LAKELAND COLLEGE
LAKELAND COLLEGE
LAKELAND COLLEGE
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ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
Lloydminster Campus<br />
Bag 6600<br />
2602 59 Avenue<br />
Lloydminster, Alberta<br />
S9V 1Z3<br />
Vermilion campus<br />
5707 47 Avenue West<br />
Vermilion, Alberta<br />
T9X 1K5<br />
1 800 661 6490<br />
lakelandcollege.ca
1<br />
CONTENTS<br />
Board Accountability Statement................................................................................. 2<br />
Message from the President....................................................................................... 3<br />
Mandate...................................................................................................................... 4<br />
Year in Review............................................................................................................. 5<br />
Student success.................................................................................................. 5<br />
Community connections...................................................................................... 5<br />
Happy host........................................................................................................... 6<br />
Infrastructure investment.................................................................................... 6<br />
Programming points............................................................................................ 6<br />
Employee excellence............................................................................................ 7<br />
Operational Overview.................................................................................................. 8<br />
Board of Governors.............................................................................................. 8<br />
Opportunities....................................................................................................... 8<br />
Challenges........................................................................................................... 8<br />
Core Programs............................................................................................................ 9<br />
Enrolment.................................................................................................................... 10<br />
Facilities...................................................................................................................... 11<br />
Staffing....................................................................................................................... 11<br />
Performance Review................................................................................................... 12<br />
Addressing the Priorities of Advanced Education and Technology............................. 16<br />
Donors........................................................................................................................ 18<br />
Financial Statements................................................................................................... 20<br />
Management’s Responsibility for the Financial Statements................................ 20<br />
Auditor’s Report................................................................................................... 21<br />
Statement of Financial Position........................................................................... 22<br />
Statement of Operations...................................................................................... 23<br />
Statement of Changes in Net Assets................................................................... 24<br />
Statement of Cash Flows..................................................................................... 25<br />
Notes to the Financial Statements....................................................................... 26<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
2<br />
Board Accountability Statement<br />
The Lakeland College Annual Report for the year ended June 30, 2008 was prepared under<br />
the Board’s direction in accordance with the Government Accountability Act and ministerial<br />
guidelines established pursuant to the Government Accountability Act. All material economic,<br />
environmental or fiscal implications of which we are aware have been considered in the<br />
preparation of this report.<br />
Doug Elliott<br />
Chairman<br />
Lakeland College Board of Governors<br />
January 2009<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
3<br />
message from the president<br />
Glenn Charlesworth, President and CEO<br />
In the 2007-11 Business Plan, Lakeland<br />
College announced it was developing a<br />
new strategic plan. In February 2008,<br />
the Board of Governors adopted Future<br />
Directions – A Road Map Towards<br />
Our Next Century. Eleven months in<br />
the making, the strategic plan outlines<br />
six ambitious yet attainable goals<br />
we will strive to achieve as we work<br />
towards our centenary in 2013. Future<br />
Directions – A Road Map Towards Our<br />
Next Century provides direction for<br />
creating an environment where our<br />
students and employees can thrive.<br />
It also focuses on sustainability and<br />
enrichment of programs, financial<br />
resources and facilities.<br />
By the end of the 2007-08 year, steps<br />
had been taken towards achieving<br />
these goals. We realized a budget<br />
surplus of $4.4 million and as a result<br />
were able to start modernizing two<br />
residence buildings at the Vermilion<br />
campus rather than one as was<br />
scheduled. Construction of a cattle<br />
and sheep facility was completed<br />
at the Vermilion campus and at the<br />
Lloydminster campus, construction<br />
of the Bill Kondro Wing had reached<br />
substantial completion by the end of<br />
June.<br />
Apprenticeship technical training<br />
programming expanded with the<br />
introduction of the first year of<br />
instrument technician and steamfitterpipefitter<br />
training. Lakeland also<br />
announced it will offer a sign language<br />
interpretation diploma program and<br />
a renewable energy and conservation<br />
certificate program. Both programs<br />
start in 2008-09.<br />
The decision made in 2006-07 to<br />
invest in marketing and enrolment<br />
management paid dividends this<br />
year as Lakeland realized an 8.4 per<br />
cent increase in full-load equivalents<br />
and the number of students taking<br />
full or part-time credit programming<br />
increased by 17.5 per cent. Offering an<br />
academic excellence scholarship and<br />
a tour tuition credit, and hiring two<br />
enrolment specialists were factors in<br />
the increase.<br />
At the end of the year we introduced<br />
a new slogan - Live the Learning.<br />
It’s an apt description of the handson<br />
learning environment offered at<br />
Lakeland. It’s this atmosphere that<br />
helps our students succeed, and in<br />
many cases, excel. In the following<br />
pages you’ll read about students<br />
Pamela Ollenberger, Garrett Trayhorne,<br />
Karl Kitt, Lacey Hauck, Kristine<br />
Alexander, Peggy Lovell, and Lindsay<br />
Nuspl and how living the learning at<br />
Lakeland helped them stand out in<br />
competitions featuring students from<br />
other colleges and universities.<br />
My thanks to our students, employees,<br />
alumni and friends for helping make<br />
2007-08 a successful year. I’m excited<br />
about what we have achieved this past<br />
year and am optimistic about what<br />
we will accomplish during the years<br />
leading up to our centenary.<br />
Glenn Charlesworth<br />
President & Chief Executive Officer<br />
Lakeland College<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
4<br />
MANDATE<br />
Lakeland College is a board-governed<br />
public college operating under<br />
authority of the Post-secondary<br />
Learning Act of Alberta. The College<br />
has campuses in Lloydminster and<br />
Vermilion and serves communities in<br />
Alberta and Saskatchewan.<br />
The College awards certificates,<br />
diplomas, applied degrees, and<br />
baccalaureate degrees designed<br />
to meet the needs of both learners<br />
and the communities served by the<br />
College. Lakeland College programs<br />
offer learning opportunities in<br />
academic upgrading, agriculture<br />
and the environment, business, fire<br />
and public safety, health and human<br />
services, tourism, apprenticeship and<br />
technology, and university transfer.<br />
Lakeland offers continuing education<br />
credit and non-credit programs and<br />
courses as an extension of mandated<br />
programs, performing arts courses<br />
and individual instruction through the<br />
Conservatory of Music and Drama, and<br />
customized workforce development<br />
training for business and industry in<br />
Alberta, Canada and internationally.<br />
Through a unique partnership<br />
agreement between the Alberta<br />
and Saskatchewan governments,<br />
Lakeland College provides training<br />
and educational opportunities for<br />
Saskatchewan residents. Adult<br />
basic education and career training<br />
are provided under an Alberta/<br />
Saskatchewan Memorandum of<br />
Agreement.<br />
The fire emergency training centre<br />
(fire etc.) offers integrated emergency<br />
response training at the provincial,<br />
national, and international levels,<br />
including firefighter, disaster<br />
management, risk management, loss<br />
prevention, and emergency services<br />
training. Through a partnership<br />
agreement, fire etc. administers<br />
accreditation for municipal fire<br />
service training in the Province of<br />
Alberta, on behalf of the Alberta Fire<br />
Commissioner.<br />
Lakeland College demonstrates its<br />
commitment to partnerships by<br />
working cooperatively with community<br />
organizations, business and industry,<br />
and other educational institutions.<br />
The College promotes community<br />
economic development by providing<br />
workforce training and development,<br />
and conducting or sponsoring applied<br />
research. The College actively pursues<br />
applied research and innovation<br />
activities that complement teaching<br />
and learning, and advance innovationbased<br />
rural community economic<br />
development. The focus of applied<br />
research is primarily in the agriculture,<br />
environment, petroleum, emergency<br />
services, and manufacturing sectors.<br />
The College extends its services not<br />
only to our learners, but also to the<br />
communities served. Our facilities are<br />
both specialized and unique, including<br />
the Strathcona County Learning Centre,<br />
two community theatres, a studentmanaged<br />
farm, and a comprehensive<br />
fire school. The residential campuses<br />
in Vermilion and Lloydminster offer<br />
environments that help learners realize<br />
their individual potential by providing<br />
a safe, people-centered learning<br />
environment. The College supports<br />
the cultural fabric of the communities<br />
served by facilitating college athletics,<br />
offering recreation fitness and leisure<br />
activities, providing conference and<br />
daycare services, and promoting the<br />
performing arts.<br />
Lakeland College is committed<br />
to maximizing learner access to<br />
high-quality and affordable lifelong<br />
learning opportunities that respond<br />
to the diverse needs of learners,<br />
communities, cultures and traditions.<br />
Lakeland’s commitment to the<br />
collaborative principles of Campus<br />
Alberta is demonstrated through<br />
partnerships within the postsecondary<br />
system that strengthen our<br />
programming and service capacity.<br />
Approved by<br />
Minister of Advanced Education<br />
June 5, 2006<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
5<br />
Year in Review<br />
Student success<br />
The winning trend continued for<br />
interior design technology students.<br />
Second-year student Pamela<br />
Ollenberger won a national charette<br />
competition hosted by the National<br />
Kitchen and Bath Association (NKBA).<br />
This is the fifth consecutive year an<br />
interior design technology student has<br />
placed in the top three in a national or<br />
international competition. Ollenberger<br />
traveled to Chicago in April to receive<br />
her $5,000 first place prize at the<br />
NKBA national show and conference.<br />
The third time was the charm<br />
for Lakeland business students.<br />
Competing in the third annual Alberta<br />
Deans of Business Case Competition,<br />
business students Lacey Hauck,<br />
Kristine Alexander, Peggy Lovell and<br />
Lindsay Nuspl placed second in the 11<br />
team competition. It was the first time<br />
a Lakeland team reached the podium<br />
in the competition. Sponsored by<br />
Common Wealth Credit Union’s Young<br />
and Free program, Team Lakeland<br />
analyzed and presented a case on<br />
the sustainability of Jamie Kennedy<br />
Kitchens based in Toronto, Ont.<br />
Garrett Trayhorne received the 2007<br />
Top Apprentice award for the parts<br />
technician trade during the Alberta<br />
Apprenticeship and Industry Training<br />
Board Awards in February. Top<br />
Apprentice awards are presented to<br />
people who have the highest overall<br />
marks in their final period of training<br />
and receive a strong recommendation<br />
from their employer.<br />
Trades alumnus Karl Kitt placed first<br />
at the Alberta Skills Competition<br />
in May. He competed in the heavy<br />
equipment technician competition. The<br />
two-day competition featured seven<br />
75-minute tasks including engine tuneup,<br />
electrical system diagnosis and<br />
repair, precision measuring and parts<br />
identification. Kitt completed his final<br />
apprenticeship technical training period<br />
at Lakeland in the spring.<br />
For the first time in the history of<br />
Rustlers Athletics, a team advanced<br />
to the Canadian Colleges Athletic<br />
Association national championship.<br />
The men’s basketball team competed<br />
in the finals in Champlain College<br />
in Quebec and finished sixth in the<br />
nation. Rustler guard Nathan Dixon<br />
was named to the second all-star<br />
team at nationals. After the finals,<br />
bench boss Phil Allen announced his<br />
retirement from coaching. He retires<br />
with 805 victories and the record<br />
for most wins by a Canadian postsecondary<br />
basketball coach. In 26<br />
years of coaching, Allen missed the<br />
post-season only twice.<br />
The curling team continues to slide<br />
into the medals at the Alberta Colleges<br />
Athletic Conference championships.<br />
For the second consecutive year, the<br />
men’s team won the gold medal final.<br />
The Rustlers also received numerous<br />
first team all-star selections.<br />
In other curling news, two Lakeland<br />
alumni are now world champions.<br />
John Morris and Ben Hebert won the<br />
2008 World championship with Alberta<br />
teammates Kevin Martin and Marc<br />
Kennedy. Morris and Hebert completed<br />
the firefighter program at fire etc.,<br />
Lakeland’s emergency training centre.<br />
Community connections<br />
The School of Agricultural and<br />
Environmental Sciences continued<br />
working with Alberta Tourism, Parks,<br />
Recreation and Culture to conduct<br />
applied research and educational<br />
activities. Wildlife and fisheries<br />
conservation and conservation and<br />
restoration ecology students installed<br />
four motion-activated remote cameras<br />
to record activity at the Vermilion<br />
Provincial Park. The weather resistant<br />
cameras take high resolution colour<br />
pictures during the day and infra-red<br />
photographs at night. Details such<br />
as date, time and temperature are<br />
recorded on each image. “The images<br />
will help determine the type and<br />
abundance of wildlife in the park,” said<br />
instructor Darcey Shyry.<br />
As part of their second-year<br />
community nursing course,<br />
practical nurse students visited on<br />
a weekly basis residents at the Dr.<br />
Hemstock Assisted Living complex in<br />
Lloydminster. Esthetician students also<br />
visited the Dr. Hemstock and other<br />
facilities to give residents manicures<br />
and pedicures.<br />
About 25 high school students from<br />
local schools attended Lakeland’s<br />
first Skills Competition. Organized<br />
by the School of Trades and<br />
Technology, competition categories<br />
were automotive service technician,<br />
carpenter, electrician and welding.<br />
Reading usually provides its own<br />
reward, but Lakeland gave a few extra<br />
incentives for elementary school<br />
students in the Lloydminster Public<br />
School Division to pick up a book.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
6<br />
In partnership with Cheers Restaurant,<br />
Lloydminster Public School Division<br />
and Newcap Broadcasting, the<br />
athletics department launched the<br />
Rustlers Reading Club. Volleyball<br />
and basketball players from Lakeland<br />
visited Lloydminster elementary<br />
schools once a week to read to<br />
children and encourage them to read<br />
books at home. Children who logged<br />
more than six hours of reading in six<br />
weeks got into basketball games for<br />
free and received a pizza from Cheers<br />
Restaurant.<br />
The Rustlers name is no longer only<br />
associated with Lakeland teams.<br />
Thanks to an agreement with the<br />
Meridian Youth Soccer Association,<br />
Rustlers FC is now the name of the<br />
competitive indoor and outdoor soccer<br />
teams in Lloydminster. Lakeland plans<br />
to submit a proposal during the 2008-<br />
09 year to Alberta Colleges Athletic<br />
Conference for entry of both a men’s<br />
and women’s outdoor soccer team into<br />
the league.<br />
A belief that “a person should give<br />
back if they’re able to” prompted<br />
Robert Huff to donate $1 million<br />
to organizations in 2007, including<br />
a $75,000 donation to agricultural<br />
sciences at Lakeland. Huff had no<br />
direct ties with Lakeland, but was<br />
familiar with the post-secondary<br />
institution thanks in part to visits to<br />
the Vermilion Agricultural Society Fair.<br />
“There’s always room for innovation<br />
and improvement in agriculture and<br />
through the college, I’ll be able to<br />
help the next generation of leaders in<br />
this industry,” he said. In recognition<br />
of his contribution, Huff was named<br />
an honorary member of the Alumni<br />
Association.<br />
ANNUAL REPORT 2007-08<br />
About 20 Lakeland employees rolled<br />
up their sleeves in the spring to help<br />
build a Habitat for Humanity home<br />
in Lloydminster. Tasks tackled were<br />
electrical and plumbing work, installing<br />
doors, windows and insulation, adding<br />
siding and landscaping the property.<br />
In May staff members Lawrence Hess,<br />
Peter Walsh and Dr. Jason Dewling<br />
traveled to the Dominican Republic to<br />
help with a Habitat for Humanity Global<br />
Village project. Meagan Szatkowski, a<br />
second-year student in the child and<br />
youth care program, also signed up for<br />
the one-week project at San Francisco<br />
de Marcos.<br />
Lakeland was a proud sponsor of<br />
the First Annual Riverland Adventure<br />
Challenge in May. Second-year<br />
adventure tourism and outdoor<br />
recreation students helped plan the<br />
event which featured canoeing on the<br />
North Saskatchewan River from Fort<br />
George and Buckingham House to<br />
Lindberg, running to Iron Horse Trail<br />
and biking the trail back to the forts.<br />
More than 80 people participated in the<br />
event including one person from New<br />
Zealand.<br />
Happy host<br />
Lakeland welcomed 200 people from<br />
throughout Canada to its Vermilion<br />
campus in October for the Canadian<br />
Rural Revitalization Foundation<br />
conference. Saskatchewan residents<br />
traveled to the Lloydminster campus<br />
in May to attend the Saskatchewan<br />
Regional Colleges Conference. Keynote<br />
speakers were Olympians Beckie Scott<br />
(cross-country skiing) and Amy Nixon<br />
(curling).<br />
Infrastructure investment<br />
It was a busy year for Facilities<br />
and Services staff. At the Vermilion<br />
campus, the Trades Centre was<br />
renovated to accommodate more<br />
apprenticeship students, the Cattle<br />
and Sheep Facility was completed, and<br />
renovations started in two residence<br />
buildings. Construction of the Bill<br />
Kondro Wing reached substantial<br />
completion at the Lloydminster<br />
campus.<br />
Programming points<br />
Event coordinator, massage therapy<br />
and pharmacy technician – retail<br />
programs will continue at Lakeland<br />
despite the June 30 closure of the<br />
Strathcona County Learning Centre.<br />
The programs will be offered at the<br />
Lloydminster campus.<br />
Lakeland announced a sign language<br />
interpretation diploma program will be<br />
offered in September 2008. It will be<br />
the only such diploma in the province<br />
and should help reduce the shortage<br />
of qualified interpreters in Alberta.<br />
The program will be offered at the<br />
University of Alberta campus. It’s the<br />
first time the university has hosted<br />
another institution’s program on its<br />
campus. Lakeland is also working with<br />
the University of Calgary to offer the<br />
university’s after-degree bachelor of<br />
education master of teaching program.<br />
The first cohort will start full-time<br />
classes at the Lloydminster campus in<br />
September 2009.<br />
A new online program in renewable<br />
energy and conservation got the<br />
green light from Alberta Advanced<br />
Education and Technology. It will begin<br />
in October 2008 and features a flexible<br />
format so students may take courses<br />
on a part-time basis.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
Lakeland and Parkland Regional<br />
College in Saskatchewan publicized<br />
plans to offer fire etc.’s firefighting<br />
training program in Melville. The first<br />
cohort will start classes in August<br />
2008. Students will travel to the<br />
Vermilion campus for two weeks of<br />
practical and specialized training at<br />
Lakeland’s training field.<br />
Opportunities for Lakeland students<br />
to transfer their certificate or diploma<br />
onto further education continue to<br />
increase. Graduates of environmental<br />
protection technology, conservation<br />
and restoration ecology, and<br />
environmental conservation and<br />
reclamation can transfer credits<br />
towards a bachelor of sciences in<br />
agriculture degree thanks to a new<br />
agreement with the University of<br />
Saskatchewan.<br />
Employee excellence<br />
A focus on celebrating best practices<br />
and rewarding achievements of<br />
Lakeland employees was evident<br />
with the establishment of Green ‘n’<br />
Gold Awards. Employees nominated<br />
co-workers for accomplishments<br />
in customer service, health and/<br />
or safety, innovation, leadership<br />
and performance excellence. Five<br />
employees were presented with<br />
the prestigious awards during the<br />
Employee Recognition and Retirement<br />
Awards ceremony. Recipients were<br />
Jim Baker (customer service),<br />
Laura Buchynski (health and/<br />
or safety), Al Motley (innovation),<br />
Jim Zuk (leadership) and Angela<br />
Wilm (performance excellence). Al<br />
Motley also received an Innovation<br />
of the Year award from League, an<br />
international organization serving<br />
community colleges. The instructor<br />
was recognized for creating software<br />
manuals with information and<br />
examples relevant to Lakeland<br />
students.<br />
For its incorporation of humane<br />
animal care practices as part of<br />
its core curriculum in agricultural<br />
sciences, the School of Agricultural<br />
and Environmental Sciences received<br />
the Award of Distinction for Industry<br />
Leadership from Alberta Farm Animal<br />
Care (AFAC). Lakeland introduced its<br />
first animal handling course in 1996.<br />
AFAC is a partnership of Alberta’s<br />
major livestock groups with a mandate<br />
to promote responsible, humane<br />
animal care within the livestock<br />
industry.<br />
7<br />
Our MISSION To inspire our learners to realize their individual potential.<br />
Our VISION To achieve educational excellence in a people-centred environment.<br />
Our VALUES are Respect, Safety, Trust, Pride, Ethics, Quality and Accountability.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
8<br />
Operational Overview<br />
Board of Governors<br />
(as of June 30, 2008)<br />
Doug Elliott<br />
- chairman of the board<br />
Bob Mottram<br />
- vice-chairman, public member<br />
Dr. Lee Arthur - faculty member<br />
Glenn Charlesworth<br />
- president & chief executive officer<br />
Stan Fisher - public member<br />
Terry Gunderson - public member<br />
Mary Holtby<br />
- public member for Saskatchewan<br />
Sean Kingston<br />
- non-academic member<br />
Susan Long - public member<br />
Cody Renz - student member<br />
Craig Solberg - public member<br />
Brian Wittmack - public member<br />
Opportunities<br />
In its 2007-11 Business Plan, Lakeland<br />
forecasted a modest surplus of<br />
$641,503 for the 2007-08 year. Thanks<br />
to emphasis on controlling costs and<br />
increasing revenue streams, Lakeland<br />
recorded a budget surplus of $4.4<br />
million and started modernization<br />
of two Vermilion campus residence<br />
buildings rather than one as originally<br />
planned. In previous business plans<br />
Lakeland indicated the nine residence<br />
buildings built in 1983 at the Vermilion<br />
campus need renovations. Students<br />
are quick to agree. In the 2007-08<br />
student satisfaction survey, students<br />
said they are not satisfied with<br />
residence buildings.<br />
In the business plan Lakeland also<br />
recommended replacing The Shack<br />
(the current student centre) and the<br />
Mead Building at the Vermilion campus<br />
by adding two floors to the Bentley<br />
Building. Plans changed and thanks<br />
to the generosity of current and past<br />
students, Lakeland now intends to<br />
build a student centre where The Shack<br />
is located. The Vermilion Students’<br />
Association (SA) and Lakeland<br />
signed a letter of understanding that<br />
will see the SA contribute $400,000<br />
towards a new student centre. The<br />
money will come from The Future<br />
Fund, an account established in the<br />
1970s to hold a portion of student<br />
fees designated for a student centre.<br />
During the spring SA election, students<br />
were asked if they wanted the money<br />
contributed to a student centre. The<br />
answer was a resounding yes with<br />
94 per cent of voters in favour of the<br />
project.<br />
Challenges<br />
With rising building costs throughout<br />
Alberta, Lakeland’s construction cost<br />
for the Bill Kondro Wing and Cattle<br />
and Sheep Facility were higher than<br />
originally estimated. The Government<br />
of Alberta provided additional capital<br />
funding for the projects, ensuring<br />
Lakeland didn’t have to cover the<br />
costs from reserves which would have<br />
crippled facilities, capital equipment<br />
and technology budgets for the<br />
remainder of the decade.<br />
On a related note, Lakeland had<br />
difficulty recruiting faculty to teach<br />
the increased number of students<br />
in apprenticeship programs. Alberta<br />
enjoyed a vibrant economy during<br />
2007-08 and few people working in<br />
trades were interested in leaving the<br />
often lucrative private sector.<br />
Lakeland officials set a goal for the<br />
campuses to be wireless by June 30.<br />
The availability of contractors and<br />
issues related to servers and network<br />
security delayed the project and as a<br />
result the deadline was not met.<br />
Advanced Education and Technology<br />
released the new Roles and Mandates<br />
Policy Framework which classified<br />
institutions into six different sectors.<br />
Lakeland is a Comprehensive<br />
Community Institution (CCI). Each CCI<br />
is responsible for a defined geographic<br />
region but Lakeland’s boundary<br />
to the west and north are not yet<br />
finalized. Discussions to resolve this<br />
are ongoing. Lakeland is attempting<br />
to develop a strategy to best serve<br />
the regional area in a cost effective<br />
manner. It is known that additional<br />
costs will be incurred to meet the<br />
requirements of the new mandate.<br />
The Strathcona County Learning<br />
Centre was closed at the end of the<br />
2007-08 year. Lakeland will focus its<br />
programming in east central Alberta<br />
to complement Alberta’s collaborative<br />
post-secondary system rather than<br />
compete with other colleges and<br />
institutions in the capital region.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
9<br />
Core programs<br />
The following programs were offered<br />
by Lakeland during the 2007-08<br />
academic year. Programs with an<br />
asterisk are not included in the FLE<br />
count.<br />
Adult development programs<br />
Academic upgrading<br />
Transitional vocational<br />
Applied degree programs<br />
Bachelor of applied financial services<br />
Bachelor of applied business:<br />
emergency services<br />
Bachelor of applied science:<br />
environmental management<br />
Apprenticeship technical training<br />
Automotive service technician<br />
Carpenter<br />
Electrician<br />
Heavy equipment technician<br />
Instrument technician - period one (new)<br />
Parts technician<br />
Steamfitter-pipefitter - period one (new)<br />
Welder<br />
Certificate and diploma programs<br />
Accounting technician (new)<br />
Adventure tourism<br />
and outdoor recreation<br />
Advanced business administration<br />
Agribusiness<br />
Agro-environmental technology<br />
Animal health technology<br />
Animal science technology<br />
Appraisal and assessment<br />
Business administration<br />
Child and youth care<br />
Conservation and restoration ecology<br />
Crop technology<br />
Dairy production<br />
Disability studies<br />
Early learning and child care<br />
(certificate and diploma)<br />
Educational assistant<br />
Emergency services technology<br />
Employment skills enhancement<br />
Environmental conservation<br />
and reclamation<br />
Environmental protection technology<br />
Esthetician<br />
*Event coordinator<br />
Financial services<br />
Firefighter (NFPA 1001)<br />
General agriculture<br />
Health care aide<br />
Heavy oil operations technician<br />
Human resource management<br />
*Hunting and fishing guide<br />
Interior design technology<br />
Livestock production<br />
Management<br />
Management development<br />
Massage therapy<br />
Office administration<br />
*Petroleum operator technician<br />
Petroleum industry supervisor (new)<br />
Pharmacy technician – retail<br />
Practical nurse<br />
Professional accounting<br />
Ranch and feedlot rider<br />
Wildlife and fisheries conservation<br />
University studies<br />
Popular transfer routes include:<br />
• Arts<br />
• Commerce<br />
• Education<br />
• Science<br />
• Social work<br />
• Pre-dentistry<br />
• Pre-law<br />
• Pre-medicine<br />
• Pre-pharmacy<br />
• Pre-veterinary medicine<br />
Credit continuing education<br />
Emergency medical responder<br />
Fourth class power engineering<br />
Gas process operator<br />
Pesticides<br />
Pesticides dispenser<br />
Sign language and deaf studies<br />
Credit general studies<br />
Firefighting and emergency<br />
services training<br />
General skills training<br />
Short or part-time non-credit<br />
*AutoCad operator<br />
*Residential decorating<br />
*Computer essentials<br />
Non-credit<br />
Open studies – leisure and interest<br />
Collaborative degree programs<br />
Athabasca University<br />
*Bachelor of commerce<br />
*Bachelor of management<br />
*Bachelor of general studies<br />
– applied studies<br />
Cape Breton University<br />
*Master of business administration<br />
(community economic development)<br />
University of Calgary<br />
*Bachelor of social work<br />
*Master of education<br />
(educational leadership)<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
10<br />
enrolment<br />
Credit full-load equivalents (FLEs)<br />
3000<br />
Credit student total headcount<br />
10000<br />
Number of students<br />
2000<br />
1000<br />
Year<br />
1,938 1,778 1,928<br />
2005-06 2006-07 2007-08<br />
Number of students<br />
8000<br />
6000<br />
4000<br />
7,414<br />
6,867<br />
8,072<br />
Credit student full-time headcount<br />
Number of students<br />
3000<br />
2000<br />
1000<br />
2,754 2,692<br />
2,881<br />
Year 2005-06 2006-07 2007-08<br />
Credit student part-time headcount<br />
6000<br />
5,191<br />
5000<br />
4,660<br />
Number of students<br />
4,175<br />
4000<br />
3000<br />
2000<br />
1000<br />
Year 2005-06 2006-07 2007-08<br />
2000<br />
Year<br />
Three-year comparison of FLEs<br />
Campus 2005-06 2006-07 2007-08<br />
Strathcona 45.467 31.852 52.376<br />
Lloydminster 578.938 490.949 468.202<br />
Vermilion 1,313.729 1,255.400 1,407.419<br />
Total 1,938.134 1,778.201 1,927.997<br />
FLEs by credential<br />
2005-06 2006-07 2007-08<br />
2005-06 2006-07 2007-08<br />
Diploma and<br />
post basic diploma 760.414 670.547 654.982<br />
Apprenticeship 209.286 241.729 313.163<br />
University studies/<br />
applied degree 276.405 256.756 270.108<br />
Career certificate 506.248 377.626 378.668<br />
No credential/<br />
not applicable 185.781 231.543 311.076<br />
Total 1,938.134 1,778.201 1,927.997<br />
Age distribution<br />
of full-time students<br />
Ages 2005-06 2006-07 2007-08<br />
17-19 25.6% 28.1% 27%<br />
20-24 40.3% 38.5% 38.7%<br />
25+ 34.1% 33.4% 34.3%<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
Geographic representation<br />
of full-time students<br />
Alberta 64.8%<br />
Saskatchewan 27.1%<br />
Other Provinces 7.7%<br />
Other Countries 0.1%<br />
Unknown .3%<br />
Geographic representation<br />
of full and part-time students<br />
Alberta 75.9%<br />
Saskatchewan 14.6%<br />
Other Provinces 6.7%<br />
Other Countries 0.1%<br />
Unknown 2.7%<br />
Facilities<br />
Construction of the Bill Kondro Wing<br />
reached substantial completion at the<br />
Lloydminster campus with only site<br />
work and deficiencies to be completed<br />
in 2008-09. As of June 30, about $9<br />
million was spent on the project. At the<br />
Vermilion campus, renovations of two<br />
residence buildings began in the spring<br />
and by June 30 about $715,000 was<br />
spent. Both projects will be completed<br />
during the 2008-09 fiscal year.<br />
Vermilion campus<br />
Site area: 204.9 hectares<br />
Building area: 49,504.7 sq. m<br />
(non-residential)<br />
Off site: 9.3 hectares<br />
Agricultural land: 62.86 hectares<br />
Residence accommodation:<br />
Single beds - 544; family units - 17<br />
Major projects<br />
• Completion of Cattle and Sheep<br />
Facility<br />
• Completion of pilot study to<br />
determine best water treatment<br />
system for fire etc.’s training field<br />
• Built additional classrooms, offices,<br />
and welding space in Trades Centre<br />
• Added new office and classroom<br />
spaces in Applied Engineering<br />
building<br />
• Started renovations to Zeta and<br />
Gamma residence buildings<br />
• Replaced roofing in Trades Centre,<br />
Horticultural Building, Service Centre<br />
and Mead Building<br />
Lloydminster campus<br />
Site area: 26.70 hectares<br />
Building area: 16,194 sq. m<br />
(non-residential)<br />
Residence accommodation:<br />
Single beds – 256; family units – 48<br />
Major Projects:<br />
• Reached substantial completion of<br />
the Bill Kondro Wing in June<br />
• Replaced flooring in the cafeteria,<br />
recoated gymnasium floor and<br />
replaced three sections of roofing<br />
• Changed lighting in the corridor,<br />
gymnasium and the cafeteria from<br />
metal halide to energy efficient<br />
fluorescent<br />
• Started installation of security CCTV<br />
and key card access system<br />
Strathcona County learning centre<br />
Building area: 1,854 sq. m (leased)<br />
Staffing<br />
During 2007-08, the average number<br />
of employees at Lakeland each month<br />
was 582. This includes full-time, parttime,<br />
temporary, sessional, casual,<br />
student, government sponsored and<br />
contract employees.<br />
Permanent and continuing staff<br />
Administration<br />
2006-07: 47 full-time<br />
2007-08: 48 full-time<br />
Faculty<br />
2006-07: 102 full-time, 5 part-time<br />
or reduced time<br />
2007-08: 109 full-time, 5 part-time<br />
or reduced time<br />
AUPE<br />
2006-07: 157 full-time, 7 part-time<br />
2007-08: 160 full-time, 9 part-time<br />
Tuition fees<br />
For 2007-08 the average tuition fee<br />
was $3,800. In accordance with the<br />
Government of Alberta’s tuition fee<br />
policy, Lakeland’s tuition fee revenue<br />
as a percentage of net operating<br />
expenditures was 18.36 per cent.<br />
11<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
12<br />
Performance Review<br />
Balanced Scorecard<br />
In Lakeland’s 2004-08 business plan,<br />
the balanced scorecard was introduced<br />
as a more responsive way to measure<br />
institutional success. Following is a<br />
summary of Lakeland’s performance<br />
during 2007-08 in meeting its 17<br />
objectives.<br />
Responsive<br />
We will be seen as providing the right<br />
service to the right person at the right<br />
time and at the right price for all of<br />
Lakeland’s customers. We will be seen<br />
as providing service excellence. We<br />
will be seen as being responsive to<br />
individual needs.<br />
Highlights<br />
• Twice a week letters and viewbooks<br />
are sent to people who inquire about<br />
a core program and decision letters<br />
are sent to applicants. In 2006-07<br />
this information was mailed once a<br />
week.<br />
• Financial aid services are available<br />
on both campuses. Staff members<br />
respond to students upon contact<br />
and follow-up within two working<br />
days. In 2006-07 a response was<br />
expected within five working days.<br />
• Following discussions with<br />
Apprenticeship and Industry<br />
Training, Lakeland offered 1,384<br />
apprenticeship technical training<br />
seats, an increase from the previous<br />
year of 500 seats. Of this total, 260<br />
extra spots were for welding to help<br />
Apprenticeship and Industry Training<br />
accommodate the increase of welder<br />
apprentices in Alberta. Lakeland<br />
managed the increase by offering<br />
three lab periods per day rather than<br />
two. During the year 1,178 of the<br />
seats were filled.<br />
• FLEs increased by 8.4 per cent.<br />
• The length of time to provide results<br />
for fire etc. distance learning students<br />
continues to be reduced.<br />
• University studies announced it<br />
will expand its course offerings to<br />
include Beginner’s French I and II,<br />
Intermediate French I and II, two first<br />
year physics classes and new classes<br />
in the areas of physical education,<br />
psychology, sociology and art history.<br />
Enable success<br />
We will be seen as facilitating learners’<br />
opportunities to grow and develop. We<br />
will be seen as providing high quality<br />
learning environments where our<br />
learners are inspired to be their best.<br />
Highlights<br />
• Trades alumnus Karl Kitt placed first<br />
in the heavy equipment technician<br />
category at the Alberta Skills<br />
Competition in May.<br />
• Team Lakeland placed second in<br />
the Alberta Deans of Business Case<br />
Competition.<br />
• Pamela Ollenberger, a second year<br />
interior design technology student,<br />
won a national charette competition<br />
hosted by the National Kitchen and<br />
Bath Association (NKBA).<br />
• Garrett Trayhorne won the Alberta<br />
Apprenticeship and Industry Training<br />
Board’s 2007 Top Apprentice award<br />
for the parts technician trade.<br />
• More than 400 graduates from<br />
Lakeland’s Class of 2006 were polled<br />
for the Graduate Satisfaction Survey.<br />
- 95.8 per cent recommend<br />
Lakeland to others.<br />
- 93.3 per cent of students<br />
reported an overall positive<br />
educational experience at<br />
Lakeland.<br />
- 90.3 per cent were satisfied with<br />
the quality of teaching within<br />
their program.<br />
- 90.8 per cent recommend their<br />
program to others.<br />
- 86.7 per cent said their program<br />
was worth the financial cost.<br />
Good value<br />
We will be seen as providing a good<br />
return on investment for all of our<br />
customers.<br />
Highlights<br />
• Cost per FLE was $19,376, an<br />
increase of $1,747 from the previous<br />
year.<br />
• Average tuition fee was $3,800.<br />
• Alberta Association of Colleges and<br />
Technical Institutes released a study<br />
in 2007 on the economic impact of<br />
Lakeland College. A similar study<br />
was released in 2003. Among the<br />
findings:<br />
- Lakeland returns $3.40 for<br />
every dollar of taxpayer financial<br />
support.<br />
- For every $1 students invest in a<br />
Lakeland education, they receive<br />
a cumulative of $4.60 in higher<br />
future earnings, compared to<br />
$3.59 in 2003.<br />
- About $165 million is generated<br />
into the east central Alberta<br />
economy by Lakeland through<br />
purchases, wages paid to<br />
employees, student spending,<br />
and through a human capital<br />
effect stemming from an increase<br />
in the skill base of the workforce.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
Quality programs and people<br />
We will be seen as the employer of<br />
choice, the institution of choice and<br />
offering programs of choice.<br />
Highlights<br />
• Alberta Colleges and Institutes<br />
Faculties Association (ACIFA)<br />
conducts a survey annually<br />
of its members to obtain their<br />
views on working conditions and<br />
attitudes within their institutions.<br />
Respondents were asked to rate<br />
their level of agreement with 13<br />
statements on a scale of 1 to 5 with<br />
5 indicating strong agreement. The<br />
level of agreement among Lakeland<br />
respondents was higher than the<br />
ACIFA provincial average in all 13 of<br />
the statements as compared to 12 of<br />
the 13 statements the previous year.<br />
• Approximately 6,500 Alberta<br />
municipal firefighters accessed<br />
training from fire etc.<br />
• More than 400 graduates from<br />
Lakeland’s Class of 2006 were polled<br />
for the Graduate Satisfaction Survey.<br />
- 95.8 per cent recommend<br />
Lakeland to others.<br />
- 93.3 per cent of students<br />
reported an overall positive<br />
educational experience at<br />
Lakeland.<br />
- 90.8 per cent recommend their<br />
program to others.<br />
Pathways<br />
We will be seen as providing learners<br />
a variety of educational pathways to<br />
success.<br />
• Website pages for all full-time<br />
programs contain information on<br />
opportunities for further study not<br />
only at Lakeland but at other colleges<br />
and universities.<br />
• Graduates of more than 20 certificate<br />
and diploma programs at Lakeland<br />
can transfer up to 60 credits towards<br />
applied and baccalaureate degrees.<br />
• The School of Arts, Science,<br />
Business and Academic Services<br />
partnered with Alberta Association<br />
for Community Living to provide<br />
inclusive post-secondary education<br />
to two students.<br />
• Special needs facilitators from The<br />
Learning Centre completed four of six<br />
weeks of onsite Assistive Technology<br />
(AT) training at the University of<br />
Alberta. With this training the special<br />
needs facilitators will be able to help<br />
students appropriately use the AT<br />
equipment.<br />
Strategic management<br />
We will excel at developing timely<br />
business plans consistent with the<br />
overall College strategy. We will<br />
excel at conducting regular strategic<br />
planning sessions. We will excel at<br />
making strategy a part of everyone’s<br />
everyday job.<br />
Highlights<br />
• The Board of Governors adopted a<br />
new strategic plan in February. Future<br />
Directions – A Road Map Towards<br />
Our Next Century contains six goals<br />
which Lakeland will work towards<br />
achieving by 2013. Development of<br />
the strategic plan began in March<br />
2007. Approximately 300 staff,<br />
students, business and community<br />
members participated in focus<br />
groups in Vermilion, Lloydminster<br />
and Wainwright.<br />
• A Strategic Planning Action<br />
Committee (SPAC) comprised of<br />
about 35 Lakeland employees was<br />
created in May. Members were<br />
divided into six groups with each<br />
group responsible for a strategic plan<br />
goal. The SPAC will meet quarterly<br />
to review progress made towards<br />
achieving the goals.<br />
Marketing<br />
We (all staff) take pride in and<br />
responsibility for positively promoting<br />
Lakeland College. We will excel at<br />
conducting market research. We<br />
will excel at creating the Lakeland<br />
College brand and its position in the<br />
marketplace.<br />
13<br />
Highlights<br />
• The conversion rate of applicants<br />
to enrolled students in traditional<br />
programming for 2007-08 was 54.9<br />
per cent, an improvement from 50.2<br />
per cent the previous year.<br />
• There were 743 graduates in<br />
certificate, diploma and applied<br />
degree programs, 58 more than<br />
2006-07. Ten people successfully<br />
completed transitional vocational<br />
and employment skills enhancement<br />
programs. There were 423 graduates<br />
of programs not included in the<br />
Learner and Enrolment Reporting<br />
System, a decrease of 30 students<br />
from the previous year.<br />
• Lakeland has 10,881 active alumni<br />
including one lady who is 101-yearsold.<br />
The Alumni Office helps alumni<br />
stay connected with each other and<br />
Lakeland through avenues such as<br />
alumni visits, Lakeland website, The<br />
Link (weekly newsletter), Alumni<br />
Pride magazine and Facebook.<br />
Average yearly attendance at alumni<br />
events are: Homecoming – 400 to<br />
450 people; Edmonton Spring Social<br />
– 70 to 90 people; Canadian Finals<br />
Rodeo – 50 to 60 people; Tofield Golf<br />
Tournament – 30 to 40 people.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
14<br />
• The Marketing and Enrolment<br />
Management department continued<br />
working with representatives from<br />
Noel-Levitz to improve enrolment<br />
management practices at Lakeland.<br />
Students, graduates, prospects,<br />
parents, high school guidance<br />
counsellors, faculty and staff were<br />
surveyed during the year. One<br />
hundred former university studies<br />
students were surveyed about<br />
their Lakeland experience, further<br />
education and transfer outcomes.<br />
Lakeland’s communications<br />
department began developing<br />
marketing messages based on<br />
information from the surveys.<br />
• Lakeland created an Academic<br />
Excellence Scholarship program to<br />
attract more students into business<br />
programs and university studies.<br />
Students with an average of 85 to<br />
100 per cent automatically qualify for<br />
a scholarship ranging from $1,500 to<br />
$3,500.<br />
• To encourage prospective students to<br />
visit Lakeland, tuition credits are now<br />
provided to people who travel more<br />
than 100 km one way from their<br />
home to Lakeland.<br />
• A number of internal seminars and<br />
workshops were held to enhance<br />
student recruitment. About 250<br />
administrative and support staff<br />
participated in a seminar on providing<br />
quality service to students and 72<br />
faculty attended a workshop about<br />
the role of faculty in recruitment<br />
and student success. More than<br />
100 employees attended one of two<br />
workshops to learn about millennial<br />
students and their attitudes,<br />
expectations and communication<br />
styles.<br />
• Each student in an agricultural<br />
sciences, environmental sciences<br />
or human services program was<br />
assigned an academic mentor.<br />
• Agricultural sciences formalized a<br />
retention strategy that includes early<br />
identification of struggling students.<br />
Renewal and evaluation<br />
We will excel at developing the College<br />
and improving performance through<br />
program review, process review and<br />
personnel review.<br />
Highlights<br />
• Office administration, disability<br />
studies, financial services and<br />
bachelor of applied financial services<br />
were comprehensively reviewed.<br />
Enrolment targets were set for three<br />
of the four programs and disability<br />
studies will utilize the open studies<br />
concept for growth. With open<br />
studies, students can develop skills<br />
useful to their profession, upgrade<br />
their post-secondary qualifications,<br />
and/or take credit courses strictly for<br />
personal interest.<br />
• Every program is internally reviewed<br />
annually.<br />
Advocacy and<br />
government relations<br />
We will excel at managing government<br />
relations and general advocacy.<br />
Highlights<br />
• Number of visits with MLAs, mayors<br />
or other senior government officials:<br />
Board Chairman Doug Elliott – about<br />
22; President Glenn Charlesworth<br />
- about 33. They, as well as board<br />
members and College executive team<br />
members, also attended events such<br />
as Chamber of Commerce luncheons,<br />
service club meetings, and golf<br />
tournaments where they could meet<br />
with community and provincial<br />
influencers.<br />
Human resource processes<br />
We will excel at HR processes that<br />
create an environment that will enable<br />
Lakeland College to attract, recruit<br />
and retain the best talent available. We<br />
will excel at creating and maintaining<br />
a comprehensive human resource<br />
strategy.<br />
Highlights<br />
• Alberta Colleges and Institutes<br />
Faculties Association (ACIFA)<br />
conducts a survey annually of its<br />
members to obtain their views on<br />
working conditions and attitudes<br />
within their institutions. Respondents<br />
were asked to rate their level of<br />
agreement with 13 statements on<br />
a scale of 1 to 5 with 5 indicating<br />
strong agreement. The level<br />
of agreement among Lakeland<br />
respondents was higher than the<br />
ACIFA provincial average in all 13 of<br />
the statements as compared to 12 of<br />
the 13 statements the previous year.<br />
• A staff climate survey is conducted<br />
regularly to measure progress on<br />
this objective. The next survey is<br />
expected to be done in 2008-09.<br />
Resource allocation<br />
We will excel at strategic resource<br />
allocation.<br />
• Nothing to report at this time.<br />
Shared vision and alignment<br />
We are united in our support of the<br />
vision, mission, values and strategy of<br />
Lakeland College.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
Highlights<br />
• A staff climate survey is conducted<br />
regularly to measure progress on<br />
this objective. The next survey is<br />
expected to be done in 2008-09.<br />
Professional development<br />
We are committed to staff development<br />
to meet the joint needs of the College<br />
and the individual.<br />
Highlights<br />
• Ninety-one per cent of faculty, 100<br />
per cent of AUPE employees and<br />
48 per cent of administrative staff<br />
attended at least one sponsored<br />
professional development activity<br />
during the 2007-08 year. All three<br />
employee groups saw participation<br />
increase from the previous year.<br />
• Two faculty members accessed<br />
long term professional development<br />
funds to pursue research, leadership<br />
activities and additional education.<br />
Four faculty members attended five<br />
Lakeland-directed activities.<br />
• Fifteen in-service activities were held,<br />
a big jump from last year’s total of<br />
eight.<br />
• Seven staff members worked on their<br />
Personal Learning Plan by attending<br />
Lakeland courses.<br />
Lakeland culture<br />
We actively create and nurture our<br />
culture consistent with our values. This<br />
is an open and collaborative process<br />
across the entire institution.<br />
Highlights<br />
• A staff climate survey is conducted<br />
regularly to measure progress on<br />
this objective. The next survey is<br />
expected to be done in 2008-09.<br />
Efficient expenditures<br />
We will pursue financially responsible<br />
and sustainable operations.<br />
Highlights<br />
• In 2007-08, Lakeland invested<br />
$11,117,932 in capital, an increase of<br />
$5,440,301 from the previous year.<br />
Increased revenues<br />
We will actively pursue increased<br />
revenues through: full utilization of<br />
Lakeland’s resources, con-ed tuition,<br />
business and industrial training,<br />
international activities, applied<br />
research, fundraising, government<br />
grants, and ancillary operations.<br />
15<br />
Highlights<br />
• Total tuition revenue decreased<br />
$587,539 to $10,304,775.<br />
• Revenue from ancillary revenue was<br />
$5,361,073, an increase of $371,367.<br />
• Total grant revenue was $32,449,903,<br />
an increase of $4,344,546 from<br />
2006-07.<br />
• Total revenues increased by four per<br />
cent to $56,590,144<br />
• The College Development department<br />
was involved in the capital campaign<br />
for the Bill Kondro Wing, the annual<br />
giving program to alumni, and new<br />
Gourmet Giving events that featured<br />
an evening of fine dining with<br />
proceeds to the Alberta Opportunity<br />
Bursary fund. A list of donors is<br />
included on pages 18 and 19 of this<br />
report.<br />
• A new system to coordinate and track<br />
fundraising requests and prospects<br />
was implemented.<br />
Increased assets<br />
Unrestricted net assets need to grow<br />
in order for the College to deal with<br />
unanticipated financial exigencies. Net<br />
capital assets need to grow to allow<br />
for facility and equipment renewal and<br />
expansion of program offerings.<br />
Highlights<br />
• Unrestricted net assets increased to<br />
$13,585,450.<br />
• There was $13,323,960 invested in<br />
capital assets, an increase of 4.42 per<br />
cent from the previous year.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
16<br />
Addressing the priorities<br />
of Advanced Education and Technology<br />
This section reports on Lakeland’s<br />
progress towards achieving five goals<br />
that reflect priorities of Advanced<br />
Education and Technology. The goals<br />
were presented in Lakeland’s 2007-<br />
2011 Business Plan.<br />
Accessibility<br />
Lakeland College will be accessible<br />
to all learners and leave no learner<br />
behind.<br />
• Lakeland continues to deliver Career<br />
Technology Studies (CTS) courses to<br />
students from Buffalo Trail Regional<br />
Division and East Central Alberta<br />
Catholic Separate Schools. Welding,<br />
mechanics, carpentry, firefighting and<br />
cosmetology are a few of the courses<br />
students participated in during the<br />
school year. High school students<br />
from Prince Albert, Sask. visited<br />
fire etc. for a week to participate in<br />
emergency services courses.<br />
• University studies announced it will<br />
offer 11 additional courses in 2008-<br />
09.<br />
• Inclusive education formally<br />
began at Lakeland in January.<br />
In partnership with the Alberta<br />
Association for Community Living,<br />
Lakeland provides the opportunity<br />
for students with developmental<br />
disabilities to experience success in<br />
post-secondary education. Students<br />
enrol in a program under audit<br />
status allowing students and staff to<br />
individualize the pace of study and<br />
provide flexibility in modifying course<br />
requirements.<br />
• The School of Agricultural and<br />
Environmental Sciences encouraged<br />
non-traditional students who work in<br />
agriculture to audit classes that are<br />
relevant to their career.<br />
• Continuing education programming<br />
was offered in Bonnyville, Cold Lake,<br />
Killam and Wainwright.<br />
• Bachelor of applied business:<br />
emergency services and NFPA<br />
1021 – fire officer professional<br />
qualifications courses are offered on<br />
eCampusAlberta. The Canadian On<br />
Farm Food Safety Auditor Training<br />
was also offered online.<br />
• Lakeland received approval to<br />
offer a new renewable energy and<br />
conservation certificate program<br />
online.<br />
Affordability<br />
Lakeland College will minimize the total<br />
cost of post-secondary education for<br />
our learners.<br />
• The value of Lakeland’s awards<br />
program continues to increase thanks<br />
to contributions from businesses,<br />
organizations, alumni and community<br />
members. More than $535,000 in<br />
awards, scholarships and bursaries<br />
were distributed during the year.<br />
Among the new student awards<br />
and scholarships created were the<br />
Dr. Brian Larson Award, MARSH<br />
Canada Ltd. Award, Meyer Norris<br />
Penny LLP Scholarship, The Shortell<br />
Family Scholarship, Soltice Canada<br />
Corp. Scholarship, The Lloyd Seath<br />
Family Scholarship, and the Students’<br />
Association Award for Student<br />
Leadership. The RJ Nelson Family<br />
Foundation brought the Edmonton<br />
Symphony Orchestra’s holiday<br />
concert to Lloydminster in November.<br />
Proceeds from ticket sales helped<br />
establish the Bill Kondro Entrance<br />
Scholarship for Excellence.<br />
• In response to industry requests,<br />
the gas process operator program<br />
was reformatted into a ten month<br />
program.<br />
• Three university studies courses were<br />
offered via WebCT so students can<br />
take courses without being at the<br />
Lloydminster campus.<br />
Collaboration and Alignment<br />
Lakeland College will seek partnerships<br />
to improve student accessibility and<br />
programming options in eastern Alberta.<br />
• The School of Agricultural and<br />
Environmental Sciences and<br />
Vermilion Agricultural Society<br />
established a community partnership<br />
committee to address leadership and<br />
industry training.<br />
• fire etc. continued partnerships with<br />
the Office of the Fire Marshall in<br />
Ontario, ERRS in Manitoba and with<br />
Firemaster Inc.<br />
• Lakeland offered educational<br />
assistant and early learning and<br />
child care courses in Wainwright.<br />
A communications course was also<br />
offered at Canadian Forces Base<br />
Wainwright.<br />
Global Excellence<br />
and Competitiveness<br />
Lakeland College will achieve<br />
international recognition for<br />
programming in specific areas.<br />
• Lakeland and Swinburn University of<br />
Australia entered into an agreement<br />
to offer the bachelor of applied<br />
business: emergency services<br />
program in Australia.<br />
• Student and employee exchange<br />
opportunities are available with<br />
South West TAFE in Australia.<br />
Andrew Logan of South West TAFE<br />
visited Lakeland to learn more about<br />
agricultural sciences programs and<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
17<br />
was very impressed with the Student<br />
Managed Farm concept.<br />
• The School of Agricultural and<br />
Environmental Sciences worked with<br />
the Alberta Association of Colleges<br />
and Technical Institutes on six<br />
applied research projects.<br />
• Applied research projects related to<br />
corn silage and corn grazing began<br />
with industry partner Pioneer.<br />
• It was the final year of a three year<br />
applied research project on lamb<br />
carcass quality. A meat packing plant,<br />
producer groups, and government<br />
were involved in the project that<br />
generated research data that is of<br />
interest to people throughout Canada.<br />
• A small contingent of agricultural<br />
sciences staff toured Southeast<br />
Community College in Nebraska.<br />
Ideas and concepts on agricultural<br />
programming were discussed as was<br />
the possibility of an exchange.<br />
Sustainability<br />
Lakeland College will act as a steward<br />
for the Government of Alberta’s<br />
investment.<br />
• A study prepared by CCbenefits and<br />
released by the Alberta Association<br />
of Colleges and Technical Institutes<br />
reported that Lakeland generates<br />
about $23.1 million in regional<br />
income annually due to operations<br />
and capital spending. In addition,<br />
out-of-region students spend $32.4<br />
million while attending Lakeland,<br />
generating roughly $20.8 million in<br />
regional income. The east central<br />
Alberta economy annually receives<br />
about $165 million in income due<br />
to the past and present efforts of<br />
Lakeland. In fact, Lakeland returns<br />
$3.40 for every dollar of taxpayer<br />
financial support.<br />
• All costs for continuing education<br />
programming are covered through<br />
tuition revenues.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
18<br />
DONORS<br />
Lakeland College thanks the many people and organizations who made a donation to the college between July 1, 2007 and June 30, 2008. Our thanks also to the many donors<br />
who chose to make their contribution anonymously. Our apologies to anyone whose name we may have inadvertently missed.<br />
3 J S Woodworks<br />
ADM Agri-Industries Company<br />
Affinity Credit Union<br />
Agland<br />
Agriculture Financial<br />
Services Corporation<br />
Alberta Agriculture<br />
Alberta Assessors’ Association<br />
Alberta Association of the Deaf<br />
Alberta Blue Cross<br />
Alberta Treasury Branches<br />
Alexander’s Stock Farm<br />
Jim & Robina Allen<br />
Phil Allen<br />
Alpine Environmental Ltd.<br />
Angus Acres<br />
Animal Nutrition Association of Canada<br />
- Alberta Division<br />
AON Consulting/Groupe Conseil<br />
Apple Drugs (Vermilion)<br />
Aramark Canada Ltd.<br />
Arby’s Restaurant & Drive-Thru<br />
Paul Armbruster<br />
Gordon & Eleanor Astle<br />
Babe Astley<br />
ATB Financial<br />
ATCO Electric<br />
ATCO Gas<br />
J. Howard Austin<br />
AVSI Aerospace Inc.<br />
Baddock’s Power Products Ltd.<br />
Bill & Margaret Baile<br />
Barrhead Glass & Mirror Ltd.<br />
Barrhill Farms Ltd<br />
Robert & Dorothy Bartel<br />
Battle River Community Foundation<br />
Robert & Ruby Bauer<br />
BBNS Holdings Ltd<br />
Bea Fisher Enterprises Inc.<br />
Carol Beckie<br />
Bedford Farms Ltd.<br />
BedRoc Geological Consulting Inc.<br />
Mickey & Myrna Bendixen<br />
Jo Berglund<br />
Bert Duncan Trailer Sales (2007) Inc.<br />
Black & Decker Canada Inc<br />
Bluebird Truck Service Ltd.<br />
Chuck & Freda Blyth<br />
Boardom<br />
Bill & Phyllis Bocock<br />
R. Terrence Bocock<br />
Bonavista Petroleum Ltd.<br />
Katie Booth<br />
Border City Concrete Ltd.<br />
Boundary Ford Sales Ltd.<br />
Brian D. Larson Consulting Inc.<br />
Barbara & Larry Bright<br />
Elwood Brinton<br />
Keith & Aileen Brower<br />
Graham & Joan Brown<br />
Robert Brown<br />
Rebecca Butler<br />
James Calderwood<br />
Mary Callander<br />
Reid & Dorothy Cameron<br />
Canadian Association<br />
of Petroleum Producers<br />
Canadian Heavy Oil Association<br />
Canadian National Railways<br />
Canadian Natural Resources Limited<br />
Carey Farms<br />
Cargill Limited<br />
Deanna Carter<br />
CE Franklin Ltd.<br />
Cenaiko Foundation<br />
Jim & Helen Chesterman<br />
Chevraux Farm<br />
Child and Youth Care Association<br />
Chrysler Canada Inc.<br />
City Vision<br />
Ian Clark<br />
Murray Coburn<br />
Coca Cola Bottling<br />
Garry Coleman<br />
College Universitaire De Saint-Boniface<br />
Joy Collinge<br />
Common Wealth Credit Union Ltd.<br />
Joseph Corbiere<br />
G. Glen Cottrell<br />
Country Lane Angus<br />
County of Vermilion River No. 24<br />
David Cowan<br />
Cowpokes<br />
Craig’s Vermilion Ltd.<br />
Jacquie & Jim Crooks<br />
Rex & Joyce Cunningham<br />
Robert & Perla Cuny<br />
Glen Custer<br />
Mary Daigneault<br />
Rene Dallman<br />
Rosabelle Daugela<br />
Terence Dedman<br />
Degagne Motors (1990)<br />
Betty Dennett<br />
Devon Canada Corporation<br />
Greg & Sarah Dewing<br />
Discovery Ford Sales Ltd.<br />
Doc Holidays Charters Ltd.<br />
Bob Douglas<br />
Dr. Celia Takahashi Inc.<br />
Jeff Dustow<br />
E. I. Dupont Canada Inc.<br />
Eagle Valley Industries Ltd.<br />
Eastalta Co-op Ltd.<br />
Embryo Seeds Inc.<br />
Morris & Paulette Erickson<br />
Connie & Barry Fahrion<br />
Farm Credit Canada<br />
Pat Febrouski<br />
Paul & Leona Fedec<br />
Ferbey Sand and Gravel Ltd.<br />
Val Ferguson<br />
Brian & Joan Ferguson<br />
Roy & Muriel Findlay<br />
Karen Firlotte<br />
Stan Fisher<br />
Fisher Scientific<br />
Flint Field Services Ltd.<br />
Focus<br />
Dr. Allan C. Fong<br />
Forsberg & Forsberg<br />
Foster Counselling Services Ltd.<br />
Fountain Tire Ltd.<br />
Bill Fox<br />
Frank’s Saddlery & Supply Ltd.<br />
Frontier Peterbilt Sales Ltd.<br />
Fulkerth Services Ltd.<br />
Joe & Sonja Galichowski<br />
Frank Gannon<br />
Don & Marilyn Garbe<br />
Emelia Garcelon<br />
Gartner Construction<br />
General Glass (2003) Ltd.<br />
Nathalie Genereux<br />
Genie Philip Co. Ltd.<br />
Geo. C. Webb & Sons (1980) Ltd<br />
Richard & Laurie Geseron<br />
Norman & Margaret Glover<br />
Elmer Goeglein<br />
William Golby<br />
Barbara Gordey<br />
Allan & Elouise Gordeyko<br />
Elaine Gottfried<br />
Keri Graham<br />
Groves’ Drugs Ltd.<br />
Growing Alberta<br />
H. & L. Motors Ltd.<br />
Florence Hafso<br />
Keith & Lorraine Hall<br />
Mary Harrish<br />
Haydukewich Welding Ltd.<br />
Heavy Crude Hauling<br />
Heinsburg Oilfield Contracting Ltd.<br />
Trevor & Leeanne Hiebert<br />
Hillsask Farm<br />
Jim Hines<br />
Allen & Ellen Hirsch<br />
Dennis Hobman<br />
Greg & Dawn Hockaday<br />
Dale & Audrey Hockley<br />
Ron Hoffman<br />
Roger & Phyllis Holmes<br />
Holt Grainstock Acres Inc.<br />
Home Run Sports<br />
Brian Honeker<br />
Honey Bee Manufacturing Ltd.<br />
Horizon Fertilizers Ltd.<br />
Kevin Huber<br />
Robert Huff<br />
Husky Energy Inc.<br />
Alfred & Marjorie Hutchinson<br />
Ikon Office Solutions<br />
Image Press Ltd.<br />
Interior Designers of Alberta<br />
Interior Specialists Lloyd Ltd<br />
Intriquip Instruments Inc<br />
Ireland Farm Equipment Ltd<br />
- Agco Tractors<br />
Hazel Irving<br />
Jellybeans Hair Studio<br />
Bernice Johnson<br />
Clare Johnston<br />
Roger & Inga Jones<br />
Vic & Ann Juba<br />
Kalahari Management Inc.<br />
Pat Kallal<br />
Kasian Architecture<br />
Interior Design & Planning Ltd.<br />
Cecil King<br />
Kiwanis Club<br />
Bill & Ruth Kondro<br />
Denise Kotelko<br />
Kramerica Restaurant Group Inc.<br />
Michael Krim<br />
Roy Kubica<br />
John Kubin<br />
Marge & Edward Kuly<br />
Michael Kurchak<br />
Lakeland College Staff Association<br />
Lakeland College Stockman’s Club<br />
Lakeland College Students’ Association<br />
Lakeland Country Florists<br />
Lakeland Implements Ltd.<br />
Evelyn Lang<br />
Angie Laughlin<br />
Leckie and Associates<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
19<br />
Lee J. Moneo Professional Corporation<br />
Park & Beth Letts<br />
Laura Letts<br />
Walter & Ollie Limming<br />
Brian & Celine Linfoot<br />
Suzanne Linklater<br />
Lions Club of Lloydminster Corp.<br />
Little’s Ranching Co. Ltd.<br />
Lloydminster<br />
& District Co-operative Limited<br />
Lloydminster Animal Hospital<br />
Lloydminster Chamber of Commerce<br />
Halvor & Marion Lofthaug<br />
Long’s Value Drug Mart<br />
Robert & Sylvia Lowery<br />
Kevin Lundell<br />
Lyle’s Cabinets<br />
Danilo & Salome Macaventa<br />
Tom Makepeace<br />
Mannville Truck Wash<br />
Mar View Land Ltd.<br />
Marathon Leasing Corporation<br />
Marsh Canada Limited<br />
Martin Plumbing & Heating Ltd.<br />
Material Matters<br />
May Theatres (1984) Limited<br />
Richard & Joyce McBain<br />
Marguerite McConnell<br />
Janice & Brian McCook<br />
Bill McCutcheon<br />
Terrance McDonald<br />
Arthur & Gladys McGinnis<br />
Bill McIldoon<br />
Willy & Laurie McInnes<br />
McKelvie Meadows Ranch<br />
Norma McLuckie & Heather Lensen<br />
George & Ivy McMillan<br />
Donald & June McMillan<br />
George McPhee<br />
Mabel McQuitty<br />
Marie & William Melenka<br />
Meloche Monnex<br />
Meridian Printing/Booster<br />
Daria Michayluk<br />
Ron & Kathryn Miskew<br />
Misty Hills Charolais Ltd<br />
Doug Morgan<br />
Allan Motley<br />
Henry Mottl<br />
Mryglod Steel & Metals Inc.<br />
Musgrave Agencies Ltd.<br />
Rick & Betty Nault<br />
Kathy Nelson<br />
Robert Nelson<br />
Nelson Group Inc.<br />
Newcap Broadcasting<br />
Newcap Radio Inc.<br />
Jack Newman<br />
Bill Nicholls<br />
Maryann & Donald Niekamp<br />
Nilsson Bros. Livestock Exchange<br />
Noralta Controls Ltd.<br />
Don & Zella Norem<br />
Oakley Mechanical Ltd.<br />
Mike Odynski<br />
Edith Ollen<br />
Dietrich & Violet Pankow<br />
Paradigm Holdings Inc.<br />
Patricia & Robert Parker<br />
Peace Island Tours<br />
Ronald Peden<br />
Pembina Consumers Co-op (2000) Ltd.<br />
Penn West Energy Trust<br />
Penn West Petroleum Ltd.<br />
Angelina Pennell<br />
Perkins Farms Inc.<br />
Perma Earth Consulting Ltd.<br />
Allan & Patricia Perreault<br />
Margaret Peterson<br />
Petroleum Society of CIM<br />
Richard & Frances Pfeiffer<br />
Patricia Pidruchney<br />
Pioneer Hi-Bred Limited<br />
Wendy Plandowski<br />
Nick Porozni<br />
Robert & Colin Porozni<br />
Poundmaker Pork Farm Inc.<br />
Priority Insurance Inc.<br />
Blake Proudfoot<br />
Neil Pugh<br />
Pyrotec Fire & Safety Equipment Ltd.<br />
Q-Line Trucking<br />
R. J. Nelson Family Foundation<br />
Ranch & Feedlot Rider Club<br />
Rapid Cleaners<br />
RBC Foundation<br />
Redhead Equipment Ltd.<br />
Robert & Shirley Reed<br />
Stephanie Richardson<br />
Mike & Linda Rieberger<br />
Jack Roberton<br />
Robertson Moskal Sarsons<br />
Bryan Robinson & Brent Herman<br />
William Robinson<br />
Madge Robison<br />
Walter Roland<br />
Irvin Ross<br />
Rotary Club of Lloydminster<br />
Rotary Club of Vermilion<br />
Royal Canadian Legion<br />
Royal Canadian Legion Br. 39<br />
Royal Canadian Legion, Alberta<br />
- N.W.T Command<br />
Gerry Rundle<br />
Ken & Jane Ruptash<br />
Lillian & Larry Ruptash<br />
Russel Metals Inc.<br />
Kandis Ryan<br />
SAMA<br />
Sand Control Systems Ltd.<br />
Sask. Assoc. of<br />
Veterinary Technologists Inc.<br />
Saskatchewan Association<br />
for Community Living Inc.<br />
Saskatoon Processing Co.<br />
SaskEnergy<br />
SaskTel<br />
Colleen Sawyer<br />
Monte Sawyer<br />
Russell & Judy Scheideman<br />
Elsie Scheidt<br />
Scotiabank<br />
James & Hazel Scott<br />
Derek Scott<br />
Lloyd & Elizabeth Seath<br />
Donald & Phyllis Sherk<br />
Dan Sinclair<br />
Kagan & Amy Sirett<br />
Arthur Skirrow<br />
Victoria Skitsko<br />
Jay Smith<br />
Lloyd Smith<br />
Bob & Margaret Snelgrove<br />
Snowbird Medi-Quote Inc.<br />
Solstice Canada Corp<br />
Allan & Doris Sorensen<br />
Spartan Controls<br />
Fred & Arline Spendiff<br />
Eric Stamp<br />
Gus & Marie Stamp<br />
Jean Stang<br />
Richard & Alison Starke<br />
Lawrence & Emily Stelmach<br />
Stenhouse Reno’s<br />
Dr. Alex & Alice Stewart<br />
Craig Stewart<br />
Earl & Kathleen Stewart<br />
Anne & Eugene Strynadka<br />
Subway<br />
Swan Valley Pharmacy<br />
Eileen Sweetnam<br />
Colleen Symes<br />
Synergy Credit Union<br />
Taylor Lexus Toyota<br />
The Accessories Edge Ltd.<br />
The Calgary Foundation<br />
The Canadian Wheat Board<br />
The Esthetic Touch Ltd.<br />
The Goat<br />
The Kootenay Bakery Cafe Cooperative<br />
The Muniserve Corporation<br />
The Prairie Provinces<br />
Chapter of the NKBA<br />
The Right Honourable<br />
Don Mazankowski Foundation<br />
Erika & Andreas Thomi<br />
Barry & Diane Thomlinson<br />
Thunderchild Human Services Corp.<br />
Tirecraft<br />
Torque Welding & Fabricating 2005 Ltd.<br />
Triad Publications Inc.<br />
Lillian & Steven Trowbridge<br />
TRU WAY Rescue Services Inc.<br />
Dennis Turner<br />
Tuscany Steak & Pizza Inc.<br />
UCG Universal Consulting Group Ltd.<br />
Eli Ulan<br />
United Farmers<br />
of Alberta Co-operative Limited<br />
Used Book Store<br />
Franciscus Van Der Hoorn<br />
& Blanka Kuhnel<br />
Josie Van Lent<br />
Vanbruggen Landscaping Ltd.<br />
Vanruskenveld Farms Ltd.<br />
Vantek Line Locating Ltd<br />
Veracity Financial Services<br />
Vermilion & District<br />
Chamber of Commerce<br />
Vermilion Agricultural Society<br />
Vermilion Allied Arts Council<br />
Vermilion Chrysler<br />
Vermilion Credit Union Ltd. Branch 298<br />
Vermilion Jr. B Tigers<br />
Vermilion Shell<br />
Viterra Inc.<br />
Cornelis & Anne Vos<br />
Ethan Walker<br />
Walking Through Grief Society<br />
Ross & Eleanor Wallace<br />
Charlie Wallish<br />
George Wardner<br />
Jean Wawryk<br />
Ed & Deb Wawryk<br />
Webb’s Ford Ltd.<br />
Weil-McLain Canada<br />
Weir Veterinary Services Ltd.<br />
Terry West<br />
Alan Deschner & Susan Whiting<br />
Bernard Whitten<br />
Marjorie Wiese<br />
Wildwood Farms Ltd.<br />
Wilkinson Livingston Stevens LLP<br />
S. A. Williams<br />
Norman Wilson<br />
Wingrove Farms Ltd.<br />
Mervin & Mary Winter<br />
Wisdom Home Schooling<br />
Miles & Melanie Wowk<br />
Orest & Patricia Yackimec<br />
Bill & Joanne Zawadiuk<br />
Kimberly Zieglgansberger<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
20<br />
Management’s Responsibility for the Financial Statements<br />
The accompanying financial statements of Lakeland College are the responsibility of management and have been approved by the Board<br />
of Governors. The financial statements have been prepared by management in conformity with generally accepted accounting principles<br />
described in Note 2.<br />
To discharge its responsibility for the integrity and objectivity of financial reporting, management maintains a system of internal<br />
accounting controls comprising written policies, guidelines and procedures, and a formal authorization structure. This system is designed<br />
to provide management with reasonable assurance that transactions are properly authorized, reliable financial records are maintained, and<br />
assets are adequately accounted for and safe-guarded.<br />
The Board of Governors carries out its fiduciary responsibility for financial management of the institute through its Finance and<br />
Property and Audit Committees. The Audit Committee meets with management and the external auditor to discuss the results of audit<br />
examinations and financial reporting matters. The external auditor has full access to the Audit Committee, with and without the presence<br />
of management.<br />
The Auditor General of the Province of Alberta, the Institute’s external auditor appointed under the Auditor General Act, performs an annual<br />
independent audit of the financial statements. The Auditor’s Report follows.<br />
On behalf of management,<br />
Glenn Charlesworth<br />
President and CEO<br />
Ralph Troschke<br />
Vice President, Student and College Services<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
21<br />
Auditor’s Report<br />
To the Board of Governors of Lakeland College<br />
I have audited the statement of financial position of Lakeland College as at June 30, 2008<br />
and the statements of operations, changes in net assets and cash flows for the year then<br />
ended. These financial statements are the responsibility of the College’s management. My<br />
responsibility is to express an opinion on these financial statements based on my audit.<br />
I conducted my audit in accordance with Canadian generally accepted auditing standards.<br />
Those standards require that I plan and perform an audit to obtain reasonable assurance<br />
whether the financial statements are free of material misstatement. An audit includes<br />
examining, on a test basis, evidence supporting the amounts and disclosures in the<br />
financial statements. An audit also includes assessing the accounting principles used and<br />
significant estimates made by management, as well as evaluating the overall financial<br />
statement presentation.<br />
In my opinion, these financial statements present fairly, in all material respects, the<br />
financial position of the College as at June 30, 2008 and the results of its operations and<br />
its cash flows for the year then ended in accordance with Canadian generally accepted<br />
accounting principles.<br />
Original signed by Fred J. Dunn, FCA<br />
Auditor General<br />
Edmonton, Alberta<br />
October 3, 2008<br />
The official version of this Report of the Auditor General,<br />
and the information the Report covers, is in printed form.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
22<br />
STATEMENT OF FINANCIAL POSITION<br />
As at June 30, 2008<br />
2008 2007<br />
ASSETS<br />
Cash and short-term investments (Note 4) $ 14,872,220 $ 11,941,633<br />
Accounts receivable & prepaids 2,639,571 2,847,423<br />
Inventories (Note 3) 951,956 905,217<br />
18,463,747 15,694,273<br />
Non-current cash and cash equivalents (Note 4) 4,757,088 4,305,352<br />
Investments (Note 5) 11,142,434 8,242,889<br />
Patronage dividends receivable 12,817 12,817<br />
Capital assets (Note 6) 64,641,982 58,300,796<br />
$ 99,018,068 $ 86,556,127<br />
LIABILITIES AND NET ASSETS<br />
Accrued vacation pay $ 2,036,406 $ 1,902,237<br />
Accounts payable and accrued liabilities 4,122,013 3,005,492<br />
Unearned revenue (Note 7) 2,030,537 2,092,387<br />
Deferred contributions (Note 8) 1,677,760 3,852,764<br />
Current portion of long-term liabilities (Note 12) 588,004 120,000<br />
10,454,720 10,972,880<br />
Deferred capital contributions (Note 9) 8,476,424 5,682,345<br />
Unamortized deferred capital contributions (Note 10) 47,368,820 43,140,482<br />
Long-term liabilities (Note 12) 3,361,198 2,280,000<br />
69,661,162 62,075,707<br />
Net assets:<br />
Unrestricted<br />
Accumulated excess of revenue over expenses 13,585,450 9,706,200<br />
Accumulated net unrealized gain on investments (Note 11) 396,293 -<br />
Internally restricted (Note 13) 120,545 142,125<br />
Invested in capital assets 13,323,960 12,760,313<br />
Endowments (Note 14) 1,930,658 1,871,782<br />
29,356,906 24,480,420<br />
$ 99,018,068 $ 86,556,127<br />
The accompanying notes are part of these financial statements.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
23<br />
STATEMENT OF OPERATIONS<br />
For the year ended June 30, 2008<br />
Revenue:<br />
2008 2007<br />
Budget<br />
(Note 18) Actual Actual<br />
Grants (Note 15) $ 29,653,663 $ 32,449,903 $ 28,105,537<br />
Tuition and related fees 9,611,619 10,304,775 10,892,314<br />
Sales, rentals and services (Note 16) 4,692,217 5,361,073 4,989,706<br />
Amortization of deferred capital contributions (Note 10) 2,400,000 2,578,117 2,486,207<br />
Contract revenue 2,455,036 2,676,791 4,917,143<br />
Investment income (Note 17) 410,000 1,060,282 807,262<br />
Donations 138,000 241,548 289,169<br />
Other 998,669 1,917,655 1,868,102<br />
50,359,204 56,590,144 54,355,440<br />
Expenses (Note 16):<br />
Salaries and benefits (Note 19) 28,779,540 29,268,210 26,826,878<br />
Supplies and services 13,920,324 15,551,065 15,961,468<br />
Amortization of capital assets 4,969,104 4,665,531 4,444,772<br />
Utilities 1,954,970 1,841,927 1,849,871<br />
Severance payments - 124,345 135,142<br />
Interest expense 207,074 302,418 227,344<br />
Scholarships and bursaries 428,192 366,505 374,835<br />
Loss (Gain) on disposal of assets - 48,826 (6,367)<br />
50,259,204 52,168,827 49,813,943<br />
Excess of revenue over expenses $ 100,000 $ 4,421,317 $ 4,541,497<br />
The accompanying notes are part of these financial statements.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
24<br />
STATEMENT OF CHANGES IN NET ASSETS<br />
For the year ended June 30, 2008<br />
2008 2007<br />
Accumulated<br />
Net Unrealized<br />
Internally Gain (Loss) on<br />
Restricted Investments Invested in<br />
Unrestricted (Note 13) (Note 11) Capital Assets Endowments Total Total<br />
Excess of revenue<br />
over expenses $ 4,421,317 $ - $ - $ - $ - $ 4,421,317 $ 4,541,497<br />
Endowment contributions - 58,876 58,876 95,206<br />
Transfers:<br />
Net unrealized losses on<br />
available for sale<br />
investments (Note 11) (609,841) (609,841)<br />
Amortization of internally<br />
funded capital assets 2,087,414 (2,087,414) - -<br />
Acquisition of internally<br />
funded capital assets (4,311,477) 4,311,477 - -<br />
Assumption of capital lease 1,923,654 (1,923,654) - -<br />
Repayment of Loans (374,453) 374,453 - -<br />
From internally restricted 21,580 (21,580) - -<br />
Net book value of capital<br />
asset disposals 111,215 (111,215) - -<br />
Increase in net assets 3,879,250 (21,580) (609,841) 563,647 58,876 3,870,352 4,636,703<br />
Net assets beginning of year 9,706,200 142,125 - 12,760,313 1,871,782 24,480,420 19,843,717<br />
Adjustment effective July 1,<br />
2007 per Notes 2(b) and 11 1,006,134 1,006,134<br />
Net assets at end of year $ 13,585,450 $ 120,545 $ 396,293 $ 13,323,960 $ 1,930,658 $ 29,356,906 $24,480,420<br />
The accompanying notes are part of these financial statements.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
25<br />
STATEMENT OF CASH FLOWS<br />
For the year ended June 30, 2008<br />
Cash provided by:<br />
2008 2007<br />
OPERATING ACTIVITIES<br />
Surplus of revenue over expenses $ 4,421,317 $ 4,541,497<br />
Non-cash transactions<br />
Amortization of capital assets 4,665,531 4,444,772<br />
Amortization of deferred capital<br />
contributions (Note 10) (2,578,117) (2,486,207)<br />
Loss (Gain) on disposal of capital assets 48,826 (6,367)<br />
6,557,557 6,493,695<br />
Net change in non-cash working capital (825,050) 4,227,273<br />
Cash provided by operating activities 5,732,507 10,720,968<br />
INVESTING ACTIVITIES<br />
Acquisition of capital assets<br />
Internally and debt funded (4,311,477) (1,905,262)<br />
Externally funded (6,806,455) (3,772,369)<br />
Net purchase and unrealized gains on investments (2,503,253) (3,262,509)<br />
Proceeds from disposal of capital assets 62,390 20,008<br />
Cash used in investing activities (13,558,795) (8,920,132)<br />
FINANCING ACTIVITIES<br />
Endowment contributions 58,876 95,206<br />
Proceeds from capital lease 1,923,654 -<br />
Repayment of long-term debt (374,453) (175,505)<br />
Capital contributions received (Note 9) 9,600,534 4,754,641<br />
Cash provided by financing activities 11,208,611 4,674,342<br />
INCREASE IN CASH AND SHORT TERM INVESTMENTS 3,382,323 6,475,178<br />
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 16,246,985 9,771,807<br />
CASH AND CASH EQUIVALENTS AT END OF THE YEAR $ 19,629,308 $ 16,246,985<br />
The accompanying notes are part of these financial statements.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
26<br />
NOTES TO THE FINANCIAL STATEMENTS<br />
For the year ended June 30, 2008<br />
NOTE 1<br />
NOTE 2<br />
Authority and Purpose<br />
Lakeland College (the “College”) operates under the authority of the Post Secondary Learning Act, Chapter P-19.5., Statutes of Alberta, 2003.<br />
The College, as an inter-provincial institution, provides quality educational services responsive to the needs of students in relation to the<br />
workplace, community and society. The College is exempt from the payment of income taxes under section 149 of the Income Tax Act and is a<br />
registered charity.<br />
Summary of Significant Accounting Policies and Reporting Practices<br />
These financial statements have been prepared in accordance with Canadian generally accepted accounting principles. In preparing the<br />
College’s financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and<br />
liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and<br />
expenses during the period. Management believes its estimates to be appropriate, however, actual results could differ from these estimates.<br />
(a) Revenue Recognition<br />
Operating grants are recognized in the period when receivable. Operating grants received for a future period are deferred until that future<br />
period and are reported as deferred contributions.<br />
Amounts received for tuition fees and contract programs and sales, rentals and services are recognized as revenue in the period the<br />
goods are delivered or the services are provided.<br />
Capital grants and capital donations are recorded as deferred capital contributions until the amounts are invested in capital assets.<br />
Amounts invested representing funded capital assets are transferred to unamortized deferred capital contributions. Unamortized deferred<br />
capital contributions are recognized as revenue in the periods in which the related amortization expense for the funded capital assets is<br />
recorded.<br />
The College recognizes dividend and interest revenue as earned, and investment gains and losses when realized. Realized gains and<br />
losses represent the difference between the amounts recognized through sales of investments and their respective cost base, as well as<br />
the amounts provided for as a write-down due to impairment. Unrealized gains and losses on available-for-sale securities attributed to<br />
endowment net assets are recorded in deferred contributions. Unrealized gains and losses on available-for-sale securities attributed<br />
to other net assets are recorded in the Statement of Changes in Net Assets, and are recognized in the Statement of Operations when<br />
realized.<br />
Unrestricted cash donations are recognized as revenue when they are received. Donations of materials and services that would otherwise<br />
have been purchased are recorded at fair value when a fair value can be reasonably determined.<br />
Externally restricted non-capital contributions are deferred and are recognized as revenue in the period in which the related expenses<br />
are incurred. Externally restricted amounts can only be used for purposes designated by the contributors. Any externally restricted<br />
contributions containing stipulations that the amounts should be permanently maintained, are recorded as a direct increase to net assets.<br />
(b) Change in Accounting Policy<br />
Effective July 1, 2007, Lakeland College implemented new financial instrument standards as described in the Canadian Institute of<br />
Chartered Accountants (CICA) Handbook Section 3855, Financial Instruments - Recognition and Measurement; and Section 3861 -<br />
Financial Instruments - Disclosure and Presentation. The College does not use hedge accounting and accordingly, is not impacted by the<br />
requirement of Section 3865, Hedges. As permitted for Not-for-Profit Organizations, Lakeland has elected not to apply the standards for<br />
embedded derivatives (elements of contracts whose cash flows move independently from the host contract) in non-financial contracts.<br />
Certain transitional adjustments have been recorded in opening net assets and as of July 1, 2007 (transition date) for the change in<br />
accounting for financial assets classified as available-for-sale and measured at fair value, rather than cost, as at the commencement of<br />
the current fiscal year.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
27<br />
(c)<br />
(d)<br />
(e)<br />
(f)<br />
(g)<br />
Financial assets classified as available-for-sale are measured at fair value with changes in fair values recognized in the Statement of<br />
Changes in Net Assets or deferred contributions as appropriate until realized, at which time the cumulative changes in fair value are<br />
recognized in the Statement of Operations.<br />
Upon implementation of the new standards, the College has classified its significant financial assets and financial liabilities as follows:<br />
- Cash and investments are classified as available-for-sale, and are measured at fair value with subsequent gains or losses included in<br />
net assets or deferred contributions until the asset is removed from the Statement of Financial Position. A transitional adjustment as at<br />
July 1, 2007 is outlined in Note 11.<br />
- Accounts receivable are classified as other loans and receivables. After initial fair value measurement, they are measured at amortized<br />
cost.<br />
- Accounts payable, accrued liabilities and employee benefits liabilities are classified as other financial liabilities. After their initial fair<br />
value measurement, they are measured at amortized cost using the effective interest rate method.<br />
Capital Assets<br />
Purchased capital assets are recorded at cost. Donated assets are recorded at their fair value when donated. Capital assets are amortized<br />
on a straight-line basis over the following estimated average useful lives:<br />
Buildings, leasehold and site improvements<br />
3 - 40 years<br />
Furniture, equipment and library<br />
10 years<br />
Vehicles, computers and telecommunication equipment 5 years<br />
Inventories<br />
Livestock inventory is recorded at net realizable value. All other inventories are valued at the lower of cost and net realizable value.<br />
Financial Instruments<br />
The fair values of the College’s accounts receivable, accounts payable and accrued liabilities and accrued vacation pay are valued in<br />
accordance with the methods described in Note 2(b). Fair value of publicly traded securities are based on closing market prices.<br />
Financial instruments of the College are exposed to credit risk, interest rate risk, foreign exchange risk and market risks. The College’s<br />
accounts receivable are due from a diverse group of customers and are subject to normal credit risk. The interest rate risk is the risk to<br />
the College’s earnings that arises from the fluctuations in interest rates and the degree of volatility of these rates. The foreign exchange<br />
risk is the risk of the rising costs related to purchase transactions in United States currency and the reduction of amounts collected for<br />
receivables which are due in United States currency. The market risk is the risk to the College’s earnings that arises from the fluctuation<br />
and the degree of volatility in the market value of long-term investments. Each of these risks is limited through the College’s collection<br />
procedures, investment guidelines and other internal policies, guidelines and procedures.<br />
Fixed income and marketable equity securities are classified as available-for-sale (investments held for long-term capital appreciation<br />
and generation of income), and are measured at fair value at each reporting date. The College utilizes settlement-date accounting for all<br />
purchases and sales of financial assets in its investment portfolio. Fixed income securities are initially recognized at acquisition cost<br />
(purchase price plus transaction costs), which reflects any premium or discount at date of purchase, and carried at fair value.<br />
Marketable equity securities are also initially recognized at acquisition cost, and subsequently measured at fair value.<br />
Employee Future Benefits<br />
The College participates in the Province of Alberta’s Local Authorities and the Management Employees Pension Plans. These pension<br />
plans are multi-employer defined benefit plans that provide pensions for the College’s participating employees, based on years of service<br />
and earnings.<br />
Pension costs included in these financial statements comprise the amount of employer contributions required for its employees during<br />
the year, based on rates which are expected to provide for benefits payable under the Local Authority and the Management Employees<br />
Pension Plans. The College’s portion of the pension plans’ deficit or surplus is not recorded by the College.<br />
Pledges Receivable<br />
Pledges receivable are not recorded as assets in these financial statements.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
28<br />
Note 3<br />
Inventories<br />
Inventories consist of:<br />
2008 2007<br />
Livestock $ 339,125 $ 311,555<br />
Bookstore 323,948 353,041<br />
Firefighting agents 125,725 108,506<br />
Fuels 78,294 48,874<br />
Farm 81,632 80,783<br />
Quip shop 3,232 2,458<br />
$ 951,956 $ 905,217<br />
Note 4<br />
Cash and Cash Equivalents<br />
2008 2007<br />
Unrealized Gain<br />
Unrealized Gain<br />
Cost (Loss) Market Cost (Loss) Market<br />
Bank balance $ 5,126,724 $ - $ 5,126,724 $ 6,342,883 $ - $ 6,342,883<br />
Money market investments 11,905,496 - 11,905,496 7,998,750 (1,511) 7,997,239<br />
Endowment investment fund 2,045,406 551,682 2,597,088 1,905,352 644,700 2,550,052<br />
19,077,626 551,682 19,629,308 16,246,985 643,189 16,890,174<br />
Less non-current portion (4,757,088) (4,305,352)<br />
$ 14,872,220 $ 11,941,633<br />
Non-current cash and investments are comprised of: 2008 2007<br />
Endowments $ 2,597,088 $ 1,905,352<br />
Long Term Debt 2,160,000 2,400,000<br />
$ 4,757,088 $ 4,305,352<br />
Included in cash and cash equivalents, the College is holding $6 million for capital projects and $3 million in apprenticeship access funds.<br />
Note 5<br />
Investments<br />
2008 2007<br />
Unrealized<br />
Unrealized<br />
Cost Gain (Loss) Market Cost Gain (Loss) Market<br />
Bonds 5,405,625 (69,141) 5,336,484 5,298,836 (109,631) 5,189,204<br />
Mutual Funds 5,340,516 465,434 5,805,950 2,944,053 1,117,277 4,061,330<br />
$ 10,746,141 $ 396,293 $ 11,142,434 $ 8,242,889 $ 1,007,646 $ 9,250,534<br />
The College’s investment strategy is to meet expenditure requirements within one year, investing such funds in liquid investments.<br />
The balance of funds are invested for a longer term with a mix of maturities between one and ten years.<br />
Pooled Bond Funds have an average effective yield of 4.68% (in 2007, 5.10%) and weighted average term to maturity of more than one year.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
29<br />
Note 6<br />
Capital Assets<br />
Capital assets consist of:<br />
2008 2007<br />
Accumulated Net Book Net Book<br />
Cost Amortization Value Value<br />
Land $ 1,612,439 $ - $ 1,612,439 $ 1,612,439<br />
Buildings 89,213,018 (44,177,496) 45,035,522 41,383,130<br />
Site improvements 18,259,803 (10,585,112) 7,674,691 8,054,736<br />
Furniture & equipment 12,825,225 (8,074,389) 4,750,836 3,502,145<br />
Computers & telecommunications equipment 12,067,113 (7,716,203) 4,350,910 2,583,541<br />
Vehicles 2,329,220 (1,693,116) 636,104 532,319<br />
Leasehold improvements - - - 79,998<br />
Milk quotas 267,641 - 267,641 220,391<br />
Library 3,454,164 (3,140,325) 313,839 332,097<br />
$ 140,028,623 $ (75,386,641) $ 64,641,982 $ 58,300,796<br />
The Province of Alberta has been granted an option to purchase for $1 the whole or any part of the land, buildings and site improvements<br />
that it transferred to the College in 1982.<br />
In 2006 for the consideration of $1, Lakeland College sold its interest in six acres of land to the Town of Vermilion for the Town’s use of<br />
building a Community Centre.<br />
Buildings include $9,059,050 (2007 - $3,449,537) of the Lloydminster Expansion project and computers & telecommunications equipment<br />
include $117,614 relating to the wireless / network separation project, amortization of which is deferred until the completion of the project.<br />
Note 7<br />
Unearned Revenue<br />
Unearned revenue consists of:<br />
2008 2007<br />
Tuition and residence fees $ 1,480,565 $ 1,310,198<br />
Contract advances 193,847 416,122<br />
Extension and community education course fees 58,897 38,804<br />
Projects & programs 297,228 327,263<br />
$ 2,030, 537 $ 2,092,387<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
30<br />
Note 8<br />
Deferred Contributions<br />
Changes in deferred contributions are as follows:<br />
2008 2007<br />
Restricted donations & contributions received during the year<br />
Conditional grants $ 2,412,290 $ 5,442,992<br />
Donations in kind 57,621 57,114<br />
Restricted donations 63,985 5,350<br />
Scholarships 325,605 163,911<br />
Interest on endowments (Note 17) 120,066 106,760<br />
2,979,567 5,776,127<br />
Transferred to revenue:<br />
Conditional grants (Note 15) (5,326,139) (2,438,875)<br />
Restricted donations (3,350) (10,334)<br />
Donations in kind (16,360) (53,414)<br />
Scholarships and bursaries (360,404) (267,420)<br />
(5,706,253) (2,770,043)<br />
Increase (decrease) during the year relating to operating funding (2,726,686) 3,006,084<br />
Balance at beginning of the year relating to operating funding 3,852,764 846,680<br />
Balance at end of the year relating to operating funding $ 1,126,078 $ 3,852,764<br />
Deferred contributions relating to unrealized gain on investments<br />
Unrealized gain on investments, beginning of year, as restated (Note 11) 644,700 -<br />
Change in unrealized gain on investments relating to deferred contribution (93,018) -<br />
Unrealized gain on investments, end of year $ 551,682 $ -<br />
Total Deferred contributions, Balance at end of year $ 1,677,760 $ 3,852,764<br />
The balance consists of funds restricted for:<br />
Conditional programs 757,799 3,569,753<br />
Scholarships and bursaries 330,710 261,663<br />
College development 37,569 21,348<br />
Unrealized gain on investments allocated to deferred contributions 551,682 -<br />
$ 1,677,760 $ 3,852,764<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
31<br />
Note 9<br />
Deferred Capital Contributions<br />
Changes in deferred capital contributions are as follows:<br />
2008 2007<br />
Contributions received during the year $ 9,227,829 $ 4,754,641<br />
Interest allocated to deferred capital contributions 372,705<br />
Total contributions received in year 9,600,534 4,754,641<br />
Transferred to unamortized deferred contributions (Note 10) (6,806,455) (3,772,369)<br />
Balance at beginning of the year 5,682,345 4,700,073<br />
Balance at end of the year $ 8,476,424 $ 5,682,345<br />
Note 10<br />
Unamortized Deferred Capital Contributions<br />
2008 2007<br />
Transferred to revenue $ (2,578,117) $ (2,486,207)<br />
Transferred from deferred capital contributions (Note 9) 6,806,455 3,772,369<br />
4,228,338 1,286,162<br />
Balance at the beginning of the year 43,140,482 41,854,320<br />
Balance at the end of the year $ 47,368,820 $ 43,140,482<br />
Note 11<br />
Net Unrealized Gains on Available-for-Sale Investments<br />
2008 2007<br />
Net unrealized losses on available-for-sale investments arising during the year $ (695,762) $ -<br />
Net investment losses realized on available-for-sale investments during<br />
the year and reported in the statement of operations (7,097) -<br />
Decrease in unrealized gain on available-for-sale investments (702,859) -<br />
Balance, July 1, 2007 (Note 2(b)) $ 1,650,834 $ -<br />
Net unrealized gains on available-for-sale investments at end of year $ 947,975 $ -<br />
2008 2007<br />
Endowment net<br />
assets, recorded in<br />
deferred contributions Other net<br />
(Note 8) assets Total Total<br />
Balance, Beginning of year (Notes 2(b)<br />
and 3(b)) $ 644,700 $ 1,006,134 $ 1,650,834 -<br />
Decrease during the year (93,018) (609,841) (702,859) -<br />
Balance, End of year 551,682 $ 396,293 $ 947,975 -<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
32<br />
Note 12<br />
Long-Term Liabilities<br />
2008 2007<br />
(a) Long Term Debt $ 2,280,000 $ 2,400,000<br />
(b) Capital Lease 1,669,202 -<br />
Total Long Term Liabilities $ 3,949,202 $ 2,400,000<br />
Current Portion (588,004) (120,000)<br />
Long Term Portion $ 3,361,198 $ 2,280,000<br />
(a) Long-term Debt:<br />
2008 2007<br />
Alberta capital financing authority (AFCA) $ 2,280,000 $ 2,400,000<br />
Less: current portion $ (120,000) $ (120,000)<br />
$ 2,160,000 $ 2,280,000<br />
The ACFA loan is a 25 year debenture secured by residences with value of $2,956,794. The debenture incurs interest at 6.5% per annum.<br />
AFCA Loan<br />
2008-09 $ 120,000<br />
2009-10 120,000<br />
2010-11 120,000<br />
2011-12 120,000<br />
2012-13 and subsequent 1,800,000<br />
$ 2,280,000<br />
(b) Capital Lease:<br />
2008 2007<br />
IBM capital lease 1,669,202 -<br />
Less: current portion (468,004) -<br />
Non-current capital lease obligation 1,201,198 -<br />
The minimum annual payments under the capital lease obligation are as follows:<br />
IBM Lease<br />
2008-09 $ 468,004<br />
2009-10 468,004<br />
2010-11 468,004<br />
2011-12 468,004<br />
Total minimum lease payments $ 1,872,016<br />
Less: amount representing interest (202,814)<br />
Capital lease obligation $ 1,669,202<br />
The IBM lease is for goods and services relating to the restructuring of the College network and enabling the wireless internet access system and is for a<br />
term of 5 years with an imputed interest rate of 4.75%. During the year, interest of $66,453 (2007 -$0) has been charged to the expense.<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
33<br />
Note 13<br />
Net Assets Internally Restricted by the Board<br />
Net assets internally restricted by the Board represent amounts set aside by the College’s Board of Governors to be used for the following<br />
designated purposes. These amounts are not available for other purposes without the approval of the Board.<br />
2008 2007<br />
Major maintenance and equipment $ 68,230 $ 75,314<br />
Delivery initiatives 52,315 66,811<br />
$ 120,545 $ 142,125<br />
Note 14<br />
Endowments<br />
External endowments consist of funds restricted for:<br />
2008 2007<br />
College development $ 420,089 $ 420,089<br />
Scholarships and bursaries 1,510,569 1,451,693<br />
Funds are required to be maintained in perpetuity.<br />
$ 1,930,658 $ 1,871,782<br />
Note 15<br />
Grants<br />
Grant revenue consists of:<br />
2008 2007<br />
Budget Actual Actual<br />
Advanced Education<br />
General Operating $ 25,674,084 $ 25,939,714 $ 24,451,864<br />
Conditional (Note 8) 2,932,838 5,326,139 2,438,875<br />
Other Government Grants 8,000 - 84,789<br />
Province of Saskatchewan<br />
General Operating 1,038,741 1,184,050 1,130,009<br />
$ 29,653,663 $ 32,449,903 $ 28,105,537<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
34<br />
Note 16<br />
Sales, Rentals and Services<br />
Revenue and direct expense for sales, rentals and services consists of:<br />
2008 2007<br />
Budget Actual Actual<br />
Revenue:<br />
Residences $ 2,399,745 $ 2,646,975 $ 2,624,033<br />
Bookstores 896,045 1,124,981 1,002,330<br />
Cafeterias 699,224 860,181 760,346<br />
Conference Services 300,500 306,304 321,820<br />
Printing 4,500 9,658 8,624<br />
Swimming Pools 224,998 177,055 171,618<br />
Other 167,205 235,919 100,935<br />
4,692,217 5,361,073 4,989,706<br />
Direct Expenses:<br />
Residences 2,273,694 3,001,736 2,205,771<br />
Bookstores 891,191 1,155,190 1,114,429<br />
Cafeterias 740,501 893,758 771,911<br />
Conference Services 295,899 277,818 356,735<br />
Printing 2,340 916 1,458<br />
Swimming Pools 275,416 254,804 225,417<br />
Other 148,902 409,730 142,080<br />
4,627,943 5,993,952 4,817,801<br />
Excess of Revenue over<br />
Direct Expenses $ 64,274 $ (632,879) $ 171,905<br />
Note 17<br />
Investment Revenue<br />
2008 2007<br />
Investment Income Earned $ 1,187,445 $ 915,023<br />
Loss on Sale of Investments (7,097) (1,001)<br />
Investment Income Before Transfer 1,180,348 914,022<br />
Less: amount transferred to deferred contributions (Note 8) (120,066) (106,760)<br />
Investment Income from Unrestricted Sources $ 1,060,282 $ 807,262<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
35<br />
Note 18<br />
Operating Expense<br />
Operating expense is summarized as follows:<br />
2008 2007<br />
Budget Actual Actual<br />
Instruction $ 19,997,096 $ 21,250,076 $ 21,255,684<br />
Amortization of capital assets 4,969,104 4,665,531 4,444,772<br />
Cost of sales, rental & services<br />
(Note 16) 4,627,943 5,993,952 4,817,801<br />
Facility operations and maintenance 3,230,497 5,255,476 4,077,630<br />
Academic support 4,377,926 3,886,839 4,896,174<br />
Institutional support 8,355,739 5,575,780 5,243,030<br />
Student services 2,804,902 3,681,693 3,513,522<br />
Computing services 1,859,997 1,859,480 1,565,330<br />
$ 50,259,204 $ 52,168,827 $ 49,813,943<br />
Instruction encompasses all formal education and instructional program elements. Academic support includes all activities that directly<br />
support the educational and instructional elements such as academic administration, library and audio-visual services. Institutional support<br />
includes all activities that provide institution-wide support to other programs such as the President’s office, human resources and financial<br />
services. Student Services includes all activities and services for the student body.<br />
Note 19<br />
Salaries and Benefits<br />
The following information is prepared in accordance with Treasury Board Directive No. 12/98 as amended in 2007 and only includes salary<br />
and benefit information for the Board and Executive Management:<br />
2008 2007<br />
Other<br />
Number of Base Salary Other Cash Non-Cash Number of<br />
Individuals (1) Benefits (2) Benefits (3) Total Individuals Total<br />
Chairman of the Board 1 $ - $ 14,434 $ 726 $ 15,160 1 23,226<br />
Other Board 11 - 31,694 761 32,455 11 38,428<br />
- 46,128 1,487 47,615 61,654<br />
President 1 155,000 20,765 175,765 1 169,460<br />
VP Academics 1 130,000 20,333 150,333 1 144,510<br />
VP Student<br />
and College Services 1 130,000 20,182 150,182 1 124,379<br />
Executive Director<br />
External Relations (4) - - - - - 1 275,533<br />
Director, Human Resources 1 108,514 18,121 126,635 1 118,224<br />
Director, Fund Development 1 86,106 15,276 101,382 1 90,141<br />
609,620 - 94,677 704,297 922,247<br />
Salaries & Ben Expense in year $ 609,620 $ 46,128 $ 96,164 $ 751,912 $ 983,901<br />
(1) Base salary includes pensionable base pay.<br />
(2) Other cash benefits includes honoraria.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
36<br />
(3) Employer’s share of all employee benefits and contributions or payments made on behalf of employees including pension, health care,<br />
dental coverage, vision coverage, out of country medical benefits, group life insurance, accidental disability and dismemberment<br />
insurance, long and short term disability plan, professional memberships and tuition.<br />
Other non-cash benefits figure also includes the Employer’s share of the cost of additional benefits including sabbaticals or other special<br />
leave with pay, financial planning services, retirement planning services, concessionary loans, travel allowances, car allowances, and club<br />
memberships.<br />
(4) Executive Director, External Relations position was vacated in 2007 and will not be filled.<br />
Note 20<br />
Note 21<br />
Budget<br />
The operating and capital budgets were approved by the Board of Governors on March 28, 2007. The operating budget does not include<br />
revenues and expenses for ad hoc programs negotiated subsequent to budget approval. The approved capital budget provided $3,166,248<br />
(actual $4,573,568) for internally funded acquisitions of capital assets.<br />
Commitments<br />
The College has the following commitments requiring future minimum annual payments for years ending June 30 as follows:<br />
2008-09 $ 308,468<br />
2009-10 199,498<br />
2010-11 29,441<br />
2011-12 -<br />
2012-13 -<br />
$ 537,407<br />
Note 22<br />
Related Party Transactions<br />
Province of Alberta<br />
The College is a Provincial Corporation as all the members of the Board of Governors are appointed by a combination of orders by the<br />
Lieutenant Governor in Council and the Minister of Advanced Education. Grant revenue transactions between the College and the Province are<br />
disclosed in the College financial statements as follows:<br />
2008<br />
Deferred Deferred Capital Grant<br />
Contributions Contributions Revenue Total<br />
Alberta Advanced Education<br />
Regular operating $ - $ - $ 25,939,714 $ 25,939,714<br />
Performance funding - - - -<br />
Access funding 383,698 23,126 3,530,576 3,937,400<br />
Conditional 271,022 1,801,615 237,363 2,310,000<br />
Alberta Infrastructure<br />
Infrastructure maintenance 19,345 5,355,105 1,558,200 6,932,650<br />
Total $ 674,065 $ 7,179,846 $ 31,265,853 $ 39,119,764<br />
ANNUAL REPORT 2007-08<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong>
37<br />
2007<br />
Deferred Deferred Capital Grant<br />
Contributions Contributions Revenue Total<br />
Alberta Advanced Education<br />
Regular operating $ - $ - $ 24,303,046 $ 24,303,046<br />
Performance funding - - 148,818 148,818<br />
Access funding 2,414,180 37,882 1,826,961 4,279,023<br />
Conditional 96,740 970,376 153,808 1, 220,924<br />
Alberta Infrastructure<br />
Infrastructure maintenance 1,035,735 3,616,463 458,106 5,110,304<br />
Total $ 3,546,655 $ 4,624,721 $ 26,890,739 $ 35,062,115<br />
The College provided courses to other provincial colleges and participated in the development, sale and offering of certain courses with other<br />
public colleges. The revenues and expenses incurred for these have been included in the Statement of Operations but have not been separately<br />
quantified. These transactions were entered into on the same business terms as with non-related parties and are recorded at fair market value.<br />
Note 23<br />
Pension Liability and Expense<br />
In the year ending June 30, 2008, the College participated in the Local Authorities Pension Plan (LAPP) in the amount of $1,611,372<br />
(2007-$1,414,616). As at December 31, 2007, the LAPP reported a deficiency of $1,183,334,000 (2006 - $746,651,000). The January 1,<br />
2008 employers’ contribution rate was not increased. Pension expenses are recorded in the Salaries and Benefits section of the Statement of<br />
Operations.<br />
Note 24<br />
Contingent Liabilities<br />
There is one unresolved claim against the College. While the outcome of this claim cannot be predicted at this time, it is the opinion<br />
of management that the resolution of this claim will not have a material effect on the financial statements of the College and it has not<br />
been reflected in these statements. Additional costs of settling this claim, if any, will be charged to operations upon settlement, which in<br />
management’s opinion will not have a material effect on the financial position of the College.<br />
Note 25<br />
Comparative Figures<br />
The 2007 figures have been reclassified where necessary to conform to 2008 presentation.<br />
Note 26<br />
Approval of Financial Statements<br />
These financial statements were approved by the Board of Governors.<br />
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08
<strong>LAKELAND</strong> <strong>COLLEGE</strong><br />
ANNUAL REPORT 2007-08<br />
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