated
with the return of the honorary applied
baccalaureate degree to the 2015 convocation
ceremony. The degree was conferred to
Larry Henderson, a local educator and
passionate volunteer who spent many
years mentoring others. His love for
learning and teaching helped many MHC
education students realize their potential.
RELEVANT AND
FLEXIBLE PROGRAMS
Medicine Hat College launched a new course
last year as part of the information technology
program. The emerging technologies class
proved to be a popular choice, providing
learners with an opportunity to sample a
variety of tech from home automation and
advanced web design to quadcopters and
gaming design.
Pre-employment trades training offered
through Continuing Studies was a valuable
starting point for many. This option allowed
students to cover the same material as the
traditional apprenticeship programs, but
without the pre-requisite of being employed
or indentured. At Brooks Campus, the preemployment welding program reported that
100 percent of its students received jobs
prior to completing the course.
The Continuing Studies department
also partnered with SAAMIS Aboriginal
Employment and Training Association to
deliver a 20-week pre-trades program in Fall
2014. The course was available to Aboriginal
Peoples, including First Nations and Metis
at no cost. To qualify, individuals had to
be unemployed, underemployed or have
their employment threatened. The program
was designed to give students hands-on
experience in the labs and was available to
individuals without a GED. Throughout the
program, students demonstrated personal
growth, acquired valuable soft skills, and
gained confidence in their abilities.
The Conservatory of Music and Dance
expanded its programming in Fall 2014 with
Not only do enhanced facilities support
the quality of learning experiences,
current technology and equipment also
ensure students are receiving a relevant
education. Thanks to a donation from
Sterling Western Star Trucks Alberta Ltd.,
the college now has a Detroit Diesel Series
60 engine valued at over $10,000 for use in
the heavy equipment technician program. This generous gift allows for hands-on
learning and real life experience in engine
design and repair.
The Small Business Work Term was
designed and launched to help local
companies execute their marketing
and communications plans through
employment of third and fourth year
business students. This pilot program is a
result of a three year business retention
and expansion (BR&E) project with
Mount Royal University.
MHC’s Entrepreneur Development Centre
(EDC) was celebrated nationally at the
Enabling Entrepreneurship Symposium in
Quebec City last spring. The EDC received
the College and Institutes Canada (CICan)
Entrepreneurship Award in the Student
Entrepreneurship category. This award
recognizes institutions that are achieving
excellence in promoting entrepreneurial
values as a means of fostering innovation
and contributing to the local economy.
More specifically, the EDC was celebrated
for its ability to create industry partnerships
that provide students and alumni with the
resources required to successfully start,
manage and grow their entrepreneurial
careers.
The college continued to position itself as
a leader in employment support services
by uniting job seekers and employers at its
annual career and job fairs held each fall and
spring. These events showcased employment
opportunities available from a wide variety
of regional businesses.
7
OPERATIONAL
OVERVIEW (continued)
LEVERAGE PARTNERSHIPS:
MHC’s mandate is to serve all the
communities in the region of southeastern
Alberta. The recently created manager of
regional stewardship role is responsible for
bringing together stakeholders and college
leaders to identify and plan, implement
programs, train workers, and provide related
services to meet the needs of populations
outside of Medicine Hat. By extending
the college’s reach, establishing stronger
relationships, and understanding the needs
of regional stakeholders, this position
will serve as an ambassador and link to all
communities in southeastern Alberta.
Now in its fourth year, junior high students
from Notre Dame Academy in Medicine
Hat continued to gain hands-on experience
in a variety of trades through Career and
Technology Foundations (CTF), a program
that targets Grade 9 students. Considered to
be leading the province in working with this
younger age group, MHC’s proven success
with the program led to its expansion with
Parkside School from Redcliff in 2014.
Success in trades was also evident at the
10th Annual South East Alberta Regional
Skills Competition hosted by South Eastern
Partners for Youth Career Development
in conjunction with MHC. The event took
place at the college in April and featured
top talent in trades and technologies from
across the region, and exposed hundreds of
junior high and high school students to the
opportunities available in these areas.
The college celebrated one of its very
special partnerships last year with the official
opening of the Sunrise Rotary Trail. This
project merged city and college trail systems
and has since enhanced healthy lifestyle and
community experiences for Medicine Hat
and area residents.
EFFICIENT AND AFFORDABLE:
MHC is grateful for the continued support
of donors and stakeholders who provide
scholarships and other funding resources
to ensure students have access to affordable
education.
Locally, the board of directors from the
Medicine Hat Volunteer Centre donated
over $19,000 to provide financial support to
students enrolled in social work, addictions
counselling, occupational/physical therapist
assistant, and paramedic programs at MHC.
Thanks to JMH & Co.’s ongoing support
of entrepreneurship at MHC, four students
received $35,000 combined in start-up
funding. They were part of the Summer
Company Program that helps students start
a business by offering coaching, mentorship,
and access to capital. The recipients of
$10,000 included Dana McMahon of OCD
Adventures, Grayden Cowan of Badlands
Boards, and Shelby LeBel, whose start-up
company, Meddeci Inc., creates simulation
learning tools. Dave Winterburn received
$5,000 for his business, Dave’s Hot Dawgs.
The United Association of Journeymen
and Apprentices of the Plumbing and Pipe
Fitting Industry of the United States and
Canada’s Local 496 chapter committed to
more than just internships last year. They
invested in the future of the institution
and our students by pledging $25,000
to a three-year internship program. The
internship focused on providing students
an opportunity to learn about 3D printing
and its real world application by being part
of, and compensated for, applied research
and innovation projects. The first students
to benefit from this initiative came from
the computer aided drafting and design and
visual communications programs.
Students in the electrician program were
also able to access scholarships and new
technology for the classroom thanks to
Spectra Energy, one of North America’s
leading pipeline and midstream companies.
A pledge of $10,000 was made by Spectra
with $5,000 designated to the purchase of
equipment to enhance the student learning
experience. The other half of the donation
provided two scholarships to a second and
third year student.
Safety Dynamics Inc pledged $7,500 to
provide financial assistance to students taking
the occupational health & safety (OH&S)
certificate program offered by Continuing
Studies. A total of $1,500 will be distributed
annually for five years to students who do
not typically qualify for financial support.
PLAN FOR FINANCIAL SUSTAINABILITY
MHC is striving to enhance its entrepreneurial
outlook and business acumen in the awareness
that government funding will vary with the health
of the provincial economy. The measures noted
in this section will enable the presentation of a
balanced budget in the shorter term.
REDUCE EXPENSES
ASSOCIATED WITH CREDIT CARDS
MHC developed and implemented a plan
for an external service provider to facilitate
credit card payments. Attributable cost
savings are expected to be approximately
$80,000 in the first year.
REDUCE STAFF TIME DEVOTED
TO SCHOLARSHIPS AND
BURSARY ALLOCATIONS
College staff developed and deployed the
“Polaris” system to link advancement and
student services processes related to the
management of student scholarships and
8
bursaries. Now through the first year of
operations, the program has streamlined
administrative processes and increased
accuracy of match between private sector
awards and student recipients.
INCREASE REVENUE
ASSOCIATED WITH THE
PROVISION OF PARKING
MHC revised parking payment processes,
and increased user fees in the past year. Full
year pay parking operations, and related
restructuring, provided approximately
$75,000 in additional parking revenue.
COMPREHENSIVE INSTITUTIONAL PLAN
2014-2017
9
9
GOALA
PLANNING AND GOVERNANCE
Recognizing the vital role of effective governance and planning processes in
preparing the institution to serve learners today, but more critically in the years
ahead, MHC invested significant energy to the renewal of strategic direction
and institutional capacity.
ENSURE ONGOING QUALITY
MHC continued the process of ensuring
that its General Academic Council clearly
delineates the roles and responsibilities
of various college offices in relation
to review and approval processes for
academic programming changes. Indicators
of success include the progress of
program renewal initiatives, as well as
ongoing student satisfaction with MHC.
PROVIDE RELEVANT
PROGRAMS AND SERVICES
MHC envisioned the addition of a business
case analyst position to support evidencebased planning; however, the operating
environment changed such that the position
was no longer affordable. The college instead
increased the accountability of individual
managers to actively use information to
inform their own decision making. To meet
demand for information, the college revised
staffing in the existing strategic research &
analysis department to coordinate reporting
and information collection.
The college also generated key performance
indicators (KPI) for the new strategic plan
to be monitored and reported on a regular
basis.
10
ENHANCE REGIONAL
STEWARDSHIP; ROLE OF
BROOKS CAMPUS
MHC enhanced its approach to regional
stewardship, dedicating a significant portion
of an existing position to this critical task.
Initial activity suggests the college will be
able to announce increasing stakeholder
engagement and partnership in the next
fiscal year.
11
GOALB
ACCESS
Medicine Hat College is a learner-centered institution. As such, the college is
committed to offering flexible, relevant, efficient and affordable programming.
In order to anticipate and respond to learner needs effectively, we are developing
data-driven and integrated planning processes that assist with timely and
responsive decision-making. Complementing the internal collaboration that
is crucial to maintaining quality services, MHC works collaboratively with
multiple external organizations and agencies to achieve our vision.
INSTITUTIONAL GOALS
Medicine Hat College believes itself to be an
effective member of Campus Alberta. Our
three core strengths — accessibility, diversity
and collaborative nature — enable us to
deliver outcomes important to individual
learners, to our region, and to the province
as a whole. It is with these strengths in mind,
that we have prepared our academic goals
for 2014 – 2017.
APPRENTICESHIP
MHC’s reputation for high quality instruction
and access to hands-on training contributed
to enrolment growth in the past year. The
college launched a satisfaction survey of
eligible apprentices that may attend classes in
2016. Overall apprenticeship enrolment has
increased by 209 seats since 2010, but the
college anticipates industry demand to be
reduced for next spring’s intake due to lower
oil and natural gas prices.
MHC was involved with provincial meetings
to review and provide input into changes
for the final Apprenticeship and Industry
Training (AIT) exams. This process was
necessary to make the exams relevant to recent
curriculum changes implemented by the
Carpenter
Provincial
Apprenticeship
Committees (PAC). The college will continue
to work through the upcoming year to ensure
all lectures, quizzes, and local exams match
the PAC curriculum changes.
12
Trades faculty worked closely with the local
AIT branch to bring new apprentices out of
the trade for prior learning assessments with
a goal of recruiting tradespeople without
their tickets into MHC trades programs.
Working with youth continued to be a large
focus of the college’s trades department.
Faculty were instrumental to the success
of Provincial Skills and Regional Skills
Alberta programs that boost awareness and
interest in trades programming. They also
toured numerous school groups through
the carpentry shop to inform senior high
students about MHC apprenticeship
program and related career opportunities.
The popular Career and Technology
Foundations partnership with Notre Dame
Academy and Parkside School also continued
with local area junior high students coming
on campus and benefitting from MHC’s
shop facilities and faculty expertise.
APPRENTICESHIP:
BROOKS CAMPUS
MHC deployed the multi-purpose trades
workshop at the Brooks Campus to build
on the success of its pre-employment
welding program to provide other tradesrelated training. In addition, all three levels
of rig technician program moved to Brooks
Campus in spring 2015; however, enrolment
was low due to industry downturn.
A total of 31 students were enrolled in trades
training at Brooks Campus in the 2014-2015
academic year.
ESL FOR NEW CANADIANS
MHC currently provides part-time ESL
training at the Brooks Campus (CLB levels
3, 4, 5). In the past fiscal year, the college
applied for additional CIC funding to expand
part time ESL numbers from 105 to 120. (If
successful, the new contract will be in place
for April 1, 2016).
CERTIFICATE &
DIPLOMA PROGRAMS
ENVIRONMENTAL SCIENCE
AND RELATED PROGRAMS
Medicine Hat College worked closely with
Lethbridge College on the continued delivery
of collaborative environmental science
programming and the implementation
of curriculum changes introduced by
MHC’s partner institution. Strong ties
with Lethbridge College also ensured the
environmental
reclamation
technician
program offered at MHC continued to grow.
A transfer agreement to the University
of Saskatchewan was developed with
courses credited towards completion of a
BSc Environmental Science major. MHC
investigated, but ultimately rejected, the
possibility of combining these three existing
programs into a multiple exit applied degree.
The industry relevance of the EREC
program led to increased enrolment and
created efficiencies without merging with
other programs. MHC refreshed the
environmental science collaborative diploma
transfer agreement with Lethbridge College.
Student satisfaction in these programs was
very high with the quality of educational
experience and relevance of courses rated
100 percent.
INFORMATION
TECHNOLOGY DIPLOMA
Information technology programming
continued to be valued by industry and
students. In the past year, MHC piloted
new courses to renew and revitalize the
program’s technology support steam. Again,
satisfaction with this program was extremely
high with students giving full marks to the
quality of their experience and instructors.
PARAMEDIC DIPLOMA
AND OCCUPATIONAL THERAPIST
ASSISTANT/PHYSICAL
THERAPIST ASSISTANT DIPLOMA
ACCREDITATION
The occupational therapy assistant/physical
therapist assistant program was granted
accreditation until April 30, 2021. MHC’s
program was the first in the province to
achieve this status. The paramedic diploma
program was also accredited through
the Canadian Medical Association until
January 2017.
POWER ENGINEERING
TECHNOLOGY
The power engineering technology program
continued to attract more qualified applicants
than can be served, but thanks to funding
from Alberta Innovation and Advanced
Education, an additional six students were
accepted, bringing the first year enrolment
to 42. This increase will double as these
students transition to second year.
The power engineering industry also
benefitted from the addition of a 4th class
steam lab and theory class offered through
Continuing Studies. A third class (theory
only) program expansion was also launched.
Graduate employment is 100 percent.
DEGREE PROGRAMS
BACHELOR OF EDUCATION
MHC’s staged implementation of the Mount
Royal University Bachelor of Education
program was successful and the first cohort
will graduate in spring 2016. Student
satisfaction with all aspects of the program
is extremely positive.
BACHELOR OF NURSING
The Bachelor of Nursing program continued
with implementation of the revised
University of Calgary (U if C) curriculum.
The first cohort was in its second year
of the new curriculum which focused on
“The Healthy Community” and “Healthy
Families.” First year students were invited to
attend “Lunch and Learns” as a way to engage
with nursing faculty and fellow students as
no nursing classes are offered during the first
year of the program. The final cohort of the
previous curriculum was in its third year and
completed rural preceptorships in the spring
semester.
PROGRAM SUSPENSIONS
Curricula changes to the U of C Bachelor
of Nursing transition program reduced its
viability. so this collaborative degree program
was suspended with no measurable impact.
The massage therapy diploma program
encountered significant marketplace and
enrolment challenges. As a result, intakes
were suspended in spring 2015.
Continued low enrolment led to the
suspension of the ecotourism and outdoor
leadership program. MHC will ensure all
students will be able to complete their studies.
In addition, the college is investigating
collaboration with the Global Tourism and
Marketing program to create new options
for students.
13
GOALC
STUDENT SUCCESS
MHC believes that positive outcomes are achieved when learners encounter an
environment rich in academic, support, and social opportunities. The objectives
identified in this section highlight areas of enhancement and growth in the
previous year.
IMPROVE PROCESSES
• Increased student access to T2202A
forms through online access (backdated
to 2011)
• Implemented a dashboard for greater
accessibility to student schedules and
services online
• Increased accessibility for students
and the community through an online
public course outline service
• Integrated admission, advising and
orientation services for international
students
• Increased overall access to cultural
programming
through
integrated
registration services for conservatory
students
INCREASE RETENTION,
STUDENT SATISFACTION
Institutional efforts to increase student
retention are meeting success. Efforts
included:
• Implementing an early alert pilot
system to better meet student needs,
implementing an advising strategy for
probation students, and formalizing a
student support group committee to
discuss high risk students. The college
laid the foundation to hire a writing
specialist as a pilot project to assist
students with grammar, mechanics, and
other writing skills.
• Responding to indications that
poor program selection leads to
diminished retention, the college
14
launched pre-enrolment tactics such
as the “Find your Fit” promotional
campaign in Spring 2014 and 2015
increasing service usage of Student
Employment and Career Centre.
As a result of these, and other ongoing
efforts, the retention rate rose steadily to
55%, an increase of 11% over four years.
IMPROVE STUDENT WELLNESS
Responding to increased demand for
wellness services, the college added staffing
in counselling support and enhanced existing
partnerships. The college also formalized
the structure of a student support group
to better coordinate on-site wellness
opportunities, and signed an agreement
with the Medicine Hat Ecumenical Campus
Ministry for chaplaincy services.
INCREASE TRANSITION
TO THE WORKFORCE
The college’s Entrepreneur Development
Centre continued to support students and
alumni seeking to establish new business
ventures.
ENHANCE STUDENT LEADERSHIP
MHC increased training and development
for the student ambassador program, and
incorporated student leaders in orientation.
Recognizing the value of a strong, positive
launch into college studies, MHC also
expanded orientation from one to one and
a half days.
15
ENROLMENT
SUMMARY
Medicine Hat College is continuing to see growth in programs with limited
seats such as power engineering and nursing, which do not translate into Full
Time Learner equivalents. The college has embarked on a Strategic Enrolment
Management plan to manage recruitment and retention in all programs, but
with a focus on non-competitive programs to counter the downturn from expected
October 14, 2015
Medicine
Hat College
projections. The goal is increase
enrolment
by 8% by 2020.
2:45 PM
Learner and Enrolment Demographic Summary
Page 1 of 3
2014 - 2015 Academic Year
Submission Status: Pending Signoff
Run by: balbano@mhc.ab.ca
Enrolment Summaries
By Registration Status 4
Active
FLE 1
Unique Students 1,3
Program Completions 2
Full-Time
1,484.306
1,582
564
Part-Time
577.949
1,967
53
2,062.255
3,549
617
Late Grad
N/A
N/A
75
Nopgm Grad
N/A
N/A
26
Non-Active Total
N/A
N/A
101
2,062.255
3,549
718
Active Total
Non-Active
Medicine Hat College Total
By Current Status
FLE 1
Unique Students 1,3
1,055.761
1,696
567
New
852.702
1,516
90
Returning
153.792
337
61
2,062.255
3,549
718
Continuing
By Credential
FLE 1
Unique Students 1,3
Certificate
321.341
1,027
303
Degree
168.305
192
30
Diploma
657.434
836
310
Non-Credential
915.175
1,550
75
2,062.255
3,549
718
By Program Band
FLE 1
Unique Students 1,3
Business
245.376
341
105
Education
161.098
283
46
Health Sciences
354.827
483
166
Languages, Social Sciences, Arts & Humanities
435.364
648
105
Legal & Security
57.937
87
18
Physical, Natural & Applied Sciences
111.467
134
27
Preparatory & Basic Upgrading
335.827
726
N/A
Recreation
19.021
19
6
Trades & Technologists
341.338
889
245
2,062.255
3,549
718
By Registration Type
288 learners enrolled were taking at least one course in the program and session related to their record via distance delivery
0 learners (0 records) with PLAR credits, generating 0.000 FLEs
16
SUPPORTING
DATA
Medicine Hat College is proud of its ability to meet the needs and expectations
of students. Satisfaction and outcome measures continue to be strong.
Information on this page is drawn from the 2014 graduate survey.
Graduates were asked questions related to satisfaction with education, financial worth of
education, and whether they would recommend MHC to others.
94 percent of the respondents were very satisfied or satisfied with the overall quality of
educational experience at MHC.
How satisfied are you with the overall
quality of your educational experience?
43%
How satisfied are you with the
relevance of your courses?
6%
How satisfied are you with the
quality of teaching in your program?
6%
Very dissatisfied
51%
59%
46%
Satisfied
Dissatisfied
34%
46%
Very Satisfied
Graduates were asked, “to what extent do you agree with the following statement: Given the
benefits of post-secondary education, I consider the program to be worth the financial cost to me
and/or my family?
9%
57%
disagree
32%
agree
strongly agree
17
SUPPORTING
Medicine Hat College is proud of its ability to meet the needs and expectations
of students. Satisfaction and outcome measures continue to be strong.
Information on these pages is drawn from the 2014 graduate survey.
DATA
Would you recommend the same program of
study to someone else?
Would you recommend to someone that they
should attend MHC?
3%
8%
92%
97%
YES
NO
About two-thirds of respondents remain in Medicine Hat after graduation from MHC.
Over 80% of graduates remain in Alberta
Have you permanently
relocated to a different
city or town since the time
of your graduation from
Medicine Hat College?
Which city or town did
you relocate to?
32%
Edmonton
21%
Lethbridge
21%
Calgary
20%
68%
YES
NO
Medicine Hat
Elsewhere in Alberta
Elsewhere in Canada
18
8%
14%
16%
Graduates were asked to rate the extent to which they received benefits from their education and the extent to which
they developed certain skills and abilities during their education. Rating occurred on a scale of 1 (not at all) to 5 (to
a great extent). The opportunity to improve and the ability to analyze information were the highest rated categories.
The following statements examine the degree to which your post-secondary education has added to your skills, knowledge, and abilities.
17%
Analyze information
44%
13%
Work independently
29%
49%
19%
Become self-confident
38%
17%
Develop time management skills
10%
Work well with others
8%
41%
7%
Develop writing skills
37%
34%
1 30%
32%
27%
7%
27%
30%
24%
10%
14%
Appreciate other cultures
41%
21%
7%
Think creatively
38%
32%
22%
Develop research skills
34%
35%
13%
Solve problems
33%
19%
25%
29%
2
3
31%
4
5
not at all
to a great extent
To what extend did the program you attended at MHC provide you with the following benefits?
7%
Improved employment opportunities
The skills needed for a particular job
7%
8%
43%
30%
8%
A desire to learn more about other subjects
Chances of improved income
40%
12%
Knowledge of a particular field of study
Think 52%
creatively
32%
12%
An opportunity to improve yourself
54%
17%
26%
46%
19%
25%
46%
15%
40%
32%
19
$7,789,794
Statement of total tuition fee
revenue from programs under
Tuition Fee Policy $43,700,835
Statement of net operating
expenditures
17.83%
TUITION
FEES
REGULATION
Calculation of tuition fee revenue
as a percentage of net operating
expenditures
20
CREDIT PROGRAMS
ADULT BASIC EDUCATION (ABE)
DENTAL HYGIENE [UT]
MEDICINE [UT]
ACADEMIC TRANSITION PLAN
DENTISTRY [UT]
NURSING
ADDICTIONS COUNSELLING
EARLY LEARNING AND CHILD CARE
NUTRITION [UT]
ADDICTIONS COUNSELLING/
SOCIAL WORK
ECOTOURISM AND OUTDOOR
LEADERSHIP
OCCUPATIONAL/PHYSICAL
THERAPIST ASSISTANT
ADMINISTRATIVE OFFICE
MANAGEMENT
EDUCATION
OPTOMETRY [UT]
EDUCATION ASSISTANT
PARAMEDIC
ADMINISTRATIVE OFFICE
PROFESSIONAL
ELECTRICIAN
PHARMACY [UT]
ARTS [UT]
ENGINEERING [UT]
PLUMBER
AUTOMOTIVE SERVICE
TECHNICIAN
ENGLISH AS A SECOND LANGUAGE
POLICE AND SECURITY
BUSINESS ADMINISTRATION
ENVIRONMENTAL RECLAMATION
TECHNICIAN
POWER ENGINEERING
TECHNOLOGY
CARPENTER
ENVIRONMENTAL SCIENCE
PRACTICAL NURSE
CHILD AND YOUTH CARE
COUNSELLOR
FINE ARTS [UT]
RIG TECHNICIAN
GLOBAL TOURISM AND MARKETING
SCIENCE [UT]
HEALTH CARE AIDE
SOCIAL WORK
HEAVY EQUIPMENT TECHNICIAN
SOCIAL WORK [UT]
HUMAN SERVICES
SPEECH LANGUAGE
PATHOLOGIST ASSISTANT
CHIROPRACTOR [UT]
COLLEGE PREPARATION
COMMERCE, MANAGEMENT
COMMUNICATION STUDIES
INFORMATION TECHNOLOGY
COMPUTER AIDED DRAFTING AND
DESIGN (CADD) &
TECHNICAL ILLUSTRATOR
STEAMFITTER/PIPEFITTER
JOURNALISM [UT]
KINESIOLOGY [UT}
TEACHING ENGLISH AS A
SECOND LANGUAGE
COMPUTER INFORMATION
SYSTEMS [UT]
LAW [UT]
TRAVEL COUNSELLOR
CRIMINAL JUSTICE
MASSAGE THERAPY
VETERINARY MEDICINE [UT]
DEAF AND BLIND
SUPPORT SERVICES
MEDICAL LAB SCIENCE [UT]
VISUAL COMMUNICATIONS
WELDER
OTHER PROGRAMMING
CONSERVATORY OF MUSIC AND DANCE
CONTINUING STUDIES
21
22
OUR COMMUNITY
MHC is an active participant in the
communities it serves, yet recognizes
that opportunity exists to generate more
meaningful partnerships in future years.
The key activity in the coming year will
be strategic planning, a process expected
to support greater awareness of regional
aspirations and opportunities.
MHC hosted many events throughout
the year to create touchpoints with the
community and region. Events focused on
student recruitment, donor recognition,
and industry partnerships to build bridges
between community and college.
The annual Connecting Students to Business
event was enhanced to broaden the scope
of students and employers who attend
the event. This networking event provides
students an opportunity to meet employers
in the region. Nearly 200 students and 200
employers attended this year’s event where
Rick Derbyshire, Owner/Manager of
Contempora Properties Ltd., was named
Business Person of the Year.
The One on One Gallery, housed in the
newly developed space for the visual
communications program, was home to
several art exhibits throughout the year,
including exhibitions of works by both
students and faculty.
To better serve our region, MHC added a
manager of regional stewardship position to
engage in conversations with stakeholders
in the area to ensure college plans align with
the needs of the region. Throughout the
year, this position provided value through a
number of new and enhanced initiatives.
Through
these
connections,
MHC
participated in the pilot project, Southern
Alberta Leaner Support Services, in
partnership with Lethbridge College and
funded by Innovation and Advanced
Education. The project launched in March
2015 and involved Big Country Community
Adult Learning Council, Lethbridge County
Community Adult Learning Council,
Newell Further Education Council, Pincher
Creek Community Adult Learning Council,
and Taber & District Community Adult
Learning Council. The aim of the project
was to determine programming priorities,
improve post-secondary connections, build
and improve community supports, improve
assistance to distance learners, and help
newcomers adapt to life in Canada. Feedback
has been positive and best practices will be
rolled out to other CALCs upon completion
of the pilot in January 2016.
Further connections are being built and
enhanced throughout the region, including
involvement with South Eastern Alberta
Partners for Youth Career Development,
Newell Regional Tourism Association,
Brooks and District Chamber of Commerce,
Brooks and County Immigrations Services
Advisory Committee and more.
To address the needs of underrepresented
groups within the region, MHC also added
a First Nations Metis Inuit (FNMI) support
position. To support this effort, a FNMI
Advisory Committee was created with
representation from Bassano, Siksika Nation,
Grasslands School District, and Prairie Rose
School District.
Stronger relationships have been established
with the six regional Community Adult
Learning Councils (CALCs) through regular
meeting attendance, communication and
member representation.
23
OUR WORLD
MHC’s approach to international education
continued to evolve in the past year
supported by an extensive review of
international activities and the creation of
new internationalization strategic plan. The
internationalization initiative gained input
from the entire college community through
numerous, well-attended information and
discussion workshops. These workshops
were held with representation from all areas
of the college community including faculty,
support staff, executives, board members,
the Student’s Association and individual
students.
Medicine Hat College is curtailing all of its
offshore activities. Over the past 10 months,
MHC has officially served notice to all
of its international partners that existing
partnerships will be terminated; however,
sufficient time and support will be allotted
to students currently enrolled at offshore
campuses to ensure they are able to complete
their programs.
24
Two notable areas of activity include
recruitment of international students, as
well as the orientation of students once they
reach Medicine Hat.
Approaches to recruitment included refining
web-based materials; establishing more
comprehensive relationships with, and
guidelines for, international agents; and
developing assessment and review processes
for all current agents and partners.
Services for international students have
also been enhanced. These steps include an
enhanced orientation and onboarding plan,
refreshed cultural and social activities, and
the provision of a retention officer who
works with colleagues on campus to support
the success of international students.
RESEARCH & INNOVATION
Research and innovation activity at MHC
continued in the past year, though pace was
lost due to the result of staff reductions
due to fiscal challenges. Notable successes
include continued business and industry
access to additive manufacturing technology,
as well as the launch of a NRC funded project
investigating the impact of new technology
in ceramics manufacturing.
MHC operates a Stratasys Fortus 400mc 3D
Printer and a Faro EdgeArm Laser Scanner
and Laser Tracker. Through the use of
these technologies and interactions with end
users that have taken place in recent years, it
became apparent that a lack of understanding
on how to effectively model for 3D printing
exists among industry clients. This significant
gap in understanding was addressed with
the creation of a course funded by Alberta
Innovates Technology Futures, intended to
enable industry to more efficiently utilize
advanced manufacturing technologies.
MHC’s advanced manufacturing technology
equipment is intended to increase the
competitiveness of Alberta industries and
provide opportunities for companies to
develop products faster and be quicker to
market. This equipment will also be used in
several programs at the college, beginning
with the CADD and engineering programs,
to train and develop students to develop
the technical skills required in this emerging
field.
MHC has employed a fabrication technician
to supervise and operate the equipment,
a position supported through Alberta
Innovates Technology Futures funding.
INFORMATION TECHNOLOGY
MHC is proud of its capacity to provide
students and employees with a strong,
stable technology platform. Progress toward
enhancements continued through the
previous fiscal year.
BANDWIDTH
MHC recognizes that access to bandwidth
is critical to take full part in potential
collaborative ventures, such as shared data
centres. In the past year, MHC engaged
with Axia- Supernet and Cyberia to consider
options for greater bandwidth access. This is
an area of ongoing priority and activity will
span several planning and reporting periods.
INTEGRATED, COLLABORATIVE
ERP (BUSINESS OPERATIONAL
SUPPORT) SYSTEMS
MHC continues to explore effective
methods of replacing current operational
and business support systems with data
and operational integration across Finance,
Human Resources, and Student Support.
In the past year, the college initiated an
integrated systems committee to explore
options for replacement of current
operational and business support systems,
engaged with Campus Alberta User (CAUS)
representatives to explore that collaborative
model, and continued exploration of other
solutions. This is an area of ongoing priority
and activity will span several planning and
reporting periods.
STORAGE INFRASTRUCTURE
AND EXTERNAL DATA ACCESS
MHC is encountering demand to store
increasing amounts of college operational
information. Along with this storage need is
the need to provide ready access to this data
for instructors, students, and support staff
in their work. Progress in the past fiscal year
included increased storage capacity through
the acquisition of storage infrastructure.
25
CAPITAL PROJECTS
COMPLETED PROJECTS
FUTURE PROJECTS
VISUAL COMMUNICATIONS
EXPANSION
Medicine Hat College was pleased to
officially open the visual communications
expansion at the Cultural Centre in
September 2014. This project included the
addition of 2315 m2 and major renovations
to 559 m2 of the existing Cultural Centre
building located on the Medicine Hat
campus.
GENERATIONS: THE COLLEGE
COMMUNITY COMMONS
A renewed space for community engagement
and sport and wellness activities remained
the college’s top capital development priority.
Budget and Funding
Project cost: $8,028,000
Funding sources: Government of Alberta,
Internal finances and interest earned on
project funds
REPLACEMENT OF EXTERIOR
PANELING AND ROOF: S WING
This project was completed at a cost
of $630,500 in the 2014-2015 year
with funding from the Infrastructure
Maintenance Program (IMP).
Project cost: $901,500
Funding source: Government of Alberta
In 2014-2015, MHC continued to work with
Stantec Consulting Ltd. on the development
of a business case. Part of this process
included a review and renewal of the vision
for the facility which resulted in a revised
concept that would provide a multi-purpose,
multi-generational learning environment
combining elements of wellness, sport,
technology, entrepreneurial endeavors, and
innovative learning opportunities.
Cost estimate: $53.5 million
Medicine Hat College
Partners
EXPANSION AREAS
The following projects have been identified
to address expansion needs in the future;
but did not move into a formal planning
phase during the 2014-2015 year.
Enclose Central Courtyard
Cost estimate: $1,800,000
Classroom Building Addition
Brooks Campus Addition
26
27
Medicine Hat College
Consolidated Financial Statements
June 30, 2015
MEDICINE HAT COLLEGE
CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2015
Independent Auditor’s Report
Statement of Management Responsibility
Consolidated Statement of Financial Position
Consolidated Statement of Operations
Consolidated Statement of Remeasurement Gains and Losses
Consolidated Statement of Cash Flows
Notes to the Consolidated Financial Statements
Independent Auditor’s Report
To the Board of Governors of Medicine Hat College
Report on the Consolidated Financial Statements
I have audited the accompanying consolidated financial statements of Medicine Hat College, which comprise the
consolidated statement of financial position as at June 30, 2015, and the consolidated statements of operations,
remeasurement gains and losses, and cash flows for the year then ended, and a summary of significant accounting
policies and other explanatory information.
Management’s Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in
accordance with Canadian public sector accounting standards, and for such internal control as management determines
is necessary to enable the preparation of consolidated financial statements that are free from material misstatement,
whether due to fraud or error.
Auditor’s Responsibility
My responsibility is to express an opinion on these consolidated financial statements based on my audit. I conducted
my audit in accordance with Canadian generally accepted auditing standards. Those standards require that I comply
with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment
of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of
the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by
management, as well as evaluating the overall presentation of the consolidated financial statements.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.
Opinion
In my opinion, the consolidated financial statements present fairly, in all material respects, the financial position of
Medicine Hat College as at June 30, 2015, and the results of its operations, its remeasurement gains and losses, and its
cash flows for the year then ended in accordance with Canadian public sector accounting standards.
[Original signed by Merwan N. Saher FCPA, FCA]
Auditor General
October 24, 2015
Edmonton, Alberta
CONSOLIDATED FINANCIAL STATEMENTS
STATEMENT OF MANAGEMENT RESPONSIBILITY
YEAR ENDED JUNE 30, 2015
The consolidated financial statements of the Medicine Hat College have been prepared by management in
accordance with the Canadian public sector accounting standards. The consolidated financial statements present
fairly the financial position of the college as at June 30, 2015 and the results of its operations for the year then
ended.
In fulfilling its responsibilities and recognizing the limits inherent in all systems, management has developed and
maintains a system of internal control designed to provide reasonable assurance that college assets are
safeguarded from loss and that the accounting records are a reliable basis for the preparation of the consolidated
financial statements.
The Board of Governors is responsible for reviewing and approving the consolidated financial statements, and
overseeing management’s performance of its financial reporting responsibilities.
The Board of Governors carries out its responsibility for review of the consolidated financial statements
principally through its Finance and Audit Committee. With the exception of the President and CEO and VicePresident, Administration and Finance (both are non-voting members), all members of the Finance and Audit
Committee are not employees of the college. The Finance and Audit Committee meets with management and the
external auditor to discuss the results of audit examinations and financial reporting matters. The external auditor
has full access to the Finance and Audit Committee with and without the presence of management.
These consolidated financial statements have been reported on by the Auditor General of the Province of Alberta,
the auditor appointed under the Post-Secondary Learning Act. The Independent Auditor’s Report outlines the
scope of the audit and provides the audit opinion on the fairness of presentation of the information in the
consolidated financial statements.
(original signed)
President and Chief Executive Officer
(original signed)
Vice-President, Administration and Finance
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT JUNE 30
2015
ASSETS
Cash and cash equivalents (Note 4)
Portfolio investments (Note 5)
Accounts receivable (Note 8)
Inventories and prepaid expenses
Tangible capital assets (Note 9)
LIABILITIES
Accounts payable and accrued liabilities
Investment liability (Note 7)
Employee future benefit liabilities (Note 10)
Debt (Note 11)
Deferred revenue (Note 12)
2014
$
5,999,407
23,563,195
843,832
751,150
79,800,087
$
10,006,437
20,279,899
1,263,830
683,496
83,065,707
$
110,957,671
$
115,299,369
$
3,599,673
710,694
332,413
2,649,568
59,494,530
$
4,672,102
265,445
2,795,244
61,087,522
NET ASSETS
Endowments (Note 13)
Accumulated operating surplus (Note 14)
Accumulated remeasurement gains and losses
$
66,786,878
68,820,313
8,358,034
34,798,662
1,014,097
8,003,160
37,154,518
1,321,378
44,170,793
110,957,671
46,479,056
115,299,369
$
Contingent liabilities and contractual obligations (Note 16 and 17)
Approved by the Board of Governors (Note 24)
(original copy signed)
Chair, Board of Governors
(original copy signed)
Chair, Finance and Audit Committee
The accompanying notes are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENT OF OPERATIONS
YEAR ENDED JUNE 30
2015
Budget
2014
Actual
Actual
(Note 23)
Revenues
Government of Alberta grants (Note 21)
Federal and other government grants
Sales of services and products
Student tuition and fees
Donations
Investment income (Note 18)
$
Expenses (Note 19)
Instruction general
Instruction collaborative degrees
Academic support
Student support
Institutional support
Facility operations & maintenance
Ancillary services
Computing services
Sponsored research
Contingency
Operating surplus (deficit)
$
36,087,050
945,400
4,380,850
13,031,150
650,100
940,100
$
$
35,796,764
386,230
4,220,894
11,812,736
374,921
1,459,250
56,034,650
55,300,752
54,050,795
23,115,150
1,625,650
4,152,150
5,762,300
4,618,200
10,325,850
3,410,600
2,438,100
190,800
364,200
23,124,089
1,787,626
4,119,268
6,287,910
6,611,744
10,109,673
3,141,154
2,278,446
196,698
-
21,999,286
1,386,585
3,594,749
6,242,492
5,396,270
9,640,199
3,333,753
2,434,051
179,688
-
56,003,000
57,656,608
54,207,073
31,650
$
Accumulated operating surplus at beginning of year
Accumulated operating surplus at end of year (Note 14)
36,719,742
427,368
4,369,612
11,949,505
132,522
1,702,003
(2,355,856)
$
37,154,518
$
34,798,662
(156,278)
37,310,796
$
37,154,518
CONSOLIDATED STATEMENT OF REMEASUREMENT GAINS AND LOSSES
YEAR ENDED JUNE 30
2015
Accumulated remeasurement gains at beginning of year
$
Unrealized gains (losses) attributable to:
Investment liability
Amounts reclassified to consolidated statement of operations:
Accumulated remeasurement gains at end of year
$
1,321,378 $
2014
673,231
(3,460)
559,451
1,018,210
(863,272)
(370,063)
1,014,097
1,321,378
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30
2015
Operating transactions
Operating deficit
Add (deduct) non-cash items:
Amortization of tangible capital assets
Expended capital recognized as revenue
Loss on disposal of tangible capital assets
Change in employee future benefit liabilities
Total non-cash items
$
(2,355,856)
2014
$
(156,278)
5,530,622
(3,089,751)
184,858
66,968
336,841
5,287,386
(2,960,854)
106,805
(130,436)
2,146,623
419,998
(67,654)
(1,072,429)
710,694
1,602,076
1,929,526
502,993
165,664
472,882
233,537
3,521,699
Capital transactions
Acquisition of tangible capital assets
Cash applied to capital transactions
(2,449,860)
(2,449,860)
(6,146,552)
(6,146,552)
Investing transactions
Net (purchase) sale of portfolio investments
Cash applied to investing transactions
(3,666,542)
(3,666,542)
2,750,559
2,750,559
Financing activities
Repayment of debt
Endowment donations
Cash provided by financing transactions
(145,676)
325,522
179,846
(137,107)
65,465
(71,642)
Increase (decrease) in cash and cash equivalents
(4,007,030)
54,064
Cash and cash equivalents at beginning of year
10,006,437
9,952,373
Decrease in accounts receivable
(Increase) decrease in inventories and prepaid expenses
Increase (decrease) in accounts payable and accrued liabilities
Increase in investment liability
Increase in deferred revenue
Cash provided by operating transactions
Cash and cash equivalents at end of year (Note 4)
$
5,999,407
$
10,006,437
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2015
Note 1
Authority and Purpose
The Board of Governors of Medicine Hat College is a corporation which manages and operates
Medicine Hat College (“the College”) under the Post-Secondary Learning Act (Alberta). All members
of the Board of Governors are appointed by either the Lieutenant Governor in Council or the Minister
of Innovation and Advanced Education, with the exception of the President, who is an ex officio
member. Under the Post-Secondary Learning Act, Campus Alberta Sector Regulation, the College is a
comprehensive community institution offering diploma and certificate programs as well as a full range
of continuing education programs and activities. The College is a registered charity, and under section
149 of the Income Tax Act (Canada), is exempt from payment of income tax.
Note 2
Summary of Significant Accounting Policies and Reporting Practices
(a)
General – Canadian Public Sector Accounting Standards (PSAS) and Use of Estimates
These consolidated financial statements have been prepared in accordance with Canadian PSAS. The
measurement of certain assets and liabilities is contingent upon future events; therefore, the
preparation of these consolidated financial statements requires the use of estimates, which may vary
from actual results. Management uses judgment to determine such estimates. Amortization of tangible
capital assets and the revenue recognition for expended capital are the most significant items based on
estimates. In management’s opinion, the resulting estimates are within reasonable limits of materiality
and are in accordance with the significant accounting policies summarized below. These significant
accounting policies are presented to assist the reader in evaluating these consolidated financial
statements and, together with the following notes, should be considered an integral part of the
consolidated financial statements.
(b)
Net Debt Model Presentation
PSAS require a net debt presentation for the statement of financial position in the summary financial
statements of governments. Net debt presentation reports the difference between financial assets and
liabilities as net debt or net financial assets as an indicator of future revenues required to pay for past
transactions and events. The College operates within the government reporting entity, and does not
finance all its expenditures by independently raising revenues. Accordingly, these consolidated
financial statements do not report a net debt indicator.
2
Note 2
Summary of Significant Accounting Policies and Reporting Practices (continued)
(c)
Valuation of Financial Assets and Liabilities
The College’s financial assets and liabilities are generally measured as follows:
Financial Statement Component
Cash and cash equivalents
Accounts receivable
Portfolio investments
Investment liability
Fixed income investments
Accounts payable and accrued liabilities
Debt
Measurement
Amortized Cost
Amortized Cost
Fair Value
Fair Value
Amortized Cost
Amortized Cost
Amortized Cost
Unrealized gains and losses from changes in the fair value of unrestricted financial instruments are
recognized in the consolidated statement of remeasurement gains and losses. Upon settlement, the
cumulative gain or loss is reclassified from the consolidated statement of remeasurement gains and
losses and recognized in the consolidated statement of operations.
Unrealized gains and losses from changes in the fair value of restricted financial instruments are
recognized as a liability under deferred revenue.
All financial assets are tested annually for impairment. When financial assets are impaired,
impairment loses are recorded in the consolidated statement of operations. A write-down of a portfolio
investment to reflect a loss in value is not reversed for a subsequent increase in value.
For financial instruments measured using amortized cost, the effective interest rate method is used to
determine interest revenue or expense. Transaction costs are a component of cost for financial
instruments measured using cost or amortized cost. Transaction costs are expensed for financial
instruments measured at fair value.
Investment liabilities are recorded at fair value in the consolidated statement of financial position.
Investment liabilities with a positive or negative fair value are recognized as assets or liabilities.
Unrealized gains and losses from changes in fair value of investment liabilities are recognized in the
consolidated statement of accumulated remeasurement gains and losses. Upon settlement, the
cumulative gain or loss is reclassified from the consolidated statement of remeasurement gains and
losses and recognized in the consolidated statement of operations.
Management evaluates contractual obligations for the existence of embedded derivatives and elects to
either measure the entire contract at fair value or separately measure the value of the derivative
component when characteristics of the derivative are not closely related to the economic characteristics
and risks of the contract itself. Contracts to buy or sell non-financial items for the college’s normal
purchase, sale or usage requirements are not recognized as financial assets or financial liabilities. The
College does not have any embedded derivatives.
3
Note 2
(d)
Revenue Recognition
All revenues are reported on the accrual basis of accounting. Cash received for which goods or
services have not been provided by year end is recorded as deferred revenue.
Government grants, non-government grants and donations
Government transfers are referred to as government grants.
Restricted grants and donations are recognized as deferred revenue if the terms for use, or the terms
along with the College’s actions and communications as to the use, create a liability. These grants and
donations are recognized as revenue as the terms are met. If the grants and donations are used to
acquire or construct tangible capital assets, revenue will be recognized over the useful life of the
tangible capital asset.
Government grants without terms for the use of the grant are recorded as revenue when the College is
eligible to receive the funds. Unrestricted non-government grants and donations are recognized as
revenue in the year received or in the year the funds are committed to the College if the amount can be
reasonably estimated and collection is reasonably assured.
In kind donations of services, materials and tangible capital assets are recognized at fair value when a
fair value can be reasonably determined. Transfers of capital assets from related parties are recorded at
the carrying value. While volunteers contribute a significant amount of time each year to assist the
College, the value of their services is not recognized as revenue and expenses in the consolidated
financial statements because fair value cannot be reasonably determined.
Grants and donations related to land
Grants and donations for the purchase of land are recognized as deferred revenue when received, and
recognized as revenue when the land is purchased.
The College recognizes in-kind contributions of land as revenue at the fair value of the land when a
fair value can be reasonably determined. When the College cannot determine the fair value, it records
such in-kind contributions at nominal value.
Endowments
Donations that must be maintained in perpetuity are recognized as a direct increase in endowment net
assets when received or receivable. Investment income and realized gains that also must be maintained
in perpetuity are recognized as endowment net assets when received or receivable.
4
Note 2
(d)
Revenue Recognition (continued)
Investment income
Investment income includes dividends and interest income, and realized gains and losses on the sale of
portfolio investments. Unrealized gains and losses on portfolio investments from unrestricted grants
and donations are recognized in the consolidated statement of accumulated remeasurement gains and
losses until settlement. Once realized, these gains and losses are recognized as investment income.
Investment income from restricted grants and donations is recognized as deferred revenue when the
terms for use create a liability, and is recognized as revenue when the terms of the grant or donation
are met.
(e)
Inventories
Inventories held for resale are valued at the lower of cost and expected net realizable value and are
determined using the weighted average method.
(f)
Tangible Capital Assets
Tangible capital assets are recorded at cost, which includes amounts that are directly related to the
acquisition, design, construction, development, improvement or betterment of the assets. Cost includes
overhead directly attributable to construction and development.
Work in progress, which includes facilities and improvement projects and development of information
systems, is not amortized until after the project is complete and the asset is in service.
The cost, less residual value, of the tangible capital assets, excluding land, is amortized on a straightline basis over the estimated useful lives as follows:
Buildings and renovations
Site improvements
Furniture and equipment
Systems planning and development
Library acquisitions
40 years
25 years
4 to 25 years
10 years
10 years
Tangible capital assets are written down when conditions indicate that they no longer contribute to the
College’s ability to provide goods and services, or when the value of future economic benefits
associated with the tangible capital assets are less than their net book value. The net write-downs are
accounted for as expenses in the consolidated statement of operations.
5
Note 2
(f)
Tangible Capital Assets (continued)
Contributed capital assets are recorded as revenues at their fair market value on the date of donation,
except in circumstances where fair value cannot be reasonably determined, which are then recognized
at nominal value. Intangible assets, works of art, historical treasures and collections are expensed
when acquired and not recognized as tangible capital assets.
(g)
Employee Future Benefits
Pension
The College participates with other employers in the Local Authorities Pension Plan (LAPP). This
pension plan is a multi-employer defined benefit pension plan that provides pensions for the College’s
participating employees based on years of service and earnings.
The College does not have sufficient plan information on the LAPP to follow the standards for defined
benefit accounting, and therefore follows the standards for defined contribution accounting.
Accordingly, pension expense recorded for the LAPP is comprised of employer contributions to the
plan that are required for its employees during the year; which are calculated based on actuarially predetermined amounts that are expected to provide the plan’s future benefits.
Long-term disability
The cost of providing non-vesting and non-accumulating employee future benefits for compensated
absences under the College’s long-term disability plans is charged to expense in full when the event
occurs which obligates the College to provide the benefits. As the long-term disability plan is
unapproved by LAPP, the College is not obligated to make LAPP employer pension contributions once
an employee goes on long-term disability.
Leave plans
There are two leave plans in place. One for any eligible employee called the Deferred Salary Leave
Program (DSLP), and one for a previous employee. See Note 10 for more detail.
(h)
Basis of Consolidation
The financial statements are prepared on a line-by-line consolidated basis and include the accounts of
the controlled entity, Medicine Hat College Foundation.
6
Note 2
(i)
Expense by function
The College uses the following categories of functions on its consolidated statement of operations.
Instruction and academic, student and institutional support
Expenses relating to support for the academic functions of the College both directly and indirectly.
This function includes expenses incurred by faculties for their scholarly and non-sponsored research
activities and by institutional wide administrative services. Additionally, expenses for student awards
and bursaries and other programs involving teaching and learning, and community service specifically
funded by restricted grants and donations.
Facility operations and maintenance
Expenses relating to maintenance and renewal of facilities that house the teaching, research and
administrative activities within the College. These include utilities, facilities administration, building
maintenance, custodial services, landscaping and grounds keeping, as well as major repairs and
renovations.
Ancillary services
Expenses relating to services and products provided to the college community and to external
individuals and organizations. Services include the college bookstore, parking services, food services
and student residences.
Computing services
Expenses relating to services and products provided to the college community in relation to
information technology and communication services.
Sponsored research
Expenses for all sponsored research activities specifically funded by restricted grants and donations.
(j)
Funds and Reserves
Certain amounts, as approved by the College’s Board of Governors, are set aside in accumulated
surplus for future operating and capital purposes. Transfers to / from funds and reserves are an
adjustment to the respective fund when approved.
Note 3
Change in Accounting Standards
In June 2010, the Public Sector Accounting Board issued PS 3260 Liability for Contaminated Sites.
This accounting standard is effective for fiscal years starting on or after April 1, 2014. Contaminated
sites are a result of contamination being introduced into air, soil, water, sediment of material
(chemical, organic, radioactive) or live organism that exceeds an environmental standard. The
adoption of this standard does not result in any adjustments to these consolidated financial statements.
7
Note 4
Cash and Cash Equivalents
2015
Cash on hand
Bank balances
Demand deposits
Note 5
2014
$
9,050
5,990,357
-
$
8,508
5,997,929
4,000,000
$
5,999,407
$
10,006,437
Portfolio Investments
The composition and fair value on portfolio investments are as follows:
2015
Level 1
Investments at Cost or Amortized Cost
Money Market
Short-term GIC's
Investments at Fair Value
Short-term GIC's
Canadian Equity Fund
Foreign Equity Fund
Bond Fund
Level 2
Level 3
Total
$
-
$
-
$
-
$
1,976,758
6,000,000
$
-
$
136,833 $
6,835,837
2,152,162
6,461,605
-
$
136,833
6,835,837
2,152,162
6,461,605
$
-
$
15,586,437 $
-
$
23,563,195
2014
Level 1
Investments at Cost or Amortized Cost
Money Market
Short-term GIC's
Investments at Fair Value
Canadian Equity Fund
Foreign Equity Fund
Bond Fund
Level 2
Level 3
Total
$
-
$
-
$
-
$
1,547,448
4,000,000
$
-
$
6,519,457 $
2,265,411
5,947,583
-
$
6,519,457
2,265,411
5,947,583
$
-
$
14,732,451 $
-
$
20,279,899
8
Note 5
Portfolio Investments (continued)
Short-term GIC’s held at June 30, 2015 were earning 1.25% (2014 – 1.87%). The average days to
maturity were 130 days (2014 – 149 days).
The effective annual rate of earnings on portfolio investments at June 30, 2015 was 5.78% (2014 –
4.83%) determined on a weighted average basis.
The fair value measurements are those derived from:
Level 1 – Quoted prices in active markets for identical assets or liabilities;
Level 2 – Market-based inputs other than quoted prices that are observable for the asset or liability
either directly as prices or indirectly derived from prices;
Level 3 – Inputs for the asset or liability that are not based on observable market data; assumptions are
based on the best internal and external information available and are most suitable and appropriate
based on the type of financial instrument being valued in order to establish what the transaction price
would have been on the measurement date in an arm’s length transaction.
Unrealized gains and losses on restricted funds
2015
Net unrealized gains, beginning of year
$
Unrealized gains attributable to:
Amounts reclassified to consolidated statement of operations
Net unrealized gains, end of year
$
2014
681,921 $
286,890
139,881
620,576
(215,846)
(225,545)
605,956 $
681,921
9
Note 6
Financial Risk Management
The College is exposed to a variety of financial risks, including market risks (price risk, currency risk
and interest rate risk), credit risk, and liquidity risk. To manage these risks, the College invests in a
diversified portfolio of investments that is guided by established investment policies that outline risk
and return objectives. The long term objective of the College’s investment policies is to achieve a long
term real rate of return in excess of fees and expenses and maintain the real value of the fund.
The College is exposed to the following risks:
Market risk
Market risk is the risk that the value of a financial instrument will fluctuate as a result of changes in
market prices, whether those changes are caused by factors specific to the individual security, its issuer
or general market factors affecting all securities. To manage this risk, the College has established an
investment policy with a target asset mix that is diversified by asset class with individual issuer limits
and is designed to achieve a long-term rate of return that in real terms equals or exceeds total
endowment expenditures with an acceptable level of risk.
The following details the College’s portfolio sensitivity to a 1% increase or decrease in market price
benchmarks. The market price benchmarks consist of 10% FTSE TMX 91 Day T-bills, 40% FTSE
TMX Canada Universe Bond Index, 25% S&P/TSX Capped Composite Index (TRI) , and 12.5% S&P
500 Index (TRI C$) and 12.5% MSCI EAFE. The sensitivity rate is determined using the historical
standard deviation for the total fund as determined by the investment advisor. At June 30, 2015, if
market prices had a 1% (2014 – 1%) increase or decrease, with all other variables held constant, the
increase or decrease in the market value of the investment portfolio for the year would have been a
total of $139,080 (2014 - $143,440).
Foreign currency risk
The College does not hold investments denominated in foreign currency. The College does maintain a
foreign bank account to pay invoices in foreign currency; however the risk exposure to foreign
currency fluctuations is minimal.
Credit risk
The College is exposed to credit risk on investments arising from the potential failure of a
counterparty, debtor or issuer to honor its contractual obligations. To manage this risk, the College has
established an investment policy with required minimum credit quality standards and issuer limits.
The credit risk from accounts receivable is relatively low as the majority of balances are due from
government agencies and corporate sponsors. Credit risk from tuition is managed through restricted
enrolment activities for students with delinquent balances and maintaining standard collection
procedures.
2015
Money Market
Credit rating
AAA
AA
A
BBB
Not rated
Balance, end of year
6.3%
49.4%
34.8%
0.0%
9.5%
100.0%
Bond Fund
25.6%
11.2%
50.8%
9.9%
2.5%
100.0%
2014
Money market
Bond Fund
14.6%
25.1%
49.0%
0.0%
11.3%
100.0%
21.7%
24.9%
45.8%
7.6%
0.0%
100.0%
10
Note 6
Financial Risk Management (continued)
Liquidity risk
The College maintains a short-term line of credit to ensure that funds are available to meet current and
forecasted financial requirements in the most cost effective manner.
Interest rate risk
Interest rate risk is the risk to the College’s earnings that arise from the fluctuations in interest rates
and the degree of volatility of these rates. This risk is managed by investment policies that limit the
term to maturity of certain fixed income securities that the College holds. Interest risk on the College’s
debt is managed through fixed-risk agreements with Alberta Capital Finance Authority (Note 11).
The maturity and effective market yield of interest bearing investments are as follows:
Less than 1
year
Short-term GIC's
Long-term investments
Note 7
1 to 5 years
100.0%
0%
Greater than 5
years
0%
22.5%
0%
77.5%
Average
effective
market yield
1.25%
2.3%
Investment Liability
The College engaged in the short selling of bonds in order to minimize interest rate exposure on certain
investments. All outstanding obligations have a remaining term to maturity of less than one year with
a total book value of $703,617 (2014 – nil). The fair value of the outstanding obligation is $710,694
(2014 – nil).
Note 8
Accounts Receivable
2015
Accounts receivable
Accrued interest
GST receivable
Accounts receivable are unsecured and non-interest bearing.
2014
$
710,372
13,504
119,956
$
1,022,864
74,789
166,177
$
843,832
$
1,263,830
11
Note 9
Tangible Capital Assets
Buildings and
renovations
Land
Cost
Beginning of year
$
Additions
Disposals, including write-downs and transfers
$
Accumulated Amortization
Beginning of year
Amortization expense
Effect of disposals
Net book value at June 30, 2014
$
Library
acquisitions
Total
107,867,059 $
191,277
-
15,015,086 $
237,561
-
18,843,352 $
1,827,424
(1,070,141)
1,458,861 $
24,731
-
6,134,963 $ 150,872,321
168,867
2,449,860
(91,238)
(1,161,379)
1,553,000
108,058,336
15,252,647
19,600,635
1,483,592
6,212,592
152,160,802
-
42,515,036
2,958,956
-
8,752,573
348,595
-
10,921,515
1,805,895
(885,283)
916,790
127,962
-
4,700,700
289,214
(91,238)
-
45,473,992
9,101,168
11,842,127
1,044,752
4,898,676
67,806,614
5,530,622
(976,521)
72,360,715
62,584,344 $
6,151,479 $
7,758,508 $
1,313,916 $
79,800,087
1,553,000 $
Buildings and
renovations
Land
Cost
Beginning of year
$
Additions
Disposals, including write-downs and transfers
Systems planning
and development
1,553,000 $
-
Accumulated Amortization
Beginning of year
Amortization expense
Effect of disposals
Net book value at June 30, 2015
2015
Site
Furniture and
improvements
equipment
2014
Site
Furniture and
improvements
equipment
438,840 $
Systems planning
and development
Library
acquisitions
Total
1,553,000 $
-
104,461,804 $
3,405,255
-
14,711,870 $
303,216
-
17,999,624 $
2,170,457
(1,326,729)
1,494,330 $
23,350
(58,819)
5,934,971 $ 146,155,599
244,274
6,146,552
(44,282)
(1,429,830)
1,553,000
107,867,059
15,015,086
18,843,352
1,458,861
6,134,963
150,872,321
-
39,717,147
2,797,889
-
8,410,235
342,338
-
10,421,817
1,719,622
(1,219,924)
843,986
131,623
(58,819)
4,449,068
295,914
(44,282)
-
42,515,036
8,752,573
10,921,515
916,790
4,700,700
63,842,253
5,287,386
(1,323,025)
67,806,614
65,352,023 $
6,262,513 $
7,921,837 $
542,071 $
1,434,263 $
83,065,707
1,553,000 $
No interest was capitalized by the College in 2015 (2014 – nil).
Included in buildings and renovations is $203,415 (2014 - $8,143,488) recorded as construction in
progress and recorded in furniture and equipment is $0 (2014 - $1,412) recorded as work in progress,
which is not amortized as the assets are not in service.
12
Note 10
Employee Future Benefit Liabilities
Employee future benefit liabilities are comprised of the following:
2015
Employee future benefit liabilities
$
332,413
2014
$
265,445
Leave Plans
There are two leave plans in place. One for any eligible employee called the Deferred Salary Leave
Program (DSLP), and one for a previous employee.
The DSLP allows an employee to defer a specified monthly amount, or an annual percentage of annual
regular gross salary up to a maximum of 33 1/3 percent. The total period of the deferral cannot exceed
a maximum of six years.
There is an outstanding amount related to a previous employee. This employment ended on June 19,
2013, and as at June 30, 2015, there is still an outstanding amount.
Retiring Allowance
There is an outstanding amount related to a previous employee. This employment ended on June 19,
2013, and as at June 30, 2015, there is still an outstanding amount.
Multi-Employer Pension Plans
The Local Authority Pension Plan (LAPP) is a multi-employer contributory defined benefit pension
plan for support staff members and is accounted for on a defined contribution basis. At December 31,
2014, the LAPP reported an actuarial deficiency of $2,454,636,000 (2013 - $4,861,516,000
deficiency). Other than increased contributions, the College is not responsible for these losses. An
actuarial valuation of the LAPP was carried out as at December 31, 2013 and the results were then
extrapolated to December 31, 2014. The pension expense recorded in these consolidated financial
statements is $3,158,863 (2014 - $2,823,982).
13
Note 11
Debt
Debt is measured at amortized cost and is comprised of the following:
2015
Maturity
Interest Rate
May 2027
6.25
Amortized
Cost
2014
Amortized
Cost
Debentures payable to Alberta
Capital Finance Authority:
Student residences
$
2,649,568 $
$
154,780
164,454
174,733
185,653
197,257
1,772,691
$
2,649,568
2,795,244
Principal repayments in each of the next five years and thereafter are as follows:
2016
2017
2018
2019
2020
Thereafter
Collateral for all long-term debt is the title to student residence land and buildings.
Interest expense on debt is $173,207 (2014 - $181,863) and is included in the consolidated statement of
operations.
14
Note 12
Deferred Revenue
Deferred revenues are set aside for specific purposes as required either by legislation, regulation or
agreement.
2015
Restricted
Deferred
Unspent
and other
capital
Spent capital
and other
restricted
contributions
contributions
fees
Total
55,377,758 $
1,078,026 $
61,087,522
5,622,109
940,414
-
915,735
7,478,258
Restricted investment income (Note 18)
535,429
30,268
-
-
565,697
Transfers
(500,781)
500,781
-
-
-
Unrealized gain on deferred contribution investments
(70,648)
(5,318)
-
-
(75,966)
(4,841,655)
(580,017)
Transferred to endowments (Note 13)
(4,352)
(25,000)
-
-
(29,352)
Transferred to spent capital funding
(34,709)
(497,685)
532,395
-
-
-
-
-
57,819
57,819
4,097,961 $
1,602,613 $
52,820,402 $
973,554 $
Grants, tuition, donations received
Recognized as revenue
Other
$
3,392,568 $
Tuition
1,239,170 $
Balance, beginning of year
$
Research
(3,089,751)
(1,078,026)
(9,589,449)
59,494,530
2014
Restricted
Deferred
$
Grants, tuition, donations received
Restricted investment income (Note 18)
Transfers
Unrealized gain on deferred contribution investments
Recognized as revenue
Research
Unspent
Tuition
and other
capital
Spent capital
and other
restricted
contributions
contributions
fees
58,018,752 $
Total
3,156,021 $
961,090 $
4,005,754
885,768
-
398,482
27,415
-
-
425,897
-
-
-
-
-
339,507
55,524
-
-
395,031
(4,472,900)
(403,829)
(2,960,854)
1,285,179 $
63,421,042
1,023,881
5,915,403
(1,400,379)
(9,237,962)
Transferred to endowments (Note 13)
(1,234)
-
-
-
(1,234)
Transferred to spent capital funding
(33,062)
(286,798)
319,860
-
-
-
-
-
169,345
169,345
3,392,568 $
1,239,170 $
55,377,758 $
1,078,026 $
Other
$
61,087,522
15
Note 13
Endowments
Endowments consist of externally restricted donations received by the College and internal allocations
by the College’s Board of Governors, the principal of which is required to be maintained intact in
perpetuity.
Investment income earned on endowments must be used in accordance with the various purposes
established by the donors or the Board of Governors. Benefactors as well as college policy stipulate
that the economic value of the endowments must be protected by limiting the amount of income that
may be expended and reinvesting unexpended income.
Under the Post-Secondary Learning Act, the College has the authority to alter the terms and conditions
of endowments to enable:
 income earned by the endowment to be withheld from distribution to avoid fluctuations in the
amounts distributed and generally to regulate the distribution of income earned by the endowment.
 encroachment on the capital of the endowment to avoid fluctuations in the amounts distributed and
generally to regulate the distribution of income earned by the endowment if, in the opinion of the
Board of Governors, the encroachment benefits the College and does not impair the long-term
value of the fund.
The composition of endowments is as follows:
2015
2014
Gifts of endowment principal
Transfer from deferred revenue (Note 12)
$
8,003,160
325,522
29,352
$
7,936,461
65,465
1,234
$
8,358,034
$
8,003,160
16
Note 14
Accumulated Operating Surplus
The composition of accumulated operating surplus is as follows:
Accumulated
Internally
Investment in
Total
Surplus (Deficit)
from Operations
Restricted
Tangible
Capital Assets
Operating Surplus
Surplus
Accumulated
Note 15
Balance as at June 30, 2013
$
Operating surplus
Net transfers
Acquisition of capital assets
Debt - repayment
Net book value of asset disposals
Amortization of investment in capital assets
$
(156,278)
(900,000)
(5,826,692)
(137,107)
106,804
2,326,532
$
Operating surplus (deficit)
Net transfers
Acquisition of capital assets
Debt - repayment
Net book value of asset disposals
Amortization of investment in capital assets
5,923,553
1,336,812
21,546
$
900,000
$
(2,355,856)
478,000
(1,917,463)
(145,676)
184,858
2,440,871
$
10,025,000
10,925,000
10,447,000
$
5,826,692
137,107
(106,804)
(2,326,532)
$
(478,000)
$
21,362,243
24,892,706
(156,278)
$
1,917,463
145,676
(184,858)
(2,440,871)
$
24,330,116
37,310,796
37,154,518
(2,355,856)
-
$
34,798,662
Investment in tangible capital assets represents the amount of the College’s accumulated operating
surplus that has been invested in the College’s capital assets.
17
Note 15
Internally Restricted Surplus
Internally restricted surplus represent amounts set aside by the College’s Board of Governors for
specific purposes. Those amounts are not available for other purposes without the approval of the
Board and do not have interest allocated to them.
Internally restricted net assets with significant balances include:
2015
Non-Capital:
Contingency
Degree Completion
$
Capital:
Generations Community Commons
Visual Communications Facility
Computers and technology
Ancillary services - student residence and related parking
Ancillary services - parking
950,000
500,000
1,450,000
2014
$
6,000,000
2,000,000
652,000
345,000
8,997,000
$
10,447,000
2,500,000
1,500,000
4,000,000
6,000,000
580,000
345,000
6,925,000
$
10,925,000
Note 16 Contingent Liabilities
The College has identified potential asset retirement obligations related to the existence of asbestos in
a number of its facilities. Although not a current health hazard, upon renovation or demolition of these
facilities, the College may be required to take appropriate remediation procedures to remove the
asbestos. As the College has no legal obligation to remove the asbestos in these facilities as long as the
asbestos is contained and does not pose a public health risk, the fair value of the obligation cannot be
reasonably estimated due to the indeterminate timing and scope of the removal. The asset retirement
obligations for these assets will be recorded in the period in which there is certainty that the capital
project will proceed and there is sufficient information to estimate fair value of the obligation.
The College is a defendant in two legal proceedings. While the ultimate outcome and liability of these
proceedings cannot be reasonably estimated at this time, the College believes that any settlement will
not have a material adverse effect on the financial position or the results of operations of the College.
Management has concluded that the claims do not meet the criteria for being recorded under PSAS.
18
Note 17
Contractual Obligations
The College has contractual obligations which are commitments that will become liabilities in the
future when the terms of the contracts or agreements are met.
The estimated aggregate amounts payable for the unexpired terms of these contractual obligations are
as follows:
2015
Service
Contracts
2016
2017
2018
2019
2020
Note 18
Capital
Contracts
Total
$
2,154,468 $
628,715
69,915
24,524
-
82,678 $
-
2,237,146
628,715
69,915
24,524
-
$
2,877,622 $
82,678 $
2,960,300
Investment Income
2015
Income on investments held for endowments
Income on other investments
$
535,429 $
1,732,271
2,267,700
(565,697)
398,482
1,486,665
1,885,147
(425,897)
$
1,702,003
1,459,250
Amounts deferred (Note 12)
Investment income
2014
$
19
Note 19
Expense by Object
The following is a summary of expense by object.
2015
Budget
2014
Actual
Actual
Note 23
Salaries and benefits
Supplies and services
Maintenance and repairs
Utilities
Scholarships and bursaries
Cost of goods sold
Interest on long-term liabilities
Amortization of capital assets, including loss on disposals
Note 20
$
36,160,650
10,010,200
729,000
1,502,550
627,500
1,256,500
176,700
5,539,900
$
38,680,324
9,849,649
624,664
1,039,008
543,423
1,030,853
173,207
5,715,480
$
35,393,985
9,476,545
567,739
1,199,531
729,199
1,264,021
181,863
5,394,190
$
56,003,000
$
57,656,608
$
54,207,073
Funds Held on Behalf of Others
The College holds the following funds on behalf of others over which the Board has no power of
appropriation. Accordingly, these funds are not included in the consolidated financial statements.
2015
Further Education Council
Alberta Student Services Conference
Students' Association
Faculty Association
Conservatory Groups
Homestay fees from international students
Association of Continuing Care Educators
College Players
Rattler Athletic Academies
Mens Basketball Spring League
2014
$
28,788
45
369,337
12,329
66,983
30,313
1,644
(5,548)
-
$
22,605
45
320,595
12,461
58,957
31,104
1,644
1,900
2,233
$
503,891
$
451,544
20
Note 21 Government of Alberta Transactions and Balances
The College operates under the authority and statutes of the Province of Alberta. Transactions and
balances between the College and the Government of Alberta (GOA) are measured at the exchange
amount and summarized below.
The College has long-term liabilities with Alberta Capital Finance Authority as described in Note 11.
2015
Grants from GOA
Innovation and Advanced Education
Operating
Capital
Total Innovation and Advanced Education
$
2014
33,304,545 $
840,781
34,145,326
31,679,518
825,736
32,505,254
Other Post-secondary Institutions
412,746
470,641
Other GOA departments and agencies:
Other
468,700
262,254
$
35,026,772 $
2,886,889
(1,193,919)
33,238,149
2,758,394
(199,779)
$
36,719,742 $
35,796,764
Total contributions received
Add: restricted expended capital recognized as revenue
Less: deferred revenue
Accounts Receivable
Other GOA departments and agencies
Other Post-secondary Institutions
58,750
64,565
73,750
77,557
$
123,315 $
151,307
$
750 $
68,035
Accounts Payable
Innovation and Advanced Education
21
Note 22
Salary and Employee Benefits
Under the authority of the Fiscal Management Act, the President of the Treasury Board and the
Minister of Finance requires the disclosure of certain salary and employee benefits information.
2014 Restated (6)
2015
Base
Salary
Cash
(1)
Benefits
Non-Cash
(2)
Benefits (3)
Total
Total
Governance (4)
Chairman of Board
-
4,425
162
4,587
4,697
Board (10 members)
-
20,250
646
20,896
15,857
235,000
189,488
160,911
156,715
93,414
-
7,000
27,097
14,527
11,127
-
42,928
35,895
35,537
32,676
24,089
-
284,928
252,480
210,975
189,391
128,630
-
268,646
188,020
483,896
157,731
147,897
Executive
President/CEO
Vice-President, Academic
(5)
Vice-President, Advancement & Community Relations
Vice-President, Administration & Finance
(7)
Associate Vice-President, Student Development
Dean of Science
1)
2)
3)
4)
5)
6)
7)
8)
.
(8)
(6)
Base Salary includes pensionable base pay.
Other Cash Benefits include vacation payouts, car allowances, cell phone allowances, honoraria
where applicable and other lump sum payments, including severance.
Other Non-cash Benefits include the employer’s share of all other employee benefits and
contributions or payments made on behalf of employees including pension, health care, dental,
group life insurance, employment insurance and remission of tuition fees.
The chair and members of the Board of Governors receive no remuneration for participation on the
board. Other cash benefits consist only of honorariums.
Two individuals occupied this position in the current fiscal year.
Two individuals occupied this position in the current fiscal year. The position title was renamed
from Vice-President, Student & College Services. The 2014 figures have been restated by
$148,856 to appropriately account for the total cash benefits received by the Vice-President,
Student & College Services during the June 30, 2014 fiscal year.
The position title was renamed from Chief Financial Officer to Vice-President, Administration and
Finance effective September 15, 2014.
Associate Vice-President, Student Development position was created on October 27, 2014.
22
Note 23
Budget Figures
Budgeted figures have been provided for comparison purposes and have been derived from the
College’s Comprehensive Institutional Plan as approved by the Board of Governors.
Note 24
Approval of Consolidated Financial Statements
These consolidated financial statements were approved by the Board of Governors of Medicine Hat
College.
www.mhc.ab.ca

annual report - Medicine Hat College

Transcription

Similar documents

September / October - Misericordia Health Centre

Teleplan Annual Report 2007 from website

Teleplan_GB_2006_Final

Term Life Insurance - American Family Insurance

halloween - Goodwill

SEPARATION INTERNALS - HAT International Ltd

management essentials - University of Alberta

pbskids.org/catinthehat

Hotter Than a Scorned Woman

Progress Notes - LVHN Scholarly Works

NLRC5 regulates MHC class I antigen presentation in host defense

Our Mission December 2014 Newsletter

elling? - City of Medicine Hat

Year-End Report

koç holdi̇ng a.ş. consolidated financial statements at

MHC Calendar - Medicine Hat College

PGE Polska Grupa Energetyczna S.A. Consolidated Financial