LAKELAND COLLEGE Annual Repor t 2008 - 2009

ANNUAL REPORT 2008-2009
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million for furniture and equipment. About 89 per cent of this project was funded by Alberta Advanced Education and Technology via
infrastructure and renaissance grants and the remaining 11 per cent of the funding was provided from donors.
As for other projects, as of June 30, 2009, 90 per cent of security updates were finished, the fire alarm upgrade was out for tender and
design of the following Lakeland projects was underway: water treatment facility for fire etc., Lakeland’s emergency training centre,
Applied Engineering building upgrade, Trades Centre mezzanine, student activity centre, Alumni Hall lift, and high voltage system
upgrade.
Areas of Risk
Deferred maintenance
In July 2002, the value of Lakeland’s supported total deferred maintenance was almost $9.9 million. Lakeland received a $1.4 million
IMP grant in 2008-2009 – an increase from the previous sum of $464,000 a year – to help address deferred maintenance. However,
escalation of costs has prevented Lakeland from getting even close to catching up. As of June 30, 2009, Lakeland’s supported
deferred maintenance when adjusted for construction cost inflation was approximately $10.9 million. This doesn’t include unsupported
items such as parking lots, roadways and residence buildings.
Accurate budgeting
Creating a financially sound and realistic budget is a challenge. Some of the factors impacting Lakeland’s budget process include:
• The expectation that there will be no increase – and may be a decrease – in the general operating grant.
• Negotiated salaries in excess of funding increases.
• A tuition policy that limits tuition increases to rates below internal inflation rates.
Lakeland is committed to addressing these budgetary pressures and will work closely with the Government of Alberta to develop longterm
strategies to ensure that it can continue to deliver on its mandate and successfully implement its strategic plan.