draft 2014-2015 - Keyano College

Transcription

TABLE OF CONTENTS
ACCOUNTABILITY STATEMENT ............................................................................................................. 2
MANAGEMENT RESPONSIBILITY FOR REPORTING ..................................................................... 2
MESSAGE FROM THE BOARD CHAIR .................................................................................................... 3
MESSAGE FROM THE PRESIDENT & CEO ........................................................................................... 4
AWARDS AND ACHIEVEMENTS .............................................................................................................. 5
THE YEAR IN REVIEW .................................................................................................................................. 9
OPERATIONAL OVERVIEW .....................................................................................................................12
MANDATE .................................................................................................................................................... 13
MISSION STATEMENT ............................................................................................................................ 14
VISION ........................................................................................................................................................... 14
CORE PROGRAMS ..................................................................................................................................... 14
REGIONAL FACILITIES ........................................................................................................................... 15
QUICK FACTS .............................................................................................................................................. 15
GOVERNANCE AND ADMINISTRATION .............................................................................................16
SUBSIDIARY AND DEDICATED ORGANIZATIONS ........................................................................22
KEYANO COLLEGE FOUNDATION...................................................................................................... 22
KEYANO COLLEGE LAND TRUST CORPORATION ....................................................................... 23
COLLABOATION AND RELATIONSHIPS .......................................................................................... 24
GOALS, PRIORITY INITIATIVES, EXPECTED OUTCOMES AND PERFORMANCE
MEASURES .......................................................................................................................................................26
ENROLLMENT PLAN ...................................................................................................................................52
FINANCIAL AND BUDGET INFORMATION .......................................................................................53
INTERNATIONALIZATION .......................................................................................................................59
INFORMATION TECHNOLOGY ...............................................................................................................60
CAPITAL PLAN ...............................................................................................................................................62
APPENDICES ...................................................................................................................................................63
AUDITED FINANCIAL STATEMENTS ................................................................................................ 64
1
ACCOUNTABILITY STATEMENT
The Keyano College Annual Report for 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 PostSecondary Learning Act. All material economic, environmental or fiscal implications of which we are aware have
been considered in the preparation of this report.
[Original signed by Kara Flynn]
Kara Flynn
Chair, Board of Governors
December 14, 2015
MANAGEMENT RESPONSIBILITY FOR
REPORTING
Keyano 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, are executed in accordance with all relevant
legislation, regulations and policies, reliable financial records are maintained, and assets are properly accounted
for and safeguarded.
The Annual Report has been developed under the oversight of the institution audit committee, as well as
approved by the Board of Governors, and is prepared in accordance with the Fiscal Management Act and the
Post-Secondary Learning Act.
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, which are prepared
in accordance with Canadian public sector accounting standards.
[Original signed by Dr. Kevin Nagel]
Kevin Nagel, PhD, ICD.D
President & CEO
December 14, 2015
[Original signed by Alnoor Aziz]
Alnoor Aziz
Acting, Chief Financial Officer
December 14, 2015
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MESSAGE FROM THE BOARD CHAIR
Dear Friends,
In spite of the challenges that the new economic environment has posed, the Board remains committed to our three
institutional goals: Enhance the student experience, Pursue academic excellence, and, Advance institutional
sustainability. Fostering strong relationships within our community has always been important for Keyano. The
collaborations and partnerships that we have established help us deliver an enhanced mix of programs and services
uniquely tailored to the needs of our region. This focus helps us become a more relevant and valued institution.
Over the past year, Keyano has continued to work with its industry and community partners to ensure students
across our region have improved access to high quality education and training. The acquisition of mobile simulators
through funding jointly provided by Western Economic Diversification Canada (WEDC) and industry is one
example of such an improvement. The simulators will enable Keyano to train Aboriginal and rural students locally
for careers in Heavy Equipment Operation. Keyano is also involved in the establishment of a learning provider
network for Basic Safety Orientation, which is required for workers to access oil sands sites. In this regard, Keyano
has engaged with other post-secondary education institutions and training providers to harmonize safety training
curriculum, and, to facilitate the improved efficiency and effectiveness of safety training delivery.
Keyano’s plan for the future includes enhancing its infrastructure which will enable its growth as both an
educational and cultural centre. This past year, we continued to move forward with our plan to construct a new
student residence on the Clearwater Campus. In addition, many spaces across the College were revitalized as part
of our commitment to provide welcoming facilities that support excellence in both teaching and learning. We also
worked with the Regional Municipality of Wood Buffalo on external funding plans to expand the Keyano Theatre,
which, included the Municipality’s approval of $10 million in grant funding for the project.
Every year I am struck by our community’s commitment to provide each and every student with an excellent
educational experience. Thanks to all students, staff, faculty, administration and community stakeholders for your
continued support and efforts to make Keyano College a great place to learn.
Sincerely,
[Original signed by Kara Flynn]
Kara Flynn
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MESSAGE FROM THE PRESIDENT & CEO
Dear Community Members,
The 2014/15 academic year brought with it both challenge and change. Declining revenues required us to focus on
collaboration to meet the needs of our community and to fine-tune our operations as we adjust to our new fiscal
reality. Collaboration enables us to increase the reach and relevance of our programming while ensuring that our
students have access to quality education in their communities. In February, Keyano signed a Memorandum of
Understanding (MOU) with the University of Alberta to deliver a Collaborative Degree in Elementary Education.
Through a similar collaborative arrangement with NAIT, students will also now be able to complete all four years
of a degree in Business Administration at Keyano beginning in the 2015/16 academic year.
In an effort to realize efficiencies through technology, we launched an employee self-serve Human Resources portal
while also assessing the efficacy of introducing an electronic ticketing system for our Facilities department.
Additionally, we worked throughout the year to update our policies and procedures, and to provide a new interface
for employees to view these documents. By consulting with our student body, we secured input with respect to our
Comprehensive Institutional Plan, and, revised our Student Code of Conduct and Student Rights policy.
Cultural initiatives included presenting a successful Four Play Theatre series and a new youth camp focused on the
arts. Our Foundation Team hosted our annual Gala fundraiser which attracted more than twelve hundred guests in
support of scholarships, programming, athletics and infrastructure improvements. Our One-on-One fundraiser also
welcomed six NHL Hall of Famers to our community. Our athletic department enjoyed another successful season
in 2014/15. Our Men’s Soccer team took gold at the Alberta Colleges Athletic Conference (ACAC) Championships
and Keyano represented the ACAC at the 2015 Canadian Collegiate Athletic Association Men’s Soccer
Championships. We also hosted two ACAC Championships in Men’s Basketball and Cross-Country. Our Men’s
Hockey team finished in the top four in ACAC competition, and our Men’s Futsal team won ACAC gold for the
third consecutive year! Four Husky athletes were also recognized with an Academic All-Canadian Award.
We are fortunate to be part of a supportive community and we appreciate the resources, time, and commitment of
our partners over the past year. We are also grateful for the dedication of our staff, faculty and administrative teams
as they strive to make Keyano College the very best educational and training experience possible.
Sincerely,
[Original signed by Kevin Nagel]
President & CEO, Keyano College
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AWARDS AND ACHIEVEMENTS
STUDENT AWARDS AND ACHIEVEMENTS
Keyano prides itself on supporting students in their pursuit of excellence in academics, athletics and community
leadership. In 2014/15, 239 students were recognized for their exceptional performance, and 275 awards including
scholarships and bursaries were granted totalling $273,000. Eight students received Excellence Scholarships
totalling $30,886, and eight international students received awards totalling $11,200.1
Canadian Association of Petroleum Producers Scholarship
The Calgary Foundation - Canadian Association of Petroleum Producers
Dana Antunes Da Costa
Iya Majed
C.I.M. Oilsands Branch, Branch École Polytechnique Memorial Award
Oilsands Branch of the Canadian Institute of Mining and Metallurgy
Bryce Golosky
P&H MinePro Services Canada Process Operations Award
P&H MinePro Services Canada Ltd.
Robert Mogensen
Shell Canada Women in Trades Power Engineering Award
Shell Canada Ltd.
Justine Freed
Suncor Energy Rick George Leadership Award
Suncor Energy Foundation
Gabrielle Duncan
Syncrude Canada Ltd. Nursing Entrance Scholarship
Syncrude Canada Ltd.
Maegan Penafiel
Tim Walsh Business Administration Award
Tim Walsh
Tommy Barszcz
Waiward Steel Commitment to Excellence
Waiward Steel Fabricators Ltd.
Scott Sandercock
1
A full list of academic achievement awards is available at:
http://www.keyano.ca/Admissions/FinancialAid/AwardsScholarship.
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Wilson Industries Engineering Scholarship
H. Wilson Industries Ltd., John Wilson
Nympha Escobar
Michael Warren
Christopher Regular
Wood Buffalo Aboriginal Achievement Award
Anonymous
Brittany McDonald
Colton Smorong
Owen Sobchak
Hana Wylie
Governor General’s Academic Medal
Valerie Varnell was named the 2015 valedictorian, and was awarded the 2015 Governor General’s Academic
Medal. She graduated from the Early Learning and Child Care (ELCC) Diploma program with a 4.0 GPA. Created
in 1873 by the Earl of Dufferin, Governor General of Canada, these medals are awarded for superior academic
achievement by Canadian students.
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ATHLETIC AWARDS AND ACHIEVEMENTS
Athletics is a major part of campus life at Keyano, and we take great pride in the exceptional accomplishments of
both our Huskies teams and our individual athletes. Keyano Huskies had a stellar year in 2014/15 with
outstanding performances at the provincial and national levels of competition.
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Men’s Futsal – Third consecutive Alberta Colleges Athletic Conference (ACAC) Futsal Gold.
Men’s Hockey – Inaugural ACAC play-off appearance finishing fourth.
Men’s Soccer – ACAC silver medalists and a fifth place finish at the Canadian Collegiate Athletic
Association (CCAA) Nationals.
Men’s Basketball – ACAC fourth place finish.
Cross-country Running – Fourth in the ACAC and a top 10 at CCAA Nationals.
Women’s Basketball – Inaugural ACAC appearance at the Provincial Championship tournament.
Academic Progression – The Huskies boast 18 students with a CCAA All-Academic Award with 32 Huskies
earning ACAC All-Academic Award status.
Canadian Collegiate Athletic Association Academic All Canadian Award Recipients
The Huskies earned four All-Canadian Awards. Lance Wesolowski (basketball), Kiharo Waiganio (soccer),
Luke Arthur (soccer), and Nikki Friesen (volleyball) maintained an honours standing in their academic
programs while also being named to their respective all-star teams.
Alberta Colleges Athletic Conference Academic Athlete Award Recipients
In addition to our four All-Canadian recipients, 28 Keyano students earned honours academic standing while
balancing the demands of their sporting field. Congratulations to: Medihanit McGillis (soccer), Calia Hanks
(basketball), Kristen Brenton (volleyball), Carson Haywood-Farmer (soccer), Arda Yazgan (volleyball),
Alex Andryszewski (volleyball), Brandon Tidy (hockey), Drake Hart (hockey), Jelayne Dubielew
(basketball), Nathan Aulenbach (soccer), Lacey Quick (soccer), Kelsey Bergey (volleyball), Samuel Rockwell
(hockey), Rodrigo Tavares (soccer), Arielle Prasad (soccer), Jonathon McMullin (hockey), Chelsea Turner
(basketball), Nicole Waldron (basketball), Nicole Robinson (volleyball), Laura Conibear (soccer), Andre
Souza (volleyball), Krystle Gibbons (soccer), Shelby Currie (soccer), Lisa Harrison (running), Arthur De
Vito (soccer), William Sedonick-Carriere (soccer), and Blazej Pellowski (volleyball).
Alberta Colleges Athletic Conference Player of the Year
Pedro Bianchi was named the ACAC Futsal Player of the Year. A native of Brazil, and an international student
at Keyano, Pedro helped the Huskies finish the season at the Alberta Championships.
Alberta Colleges Athletic Conference First All-Star Teams
Lance Wesolowski (men’s basketball), Pedro Bianchi (men’s futsal), Rodrigo Koebsch (men’s futsal),
Vanessa Wildeman (women’s volleyball), Niki Fresen (women’s volleyball), Jamie Hanigan (woman’s futsal),
and Matt Powell (men’s volleyball).
In 2014/15, 105 Student Athlete Enrollment bursaries were granted totalling $324,062.2
2
A full list of annual athletic financial awards can be found on page 4 of the Student Awards booklet at:
http://www.keyano.ca/Portals/0/Documents/FinancialAid/SA%20Booklet.pdf
Information about additional awards can be found at:
http://www.keyano.ca/CurrentStudents/FinancialAid/AwardsScholarships/BrowseAwards
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STAFF AND FACULTY AWARDS AND ACHIEVEMENTS
Keyano’s people are passionate about learning and committed to excellence. In 2014/15, many of our staff and
faculty were recognized for their professional and academic achievements and for their service to our community.
President’s Excellence Award
Individual - Kevin Breen
Kevin is a true ambassador for Keyano and our community. An Instructor on three of our trades courses, Kevin is
known for his dedication to students and to enriching the student experience. A life-long advocate for health and
wellness, he has inspired many at Keyano to take stock and embrace a more positive work-life balance. Kevin is
an active member of the community, coaching and serving as a board member for both hockey and baseball youth
programs. Whatever the role, be it umpire, turf tech, skate sharpener, fundraiser or trip organizer, Kevin brings the
same passion, enthusiasm and commitment to every task he takes on.
Team – Arts Centre Flooding Response Team
Following a flood in the Arts Centre in early January, a cross-departmental response team was formed to
coordinate the clean up. The team worked tirelessly to get the Arts Centre up and running in record time.
Sincere thanks to:
Kelly Blanchette
Brad Parsons
Zoran Knezic
Rock Martin
Iossif Penkov
Dharmendra Patel
James Reid
Brett Magee
Stephen Boyd
Kizzie Sutton
Allison Warwick
Eugene Carnegie
Erin Schwab
Kathleen McGrath
Academic Achievements
Mary Ann Campbell
Human Resources Certificate
Valorie Kenny
Human Resources Certificate
Catherine Koch
Chartered Director, C.Dir Designation
Gail Leeke
Health and Safety Administrator, HAS Designation
Goldie Mann
Office Administration Diploma
Kevin Nagel
Master of Studies (Sustainability Leadership Programme, University of Cambridge)
Institute of Corporate Directors, ICD.D Designation
ICD-Rotman, Directors Education Program
Patricia Reid
Office Administration Diploma
Kelly Tetreault
Business Administration Certificate
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THE YEAR IN REVIEW
Government of Canada Supports Skills Development and Training for
Aboriginal Peoples in Northern Alberta
In June, the Government of Canada, through Western Economic Diversification Canada, announced an investment
of $1.5 million to assist Keyano College in the delivery of a Heavy Equipment Operator (HEO) mobile simulator
training program in Northern Alberta. This project, which is also supported by the Keyano College Foundation and
industry partner Syncrude Canada Ltd., will allow Aboriginal students in rural communities to pursue training and
skills development within their home communities.
Acuren Group Inc. Named as Keyano’s Partner of the Year
The Acuren Group is a major service provider of inspection, testing services and shutdown maintenance in the
Athabasca oil sands region. Over the past seven years, Acuren has increased their involvement in both Keyano
College and the Keyano College Foundation. In 2014, they invested in the development of the ACUtech NonDestructive Testing Program, made a three-year pledge to support the Foundation’s annual events, created three
new student awards, and maintained season sponsorship of the Keyano College Men’s Hockey Program.
Program Launches, Alignment and MOUs
Keyano College’s School of Career & Education Access is now offering a Steam Assisted Gravity Drainage
(SAGD) Processing Certificate on-line. The universally accessible on-line program provides students with an in
depth understanding of one of the oil sands most popular methods of bitumen recovery.
Ongoing program alignment initiatives and local economic conditions resulted in the suspension of some low
enrollment programs in 2015/16 including the Office Administration Diploma, the Fitness Leadership and
Movement Diploma and the Early Learning and Childcare Diploma amongst others. Keyano’s revised program
mix includes the continuation of collaborative degrees in the areas of education and nursing, and will include new
opportunities in business and environmental science. Mobile training options will be made available across the
region for select occupational programs. This comprehensive programming approach is designed to provide
Keyano students with the best opportunities for employment while supporting regional economic development and
a sustainable community.
Keyano College and the University of Alberta signed a Memorandum of Understanding (MOU) to deliver a
Collaborative Degree in Elementary Education. Keyano College students, who successfully complete the first and
second year of Education in the University Studies program, may take the third and fourth year of the University
of Alberta’s Bachelor of Education, Elementary Education Route, and still remain in Fort McMurray.
Gala 2014
Twelve hundred Keyano College Foundation supporters gathered in November for the annual Keyano Gala black
tie fundraiser presented by ATB Financial. The Gala raised more than $430,000 to support Keyano students,
programming, athletics, theatre, and infrastructure improvements. Guests were entertained by one of Canada’s most
successful singer-songwriters, Corey Hart. Over 110 sponsors participated, with many retail and hospitality
businesses donating their services throughout the evening, as well as items for raffles and auctions. In addition,
Corey Hart recorded several publically released music videos highlighting the acoustical attributes of the Keyano
Theatre, ensuring promotion of the venue long after the Gala itself.
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One On One Banquet
On March 12, the Keyano College Foundation hosted the biannual One on One Banquet in support of the Huskies
Athletics. With the theme “The Original Six,” this year’s Banquet featured players who donned an Original Six
jersey in the 1970s: Darryl Sittler (Toronto Maple Leafs), Bobby Hull (Chicago Blackhawks), Yvan Cournoyer
(Montreal Canadians), Marcel Dionne (Detroit Red Wings), Gerry Cheevers (Boston Bruins), and Brad Park (New
York Rangers). The Original Six cast were joined by host Kelly Chase who led guests through the Hot Stove event
and the evening’s live auction. This event raised $43,289 for student athletes and athletic programming.
Girl POWERment
Keyano College’s Be Fit for Life Centre hosted the fourth annual Girl POWERment conference in February.
Geared towards Grade 9 girls, and combining education and fun, the one-day conference focused on empowerment,
self-esteem, health, and the development of leadership skills. Sponsored by Syncrude Canada Ltd., Girl
POWERment is part of a series of events and programming for students in partnership with Keyano College’s Sport
and Student Wellness Department and in association with other agencies, such as Girls Inc. of Northern Alberta.
Sports, Health and Wellness
Keyano hosted the 2014/15 Alberta Colleges Athletic Conference (ACAC) Cross Country Running Championships
in October with presenting sponsor the Regional Municipality of Wood Buffalo through its Big Spirit initiative.
The College was also proud to host the 2014/15 Alberta Colleges Athletic Conference (ACAC) Men’s Basketball
Championship in March with presenting sponsor Fort McMurray’s Aircon Technologies.
Keyano’s first Beach Volleyball court was opened in 2014/15 thanks to the generous support of LaPrairie Crane,
the 2015 Western Canada Summer Games, and the Alberta Government. The Syncrude Sport & Wellness Centre
also expanded its capacity for elite training with the addition of new equipment.
A Successful Theatre Season
The Keyano Theatre presented a successful community-focused 4 Play Drama series, which included the Alberta
premiere of Canadian playwright Norm Foster’s “On a First Name Basis.” Four well-attended community
workshops for teens and adults featuring guest theatre artists were also hosted as part of the series.
In addition, the Theatre’s 150-seat recital theatre played host to the Stage 2 series featuring five touring and
community-based live theatre productions, including productions from the Edmonton Fringe Festival. The Toronto
International Film Festival’s Film Circuit Series of 10 selected screenings was also presented in partnership with
Fort McMurray Tourism.
Lecture Series and Philosopher’s Cafe
The Keyano College Lecture Series offers six lectures a year delivered by faculty to the public, free of charge. This
year, topics as diverse as the science behind climate change, the history of social inequality and Alice in
Wonderland were discussed.
The Philosophers’ Café provides an open arena for guided discussion on issues of interest to the Keyano
community. The Café ran as a pilot in 2014/15, and based on its success will be offered as an annual event.
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Conferences and Fairs
Close to 150 people attended the third annual Arts and Humanities conference in March. With the theme “North of
Understanding,” presenters and attendees were invited to consider the connections between place and intellectual
engagement.
The Keyano College Math Fairs welcomed 750 Grade 6 students from 18 local schools. Held in November and
March, the Fairs were led by math instructor Dr. Matthew Morin and supported by the Science faculty and students
from the B.Ed. Elementary Education program. Using a variety of recreational problems and puzzles, the fairs aim
to broaden elementary students’ view about mathematics and its applications.
Over 2,800 attendees visited nearly 70 exhibitors at Keyano College’s 2015 Career Fair. Exhibitors ranged from
local contractors to training organizations and members of the service sector. Sponsored by Total E&P Canada
Ltd., the free two-day event is Wood Buffalo’s largest multi-employer Career Fair.
Leading the Way
Keyano College Board of Governors member, Nicole Bourque-Bouchier, was honoured as the 2015 recipient of
the Alberta Women Entrepreneurs (AWE) – Celebration of Achievement Award in April. The award pays tribute
to an exceptional female entrepreneur who has achieved recognizable success. Along with being a long-time
supporter of Keyano College, Ms. Bourque-Bouchier is the CEO and co-owner of The Bouchier Group, employing
over 850 people in the Wood Buffalo region. Ms. Bourque-Bouchier is an Alumna of the Aboriginal
Entrepreneurship program at Keyano and the College is proud to call this remarkable woman in business one of its
own.
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OPERATIONAL OVERVIEW
Keyano College is a comprehensive community institution in the Regional Municipality of Wood Buffalo.
Stretching from north-central Alberta to the borders of Saskatchewan and the Northwest Territories, Wood Buffalo
is one of the largest municipalities in Canada. Established as the Alberta Vocational Centre in 1965, the institution
changed its name to Keyano (a Cree word for “sharing”) College 10 years later. In 1978 Keyano completed its
transformation into a community college with the appointment of its first Board of Governors. Over the years,
Keyano’s programs and services have grown with the community, reflecting the changing demands and interests
of the region, its broadening multicultural orientation, and constantly changing technologies. Throughout this time,
Keyano has proactively positioned itself as a community builder meeting both the training and skills acquisition
needs of industry, and the personal enrichment and cultural needs of the Wood Buffalo community.
Keyano provides opportunities for lifelong, relevant and practical learning and is committed to increasing access
to post-secondary programs. Keyano served 3,082 distinct credit students in 2014/15 through campuses in Fort
McMurray, and Fort Chipewyan and through our Learning Centres in Fort McKay, Gregoire Lake, Conklin and
Janvier. The College offers programs that lead to certificates, diplomas, certificates of qualification (trades), and
baccalaureate degrees. The College also supports the development of professional knowledge and skills in several
sectors, including energy, construction, business, health and safety, arts, sciences, education, human services, and
transportation. A wide range of corporate training options are available to client companies.
Keyano’s growth reflects that of Wood Buffalo, and the development of Canada’s largest energy resource, the
Athabasca Oil Sands. Recent economic developments have resulted in a slowdown in the oil and gas industry and
in activity in the region. There have been significant job losses in the oil and gas sector and related industries over
the past six months. In June of 2015, Alberta’s unemployment rate stood at six per cent, and the unemployment
rate in the Wood Buffalo-Cold Lake region had jumped to over seven and a half per cent from just over five per
cent in 2014.3 Oil and gas industry expenditure in the region is expected to decrease by $31 billion by the end of
2015.4
The most immediate and obvious impact of the current downturn is being felt by Keyano’s corporate training and
continuing education department, and those programs delivered in partnership with industry. Despite the inevitable
scale back in activity, Keyano remains committed to the relationships it has developed with business and industry
and will work with partners old and new to support economic recovery and development in the region. Likewise,
the College is proud of its role as a cultural centre and will continue to provide arts, cultural and recreational
experiences. As always, the College works with the Regional Municipality of Wood Buffalo and regional School
Boards to ensure a collaborative approach to programming and the presentation of cultural events.
New adult learning programming, which is being introduced in rural communities, is expected to bring more people
into the College to take part in a variety of activities that contribute to enriched lives. In particular, Keyano is
preparing for expanded community-based programming in Fort Chipewyan.
In light of the economic downturn, a review of program enrollment was undertaken in 2014/15 and some lowenrollment programs were suspended. The College worked closely with the Government of Alberta when
determining changes to the program mix. Beginning in the first semester of 2015/16, the College will work with
the community and other stakeholders to identify and, where possible, develop fiscally sustainable models of
delivery for key programs.
3
4
Statistics Canada, Labour Force Characteristics, http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/lfss01c-eng.htm
Enform, http://www.enform.ca/news/news.cfm?releasePage=051920159162
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MANDATE
Keyano College is a public, board-governed college operating as a Comprehensive Community Institution under
the authority of the Post-Secondary Learning Act of Alberta. Keyano plays an active role in Campus Alberta by
collaborating with other post-secondary institutions to increase access to learning opportunities for students in the
Regional Municipality of Wood Buffalo. Through its two campuses, in Fort McMurray and Fort Chipewyan, and
four learning centres, in Fort McKay, Conklin, Janvier, and Gregoire Lake, Keyano provides a variety of learning
opportunities through classroom, on-line and blended delivery models. Keyano also serves a wider learner
population through its involvement in education consortia and a variety of industry partnerships.
Keyano College offers certificates and diplomas, university transfer, apprenticeship, academic upgrading and,
through collaboration with other post-secondary institutions, degree completion options. Keyano’s comprehensive
program offerings include arts, science, business, education, environmental science, power engineering, performing
and visual arts, health, engineering technologies, human services, humanities, trades, transportation, heavy
equipment operations and industrial training. Keyano provides relevant, practical, flexible and affordable
workforce development including continuing education, customized corporate training, and English as a second
language courses and programs.
As a Comprehensive Community Institution responsible for regional stewardship, Keyano College collaborates
with post-secondary educational institutions, community adult learning providers, business, industry, school
districts, Aboriginal communities, and other organizations to ensure access to a broad spectrum of learning
opportunities. Keyano is committed to increasing access to post-secondary programs, assisting students in
achieving their learning goals, and enhancing career opportunities for its graduates. Specialized services provided
include Aboriginal counselling, counselling, support for students with disabilities, flexible education delivery
alternatives, and co- operative education options in many programs.
Keyano provides high-quality lifelong learning opportunities by promoting access to and participation in postsecondary education, fostering excellence and innovation in teaching and learning. Keyano’s faculty and staff are
engaged in professional development, scholarly activity and applied research for the purpose of enhancing expertise
and increasing knowledge that will facilitate a high-quality learning experience through improved programs and
services.
Keyano College plays a pivotal role in enhancing sustainability within the region by collaborating with stakeholders
to support social, cultural and economic development initiatives. Keyano’s specialized facilities including its Power
and Process Engineering Lab, Theatre, Conservatory, and the Syncrude Sport & Wellness Centre make Keyano
College an integral partner in providing educational, cultural, and career opportunities for students and the residents
of Wood Buffalo.
Approved by the Minister, Innovation and Advanced Education
June 12, 2014
Approved by the
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MISSION STATEMENT
Keyano College is a comprehensive college of choice that is committed to excellence in teaching and learning,
industry training and applied research through the delivery of relevant and sustainable programs and services that
maximize opportunities for our students, staff and stakeholders, and, that enable Keyano to engage in community
leadership.
VISION
Keyano is a quality, responsive and sustainable comprehensive college that consistently meets or exceeds the
expectations of our learner stakeholders and communities.
CORE PROGRAMS
Keyano College offers a comprehensive range of credit and non-credit programming. Courses and programs of
study include arts, humanities, sciences, social sciences, fine arts, health, human services, business, education,
technologies, trades, transportation, heavy equipment operations and industrial skills. Credit programming in these
areas is undertaken by the School of Arts, Science, Business and Education; the School of Health, Wellness and
Human Services; and the School of Trades and Heavy Industrial. In addition, courses to strengthen English
language skills are offered for newcomers to Canada through Citizen and Immigration Canada (CIC) sponsored
Language Instruction for Newcomers to Canada (LINC) program.
Credit programming is supplemented by a wide range of non-credit offerings that reflect the region’s demands and
community interests, including several professional certificate credentials as well as other career and enrichment
opportunities. The aim of the program mix is to satisfy both the training and skills acquisition needs of local
business and industry as well as the intellectual and cultural needs of the community.
Corporate Training provides a complete range of training program development, delivery and administrative
services to client companies. Programming can be delivered on-site and scheduled to accommodate company
needs.5
Aboriginal Education and Regional Stewardship
Aboriginal Education and Regional Stewardship programming is focused on improving access to learning
opportunities through campuses in Fort McMurray and Fort Chipewyan, as well as the Regional Learning Centres
in Fort McKay, Gregoire Lake, Conklin and Janvier. The Community Adult Learning program, funded by
Advanced Education, fosters learner transitions from the community-based, non-formal, non-credit adult learning
system to the post-secondary system, and is focused on the needs of Indigenous learners in particular.
Testing Services
Testing Services provides invigilation of external exams from institutions across Canada, as well as internal Keyano
student exam supervision. Certified Testing Facilitators deliver aptitude assessments (DAT), high school
equivalency (GED), safety (CTS, OSSA, WHMIS), essential skills (TOWES), English language proficiency
(CELPIP), and talent measurement.
For more information on programming, go to: www.keyano.ca/Academics. Information on Keyano’s continuing education
offerings can be found at: www.keyano.ca/Continuing Education and on Keyano’s Corporate Training services at:
www.keyano.ca/Community/CorporateTraining
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REGIONAL FACILITIES
Keyano College has three campuses as well as four learning centres at Janvier, Conklin, Gregoire Lake and Fort
McKay to address regional demand and increase access to education in Wood Buffalo.
Clearwater Campus (Main)
The Clearwater campus is located in downtown Fort McMurray and is home to student services, the library,
financial services, the bookstore, and the majority of academic and trades programs. It is home to the Theatre &
Arts Centre, the Syncrude Sport & Wellness Centre, the Syncrude Technology Centre, and the Oil Sands Power
and Process Engineering Lab.
Suncor Energy Industrial Campus
The Suncor Energy Industrial Campus is located in the industrial heart of Fort McMurray. It is home to Keyano’s
Heavy Haul Operator and Heavy Equipment Technician programs.
Fort Chipewyan Campus
Keyano College has a commitment to Aboriginal education and has been involved with the community of Fort
Chipewyan since 1976. Located in the longest continuously inhabited settlement in the province, the new Fort
Chipewyan campus opened in 2011, and is the most northerly campus in Alberta. The campus is housed in an 800
square metre, seven classroom building equipped with up-to-date educational technology.
Learning Centres
In addition to the campuses, Keyano operated Adult Learning Centres in Fort McKay, Gregoire Lake, Conklin and
Janvier in 2014/15. Each centre was staffed throughout the academic year, and equipped with the classrooms,
computers, interactive technologies, and library materials needed to support distance delivery of programming.
Centres also served as Community Access Points (CAP site) for eCampus Alberta and Regional Stewardship
initiatives.
QUICK FACTS
666 students graduated at the College’s 49th convocation
3,082 credit students
14,491 non-credit registrations
6,361 registrations in corporate training programs
14,954 registrations in continuing education courses
82 international students from 27 countries
Average income after graduation $81,882
83% of graduates employed; 8% of graduates have gone on to further study
124 faculty positions
238 support staff and management positions
$87,423,455 operating budget
149,748 Sports and Wellness Fitness Centre users
2,972 hours of Huskies Athletics Community Volunteerism
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GOVERNANCE AND ADMINISTRATION
BOARD OF GOVERNORS
Keyano College is governed by an 11 member Board of Governors, including the College’s President & CEO. All
public members are appointed by the Minister of Advanced Education. The Board is responsible for setting the
strategic direction of the College, monitoring performance, appointing the Chief Executive Officer (CEO), and
delegating responsibility to the CEO for the day-to-day operation of the organization.
The members of the Board of Governors in 2014/2015 were:
Chair
Kara Flynn, Syncrude Canada Ltd.
President & CEO
Public Members
Andrew Carter - Vice Chair, Shell Albian Sands
Nicole Bourque-Bouchier, The Bouchier Group
Brent Davis, Finning Canada
Bryan Rabik, ATB Financial
Doreen Cole, Suncor Energy Inc.
Vacant
Faculty Representative
Bev Maron
CUPE Representative
Emily Hicks
Student Representative(s)
Staci Porter
Diana Cretu (from April, 2015)
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COMMITTEES AND CHAIRS
The Board of Governors has five committees. Each committee is responsible for meeting regularly and providing
regular reports to the Board of Governors. Membership of all committees is assigned annually.
Finance & Audit Committee
Bryan Rabik, Chair
Campus Development Committee
Andrew Carter, Chair
Education Committee
Nicole Bourque-Bouchier, Chair
Industry Training Committee
Doreen Cole, Chair
Human Resources Committee
Nicole Bourque-Bouchier, Chair
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ABOUT THE BOARD OF GOVERNORS
Chair - Kara Flynn
Vice President, Government and Public Affairs
Syncrude Canada Ltd.
Kara Flynn is the Vice President, Government and Public Affairs at Syncrude Canada Ltd.,
and reports directly to the President and CEO. In her role, she oversees a diverse team of
employees responsible for Aboriginal and stakeholder relations, government relations, internal
and external communications, and community investment. She previously served as Manager,
Public Affairs for over three years. Prior to joining Syncrude, Ms. Flynn had a 20-year career
in management, communications and community relations that spanned the health, cultural facilities, and nonprofit sectors.
She currently serves as a member of the Board of Directors and Secretary for the Canadian Council of Aboriginal
Business. She is the Vice Chair of the Oil Sands Developers Group.
Ms. Flynn has a Bachelor of Arts degree from the University of British Columbia in History and Political Science.
Vice Chair - Andrew Carter
Manager, Tailings Capital Portfolio Shell Albian Sands
Andrew (Andy) Carter is the Manager of Tailings Operations for Shell Albian Sands.
Previously, Mr. Carter was Director of Mine Operations for Suncor Energy Inc. and spent
several years as Manager of Aurora Mobile Mining for Syncrude Canada Ltd. His long tenure
in the oil sands industry stretches back to 1986 and includes roles in engineering, operations,
maintenance and strategic projects.
He is an active member of the Wood Buffalo community and serves on the Board of the Fort
McMurray Historical Society.
Mr. Carter has a Bachelor’s Degree in Applied Science from Queen’s University in Kingston, Ontario.
President & CEO – Dr. Kevin F. Nagel, ICD.D
President & Chief Executive Officer
Keyano College
Dr. Kevin Nagel, ICD.D, is the President & CEO of Keyano College. Previously, he was the
Dean of the JR Shaw School of Business and Faculty of Undergraduate Studies at NAIT. Dr.
Nagel holds an Honours BA in Economics from the University of Regina (SK) and Master and
PhD degrees in Educational Administration from the University of Victoria (BC). He also holds
a Master of Studies degree in Sustainability Leadership and a Post-Graduate Certificate in
Sustainable Business from the University of Cambridge (UK) where his research on sustainable
development focused on the factors influencing collaboration success. In 2012, Dr. Nagel was
recognized by Alberta Venture as one of Alberta’s 50 most influential people. He was presented with the Queen
Elizabeth II Diamond Jubilee Medal, a symbol of service, excellence, and community involvement, in 2013.
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Public Member - Nicole Bourque-Bouchier
Chief Executive Officer & Co-Owner
The Bouchier Group
A long-time resident of Fort McMurray and member of the Mikisew Cree First Nation, Nicole
Bourque-Bouchier is the Chief Executive Officer and Co-Owner of The Bouchier Group.
She currently co-chairs the Pacesetting & Leadership Committee for the Northern Lights
Regional Health Foundation and is a member of the newly formed Alberta First Nation Women’s
Economic Security Council.
Ms. Bourque-Bouchier has been honoured with numerous awards and accolades including an Esquao Award for
Business from the Institute for the Advancement of Aboriginal Women. She has been recognized in the Enbridge
Famous 5 Speaker Series, is a recipient of the 2013 Fort McKay Cultural & Community Enrichment Award and
the 2014 Fort McKay Business of the Year award, and was nominated as a 2013 Girls Inc. Woman of Inspiration.
Most recently, Ms. Bourque-Bouchier was awarded the Rotary Club of Fort McMurray Oilsands Integrity Award
and the Ernst & Young’s Oil and Gas Entrepreneur of the Year award.
Public Member - Brent Davis
Vice President, Oil Sands
Finning Canada
Over a 25-year career with Finning, Brent Davis has held a variety of roles from frontline
customer service and sales positions to senior management posts. In 2009, Mr. Davis was
appointed General Manager of oilsands operations and in February 2013 he became Vice
President of the Oil Sands Region.
Always active in the community, Mr. Davis has volunteered in minor hockey and baseball for many years. He is a
past member of many boards and industry organizations including the Mining Industry Advisory Counsel at the
University of Alberta. Currently, he serves on the board of Vista Ridge.
Mr. Davis holds a degree in economics from the University of Victoria.
Public Member - Bryan Rabik
Senior Director, Corporate Banking
ATB Financial
Bryan Rabik is currently the Senior Director, Corporate Banking for ATB Financial.
Previously, Mr. Rabik was the Chief Executive Officer for ACFN Business Group, now
ACDEN, which is a conglomerate of businesses wholly and partially owned by the Athabasca
Chipewyan First Nation. Mr. Rabik is a Past Chair, Treasurer and Board Member of the
Northern Lights Health Foundation; a Past Board Member of Wood Buffalo Housing and
Development Corporation; a Past Board Member of the Fort McMurray Chamber of Commerce; and currently is a
member of the Business Advisory Council for the Fort McMurray Airport Authority.
With over 20 years of experience in finance throughout Canada and the Caribbean, Mr. Rabik brings a wealth of
financial knowledge, experience and community relations expertise to the Keyano College Board of Governors.
Mr. Rabik chairs the Audit and Finance committee.
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Public Member - Doreen Cole
Senior Vice President, Oil Sands Maintenance & Reliability
Suncor Energy Inc.
Ms. Cole joined Suncor as the Vice President, Operations Integration in February 2014, and in
February of 2015 became the Senior Vice President of Maintenance & Reliability. Prior to
joining Suncor, she was the Senior Vice President, Electricity, and the Vice president of Power
Generation for EPCOR Utilities Inc. Before moving to EPCOR, Ms. Cole worked for 15 years
with Shell Canada’s downstream Oil Products business holding a variety of leadership roles.
Ms. Cole graduated from the University of Toronto with a degree in Chemical Engineering, and also completed
the Shell Group Business Leadership Program at the Wharton School of Business, University of Pennsylvania. She
is an alumnus of the Governor General’s Canadian Leadership Conference. In her former roles she served on the
Board of the Electricity Sector Council of Canada, the Board of the Western Energy Institute, the Canadian
Electricity Association (CEA) Distribution and Transmission Councils, and the Canadian Board of Factory Mutual
Global Insurance Company.
Faculty Representative - Bev Maron
Keyano College
Ms. Maron has lived in Fort McMurray since 1986, and began her career with Keyano College
20 years ago. For the last 15 years, she has served as the Chair of Nursing and Allied Health
Studies, and has watched as the department has continued to grow.
This is Ms. Maron’s second term as the Keyano College Faculty Representative on the Board
of Governors.
Student Representative – Staci Porter
Keyano College
A Business Administration Management student and president of the Students’ Association of Keyano College
(SAKC), Ms. Porter served as the student representative on the Keyano Board until April of 2015.
Diana Cretu (from April, 2015)
Keyano College
An international student enrolled in the Visual Arts and Design Program, Ms. Cretu is the
President of the Students’ Association of Keyano College (SAKC) for the 2015/16 term.
Having attended Keyano for two years, Ms. Cretu hopes to help the SAKC provide meaningful
aid to the student body. With the support of the SAKC team, and with cross-College
collaboration, she strives to be a strong voice for students and is committed to ensuring a
positive and rewarding student experience at Keyano.
CUPE Representative - Emily Hicks
Keyano College
Ms. Hicks moved from Ontario in 2008 after completing her BSc (Hons) at the University of
Guelph and has been working at Keyano College as the Laboratory Aide for the School of
Arts, Science, Business and Education since then. She is an active volunteer for Big Brothers
Big Sisters.
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EXECUTIVE MANAGEMENT
Dr. Kevin F. Nagel - President & Chief Executive Officer
Dr. Kevin Nagel, ICD.D, is the President & CEO of Keyano College. Previously, he was the
Dean of the JR Shaw School of Business and Faculty of Undergraduate Studies at NAIT. Dr.
Nagel holds an Honours BA in Economics from the University of Regina (SK) and Master and
PhD degrees in Educational Administration from the University of Victoria (BC). He also holds
a Master of Studies degree in Sustainability Leadership and a Post-Graduate Certificate in
Sustainable Business from the University of Cambridge (UK) where his research on sustainable
development focused on the factors influencing collaboration success. In 2012, Dr. Nagel was
recognized by Alberta Venture as one of Alberta’s 50 most influential people. He was presented with the Queen
Elizabeth II Diamond Jubilee Medal, a symbol of service, excellence, and community involvement, in 2013.
Vice President, Finance and Administration and CFO (Vacant)
Catherine Koch - Vice President, Academic
Catherine Koch has more than 20 years of leadership experience in post-secondary institutions.
Most recently, she was Dean of SAIT’s School of Business, Associate Vice President at
Conestoga College and Head of Instruction at Al Ain Women’s College in the United Arab
Emirates. Ms. Koch has experience with a wide range of academic disciplines as well as with
multiple levels of academic credentialing including certificates, diplomas, higher diplomas and
degrees. In addition to her significant academic qualifications, Ms. Koch is also a Chartered
Professional Accountant and Chartered Director.
Therese Greenwood - Vice President, Advancement & External Relations
Therese Greenwood brings more than 25 years of experience in communications, marketing and
foundation support roles having worked at Queens University’s Office of Advancement, the
City of Kingston, and the Regional Municipality of Wood Buffalo in executive communications
positions. She holds a Master’s Degree in Journalism from the University of Western Ontario,
as well as a Bachelor’s degree from Queen’s University. She has also worked as a reporter,
editor, broadcaster, and journalism teacher.
Henry Hunter - Vice President, Capital Projects & Facilities Operation
A professional engineer, Henry Hunter brings over 25 years of experience in project
management and facilities operations to Keyano College. He has worked throughout North
America, Europe and the Middle East in a variety of sectors, including oil and gas, power
generation, water and wastewater, and municipal government. His most recent experience
includes senior roles with the Regional Municipality of Wood Buffalo, the City of Winnipeg,
Earth Tech Canada Inc., and Qatar Petroleum. He holds a Masters of Laws in International
Commercial Law from Robert Gordon University in Aberdeen, Scotland, and a Bachelor of
Science in Mechanical Engineering from Paisley University, Scotland.
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SUBSIDIARY AND DEDICATED
ORGANIZATIONS
KEYANO COLLEGE FOUNDATION
The Keyano College Foundation secures funds to support College activities in a variety of ways, including
scholarships, bursaries, awards and endowments, events, program support, grants, and capital campaigns. The
Foundation hosts a number of fundraising events, including the annual Gala and One On One Banquet previously
referenced in the Year in Review section, all of which are well supported by our community. In 2014/15, the
Foundation raised $5.9 million for the College.
Annual Giving
Regional industry continues to generously contribute to fundraising efforts through sponsorship and donations. 14
companies donated to our Annual Giving program, which raised $3,157,141 in 2014/15 in support of Keyano’s
programs and projects.
Student Awards
The Student Awards program provides financial support to students entering or continuing a program at Keyano
College. Awards are granted to students based on their academic achievement, financial need, leadership initiatives
and/or community involvement. 275 awards with a value of $273,000 were granted to 239 students. Of these, 34
were Aboriginal students and eight were international students.
Equipped for the Future
Equipped for the Future is a donor-based program initiated in the fall of 2009. The program encourages local
companies to donate tools, equipment and other training related materials to the College. In 2014/15 the Keyano
College Foundation secured equipment valued at over $2.2 million through this program.
Huskies Athletics
In addition to the funds raised through the One on One Banquet, over the past year, the Keyano College Foundation
helped raise $732,727 in sponsorship and support for the College’s athletics programs. The Huskies Endowment
Fund reached $501,132 and has generated interest of $108,550 to be used for student athlete awards.
Sponsors of Huskies Athletics teams included: CLAC (Men’s Volleyball); Aircon Technologies (Men’s and
Women’s Basketball); Regional Municipality of Wood Buffalo, Finning, Hedco, CEDA International Corporation,
Stirling Group, and the Merit Hotel (Men’s Hockey); and Adidas, Home Hardware, MNP LLP, Syncrude Canada
Ltd., Rogers Broadcasting, and Conoco Phillips (Athletics).
Keyano Theatre and Arts Centre
Keyano Theatre and Arts Centre has been the cornerstone of arts and culture in the Wood Buffalo region for more
than 35 years. During the 2014/15 season, the Keyano College Foundation helped raise $300,000 to support the
Keyano Theatre and Arts Centre in its commitment to fostering a vibrant arts and cultural community, including
the 2014/15 Theatre Angels Campaign which raised $27,957.
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Major Gift Giving at Keyano College
The Keyano College Foundation raises funds for a variety of programs and student support initiatives. During the
2014/15 year, $770,000 was raised for program support in areas such as Aboriginal Entrepreneurship, Science
Outreach, Power Lab Capital, Passport to Success and classroom simulation.
In 2014/15, the College received $435,000 from Syncrude Canada Ltd. in support of the Heavy Equipment Operator
Simulator program as previously described in the Year in Review section.
The College also received a $642,963 gift-in-kind from the Acuren Group for the creation of the new ACUtech
laboratory to support the Non-Destructive Testing program.
KEYANO COLLEGE LAND TRUST CORPORATION
In February 2012, working with the Province of Alberta, Keyano College created a concept to establish a land trust,
with the goal to transfer over 600 acres of Keyano owned land on Saline Creek Plateau to the trust for development
of a residential community. This goal was realized with the establishment of Keyano College Land Trust
Corporation (KCLTC) in April 2013, and subsequent transfer of land from Keyano College to KCLTC in July
2013. The land will be developed in phases for residential and commercial usage.
As of July 2015, the initial Land Trust development, Stage 5A Phase 1, has 47 housing lots ready and open for
sales inquiries. These lots border the Rotary golf community development called “Henning Ridge.” The KCLTC
subdivision is called the “Highlands at Henning Ridge.” As well, Stage 5A Phase 2, which includes 79 housing lots
and an apartment building site, has been engineered and graded. Due to recent economic circumstances, the primary
focus of the Land Trust at this time will be on dry lease management and growth.
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COLLABORATION AND RELATIONSHIPS
Keyano College believes in the power of collaborative relationships and works with government, community, postsecondary and industry partners to realise education, economic, cultural, and social benefits for Wood Buffalo.
Federal Government and Syncrude Canada Ltd.
Heavy Equipment Operator Program – Rural Communities and Regional Stewardship
Keyano partnered with the federal government and Syncrude Canada Ltd. to deliver its Heavy Equipment Operator
Program in September of 2015 via mobile laboratory.
Provincial Government, Regional Municipality of Wood Buffalo and Alberta
Sport Connection
Western Canada Summer Games
Keyano College was proud to be a community partner and venue provider for the Regional Municipality of Wood
Buffalo’s 2015 Western Canada Summer Games. The College was officially recognized for providing $250,000 of
in-kind support to this important regional recreational and economic event, hosting the main volunteer centre and
the first aid area as well as two of the feature games – beach volleyball and basketball.
Regional Municipality of Wood Buffalo (RMWB)
Keyano Theatre and Arts Centre
The Keyano Theatre and the Keyano College Foundation worked closely with the Regional Municipality of Wood
Buffalo Council throughout 2014/15 on a proposed expansion of the existing theatre. In the first two weeks of the
2015/16 Academic Year, the Regional Council generously approved a $10 million grant to bring the Keyano
Theatre project to tender-ready status, initiate the next phase of public engagement and act as a catalyst for
fundraising from other sources.
The proposed expansion will nearly double the size of the existing theatre, and provide an opportunity for increased
use by local cultural, arts, youth, seniors, and multicultural groups, as well as a site for larger travelling cultural
programming which cannot find an existing venue in the community. Included in the planned expansion are a
professional art gallery and multi-function exhibit space, as well as a multi-use studio space and a revitalized lobby
area suitable for a variety of all-season activities.
Wood Buffalo Regional Science Fair
The Wood Buffalo Regional Science Fair is hosted annually in partnership with the Catholic and Public School
Districts and local industry. The fair showcases science projects from students in Grades 4 to 12 across the region.
Up to four winners go on to compete at the Canada-wide Science Fair. Keyano has sponsored and hosted the fair
since it was re-established in 2007, and Keyano faculty are involved in mentoring and judging submissions.
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YMCA
Childcare Services
The YMCA Riedel Child Care Development Centre has been relocated to the Syncrude Sport & Wellness Centre
where a brand new 4,018 square foot childcare facility was developed to serve the community. There is a total
capacity of 66 (an increase of 28 spaces) for children from 12 months of age to six years. This was the first year of
a 15-year partnership with the YMCA to provide the highest quality daycare facilities to local families. Capital
improvements of $456,414 were made by the College on the basis of a long-term lease arrangement.
Wood Buffalo Primary Care Network
The Wood Buffalo Primary Care Network (WBPCN) is a non-profit healthcare organization led by family
physicians in Fort McMurray. WBPCN provides team-based care that covers all aspects of wellness. The WBPCN
is located within Keyano’s Syncrude Sport & Wellness Center, and in 2014/15 provided care to over 30,000
patients.
The WBPCN maintains a productive working relationship with Keyano’s health services staff; collaborating
regularly to host events, disseminate information, and discuss effective patient care. The WBPCN also supports
Keyano nursing students through its involvement in preceptorship.
Northern Alberta Institute of Technology (NAIT)
Bachelor of Business Administration
Approvals have been secured and delivery of year three of the Bachelor of Business Administration degree will
commence in September of 2015.
Mount Royal University (MRU)
Bachelor of Environmental Science
The College has continued work on concluding an MOU to deliver a collaborative Bachelor of Science in
Environmental Science degree to begin in September of 2016. A pilot course has been proposed for January of
2016.
Fort McMurray School Districts
Community Outreach
The Keyano Huskies, comprised of local, national, and international students, volunteer locally and also host skill
development clinics in the rural and northern regions of Janvier, Conklin, Fort Chipewyan, and in every elementary
school within Wood Buffalo. In support of community outreach, the College received a $50,000 donation from
Conoco Phillips towards the Student Athlete Community Leadership Program, which includes a course in cultural
training.
Sport Academies
The coaching staff and senior student athletes of the Keyano Huskies provided technical and facility support to
both local school districts through basketball, volleyball, hockey and soccer academies.
Welding Instructor
The College continues to support welding programming for both Fort McMurray School Districts through a
partnership to provide a welding instructor.
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GOALS, PRIORITY INITIATIVES, EXPECTED
OUTCOMES AND PERFORMANCE
MEASURES
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GOAL 1
ENHANCE THE STUDENT EXPERIENCE
Keyano provides a learning environment where students can excel academically, and thrive and grow as
individuals. The College offers experiences, both in and out of the classroom, that meet students’ varied needs and
interests, and allow them to achieve their academic and personal goals. At Keyano, students are exposed to a variety
of co-curricular and social opportunities that encourage leadership and community involvement, blended with an
overall environment that supports excellence in learning. Students leave Keyano with a positive attitude in respect
to lifelong learning.
Expected outcomes by 2017 for this goal:
Outcome
A Campus Development Master Plan that
guides Keyano’s infrastructure
development
Accessible facilities, amenities, services
and technology that meet the needs of
students and a growing Wood Buffalo
community
A student-focused learning environment
and a common understanding across the
College of what constitutes a great student
experience
An institution-wide annual performance
planning and review process that is well
understood and focused on providing
employees with the direction and support
they need to excel, while aligning
individual performance with broader
College goals and objectives
Work-related learning and development
opportunities that address employees’
professional and career goals
A well-communicated and promoted
program of extracurricular and cocurricular activities
Regularly scheduled touch points with
students throughout the academic year.
Student perspectives are incorporated into
planning processes as appropriate
Progress in 2014/15
Plan completed and submitted to the Government of Alberta.
The College is working towards upgrading technology for the
building management systems, improving connectivity between
buildings at the Clearwater Campus, and renovating facilities to
create a more welcoming environment. Selected classrooms
have been updated over the past year, and teaching and learning
technology has been upgraded in a number of spaces.
All Chairs and Faculty developed goals, as part of the
established performance planning process that included ways to
enhance the student experience.
Common goal planning template rolled out across the
organization ensuring alignment with CIP goals and strategic
priorities.
Four Managers’ Forum events hosted to promote organizational
communication and alignment.
Competency-based development model and competency
dictionary, with quarterly development sessions, introduced as a
pilot in the External Affairs and Advancement Division.
Employee training and development model implemented with
Human Resources hosting 17 training events.
Extensive communication with students occurs through Huskies
Athletics #prideinthepack. Extra and co-curricular options of
ball hockey, hockey, volleyball, futsal and basketball are offered
throughout the academic year. The “Be Fit Keyano” program
promotes general fitness activities.
The Arts and Humanities Conference and Philosophers Café
provided informal learning opportunities for students.
Huskies Mentorship Program introduced to support student
athletes’ academic progression.
Student Association President contributed to the review and
updating of the CIP.
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PRIORITY INITIATIVES UNDER THIS GOAL:
1.1
Define and adopt a college-wide focus on the student experience
1.2
Create within our means welcoming facilities and services that meet
student needs and support learning
PERFORMANCE MEASURE
Key Performance Indicator (KPI)
Baseline Data
STUDENT AND GRADUATE SATISFACTION
87%
Recommend institution to others
(2009/10)
Percentage of graduates who would
recommend the institution to others
Current Data
Source
89%
(2011/12)
IAE Graduate Outcome
Survey
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PRIORITY INITIATIVE 1.1
Activity
Status
Engage in dialogue
with students about
improving the student
experience at Keyano
 Define a ‘great
student experience’
 Hold regular student
check-ins
Delayed
Expected
completion date
June 30, 2015
Progress in 2014/15
Due to a vacancy in the role of Director,
Student Services through most of the year,
defining and communicating Keyano’s
great student experience was put on hold.
Work will resume on this initiative in
2015/16 with an anticipated completion
date of April 2017.
Regular check-ins with the Student
Association Executive established.
Students in certificate and diploma
programs offered the opportunity to serve
on advisory councils.
Huskies Mentorship Program introduced to
support student athletes’ academic
progression.
To support student success, an early
warning system was implemented in
2014/15 whereby students at risk of failure
are identified at mid-term and supports are
put in place to mitigate.
Improve accountability
through performance
and goal planning
Completed
June 30, 2015
The Keyano College Foundation granted
273 student awards totaling $268,000 in
2014/15.
Processes in place for setting, monitoring
and providing feedback on performance
goals and plans. As part of the established
performance planning process, all Chairs
and Faculty developed goals that included
ways to enhance the student experience,
and were aligned with the CIP and
Academic Plan.
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PRIORITY INITIATIVE 1.1 (Continued)
Activity
Status
Expected
completion date
June 30, 2016
Develop a training and
development plan that
emphasises a student
experience approach to
service provision
In progress
Establish an
organizational
development team to
facilitate
implementation of inhouse training and
development
Offer health and
wellness, cultural,
social, recreation and
community service
opportunities that are
focused on learning,
personal development
and leadership
Completed
June 30, 2017
In progress
June 30, 2017
Progress in 2014/15
Plan developed in 2014/15 and
implementation is underway.
Professional development funds allocated,
providing all employees access to selfdirected learning and development
opportunities to enhance career and
professional growth.
Employee training and development model
implemented with Human Resources
hosting 17 training events.
The Keyano College Foundation offered
volunteer opportunities to students,
including 120 student volunteers for the
Foundation Gala in 2014.
Keyano athletes contributed 2,972 hours to
the community in the form of coaching,
speaking engagements, instruction, and
support for various physical literacy causes
through the Conoco-Phillips Student
Athlete Leadership Program.
Mentor meetings for student athletes to
support academic success coordinated.
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Create within our means welcoming facilities and services that meet student
needs and support learning
Activity
Status
Develop a Campus
Development Master Plan
that is focused on
responsible implementation
in support of the Keyano
Academic Plan
Ongoing implementation
and refinement of the
Campus Development
Master Plan
Provide on-campus, quality
affordable student housing
that is conducive to learning
Offer on-campus, quality
athletic and recreation
facilities as a means of
facilitating opportunities for
social activities and
community involvement
Enhance food services to
meet student needs and
expectations
Improve student satisfaction
through an integrated
student services structure
Progress in 2014/15
Completed
Expected
completion date
June 30, 2015
In progress
June 30, 2017
Schedule
revised
Operational in
2017/18
Schedule
revised
2020
Over 50 capital projects completed
including upgrading student lounge
areas and the construction of a
childcare facility.
Funding for the new residence has not
yet been sourced, resulting in delays to
the proposed schedule. Alternative
financing models are being explored.
Anticipated operational date revised to
2018/19.
Heart of the Campus project will be
delivered in phases as funding becomes
available with a revised end date of
June 2030.
In progress
May 2016
Delayed
May 2016
Plan is completed and has been
submitted to the Government of
Alberta.
Food services expanded to include a
Tim Horton’s franchise.
Annual survey conducted. Overall
satisfaction in the fair to good category
with specific improvement areas
identified, including a desire for
healthier food choices.
Due to a vacancy in the role of
Director, Student Services through
most of the year, review of the Student
Services department was put on hold.
Work will resume on this initiative in
2015/16 with an anticipated completion
date of April 2017.
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Activity
Status
Develop a learning
environment
(infrastructure) that meets
student technology usage
expectations, is stable,
expandable, technology rich
and easy to use and will
support College education
initiatives
In progress
Expected
completion date
June 30, 2017
Progress in 2014/15
Server infrastructure replaced.
New wireless network rolled out.
Infrastructure in place to support the
“bring your own device” (BYOD)
initiative.
Customization of Enterprise Resource
Planning (ERP) systems completed.
Five classrooms upgraded, bringing the
total number of upgraded classrooms to
13.
Telephony infrastructure upgraded.
Provide a technology
infrastructure that will
enhance the educational
learning environment and
student life by facilitating
ease of access to personal
information, academic
systems and consolidated
student related services
In progress
June 30, 2017
Continued ever-greening of aging and
obsolete technology.
Functionality of on-line systems
enhanced, resulting in improvements to
the on-line registration process and
enhanced access to transcripts and tax
forms.
Helpdesk processes reviewed and
efficiencies implemented including
self-service password reset.
Self-service access to personal human
resource information provided for
employees.
Human Resources applicant tracking
system implemented.
Campus security enhanced by
expanding use of card readers for
building/room access and replacing/
adding to the security camera system.
32
Activity
Status
Assess and plan for growth
in health and wellness and
social services to support
the student experience as
enrollment grows
In progress
Expected
completion date
Ongoing
Progress in 2014/15
Health Services partnered with four
health service agencies to provide
health and wellness opportunities to
students. In addition, Health Services
delivered 12 health awareness
campaigns in 2014/15.
Daycare opened in partnership with the
YMCA at the Syncrude Sports and
Wellness Centre.
Continuation of collaboration with the
Wood Buffalo Primary Care Network
on programing specific to chronic
disease management. Women’s Health
issues were highlighted during
2014/15.
33
GOAL 2
PURSUE ACADEMIC EXCELLENCE
Learning at Keyano is of high quality and our graduates are highly sought after. Strong partnerships result in
integrative programs that meet business, industry and community needs. Collaboration within the Campus Alberta
network ensures Keyano delivers best in class programming for the Wood Buffalo region.
Outcome
A suite of high-quality academic
programs and supporting services that
meet the needs of Wood Buffalo - its
people, communities and businesses.
Skilled graduates that meet regional
and labour market requirements
Quality assurance, curriculum
development and maintenance, and
resource allocation processes that are
aligned around and support teaching
and learning excellence
A strategic enrollment plan that guides
Keyano’s college-wide efforts to
support students in a changing
academic, industry and community
landscape
A clear direction for applied research
at Keyano
Market and industry responsive
program provision
Progress in 2014/15
Conducted research on possible new programs in allied health.
Entered agreements for the delivery of collaborative degrees in
business and education.
Six hundred and sixty six students graduated in 2014/15.
The IAE Graduate Outcome Survey indicates that in 2011/12, 57
per cent of students had gained employment in a field closely
related to their program of study. Keyano’s 2014/15 End of Year
Survey suggests that, of the students who have jobs lined up after
graduation, 58.8 per cent were very related to their program of
study.
Developed new program quality assurance process.
Continued to implement strategic enrollment practices.
Deferred to 2015/16.
Continued dialogue with industry and community organizations to
identify which programs (credit and non-credit) will meet needs.
2.1
Plan for growth
2.2
Promote excellence in teaching and learning
34
PERFORMANCE MEASURES
STUDENT AND GRADUATE SATISFACTION
Students
Quality of educational experience
Baseline Data
Current Data
2012/13 (unless
otherwise noted)
2014/15 (unless
otherwise noted
88% satisfied
93% satisfied
Source
Keyano
College Year
End Survey
IAE Graduate
Outcome
Survey
Keyano
College Year
End Survey
IAE Graduate
Outcome
Survey
Keyano
College Year
End Survey
Percentage satisfied with the
educational experience
Graduates
83% satisfied
(2009/10)
87% satisfied
(2011/12)
Recommend program to others
Students
92%
93%
Percentage who would recommend
the program to others
Graduates
88%
(2009/10)
84%
(2011/12)
Satisfaction with program
Students
83% satisfied
97% satisfied
Students
84% satisfied*
90% satisfied
Percentage satisfied with the quality
of teaching
Graduates
80% satisfied
(2009/10)
80% satisfied
(2011/12)
Satisfaction with the financial cost
of the program
Graduates
89% satisfied
(2009/10)
88% satisfied
(2011/12)
2,492 qualified
applicants*
(2012/13)
2,394 qualified
applicants
Power
Campus
Application
Funnel Report
Application to registration rates
68%*
67%
FLEs (credit programming only)
1,339.278 FLEs
1,317.473 FLEs
Power
Campus
Application
Funnel Report
DCaRs
Learner and
Enrolment
Demographic
Summary estimated6
Percentage satisfied with the quality
of the program curriculum and
content
Satisfaction with the quality of
teaching
Percentage satisfied with cost
PARTICIPATION
Application rates
Qualified applications in credit
programs, excluding apprenticeship
Keyano
College Year
End Survey
IAE Graduate
Outcome
Survey
IAE Graduate
Outcome
Survey
* Data corrected from previous submission
6 DCaRS data for 2014/15 not final at time of reporting
35
Baseline Data
Current Data
2012/13 (unless
otherwise noted)
2014/15 (unless
otherwise noted
1,753
241
983
1,645
249
993
Registrations (non-credit
programming)
15,574
14,491
Number of Visa students
47
82
DCaRs
Learner and
Enrolment
Demographic
Summary estimated
76%
(2008/09)
56%
(2008/09)
24%
65%
(2011/12)
49%
(2011/12)
48%
KPIRS Time
to Completion
Reports
Very related:
61%*
Somewhat
related:
25%
81%
(2009/10)
Very related:
59%
Somewhat
related:
29%
84%
(2011/12)
Keyano
College Year
End Survey
Very related:
64%
(2009/10)
Somewhat
related:
26%
(2009/10)
Very related:
57%
(2011/12)
Somewhat
related:
27%
(2011/12)
IAE Graduate
Outcome
Survey
PARTICIPATION (Continued)
Unique headcount (credit
programming only)7
Certificate
Diploma
No
Credential
GRADUATION RATES AND SUCCESS
Certificate
Completion rates
Percentage of students completing
the program within 4 years
Employment
Diploma
Students
Percentage of students who have jobs
lined up for after graduation
Employment
Students
Percentage of students who have jobs
lined up for after graduation that are
related to their program of study
Employment
Graduates
Percentage of graduates who have
jobs lined up for after graduation
Employment
Graduates
Percentage who have work related to
the program
Source
DCaRs
Learner and
Enrolment
Demographic
Summary estimated8
Power
Campus Vista
View “OR
HeadCount”
Keyano
College Year
End Survey
IAE Graduate
Outcome
Survey
7
Excludes collaborative degree students, students with an extension and students in the IPSE program
DCaRS data for 2014/15 not final at time of reporting
* Data corrected from previous submission
8
36
Plan for growth
Activity
Status
Expected completion
date
Progress in 2014/15
Launch programs in
2014/15
Visual Art and Design
Certificate
Delayed
Pre-employment
Electrical dual credit
Delayed
Expansion of Welding
recertification
On hold
Visual Art and Design certificate approved by
Ministry for launch in September 2015.
Continued collaboration with two local school
districts. The plan has been amended to offer the
First Period of Electrical Apprenticeship for
dual credit. Anticipated delivery in 2015/16
academic year.
September 2015
SAGD on-line
Completed
Power Engineering
steam time
Delayed
Expansion of testing
services for preemployment screening
On hold
Expansion of welding recertification is on hold
due to contraction in local industry demand.
SAGD on-line launched in September 2014.
Due to issues with the laboratory, Power
Engineering steam time could not be offered in
2014/15. Work continued on development of
competencies (curriculum), which have been
submitted to ABSA. Anticipated delivery in
2016.
Expansion of testing services for preemployment screening is on hold due to
contraction in local industry demand.
Launch programs in
2015/16
Bachelor of Business
Administration (years 3
and 4)
Completed
Bachelor of
Environmental Sciences
(years 3 and 4)
Delayed
Signed agreement with NAIT for delivery
commencing September 2015.
September 2016
Funding for program confirmed late in the year.
Installation of the high technology classroom
required for delivery is underway with plans for
pilot delivery of one course in January 2016.
37
Plan for growth
Activity
Status
Expected
completion date
Progress in 2014/15
Research market needs,
conduct feasibility
assessments and
develop proposals for
new programs:
Business Processes
(SAP)
Completed
Delayed
Instrument Technician
Apprentice
Research conducted for Business Processes
(SAP) indicates insufficient demand in the
region to support additional work at this
time.
Research underway on market demand for
Instrument Technician Apprentice. Results
expected by September 2015.
Deferred
Initial research conducted for Parts
Technician/Materials Apprentice indicates
insufficient demand in the region to support
June 30, 2015
additional work at this time.
Delayed
Preliminary research on Engineering
Engineering
Technologies completed but further
Technologies
assessment delayed due to the need to divert
resources to work on collaborative degree
initiatives. This initiative will be revisited in
2015/16.
Non-destructive Testing
Delayed
Due to staff shortages work was not
(NDT) Technician
undertaken in 2014/15 on Non-destructive
Testing (NDT) Technician. This initiative
will be revisited in 2015/16.
Allied Health
In progress
Research on allied health programming
indicated potential demand for occupational
therapy assistant, physiotherapy assistant
and speech language assistant programming.
These options will proceed to the next stage
of assessment.
The College is investigating a potential partnership to deliver a Bachelor of Social Work with the University of
Regina.
Delayed
June 30, 2015
Research on potential new programs
Prioritize current and
completed as outlined above. Changes in the
new program growth
economic environment have delayed new
possibilities, identify
initiatives beyond those already identified.
research requirements
Enrollment targets will continue to be set.
and set enrollment
targets
Parts Technician
/Materials Apprentice
38
Plan for growth
Activity
Status
Progress in 2014/15
On hold
Expected
completion date
By October 2015
Investigate capacity for
international students
through collaborative
initiatives with other
institutions
Explore opportunities
for collaborative
programming with the
secondary school
system, including dual
credit programs
In progress
Ongoing
Due to staff shortages, submission of
program documentation for preemployment welding was delayed.
Dialogue continues with Northlands
School District on delivery of the
program and it is hoped that the program
will go ahead at one site in Fort
McMurray at a later date.
On hold due to lack of resources to
conduct a capacity review and the need
to align with plans for the proposed new
student residence.
Keyano continued to collaborate with
local school districts and will offer First
Period of the Electrical Apprenticeship
for dual credit. Delivery will commence
in the 2015/16 academic year.
39
Promote excellence in teaching and learning
Activity
Status
Provide support and
resources to facilitate
learning
In progress
Expected
completion date
Ongoing
Progress in 2014/15
Learning management system (Moodle
platform) in place and updated in
2014/15. Students can readily access
materials for courses.
Consolidated testing services into one
physical space and introduced new
software for booking tests.
Enhance quality
assurance policies and
processes
In progress
2017
Enrich curriculum
In progress
2017
Develop a vision for
applied research at
Keyano
In progress
November 2016
Plan for provision of
power and process
engineering training
that would significantly
enhance Keyano’s
ability to respond to
market and industry
demand
Delayed
September 2015
Note: A number of the initiatives
outlined in Priority Initiative 1.2 learning environment and technology
infrastructure – support execution of this
initiative.
Criteria and procedures have been
developed for a new Program Quality
Assurance (PQA) process and a pilot will
be undertaken in the fall of 2015.
Due to staff shortages, a revised schedule
has been developed to adjust for the late
start in this project.
Curriculum repository concept
development is underway. Due to
funding shortfalls it is anticipated that
the repository will initially include only
course outlines.
Work on developing a roadmap was
delayed due to staff shortages. The
college has identified that it needs to
align with Campus Alberta Quality
Council (CAQC) “scholarly activities”
criteria.
Initiative behind schedule due to staff
shortages and issues with the new
facility. Completion is expected by mid2016.
40
GOAL 3
ADVANCE INSTITUTIONAL SUSTAINABILITY
Keyano is a community hub and a key contributor to the economic and cultural development of the Wood Buffalo
region. As a sustainable organization, the College considers its broader environment when planning for the future,
implements responsibly, and communicates progress on plans. Keyano values its relationships with staff, students,
partners, and the community and delivers on its promises.
Outcome
Progress in 2014/15
Continued responsible and ethical Keyano College Foundation bylaw revision completed including review
Board governance
of applicable CRA guidelines.
Formal fund development and solicitor training for Keyano College
Foundation Board members implemented.
Human resource capacity to
deliver and support high-quality
programs and services
Increased collaboration across the
Campus Alberta network,
enhanced system access and
greater learning opportunities
across the region
Increased collaboration with
industry to facilitate the
development and delivery of
courses and programs that result
in job-ready graduates
Increased collaboration with
regional partners to support the
social and cultural prosperity of
Wood Buffalo
An environmentally responsible
organization
Keyano Foundation Board structure reviewed to facilitate active
participation by all board members as ambassadors, solicitors, planners
and/or advisors in the fundraising program.
Competency-based development model and competency dictionary, with
quarterly development sessions, introduced as a pilot in the External
Affairs and Advancement Division.
Relationships developed and maintained with numerous Alberta postsecondary institutions including: NAIT, University of Alberta, Mount
Royal University, Northern Lakes College, and ACAD. Continued
consultation with the Ministry of Advanced Education, and local School
Districts.
Northern Memorandum of Action operationalized.
Collaboration with the Oil Sands Safety Association (OSSA) led to
Keyano being named the training coordinator for Basic Safety
Orientation.
Collaboration with the Acuren Group resulted in the development of the
ACUtech training program and the opening of a Non-Destructive Testing
(NDT) laboratory.
Relationships with community partners developed and enhanced with
mutually beneficial outcomes including:
 Shared maintenance opportunities at the Fort Chipewyan campus
 Support for the proposed expansion of the Keyano Theatre
 Ongoing discussion regarding use of space at the Anzac recreation
facility and the proposed Conklin multi-use centre
Investment in virtualized servers has reduced power needs.
Discussions with the Regional Municipality of Wood Buffalo on ways to
increase staff and student use of public transport. Agreement to sell bus
passes at campus bookstore and increase internal marketing of public
transport opportunities. Keyano also hosted a public forum on transit
options for the College and surrounding community.
41
3.1
Effective Board governance
3.2
Engage employees in creating a culture of distinction
3.3
Maximize assets and generate value
3.4
Establish an integrated process and cycle for planning, budgeting and
reporting
3.5
Integrate, develop and implement a College-wide, comprehensive health
and safety program, including management systems and training programs
3.6
Develop a sustainability program to reduce Keyano’s environmental
impact, which would include recycling and operations related efficiency
initiatives
3.7
Review Keyano’s positioning and brand strategy
3.8
Leverage partnerships and implement collaborative initiatives
3.9
Consult with the Aboriginal community
3.10 Explore opportunities to expand programs and services in Fort
Chipewyan, Fort McKay, Gregoire Lake, Janvier and Conklin
PERFORMANCE MEASURES
Currently under development are baselines for student retention and staff retention, and KPIs
for sustainability.
42
Effective Board governance
Activity
Status
Continue to recruit
high caliber Board
members with required
skill sets
Provide access to
professional
governance training for
all Board members
Ongoing
Expected
completion date
June 30, 2017
Ongoing
June 30, 2017
Progress in 2014/15
The College has recruited a high caliber
Board, with the required skill sets to
ensure a balanced and effective team.
The College will continue to recruit
members as necessary.
Information on and access to professional
development and training opportunities is
provided to all Board members on an
ongoing basis.
Members of the Executive team
completed ICD.D and C.Dir.
designations.
A revision of the Keyano College
Foundation bylaws, including review of
applicable CRA guidelines, was
completed. In addition formal, fund
development training was provided for
Foundation Board members. The
Foundation Board structure was
reviewed to facilitate active participation
by all board members in the fundraising
program.
The Government of Alberta recommended that all post-secondary institutions implement systems to:
1) Understand what legislation they must comply with;
2) Develop appropriate policies, procedures and controls to ensure compliance with legislation; and
3) Monitor and report non-compliance to senior management and board audit committees
In response, Keyano College instituted a Legislative Compliance Committee in 2014/15, with the aim of
minimizing the College’s exposure to such risks. As of June 30, 2015, the College has designed a program
structure, established a baseline for compliance and 44 employees have completed advanced FOIP training.
43
Engage employees in creating a culture of distinction
Activity
Status
Define a culture of
distinction for Keyano
and design a roadmap
to achieve it
Implement recruitment
strategies to become
competitive in key
talent areas
In progress
Expected
completion date
December 2015
In progress
June 30, 2017
Progress in 2014/15
Through consultation with staff and
faculty, developed a shared
understanding and definition of what a
culture of distinction means for Keyano.
Keyano College Recruitment Standards
and Guidelines established.
Employee recruitment process review
completed and efficiency improvements
introduced.
More targeted advertising approaches
implemented for employee recruitment.
Increase employee
retention
In progress
June 30, 2017
Continue to improve
the efficiency and
effectiveness of peoplerelated processes
In progress
June 30, 2017
Industry-specific recruitment agencies
utilized for more targeted employee
recruitment.
Employee turnover baseline measure
established. Attrition analysis conducted
to identify key areas of concern.
Employee Self-Serve implemented to
provide employees and managers with
access to HR related data on-line.
On-line employee recruitment system
implemented to streamline the
recruitment process for selection team
and to enhance the candidate experience.
44
Maximize assets and generate value
Activity
Status
Work
collaboratively
with partners and
the community to
develop and
deliver demand
based corporate
and industry
training programs
that meet the
needs of the
region
In progress
Expected
completion date
June 30, 2017
Progress in 2014/15
Local industry has been significantly impacted by the
economic downturn, resulting in a significant decrease
in demand for corporate training and non-credit
continuing education.
Collaboration with the Oil Sands Safety Association
(OSSA) led to Keyano being named the training
coordinator for Basic Safety Orientation, responsible
for coordination of learning providers nationally.
While this initiative has not yet realized a net
contribution for Keyano, it is viewed as an investment
in the future.
Basic Safety Orientation (BSO) required training for
oil sands workers, and an associated instructor
certification course, developed and launched.
Funding from Western Economic Diversification
Canada (WEDC), with support from Syncrude Canada
Ltd., secured for the acquisition of mobile simulators.
This collaboration will allow Keyano to train
Aboriginal students for careers as Heavy Equipment
Operator within their home communities.
The ACUtech Non-Destructive Testing (NDT) training
program launched in partnership with the Acuren
Group.
Responsibility for the Keyano Conservatory has been
transferred to the Keyano Theatre and Arts Centre to
provide better alignment with community partners
including the Regional Recreation Corporation and the
Wood Buffalo Arts Council.
The ‘Shifting to Wellness’ program enhanced through
the introduction of computer-based learning and
module-based delivery. As per the previous 24 years of
the program, Syncrude Canada Ltd. remained the
principal client.
Reprographics continues to build its community client
base providing services for Northern Lights Health
Care Foundation, Northern Lakes College, The
Electrical Training Centre and the Regional
Municipality of Wood Buffalo.
45
Establish an integrated process and cycle for planning, budgeting and reporting
Activity
Status
Develop and
implement an
integrated process
and cycle for
planning, budgeting
and reporting
Completed
Expected
completion date
June 30, 2016
Progress in 2014/15
Integrated cycle for planning, budgeting and
reporting established with plans to be
operationalized. This initiative is transitioning to
operations.
Integrate, develop and implement a College-wide, comprehensive health and
safety program including management systems and training programs
Activity
Status
Develop and
implement a Collegewide health and
safety program
Completed
Expected
completion date
March 31, 2016
Progress in 2014/15
Health and safety program developed and
operationalized. This initiative is transitioning to
operations.
Develop a sustainability program to reduce Keyano’s environmental impact,
which would include recycling, and operations-related efficiency initiatives
Activity
Status
Develop a sustainability
plan for Keyano
Delayed
Expected
completion date
June 2016
Progress in 2014/15
Initiative has not started. Work will begin on
developing a sustainability plan in 2015/16.
46
Review Keyano’s positioning and brand strategy
Activity
Status
Conduct a brand audit
Delayed
Expected
completion date
December 2015
Progress in 2014/15
Due to budget constraints, the design-related
elements of this initiative planned for the third
and fourth quarter of 2014/15 have been
deferred to 2017/18. This will allow for
stronger linkages to the development of the
Heart of the Campus initiative and its related
marketing elements.
An internal review of guidelines and standards
continues with regard to use of the various
iterations of the Keyano logo as well as an
audit of existing logos across the campuses
and centres.
Activity
Status
Operationalize the
Northern Memorandum
of Action and identify
opportunities for
collaborative initiatives
In progress
Expected
completion date
Northern
Memorandum of
Action in place
March 2014.
Operationalization
is ongoing
Progress in 2014/15
Signed a Memorandum of Understanding
with the University of Alberta for Bachelor
of Education degree completion.
Finalized collaboration with NAIT for
delivery of years 3 and 4 of Bachelor of
Business Administration.
Ongoing work with Mount Royal
University to finalize a collaborative
agreement to deliver years 3 and 4 of
Bachelor of Environmental Science.
Dialogue with the University of Alberta
regarding potential new collaborations for
a post-graduate business program and a
Bachelor of Arts degree completion.
47
Activity
Status
Actively pursue
opportunities for
collaboration with
business and industry,
school districts and
within the Campus
Alberta network
In progress
Expected
completion date
June 30, 2017
Progress in 2014/15
Collaboration with local school districts to
offer First Period of the Electrical
Apprentice program for dual credit in the
2015/16 academic year.
Dialogue with Northlands School District
on delivery of pre-employment welding in
early 2016.
Finalized agreement with NAIT for
delivery of years 3 and 4 of Bachelor of
Business Administration.
Negotiated a Memorandum of
Understanding with the University of
Alberta for Bachelor of Education degree
completion.
Ongoing work with Mount Royal
University to finalize a collaborative
agreement to deliver years 3 and 4 of
Bachelor of Science in Environmental
Science.
Ongoing work with Northern Lakes
College on curriculum collaboration for
Diploma in Practical Nursing.
Delivered volleyball, basketball, soccer
and hockey academies for both local
school districts.
Keyano continues to partner with local
school districts to share a welding
instructor.
The “Equipped for the Future” program
allows local business to donate tools,
equipment and other training devices to the
College. In 2014/15, $2.2 million in giftsin-kind was donated through the program.
48
Activity
Status
Work with the
Regional Municipality
of Wood Buffalo
(RWMB) and other
partners with respect to
enhancing land services
and community assets
In progress
Expected
completion date
June 30, 2017
With community
collaboration, work to
enhance the student
experience and
contribute to social and
cultural life in the
region by integrating
the provision of arts,
culture, sports and
recreation experiences
in conjunction with
approved Heart of the
Campus development
In progress
June 30, 2017
Progress in 2014/15
Ongoing work to establish a partnership with
RMWB to support the Theatre expansion
project resulted in an agreement in the early
phases of 2015/16 academic year. A business
plan was developed and a $10 million capital
campaign plan initiated. $1.4 million has
been pledged to date. In July 2015, the
municipality voted to provide a $10 million
grant towards the expansion. Discussions,
begun in 2014/15, continue with the
municipality in areas such as improving
public transit service for students, potential
tenancy in a proposed municipality facility
in Conklin and ongoing service provision in
the northern region.
As part of the Professional Arts Presenter
series, the Keyano Theatre and Arts Centre
showcased 64 artists in16 performances to
3,981 patrons. Fifty one volunteers
contributed 261 volunteer hours in support
of the series. Syncrude Canada Ltd.’s
provision of $65,000 in support funding is
instrumental to the production of the series.
In partnership with the Keyano College
Foundation, the Keyano Theatre and Arts
Centre drama series presented 34
performances to 9,099 patrons and engaged
103 volunteers contributing 9,232 hours.
The Theatre Outreach program hosted
workshops with seven schools and three
community centres across Wood Buffalo.
Develop an Alumni
engagement plan
Delayed
June 30, 2017
The Huskies Outreach program undertook
visits to Fort McKay, Anzac and Janvier in
2014/15 to deliver sport development clinics.
Due to budget constraints, the Alumni
Engagement strategic plan development
planned for the third and fourth quarter of
2014/15 has been deferred to 2017/18.
A review of internal alumni databases that
meet Anti-Spam and FOIP requirements is
underway. The College officially became a
member of the Canadian Council for the
Advancement of Education and initiated an
assessment of best practices for Alumni
engagement.
49
Consult with the Aboriginal community
Activity
Status
Regional stewardship –
Consultation with
Aboriginal community
In progress
Expected
completion date
June 30, 2017
Progress in 2014/15
Manager hired for the Fort Chipewyan
campus, which should lead to improved
dialogue with the Aboriginal community
(the previous Chair position had been
vacant for over a year).
Realignment of resources has allowed the
Chair of Aboriginal Education to focus
on Regional Stewardship and Aboriginal
programming.
Consultations undertaken in 2014/15 included:
 Gregoire Lake – 10 meetings with Fort McMurray First Nation #486
 Fort Chipewyan – Monthly meetings with the Mikisew Cree First Nation, the Athabasca Chipewyan
First Nation, and Metis Local #125
 Fort McKay – Monthly meetings with the Director of Education
50
Explore opportunities to expand programs and services in Fort Chipewyan, Fort
McKay, Gregoire Lake, Janvier and Conklin
Activity
Status
Regional stewardship Expansion of programs
and services
In progress
Expected
completion date
June 30, 2017
Progress in 2014-15
New facility in Gregoire Lake opened.
Health Care Aide program delivered in
Fort Chipewyan. First program delivery
expected in Fort McKay in 2016.
Funding for new literacy programs
negotiated, and received in last quarter,
allowing Keyano to hire a Coordinator to
work at regional campuses and centres
thereby increasing community presence.
Funding from Western Economic
Diversification Canada (WEDC) with
support from Syncrude Canada Ltd. was
secured for the acquisition of mobile
simulators and lab. This collaboration
will allow Keyano to train Aboriginal
students for careers as Heavy Equipment
Operators within their home
communities.
Designed and managed three projects in 2014/15 in partnership with government, industry and Aboriginal
communities:
 Four week hospitality training course to prepare at-risk Aboriginals for work at the new Sawridge
Hotel in Fort McMurray
 Fort McMurray First Nation #486 Community Improvement – 12 week life skills and construction
craft project
 Mikisew Cree First Nation Occupation and Trades – 13 week project to deliver GED+ in Fort
Chipewyan
51
ENROLLEMENT PLAN
COMPARISON OF PROJECTIONS TO ACTUALS 2014/15
The 2014/15 Comprehensive Institutional Plan (CIP) projected total FLEs at 1,463.6. Actual FLEs were 1,317.5,
representing a variance of -146.1 FLEs.
In general, enrollment has been negatively impacted by changes in the economy. Trades and Technologies FLEs
are lower by 60 FLEs, reflecting the recent downturn in employment in the sector as the low oil price impacts
activity in the oil sands. Preparatory and Basic Upgrading registrations were also significantly lower than
anticipated – FLE’s in this band were 76 lower than planned. A decline in funding for Aboriginal students in rural
communities, one of Kayano’s largest markets for upgrading programs, may have resulted in fewer applications
and registrations from this group. Additionally, the lack of interest in pre-employment programming led to the
cancellation of planned sections.
Enrollment projections made in 2013 for the 2014/15 CIP were predicated on economic data that suggested the oil
sands boom, and accordingly high demand for skilled trades, professions, and support service personnel in the
Wood Buffalo region, would continue over the medium to long-term. Therefore, strong growth in enrollment was
expected. While that growth did not materialize, Keyano’s enrollment has remained relatively steady despite the
economic situation and FLE actuals for 2014/15 are not significantly different from the previous year, with 1,384
FLEs in 2013/14 and 1,317 FLEs in 2014/15.
Below is a comparison for 2014/15 of projections, from the 2014/15 CIP, to actuals, by program band.
Comparison of 2014/15 FLEs, Projections to Actuals, by Program Band
CIP Projection
2014/15
Actuals
2014/15
Variance
Health Sciences
Trades & Technologies
Languages, Social Sciences, Arts & Humanities
Business
Education
Preparatory & Basic Upgrading
Recreation
Physical, Natural & Applied Sciences
Total FLEs (without collaborative FLEs)
144.4
511.3
150.6
194.0
62.0
282.3
10.0
109.0
1,463.6
141.4
451.7
166.3
188.4
67.0
206.7
6.8
89.2
1317.5
-3.0
-59.6
15.7
-5.6
5.0
-75.6
-3.2
-19.8
-146.1
Collaborative FLEs - estimated
Total FLEs
41
1,504.6
34
1351.5
-7.0
-153.1
Program Band
FLEs FROM INTERNATIONAL STUDENTS
International student FLEs were not projected in the 2014/15 CIP. Current actuals for 2014/15 are 61 FLEs.
Going forward, Keyano College projects 60 international student FLEs in 2015/16.
FLEs FROM COLLABORATIVE CREDENTIALS
Through collaborative programming with other institutions, Keyano helped educate an estimated 34 FLEs in
2014/15. This includes year 4 of the Nursing Degree and year 4 of the Bachelor of Education.
52
FINANCIAL AND BUDGET INFORMATION
Financial and budget information should be read in conjunction with the Keyano College (the “College”) annual
audited consolidated financial statements (see Appendix A).
The following analysis and the audited consolidated statements are reviewed and approved by the College’s Board
of Governors on the recommendation of the College’s Finance and Audit Committee. The College’s consolidated
financial statements have been prepared in accordance with Canadian Public Sector Accounting Standards.
The discussion and analysis provides an overview of the College’s:




Financial Results
Net Assets
Capital Planning
Areas of Significant Financial Risk
Financial Results


Total revenues of $77.8 million. The College ended the year with an excess of expenses over revenues of
$3.4 million.
Investment earnings from government business enterprise of $69,000.
Net Assets


Net assets decreased by $4.1 million explained by decreases in: accumulated surplus ($3.4 million deficit),
unrealized investment gains ($970,000), and offset by an increase in endowments ($240,000).
Accumulated operating surplus comprising: investment in capital tangible assets of $28.5 million,
restricted surplus of $7.9 million for educational and capital activities, and an unrestricted portion of $4.0
million, for a total of $40.4 million.
53
REVENUES AND EXPENSES IN PERCENTAGES:
$12.04
15%
2015 Revenues
$ millions
$0.07
0%
Grant revenues
$4.68
6%
Sales of services and
products
$77.80
Donations and investment
income
$12.31
16%
Student tuition and fees
$48.70
63%
Investment earnings in Land
Trust
2015 Expenses by Object
$ millions
$1.01
1%
$2.07
3%
$0.85
1%
$8.34
10%
Salaries
Materials, supplies and
services
Utilities
$19.92
25%
$81.19
Cost of goods sold
$49.00
60%
Scholarships and bursaries
Amortization of capital assets
54
2015 Expenses by Function
$ millions
Instruction and training
$25.23
31%
$27.17
34%
Ancillary services
Academic and student support
$81.19
$10.03
12%
Fundraising expenses - Keyano
College Foundation
$3.77
5%
$1.70
2%
$13.28
16%
Facility operations and
maintenance
Institutional support
REVENUES COMPARISON WITH PRIOR YEAR AND BUDGET:
2015 Revenues
$ millions
Budget
2015
2014
* During the 2014/15 fiscal year, Keyano College reclassified budgeted amounts in Government of Alberta & Federal grants
and Institutional support and Ancillary services. There is no impact to overall revenues and expenses of budgeted operating
surplus. Specifically the categories that have changed are: (i) $218,000 was reclassified from Federal & Other Government
Grants to Government of Alberta grants and (ii) $100,000 of budgeted parking expense was reclassified from Institutional
Support to Ancillary Services.
55
Total revenues decreased by $4.4 million over the prior year explained by:
Government of Alberta and Federal grants
 Grants revenues were consistent with prior year.
Sales of services and products
Decreased by $3.2 million over prior year due to:






Prior year included one-time insurance proceeds of $1.1 million.
Bookstore sales decreased by $124,000 due to students switching to online purchasing of books directly
from vendors.
Discontinuation of corporate recruitment program as the program was outside the scope of College’s
mandate resulting in decrease of revenues of $686,000.
Housing revenues decreased by $533,000 due to maintenance work (units had to be vacant).
Prior year included sales of School of Trades old asset disposals in the amount of $709,000.
Parking revenue decreased by $103,000 due to less demand for commercial parking lots.





Credit tuition fees decreased by $207,000, which is mostly due to lower enrollment in various programs.
Non-credit tuition revenue decreased by $1 million due to lower enrollment in the following programs:
OH&S, Asset Planning Certificate, Computer Training, Testing Services, Haul Truck and Safety Training.
Testing fees revenue decreased by $218,000 due to lower enrollment in Testing Services and Welding recertification programs.
Corporate Training revenue decreased by $499,000 due to decline in industry and cancellation of
programs.
Other miscellaneous student fees (i.e. student services fee, application fee, athletic services fee, etc.)
decreased by $176,000 due to lower enrollment in various programs.
Donations and other contributions
Increased by $1.2 million over prior year due to:


Donations increased by $970,000 due to transfers of unrestricted funds to Theatre, Syncrude Sports &
Wellness Centre and Power and Process Lab
Allocation of unamortized deferred capital contributions depreciation in the amount of $230,000.
Investment income
 Investment income increased by $696,000 over prior year due to the merger of Bissett Core Equity Trust
into Franklin Bissett, the Canadian Equity Fund portfolio investment. Accumulated gains were paid out
and reinvested, which resulted in a net gain.
Investment earnings (loss) in government business enterprise
 Investment earnings decreased by $1.5 million due to additional work performed for grounds maintenance,
surveying, cleaning lots and organizing lease rentals.
56
EXPENSES COMPARISON WITH PRIOR YEAR AND BUDGET:
Expense by Function
$ millions
Budget
2015
2014
* During the 2014/15 fiscal year, Keyano College reclassified budgeted amounts in Government of Alberta & Federal grants
and Institutional support and Ancillary services. There is no impact to overall revenues and expenses of budgeted operating
surplus. Specifically the categories that have changed are: (i) $218,000 was reclassified from Federal & Other Government
Grants to Government of Alberta grants and (ii) $100,000 of budgeted parking expense was reclassified from Institutional
Support to Ancillary Services.
Total expenses increased by $2.7 million over prior year explained by:
Salaries and benefits
 Salaries and benefits expenses increased by $4.6 million over prior year due to severance payouts as part
of cutbacks and operational efficiencies; Faculty and CUPE salary increases during the year and filling of
critical positions throughout the year.
 Accrual for SERP was reversed in the amount of $204,000 in the current year.
Materials, supplies and services





Service contracts expenses decreased by $1.2 million primarily due to filling critical positions reducing
the need for external contractors.
Legal, audit and insurance expenses increased by $206,000 due to increase in insurance premiums after
SSWC flood.
Instructional expenses increased by $419,000 due to School of Trades instructional equipment rental to
run various programs and collaborative brokerage fees paid to University of Alberta for Bachelor of
Education program.
Purchase of sports team uniforms in the current year in the amount of $190,000.
Facilities and grounds expenses decreased by $2.2 million due to cutbacks and operational efficiencies.
Some maintenance projects were cancelled due to the College’s revenue reductions.
57

As Power and Process Lab was deemed complete in prior year, the interest on long term debt has to be
expensed going forward as per accounting conventions therefore the increase is in the amount of
$437,000.
Cost of Goods Sold
Actual expenses decreased by $824,000 over prior year due to:



Discontinuation of corporate recruitment program resulted in decrease of cost of goods sold of
$609,000.
Bookstore cost of goods sold decreased by $148,000 due to decrease in sales.
Other decreases in various programs totalling $67,000.
 Amortization expense is higher by $1 million over prior year primarily due to first full year
capitalization of Power and Process Lab.
CAPITAL EXPENDITURES
The total capital spending for the year was $6.9 million. The breakdown is as follows:



Externally funded capital expenditures
Operating type capital expenditures
Expansion type capital expenditures
$2.1 million
$2.3 million
$2.5 million
Expansion type capital expenditures, which were internally funded, comprise of:




Heart of Campus
Campus Master Plan
Doug McRae Student Housing
Power and Process Lab
$619,000
$86,000
$899,000
$930,000
AREAS OF SIGNIFICANT FINANCIAL RISK


The College has advanced a $13.9 million interest-bearing loan (2.8%) with no set repayment plan to
Keyano College Land Trust. On June 26, 2015, the College entered into a signed agreement with the Land
Trust that set the terms of repayment to principal amount upon demand by the College. The advances are
to bear interest at a rate not to exceed the expedited rate of return set by the investment policy of the
College. A repayment plan will be set once lot development resumes and sales occur. Repayments have
been postponed.
Due to the economic climate in Fort McMurray, the lot development activity of Keyano College Land
Trust has been deferred for 18 months or until market conditions improve.
58
INTERNATIONALIZATION
While Keyano College welcomes international students, the College is not actively pursuing an internationalization
strategy and does not intend to offer programs outside of Canada. In 2014/15 the College hosted 82 international
students from 27 countries. Keyano’s international student tuition fee policy is cost recovery.
At the same time, Keyano continues to attract international student athletes through a progressive, achievementfocused tuition bursary, which has seen steady growth in the six years it has been offered. With an initial three
student athletes in the first year of the program (2010/11), the 2014/15 academic year saw a total of 18 students
across four sports teams. Huskies Athletics welcomes international students from Poland, Brazil, Australia, Kenya,
Turkey, Ireland, Nigeria and the United States. The international reach of our athletic recruiting contributes to the
strength of our athletic programs, and enriches the Keyano campus community in particular, and the Wood Buffalo
region as a whole. The Alberta College’s Athletic Conference (ACAC) named international student Pedro Bianchi,
a leader on the Keyano Huskies Futsal team, the 2014/15 Male Futsal Player of the Year.
59
INFORMATION TECHNOLOGY
Keyano’s information technology (IT) strategy is organized into four technology portfolios – technology
infrastructure, education technology, information systems and web presence. Plans are in place in each of these
areas to upgrade, replace or enhance services as needed to support achievement of the College’s goals and strategic
priorities.
Technology
Portfolio
Description
Status
Technology
Infrastructure
Provide a College wide
infrastructure that supports
learning and meets student,
staff and faculty capacity,
reliability and stability
expectations for both oncampus and remote access
In progress
Offer high quality
education technology
capabilities to enhance the
learning experience
Completed
Education
Technology
Expected
Completion
Date
2017
Progress in 2014/15
Server infrastructure replaced.
New wireless network rolled out.
Telephony infrastructure
upgraded.
2015
Continued ever-greening of aging
and obsolete technology.
Infrastructure in place to support
the ‘bring your own device’
(BYOD) initiative.
Learning management system
(Moodle platform) updated.
Students can readily access course
related materials for all courses
offered.
13 classrooms upgraded.
To further enhance Keyano’s
education technology capabilities
telepresence infrastructure will be
implemented in 2015/16 to
improve delivery of distance
learning and collaboration with
external partners.
60
Technology
Portfolio
Description
Status
Information
Systems
Provide faculty and staff
with a robust information
system to support datadriven decision making
In progress
Expected
Completion
Date
2016/17
Progress in 2014/15
Enterprise Resource Planning
(ERP) systems customized.
Academic and institutional
reports on Key Performance
Indicators (KPIs) provided to
enhance and support decision
making. Accessibility to this type
of data has been greatly improved
by the development of these
reports, which can be generated
by the end user on demand.
Support a move towards
‘self-service’ access to
data
Functionality of on-line systems
enhanced resulting in
improvements to the on-line
registration process and enhanced
access to transcripts and tax
forms.
Helpdesk processes reviewed and
efficiencies implemented
including self-service password
reset.
Employee Self-Serve
implemented to provide
employees and managers with
access to HR related data on-line.
Human Resources applicant
tracking system implemented.
New facilities work order system
rolled out.
Web Presence
Provide a central web
location for all College
services and develop an
internal web presence
Delayed
June 2015
Installation and configuration of
portal technology to enhance
Keyano’s internal web presence
completed. Staffing shortages
have delayed further development
until the summer of 2016.
61
CAPITAL PLAN
Capital spending in 2014/15 totalled $8.9 million, which funded purchases of classroom and student lounge
furniture, renovations to existing space to support a more welcoming environment and maintenance of facilities.
Over 50 capital projects were completed including upgrading student lounge areas and the construction of a
childcare facility. Thirteen classrooms were upgraded to meet the new classroom design specification. Keyano
maintains a three to five year ever-green cycle to upgrade information technologies and to ensure the College’s
technology infrastructure is stable and reliable.
Progress on the priority projects outlined in the College’s three-year capital program is outlined below.
Type
Description
Status
Expected
Progress in 2014/15
Completion
Date
New
Clearwater
Delayed
2018/19
Due to the economic downturn a new
Campus - Student
financing model is required for this project.
Residence and
Parkade
A tender has been issued to the market to fund
the project using an alternative financing
model and Keyano is awaiting results. As a
result, the completion date for this project has
been revised to 2019/20.
New/
Suncor Energy
Delayed
2018/19
A tender has been issued to the market to
Expansion
Industrial Campus
identify funding opportunities, which as well
and Center of
as constructing the new campus, would also
Excellence for
benefit the broader community by including
Safety Training
potential retail development.
and Simulation
New
Heart of the
Delayed
2021/22
While the Heart of the Campus project is
Campus
moving ahead, the current economic climate
has necessitated a revision to the project
timeline. The new completion date is expected
to be June 2030.
Maintenance
Clearwater
Campus Mechanical
Upgrades
Delayed
2019/20
A partnership has been established with the
Regional Municipality of Wood Buffalo to
support the Theatre expansion element of this
project. A business plan has been developed
and a $10 million capital campaign plan
initiated. $1.4 million has been pledged to
date. In July 2015, the municipality voted to
provide a $10 million grant towards the
Theatre expansion.
This is a four-part project including repairs/
replacement to the central Heating Plan,
emergency back-up, motor control centres and
the heating and cooling systems. A consultant
was hired to perform an in-depth review of the
heating and cooling system and make a
recommendation for replacement or upgrade.
An RFP has been released to perform an
inspection / maintenance of the motor control
centres and emergency backup systems. This
project with recommendations for moving
forward will be completed in 2015/16.
62
APPENDICES
63
Audited Financial Statements
KEYANO COLLEGE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2015
STATEMENT OF MANAGEMENT RESPONSIBILITY
The consolidated financial statements of Keyano College have been prepared by management in accordance with
Canadian Public Sector Accounting Standards. The consolidated financial statements present fairly the
consolidated financial position of the College as at June 30, 2015 and the consolidated results of its operations for
the year then ended.
Management is responsible for the preparation and presentation of the accompanying consolidated financial
statements, including responsibility for significant accounting judgments and estimates in accordance with
Canadian Public Sector Accounting Standards. This responsibility includes selecting appropriate accounting
principles and methods, and making decisions affecting the measurement of transactions in which objective
judgment is required.
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 Audit Committee. With the exception of the President, all members of the Audit Committee are not
employees of the College. The Audit Committee meets with management and the external auditors to discuss the
results of audit examinations and financial reporting matters. The external auditors have full access to the 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.
_____________________________
Acting, Chief Financial Officer
____________________________
President & CEO
64
2014
2015
ASSETS
Cash and cash equivalents (Note 4)
Portfolio investments (Note 5)
Accounts receivable (Note 7) (Note 22)
Loan receivable (Note 8)
Inventories and prepaid expenses
Tangible capital assets (Note 9)
Investment in and advances to government
business enterprise (Note 10)
$
$
LIABILITIES
Accounts payable and accrued liabilities
Debt (Note 12)
Deferred revenue (Note 13)
$
NET ASSETS
Endowments (Note 14)
Accumulated operating surplus (Note 15)
Accumulated remeasurement gains (Note 5)
$
$
1,949,947
18,933,964
3,518,184
456,414
722,304
118,894,154
13,873,239
158,348,206
7,432,942
22,964,523
81,744,730
112,142,195
4,483,551
40,430,325
1,292,135
46,206,011
158,348,206
$
$
$
$
$
7,804,160
19,166,134
6,832,779
655,834
117,922,692
14,100,765
166,482,364
7,780,980
24,334,922
84,041,089
116,156,991
4,243,762
43,819,170
2,262,441
50,325,373
166,482,364
Contingent liabilities, contractual obligations and subsequent event (Note 17) and (Note 18).
Approved by the Board of Governors:
______________________________
______________________________
President & CEO
65
2015
Budget
(Note 23)
Revenues
Government of Alberta grants
(Note 22) (Note 13)
Federal and other government
grants
Sales of services and products
Donations and other
contributions (Note 13)
Investment income (Note 19)
Equity from investment in
government business
enterprise (Note 25)
$
Expenses
Facility operations and
maintenance
Ancillary services
Fundraising expenses Keyano College Foundation
Operating (deficit) surplus
Accumulated operating
surplus, beginning of year
(Note 15)
Accumulated operating
surplus, end of year (Note 15)
$
47,895,851
2014
2015
$
47,803,823
$
47,141,464
1,888,110
895,327
1,042,836
15,012,196
15,924,144
520,154
12,308,437
12,040,500
2,426,053
15,539,974
14,189,787
1,195,595
900,000
5,283,000
2,256,723
69,077
1,560,355
1,573,772
87,423,455
77,799,940
82,243,783
26,251,660
14,244,848
11,714,652
25,227,551
13,283,199
10,033,252
22,876,329
12,292,251
12,358,495
23,588,525
3,757,395
2,466,585
27,172,445
3,771,795
1,700,543
24,747,761
4,302,525
1,841,978
82,023,665
5,399,790
43,819,170
81,188,785
(3,388,845)
43,819,170
78,419,339
3,824,444
39,994,726
49,218,960
$
40,430,325
$
43,819,170
66
2014
2015
Operating transactions
Operating (deficit) surplus
Add (deduct) non-cash items:
Amortization of tangible capital assets (Note 9)
Loss on disposal of tangible capital assets
Expended capital recognized as revenue (Note
13)
Investment earnings in government business
Decrease (increase) in accounts receivable
(Increase) decrease in inventories and prepaid
expenses
Decrease in accounts payable and accrued
liabilities (Note 9)
(Decrease) increase in deferred revenue
Cash provided by/(applied to) operating
transactions
Investing transactions
Loan receivable advances (Note 8)
Proceeds on sale of portfolio investments, net of
purchases
Repayments by (investment in) government
business enterprise (Note 10)
Cash applied to investing transactions
Financing transactions
Endowment contributions (Note 14)
Debt repayment
Capital contributions
Cash provided by financing transactions
Capital transactions
Acquisition of tangible capital assets (Note 9)
Proceeds on sale of tangible capital assets
Cash applied to capital transactions
Decrease in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year (Note 4)
Accumulated remeasurement gains, beginning of
year
Unrealized gains attributable to:
Portfolio investments
Amounts reclassified to statement of operations:
Accumulated remeasurement gains, end of year
(Note 5)
$
$
$
(3,388,845)
$
8,340,878
193,818
(5,162,585)
7,295,176
521,919
(5,165,256)
(69,077)
(1,573,772)
(85,811)
3,314,595
4,902,511
(1,915,320)
(66,470)
181,619
(517,264)
(6,184,644)
(1,238,704)
1,406,346
2,641,103
(374,731)
(456,414)
(737,520)
1,203,951
296,604
(3,348,541)
(897,330)
(2,144,590)
239,789
(1,871,515)
2,123,428
491,702
231,985
(1,849,109)
1,620,000
2,876
(6,918,421)
63,490
(6,854,931)
(5,854,213)
7,804,160
1,949,947
2015
2,262,441
(12,601,652)
642,387
(11,959,265)
(14,475,710)
22,279,870
7,804,160
2014
950,923
$
$
1,772,764
(805,093)
$
3,824,444
(165,213)
1,292,135
$
(461,246)
2,262,441
67
1.
Authority and Purpose
The Board of Governors of Keyano College is a corporation which manages and operates Keyano 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 Advanced Education, with the exception of the Chancellor and President, who are ex officio members. Under the
Post‑ Secondary Learning Act, Campus Alberta Sector Regulation, the College is a comprehensive community institution offering mandated
credentials and programs. The College is a registered charity, and under section 149 of the Income Tax Act (Canada), is exempt from the
payment of income tax. This tax exemption does not extend to its wholly-owned subsidiary, Keyano College Land Trust Corporation (the
"Land Trust").
2.
Summary of Significant Accounting Policies and Reporting Practices
a.
General ‑ Public Sector Accounting Standards (PSAS) and Use of Estimates
These consolidated financial statements have been prepared in accordance with 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. The College’s management uses judgment to determine such estimates. Restricted
expended capital recognized as revenue along with collectability of accounts receivable and amortization of tangible capital assets
are considered 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.
Non-Use of Net Debt Model Presentation
PSAS require a net debt presentation for the consolidated 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.
c.
Valuation of Financial Assets and Liabilities
The College’s financial assets and liabilities are generally measured as follows:
Cash and cash equivalents
Amortized cost
Fair value
Accounts receivable
Amortized cost
Amortized cost
Debt
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 or endowments.
All financial assets are tested annually for impairment. When financial assets are impaired, impairment losses 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.
The College does not use foreign currency contracts or any other type of derivative financial instruments for trading or speculative
purposes.
Management evaluates contractual obligations for the existence of embedded derivatives and elects to either designate the entire
contract for fair value measurement 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
liabilities. The College does not have any embedded derivatives.
68
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.
i.
Government grants, non-government grants and donations
The College recognizes government grants, donations and other contributions as follows:
Government transfers
Government transfers are referred to as government grants.
Government transfers and the associated externally restricted investment income are recorded as deferred revenue if the
terms for use of the transfer, or the terms along with the College’s actions and communications as to the use of the
transfer, create a liability. These transfers are recognized as revenue as the terms are met and, when applicable, the
College complies with its communicated use of the transfer.
Government transfers without terms for the use of the transfer are recorded as revenue when the College is eligible to
receive the funds.
Donations and non-government contributions
Donations and non-government contributions are received from individuals, corporations, and private sector
not‑ for‑ profit organizations. Donations and non-government contributions may be unrestricted or restricted for
operating or capital purposes or research purposes.
Unrestricted donations and non-government contributions are recorded 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.
Restricted donations, non-government contributions, realized and unrealized gains and losses for the associated
externally restricted investment income are recorded as deferred revenue if the terms for their use, or the terms along
with the College’s actions and communications as to the use, create a liability. These resources are recognized as
revenue as the terms are met and, when applicable, the College complies with its communicated use. If the restricted
donations are used to acquire or construct tangible capital assets, revenue will be recognized over the useful life of the
tangible capital assets.
In-kind donations of services and materials are recorded at fair value when such value can be reasonably determined.
While volunteers as well as College staff contribute a significant amount of time each year to assist the College in
carrying out its mission, the value of their services are not recognized in the consolidated financial statements because
fair value cannot be reasonably determined. Gift-in-kind donations recognized as revenues and expenses on the
consolidated statement of operations is $930,424 (2014 - $1,085,839).
ii.
Endowments
Donations that must be maintained in perpetuity are recognized as a direct increase in endowment net assets when
received. Investment income and unrealized gains and losses attributable to restricted portfolio investments are
recognized as deferred revenue.
iii.
Investment income
Investment income includes dividend and interest income, and realized gains or losses on the sale of portfolio
investments. Unrealized gains and losses on portfolio investments that are from unrestricted grants and donations are
recognized in the consolidated statement of remeasurement gains and losses until settlement. Once realized, these gains
or losses are recognized as investment income in the consolidated statement of operations.
Investment income from restricted grants and donations is recognized as deferred revenue when the terms for use create
a liability, and is recognized as investment income 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 first‑ in,
first‑ out (FIFO) method. Inventories held for consumption are valued at cost.
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, as well as interest costs that are directly attributable to the acquisition or construction of the asset.
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.
Capital lease obligations are recorded at the present value of the minimum lease payments excluding executor costs (e.g.
insurance, maintenance costs, etc.). The discount rate used to determine the present value of the lease payments is the lower of the
College’s rate for incremental borrowing or the interest rate implicit in the lease.
The cost, less residual value, of the tangible capital assets, excluding land, is amortized on a straight-line basis over the estimated
useful lives as follows:
69
Land improvements
Buildings and renovations
Equipment
Other
Computer hardware and software
20-40 years
10-40 years
5-25 years
5-25 years
3-15 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.
Contributed tangible capital assets are recorded 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. Transfers of tangible capital assets from
related parties are recorded at the carrying value.
The College holds a number of cultural and historical properties and treasures. Due to the subjective nature of these assets they are
not included in the values shown on the consolidated financial statements.
g.
Foreign Currency Translation
Financial assets and liabilities recorded in foreign currencies are translated to Canadian dollars at the year‑ end exchange rate.
Revenues and expenses are translated at average weekly exchange rates. In the period of settlement realized gains or losses from
these translations are included in investment income. Unrealized gains and losses are recognized in the consolidated statement of
remeasurement gains and losses.
h.
Employee Future Benefits
i.
Pension
The College participates with other employers in the Local Authorities Pension Plan (LAPP). This pension plan is a
multi-employer defined benefit pension plans that provide 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 pre-determined amounts that are expected to provide the plan’s future
benefits.
i.
Basis of Consolidation
Consolidated entities
The consolidated financial statements consolidate the accounts of Keyano College Foundation (the "Foundation") on a line-by-line
basis. The Foundation is a registered public foundation created to solicit, receive and administer funds and property donated for the
advancement of Keyano College.
Investment in Keyano College Land Trust
The consolidated financial statements include the accounts of Keyano College Land Trust (the "Land Trust") using the modified
equity method of accounting. The purpose of Keyano College Land Trust is to maximize the value of specific College lands
through development, sales and leases for purposes aligned with College needs.
j.
Funds and Reserves
Certain amounts, as approved by the 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.
k.
Expense by function
The College uses the following categories of functions in its statement of operations:
Expenses directly related to the delivery of programming and training within the College, whether for credit or non-credit
programs.
70
Expenses relating to activities directly supporting the academic functions of the College. This includes items such as libraries and
galleries and expenses for Deans. Academic and student support also includes expenses for centralized functions that support
individual students or groups of students.
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.
Includes expenses for centralized College-wide administration including executive management, public relations, alumni relations
and development, corporate insurance premiums, corporate finance, human resources, centralized and core computing, network
and data communications.
Ancillary services
Expenses related to services and products provided to the College community and to external individuals and organizations.
Services include the bookstore, parking, student residences and theatre.
Fundraising expenses
Expenses related to sales of services and products and donations and other contributions earned by the Keyano College
Foundation.
l.
Future Accounting Changes
In March 2015, the Public Sector Accounting Board issued PS 2200 Related party disclosures and PS 3420 Inter-entity
transactions. In June 2015, the Public Sector Accounting Board issued PS 3210 Assets, PS 3320 Contingent Assets, PS 3380
Contractual rights, and PS 3430 Restructuring transactions. These accounting standards are effective for fiscal years on or after
April 1, 2017, with the exception of PS 3430, which is effective for fiscal years starting on or after April 1, 2018.
PS 2200 - Related party disclosures, defines a related party and identifies disclosures for related parties and related party
transactions, including key management personnel and close family members.
PS 3420 – Inter-entity transactions, establishes standards on how to account for and report transactions between public sector
entities that comprise a government's reporting entity from both a provider and recipient perspective.
PS 3210 – Assets, provides guidance for applying the definition of assets set out in PS 1000, financial statement concepts, and
establishes general disclosure standards for assets.
PS 3320 - Contingent assets, defines and establishes disclosure standards for contingent assets.
PS 3380 - Contractual rights, defines and establishes disclosure standards on contractual rights.
PS 3430 - Restructuring transactions, defines a restructuring transaction and establishes standards for recognizing and measuring
assets and liabilities transferred in a restructuring transaction.
Management is currently assessing the impact of these new standards on the consolidated financial statements.
3.
Changes in Accounting Policies
In June 2010, the Public Sector Accounting Board issued PS 3260 Liability for Contaminated Sites effective for fiscal years starting on or
after April 1, 2014. Contaminated sites are a result of contamination being introduced into air, soil, water, or sediment of a chemical, organic,
or radioactive material, or live organism that exceeds an environmental standard. The College adopted this accounting standard retroactively
as of April 1, 2014. The adoption of this standard did not result in any adjustments to these consolidated financial statements.
4.
Cash and Cash Equivalents
2015
Cash
Money market funds and interest bearing
saving accounts
Restricted cash
2014
$ 980,693
917,579
$ 3,954,601
3,806,278
51,675
$ 1,949,947
43,281
$ 7,804,160
Cash equivalents include short-term investments with maturity less than three months from the date of acquisition. The Foundation has
restricted assets which relate to a restricted casino bank account with external restrictions from Alberta Gaming and Liquor Commission.
71
5.
Portfolio Investments
The composition and fair value of portfolio investments are as follows:
2015
2014
Fair value:
Money market funds, short-term
notes, and treasury bills
Canadian government and corporate
bonds fund
Canadian equity fund
Foreign equity fund
$ 1,760,330
$ 1,516,553
8,298,966
7,759,306
3,883,416
4,991,252
$ 18,933,964
4,045,037
5,845,238
$ 19,166,134
As at June 30, 2015, the terms to maturity of money market funds, short-term notes, treasury bills and Canadian government and corporate
bonds range from 127 days to 9 years with annual market yields ranging from 1.3% to 3.6% (2014 - 1.5% to 4.2%).
The investment portfolio includes internally and externally restricted funds of $17,173,634 (2014 - $17,649,582) that consist of endowments
and other funds. The restricted endowment funds are part of this balance in the amount of $4,483,551 (2014 - $4,243,762) (Note 14).
The following table provides a categorization of investments that are measured subsequent to initial recognition at fair value, grouped into
levels 1 to 3 based on the degree to which the inputs in determining fair value are observable.
2015
Level 1
Portfolio investments at
fair value:
Money market funds,
short-term notes, and
treasury bills
Canadian government and
corporate bonds fund
Foreign equity fund
Total portfolio investments
Level 2
Level 3
Total
$ 1,760,330
$ -
$ -
$ 1,760,330
-
8,298,966
-
8,298,966
3,883,416
4,991,252
$ 10,634,998
$ 8,298,966
$ -
3,883,416
4,991,252
$ 18,933,964
2014
Level 1
Portfolio investments at
fair value:
Money market funds,
short-term notes, and
treasury bills
Canadian government and
corporate bonds fund
Foreign equity fund
Total portfolio investments
Level 2
Level 3
Total
$ 1,516,553
$ -
$ -
$ 1,516,553
-
7,759,306
-
7,759,306
4,045,037
5,845,238
$ 11,406,828
$ 7,759,306
$ -
4,045,037
5,845,238
$ 19,166,134
72
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
2014
Net unrealized gains, beginning of year
Unrealized (losses) gains attributable to:
Net unrealized gains, end of year
$ 2,509,374
$ 1,338,265
(969,690)
$ 1,539,684
1,171,109
$ 2,509,374
Presented as,
Balance, beginning of
year
(Decrease) increase
during the year
Accumulated
Remeasurement gains
$ 2,262,441
2015
Endowments recorded
in deferred
contributions (Note 13)
$ 246,933
(970,306)
$ 1,292,135
2014
Total
Total
$ 2,509,374
$ 1,338,265
616
(969,690)
1,171,109
$ 247,549
$ 1,539,684
$ 2,509,374
Balance, end of year
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
The College is exposed to market risk - 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 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 5% (2014 - 5%) increase or decrease in the market prices. As at June 30, 2015, if
market prices had a 5% (2014 - 5%) increase or decrease with all other variables held constant, the increase or decrease in investment income
for the year would have been a total of $321,877 (2014 - $325,824).
73
Foreign currency risk
The College is exposed to foreign exchange risk on investments that are denominated in foreign currencies and listed in portfolio investments
at fair value in Canadian dollars. The College uses a recognized investment firm to manage portfolio investments. The investment firm may
use a number of strategies to manage currency risk including but not limited to foreign currency forward contracts and other types of
derivative financial instruments for trading or speculative purposes. A change in the foreign currency exchange rate would result in the
following impact to remeasurement gains and losses:
2015
Change of 5.0%
Fair value
Foreign equities
predominately in US dollars
Foreign equities
predominately in Euros and
UK Pounds
2014
Change of 5.0%
$ 2,184,328
$ 109,216
$ 126,116
2,806,924
140,346
166,146
$ 4,991,252
$ 249,562
$ 292,262
Liquidity risk
The College maintains a short-term line of credit that is designed to ensure that funds are available to meet current and forecasted financial
requirements in the most cost effective manner. As at June 30, 2015, the College had committed borrowing facilities of $1,000,000 (2014 $1,000,000), none of which has been drawn.
Credit risk
The College is exposed to credit risk on investments arising from the potential failure of a counterparty, debtor and issuer to honor its
contractual obligations. To manage the risk the College has established an investment policy with required minimum credit quality standards
and issuer limits. The credit risk from accounts receivable is low as the majority of balances are due from government agencies and corporate
sponsors.
The credit risks on investments on bonds held are as follows:
2015
Credit rating
AAA
AA
A
BBB
Not rated
2014
25.6%
13.6%
50.4%
9.9%
0.5%
100.0%
21.4%
24.5%
45.2%
7.6%
1.3%
100.0%
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 12).
7.
Accounts Receivable
2015
Student receivables
Trade receivables
Ministry of Advanced Education (Note
22)
Canada Revenue Agency (GST)
Loans receivable from staff
Accrued receivables
Gaming receivables
Less allowance for doubtful accounts
2014
$ 117,961
1,493,401
1,137,348
$ 295,992
3,181,250
1,061,244
106,804
43,081
647,901
(28,312)
$ 3,518,184
39,105
37,751
2,299,305
54,000
(135,868)
$ 6,832,779
Trade receivables are related to corporate training, continuing education and other rentals paid for by corporations. Approximately $561,486
(2014 - $1,747,261) of trade receivables at June 30, 2015 was owed by two (2014 - three) corporate clients.
Ministry of Advanced Education balance represents an accrual of northern cost of living allowance for the College's employees.
Accounts receivable are unsecured and non-interest bearing. Loans receivable from staff includes computer loans that are repaid within 30
months with no interest.
74
8.
Loan receivable
During the year, the College entered in the lease agreement with YMCA of Wood Buffalo by providing a renovated space. The College will
charge YMCA of Wood Buffalo interest on the capital cost of completing the renovations at a rate of 2.92% per annum. The capital cost is to
be repaid by YMCA of Wood Buffalo over a period of 15 years.
Principal payments in each of the next five years and thereafter are as follows:
2016
2017
2018
2019
2020
Thereafter
9.
$ 6,763
26,389
27,170
28,802
29,654
337,636
$ 456,414
Tangible Capital Assets
2015
Land
Improvements
Land
Cost
Beginning of
year
Buildings &
Renovations
Equipment1
Computer
Hardware &
Software
Other2
Total
$ 12,980,333
$ 1,663,002
$139,452,711
$ 36,824,864
$ 9,312,397
$ 3,424,068
$203,657,375
-
-
2,752,645
5,302,638
1,255,348
259,013
9,569,644
-
-
(85,872)
(991,218)
(2,094)
-
(1,079,184)
$12,980,333
$1,663,002
$142,119,484
$41,136,284
$10,565,651
$3,683,081
$212,147,835
$-
$377,329
$59,462,284
$15,876,026
$7,112,491
$2,906,553
$85,734,683
-
64,801
3,768,336
3,087,227
1,249,669
170,845
8,340,878
-
-
(41,028)
(778,835)
(2,017)
-
(821,880)
-
442,130
63,189,592
18,184,418
8,360,143
3,077,398
93,253,681
$12,980,333
$1,220,872
$78,929,892
$22,951,866
$2,205,508
$605,683
$118,894,154
Acquisitions
Disposals
Accumulated
Amortization
Beginning of
year
Amortization
expense
Effects on
disposals,
including
write-downs
Net book
value at June
30, 2015
75
2014
Land
Improvements
Land
Cost
Beginning of
year
Buildings &
Renovations
Equipment1
Computer
Hardware &
Software
Other2
Total
$12,980,333
$1,402,659
$142,776,920
$33,006,714
$10,464,899
$3,939,395
$204,570,920
-
260,343
3,567,068
8,439,589
1,021,063
72,361
13,360,424
-
-
(6,891,277)
(4,621,439)
(2,173,565)
(587,688)
(14,273,969)
$12,980,333
$1,663,002
$139,452,711
$36,824,864
$9,312,397
$3,424,068
$203,657,375
-
$312,528
$55,994,165
$17,057,294
$8,031,073
$3,277,888
$84,672,948
-
64,801
3,468,119
2,358,671
1,252,718
150,867
7,295,176
-
-
-
(3,539,939)
(2,171,300)
(522,202)
(6,233,441)
-
377,329
59,462,284
15,876,026
7,112,491
2,906,553
85,734,683
$12,980,333
$1,285,673
$79,990,427
$20,948,838
$2,199,906
$517,515
$117,922,692
Acquisitions
Disposals
Accumulated
Amortization
Beginning of
year
Amortization
expense
Effects on
disposals,
including
write-downs
Net book
value at June
30, 2014
$
1
Equipment includes vehicles, heavy equipment, office equipment and furniture, and leasehold improvements.
2
Other tangible capital assets include audio/visual equipment and library books.
Buildings and renovations include work in progress of $3,240,045 (2014 - $536,920). Computer hardware and software include work in
progress of $225,000 (2014 - $nil).
Interest in the amount of $nil (2014 - $418,585) was capitalized by the College and relates to the power & process building.
Acquisitions during the year include gift-in-kind contributions of $1,980,887 (2014 - $304,550). Acquisitions during the year include
$1,564,888 (2014 - $1,395,664) in accounts payables and accrued liabilities.
Total cost of capital leases included in equipment is $3,003,459 (2014 - $2,673,840), accumulated amortization is $1,618,217 (2014 $1,291,868), net book value is $1,385,242 (2014 - $1,381,972) and amortization expense is $497,846 (2014 - $407,839). Total value of leased
equipment acquired by means of capital lease is $501,116 (2014 - $454,223). During the year, leased equipment with a cost of $171,497
(2014 - $nil) and accumulated amortization of $171,497 (2014 - $nil) were disposed.
Gift-in-kind contributions, buildings acquisition in accounts payables and accrued liabilities and capital leases were non-cash transactions and
have been excluded from the statement of cash flows.
10.
Investment In and Advances To Government Business Enterprise (Note 25)
On July 4, 2013, the College transferred 611.04 acres of land development to the Land Trust with a cost base of $6,876,225. This transaction
occurred outside the course of normal operations, and was measured at its carrying value.
Included in sales of services and products is $750,000 (2014 - $750,000) in service fees related to cost recoveries from the Land Trust. The
transaction occurred in the normal course of operations and was measured at the exchange amount. The exchange amount has been agreed to
and established by the Land Trust and the College through a signed master service agreement.
Advances to the Land Trust bear interest at 2.8% (2014 - 2.8%) (Note 19). On June 26, 2015, the College entered into a signed agreement
with the Land Trust that set the terms of repayment to principal amount upon demand of the College. Until such demand is made, the Land
Trust covenants and agrees to pay compounding interest monthly. The advances are to bear interest at a rate not to exceed the expected rate of
return set by the investment policy of the College. A repayment plan will be set once lot development resumes and sales occur. Repayments
have been postponed as part of the financing conditions between Royal Bank of Canada and the Land Trust (Note 17).
Service agreement revenue, interest revenue and other advances are in the amount of $1,003,387 (2014 - $10,224,765) were non-cash
transactions and have been excluded from the statement of cash flows.
76
The balance represents the investment in the Land Trust with the following breakdown:
2015
100 Class "A" common voting shares (1)
Opening advances
Advances
Repayments
Total advances to Keyano College Land
Trust
Opening accumulated investment
earnings (loss)
Current investment earnings (Note 25)
Total accumulated earnings
2014
$ 10
12,588,104
1,003,387
(1,300,000)
12,291,501
$ 10
2,363,329
10,224,765
12,588,104
1,512,661
(61,111)
69,077
1,581,738
$ 13,873,239
1,573,772
1,512,661
$ 14,100,765
(1) The Board of Governors of Keyano College is the registered holder of 100 Class "A" common voting shares of the Keyano College Land
Trust Corporation.
11.
Employee Future Benefit Liabilities
a)
Defined benefit plan accounted for on a defined contribution basis
The 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). An actuarial valuation of the LAPP was carried out as at December 31, 2013 and was then
extrapolated to December 31, 2014. The pension expense recorded in these financial statements is $2,977,238 (2014 - $2,521,689).
12.
Debt
Debt is measured at amortized cost and is comprised of the following:
Collateral
Debentures payable to
Alberta Capital
Finance Authority:
Campus Development
Project
Keyano Syncrude
Sport & Wellness
Centre
Deferred Housing
Maintenance
Power & process lab
Obligations under capital
leases
2015
Maturity
Interest Rate
1
June 2026
6.5%
2
March 2015
3
2014
Amortized Cost
Amortized Cost
$ 3,466,975
$ 3,678,754
4.3
-
120,025
December 2020
3.4
1,064,008
1,237,277
4
June 2032
2.9
5
December 2016 October 2019
0-6 %
17,687,408
22,218,391
746,132
18,480,738
23,516,794
818,128
$ 22,964,523
$ 24,334,922
Collateral – (1) title to building with a net book value of $3,963,780 (2014 - $4,161,969); (2) none; (3) none; (4) title to the land for the
College's Suncor Energy Industrial Campus main building with a net book values of $1,032,717 (2014 - $1,204,836); (5) title to leased assets
with a net book value of $1,385,242 (2014 - $1,381,972).
Principal repayments in each of the next five years and thereafter are as follows:
2016
2017
2018
2019
2020
Thereafter
$
$
1,511,036
1,485,850
1,417,184
1,471,503
1,436,401
15,642,549
22,964,523
Interest expense on debt is $851,929 (2014 - $902,243) and is included in the consolidated statement of operations.
77
13.
Deferred Revenue
Deferred revenues are set aside for specific purposes as required either by legislation, regulation or agreement:
2015
Restricted
Balance,
beginning of
year
Grants, tuition
and donations
received
Restricted
gaming revenue
Investment
income (Note
19)
Gifts-in-kind
(Note 9)
Recognized as
revenue
Unrealized loss
on investments
(Note 5)
Unamortized
deferred capital
contributions
transfers
Balance, end of
year
Unspent capital
contributions
$ 2,446,776
Other unspent
contributions
$ 9,481,045
Spent capital
contributions
$ 67,800,225
Fundraising
unspent
contributions
$ 295,171
Tuition,
donations and
other fees
$ 4,017,872
Total
$ 84,041,089
1,441,217
10,518,483
-
219,000
5,485,683
17,664,383
-
-
-
54,582
-
54,582
5,502
665,967
-
-
-
671,469
1,980,887
-
-
-
-
1,980,887
-
(12,644,357)
(5,162,585)
(298,078)
(4,563,276)
(22,668,296)
-
616
-
-
-
616
(3,864,995)
(52,013)
4,820,524
-
(903,516)
-
$2,009,387
$7,969,741
$67,458,164
$270,675
$4,036,763
$81,744,730
2014
Restricted
Balance,
beginning of
year
Grants, tuition
and donations
received
Restricted
gaming revenue
Investment
income (Note
19)
Gifts-in-kind
(Note 9)
Recognized as
revenue
Unrealized gain
on investments
Unamortized
deferred capital
contributions
transfers
Balance, end of
year
Unspent capital
contributions
$ 2,246,776
Other unspent
contributions
$ 9,638,912
Spent capital
contributions
$ 69,916,688
Fundraising
unspent
contributions
$ 211,934
Tuition,
donations and
other fees
$ 2,996,006
Total
$ 85,010,316
1,620,000
11,756,318
-
251,890
7,674,160
21,302,368
-
-
-
43,281
-
43,281
15,832
458,097
-
-
57,753
531,682
304,550
-
-
-
-
304,550
-
(11,661,651)
(5,165,256)
(211,934)
(5,971,858)
(23,010,699)
-
(140,409)
-
-
-
(140,409)
(1,740,382)
(570,222)
3,048,793
-
(738,189)
-
$ 2,446,776
$ 9,481,045
$ 67,800,225
$ 295,171
$ 4,017,872
$ 84,041,089
Revenue recognized from spent capital contributions has been recorded in Government of Alberta grants in the amount of $4,634,240 (2014 $4,958,646) and donations and other contributions in the amount of $528,345 (2014 - $206,610).
78
14.
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.
In any year, if the investment income earned on endowments is insufficient to fund the spending allocation, the spending allocation is funded
from the cumulative capitalized investment income. However, for individual endowment funds without sufficient cumulative capitalized
income, the spending allocation will be suspended until sufficient capitalized income is available. The principal of the endowment will remain
intact.
The composition of endowments is as follows:
2015
Balance, beginning of year
Endowment contributions
Balance, end of year
2014
$ 4,243,762
239,789
$ 4,483,551
$ 4,011,777
231,985
$ 4,243,762
15.
Accumulated Operating Surplus
The funds and reserves are established to show a breakdown of accumulated operating surplus.
The composition of accumulated operating surplus is as follows:
2015
2014
$ 4,000,000
$ 4,000,000
28,471,469
25,787,546
7,958,856
14,031,624
$ 40,430,325
$ 43,819,170
Investment in tangible capital assets represents the amount of the institution’s accumulated operating surplus that has been invested in the
institution’s capital assets.
Unrestricted operating surplus
Investment in tangible capital assets
Internally restricted surplus (Note 16)
16.
Internally Restricted Surplus
Internally restricted surplus represent amounts set aside by the College’s Board of Governors for specific purposes. The Board passed the
motion for internally restricted surplus on May 30, 2014 where the unrestricted operating surplus is to be maintained at 5% of the budgeted
operating revenues; $2,000,000 is to be restricted for educational purposes and the rest is restricted for future capital activities. 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
Capital activities
Education
Total
2014
$ 5,958,856
2,000,000
$ 7,958,856
$ 12,031,624
2,000,000
$ 14,031,624
17.
Contingent Liabilities
The College is a defendant in a number of 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.
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 has guaranteed a $21 million dollar loan with Royal Bank of Canada for the Land Trust. The guarantee complies with
Government Legislative requirements and an approved Order in Council was received on September 8, 2014. At June 30, 2015, $4,249,215
79
(2014 - $nil) was outstanding on the loan. The College has postponed advances to the Land Trust and pledged not to increase debt over Riedel
Place student residence. No liability has been recorded in association with this guarantee.
The Land Trust holds mortgage receivables from two of its executive employees (2014 - three). They include an "Option to Repurchase"
clause which allows the Land Trust to repurchase the properties in the event that the purchasers cease to be employed with the Trust or
College, cease to reside in the property or transfer, assign, or in any way divest themselves of their interest in the land and premises pursuant
to the terms of the agreement.
The purchase price for the clauses noted above is determined based on the greater of the "Purchaser's Guaranteed Equity" or the "Purchaser's
Guaranteed Equity plus the Purchaser's Vested Equity". As of June 30, 2015, the aggregate Purchaser's Guaranteed Equity is $49,287 (2014 $43,063) and the aggregate Purchaser's Vested Equity is $nil (2014 - $nil). The election of these clauses is subject to many uncertainties and
the outcome is not predictable with assurance. In the opinion of management, it is probable that the College will need to repurchase the
properties, however, the timing and the amount is unknown and as such no liability has been recorded.
18.
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 amount payable for the unexpired terms of these contractual obligations are as follows:
Service Contracts
2016
2017
2018
2019
2020
Capital Projects
$ 1,909,468
522,111
40,730
37,392
36,272
$ 2,545,973
$ 403,737
$ 403,737
Information
Systems and
Technology
$ 45,147
17,673
$ 62,820
Long-term Leases
$ 193,882
165,882
125,512
125,158
111,853
$ 722,287
Total
$ 2,552,234
705,666
166,242
162,550
148,125
$ 3,734,817
19.
Investment Income
The composition of investment income is as follows:
2015
Income on investments
held for endowments
Income on other
investments
Interest income from
government business
Amounts deferred (Note
13)
Investment income
2014
$ 581,766
$ 458,098
1,987,664
1,325,414
2,569,430
358,762
1,783,512
308,525
(671,469)
(531,682)
$ 2,256,723
$ 1,560,355
20.
Expense by Object
The following is a summary of expense by object:
2015
Budget
(Note 23)
Salaries
Materials, supplies and
services
Utilities
Cost of goods sold
Scholarships and bursaries
(Note 9)
2014
Actual
Actual
$ 48,395,561
22,698,829
$ 48,995,343
19,924,334
$ 44,336,364
22,038,241
2,316,026
1,337,373
929,100
6,346,776
2,072,721
1,008,187
847,322
8,340,878
2,117,567
1,832,505
799,486
7,295,176
$ 82,023,665
$ 81,188,785
$ 78,419,339
80
21.
Salary and Employee Benefits
Under the authority of the Fiscal Management Act, the President of Treasury Board and Minster of Finance requires the disclosure of certain
salary and employee benefits information.
2015
Other cash
benefits(2)
Base salary(1)
Governance
Members of the
Board of
Governors
Executive
President
Senior Director,
Human Resources
Chief Executive
Officer, Land
Trust(5)
Acting Chief
Financial Officer(8)
Vice-Presidents:
Vice-President
Finance and
Administration
and CFO(4)
Vice-President
Academic
Vice-President
Capital Projects
and Facilities
Operations(7)
Vice-President
External
Relations and
Advancement(6)
2014
Other noncash benefits(3)
Total
Total
$ -
$ 7,002
$ -
$ 7,002
$ 11,179
253,094
149,419
72,480
28,440
54,107
76,103
379,681
253,962
390,986
205,733
200,000
48,480
29,627
278,107
282,234
72,633
12,240
12,969
97,842
-
94,846
45,003
14,628
154,477
269,981
180,000
48,480
40,419
268,899
272,213
169,154
45,559
31,009
245,722
-
180,000
48,480
41,515
269,995
67,622
Base salary included pensionable base pay.
Other cash benefits include honoraria, automobile allowances, living allowances, guaranteed equity payment and other allowances.
Other non-cash benefits include the College's share of all employee benefits and contributions or payments made on behalf of employees
including pension, supplementary retirement plans, health care, dental coverage, group life insurance, short and long-term disability plans,
accidental death dismemberment insurance and professional development.
The Vice-President Finance and Administration and CFO position was vacant as of January 9, 2015.
The Chief Executive Officer, Land Trust position included two months of seconded service and ten months of employed service in 2014.
The Vice-President External Relations and Advancement position was vacant for nine months in 2014.
The Vice-President Capital Projects and Facilities Operations is a new position and was filled on July 24, 2014.
The Acting Chief Financial Officer was in place on January 9, 2015. Salaries and benefits do not include payments in employee's previous
role.
81
22.
Related Party 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.
2015
Grants from Government of Alberta
Ministry of Advanced Education:
Operating
Capital
Access to the Future Fund
Apprenticeship
Other
Total Advanced Education
Other Government of Alberta
departments and agencies
Human Services
Other
Total other Government of Alberta
Total contributions received
Restricted expended capital
recognized as revenue (Note 13)
Add (less): deferred contributions
Accounts receivable
Ministry of Advanced Education
(Note 7)
Other Government of Alberta
2014
$ 35,924,830
1,004,664
2,148,000
1,465,560
478,584
$ 41,021,638
$ 36,681,036
3,439,787
2,420,382
1,714,859
$ 44,256,064
499,394
258,227
757,621
624,287
663,951
1,288,238
41,779,259
4,634,240
45,544,302
4,958,646
1,390,324
$ 47,803,823
(3,361,484)
$ 47,141,464
$ 1,137,348
$ 1,061,244
62,464
277,301
$ 1,199,812
$ 1,338,545
The College has liabilities with Finance and Alberta Capital Finance Authority as described in Note 12.
23.
Budget Figures
Budgeted figures have been provided for comparison purposes. The budget presented in the consolidated financial statements includes the
budget derived from the College's Comprehensive Institutional Plan as approved by the Board of Governors on April 24, 2014 and the budget
for Keyano College Foundation as approved by the Board of Directors on April 28, 2014.
24.
Approval of Financial Statements
The consolidated financial statements were approved by the Board of Governors of Keyano College.
82
25.
Condensed Supplementary Financial Information of Keyano College Land trust
The following table provides condensed financial information reported separately for Keyano College Land Trust. The Land Trust financial
statements are prepared in accordance with the International Reporting Standards.
2015
Assets
Cash and cash equivalents
Accounts receivable
Prepaid expenses
Current portion of mortgages receivable
Inventory - land for resale
Property and equipment
Mortgages receivable
Investment property
Liabilities
Advances from Keyano College
Due to Keyano College Land Trust
Corporation
RBC lot development loan
Equity
Accumulated trust surplus
Comprehensive income
Revenues
Expenses
2014
$ 815,896
70,517
113,191
20,781
12,679,707
119,772
1,439,878
3,523,239
$ 18,782,981
$ 1,232,016
130,670
108,608
29,716
8,246,208
149,246
2,189,267
2,738,478
$ 14,824,209
$ 660,538
12,291,480
10
$ 723,444
12,588,094
10
4,249,215
$ 17,201,243
$ 13,311,548
$ 1,581,738
$ 18,782,981
$ 1,512,661
$ 14,824,209
$ 2,070,812
(2,001,735)
$ 69,077
$ 2,192,570
(618,798)
$ 1,573,772
26.
Comparative Figures
Certain figures have been reclassified to conform to the presentation adopted in the financial statements for the year-ended June 30, 2015.
83
84

draft 2014-2015 - Keyano College

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