|
2007/08–2009/10 SERVICE PLAN
Ministry of Advanced Education
Resource Summary
| Core Business Areas |
2006/07
Restated
Estimates1 |
2007/08
Estimates |
2008/09
Plan |
2009/10
Plan |
| Operating Expenses ($000) |
| Educational Institutions and Organizations |
1,572,844 |
1,688,169 |
1,749,207 |
1,814,309 |
| Student Financial Assistance |
159,718 |
136,728 |
144,382 |
157,624 |
| Debt Service Costs and Amortization of Prepaid Capital Advances |
268,161 |
294,917 |
317,751 |
336,992 |
| Research and Innovation |
6,879 |
11,910 |
11,941 |
6,973 |
| Executive and Support Services |
18,934 |
19,352 |
19,605 |
19,884 |
| Total |
2,026,536 |
2,151,076 |
2,242,886 |
2,335,782 |
| Full-time Equivalents (Direct FTEs) |
| Student Financial Assistance |
87 |
87 |
87 |
87 |
| Executive and Support Services |
129 |
141 |
141 |
141 |
| Total |
216 |
228 |
228 |
228 |
| Ministry Capital Expenditures (Consolidated Revenue Fund) ($000) |
| Executive and Support Services |
1,471 |
2,160 |
1,840 |
1,840 |
| Total |
1,471 |
2,160 |
1,840 |
1,840 |
| Capital Plan ($000) |
| Educational Institutions and Organizations |
267,280 |
300,860 |
200,000 |
200,000 |
| Total |
267,280 |
300,860 |
200,000 |
200,000 |
| Other Financing Transactions ($000) |
| Student Financial Assistance (B.C. Student Loans loan repayments and new loans) |
|
|
|
|
| Receipts |
56,186 |
70,000 |
80,000 |
90,000 |
| Disbursements |
306,900 |
270,000 |
276,000 |
282,000 |
| Net Cash Source (Requirements) |
(250,714) |
(200,000) |
(196,000) |
(192,000) |
Resource Summary: Public Post-Secondary Institutions
| Public Post-Secondary Institutions |
2006/07 Restated Estimates |
2007/08 Estimates |
2008/09 Plan |
2009/10 Plan |
| Combined Income Statement ($000s)1 |
| Total Revenue |
3,874,222 |
4,155,195 |
4,341,540 |
4,504,375 |
| Total Expense |
3,856,631 |
4,146,513 |
4,337,367 |
4,511,267 |
| Operating Results |
17,591 |
8,682 |
4,173 |
(6,892) |
| Gain (Loss) on sale of Capital Assets (if applicable) |
|
|
|
|
| Net Results |
17,591 |
8,682 |
4,173 |
(6,892) |
Major Capital Projects
In accordance with the Budget Transparency and Accountability Act, this section briefly describes a post-secondary capital project for which the province's financial commitment exceeds $50 million.
It should be noted that many other capital projects are planned or are under way at public post-secondary institutions in
the province, but only the one described here will exceed $50 million in provincial funds.
Simon Fraser University South Surrey Central Campus
The project will provide a permanent campus for Simon Fraser University in Surrey that will accommodate space for 2,500 full-time
equivalent students by 2010. The purchase allows for staged campus growth. The total fit-out of the facilities will
be complete by 2007.
Objectives
This project involves purchase and development of 29,958 square metres of space within the Insurance Corporation of British Columbia
Central City development. This project is being implemented to meet the growing demand for post-secondary education in the
South Fraser region.
Costs
In March 2004, Treasury Board approved the purchase and development costs of $69.8 million for this project. In 2003/04, $34.88 million
was spent for the purchase cost. The project is being developed in phases with completion scheduled for 2007.
Benefits
The project at Central City provides a permanent campus in Surrey that will accommodate quality instruction and research space
for residents in the South Fraser region. The staged growth will also meet their immediate educational needs.
The first phase of the fit-out was completed in September 2004. The second phase was completed in two stages, September 2005
and September 2006. The remainder is to be completed by September 2007. The campus was officially opened in September 2006.
This campus will provide accommodation in less space than that of traditional universities through the availability of neighbouring
private sector facilities for food and athletic services.
Ongoing Risks
The potential for capital cost increases is mitigated by several factors. The building was already constructed and therefore
the risk of construction cost increases is greatly reduced and can only pertain to the fitting-out of the interior space.
Risks associated with the benefits have been mitigated by the phased approach to fitting-out the space. Schedule delays and
scope adjustments are minimized by the purchase of a constructed building shell and phasing in the growth.
Academic planning of post-secondary education demand, both short-term and long-term, has been completed by a consortium of
four post-secondary education institutions in the Fraser Valley and the Ministry.
|