Simon Fraser University

BALANCE SHEET
2004
ASSETS
Current assets
Cash & Short-Term Investments
Accounts receivable
Inventories
Prepaid expense

Investments
Property and equipment
Prepaid Lease
Unamortized debt discount and issue costs
TOTAL ASSETS

LIABILITIES AND NET ASSETS

Current Liabilities
Accounts payable and accrued liabilities
Current portion of long-term debt

Employee future benefits

Long Term Debt
Deferred Contributions
Deferred Contributions for property and equipment
Deferred lease proceeds

NET ASSETS
Operating
Internally restricted for commitments
operating
capital, lease, and other
Invested in property and equipment
Endowment

2005

140,321
14,279
1,954
3,770
160,324

123,099
16,926
1,673
3,429
145,127

212,275
414,549

243,380
494,560

11074
798,222

10,785
893,852

22,476
6,176
28,652

41,708
6,323
48,031

27,481
162,567
46,009
222,121
0
486,830

30,493
161,735
39,448
250,290
13,754
543,751

-17,120
75,646

-18,892
88,777

150,665
226,311
102,201

164,166
252,943
116,050

TOTAL LIABILITIES AND NET ASSETS

311,392
798,222

350,101
893,852

INCOME STATEMENT
2004
REVENUE
Government grants and contracts
Province of British Columbia
Government of Canada
Other governments
Tuition - credit courses
Non-credit courses
Other
Sales of goods and services
Gifts, grants, and contracts
Investment income
Amortization of deferred contributions: property & equipment
Miscellaneous income

EXPENSES
Salaries
Employee benefits

Amortization of property & equipment

Scholarships, bursaries, & prizes
Other operational expenses
Travel & personnel expenses
Professional fees
Materials and supplies
Cost of goods sold
Interest on long-term debt
Contract services
Renovations and alterations
Utilities
Equipment rental and maintenance

2005

177,578
32,224
1,553
83,513
8,595
6,190
27,156
25,872
14,583
4,042
8,453
389,759

175,354
48,208
1,684
103,741
8,312
7,330
31,835
22,076
13,509
8,312
4,260
424,621

189,699
36,341
226,040

203,221
36,708
239,929

26,438
16,794
18,032
11,311
14,268
13,513
8,835
8,383
3,965
5,120
5,058
3,240

29,122
21,672
19,213
12,855
17,938
14,320
10,177
8,749
4,721
5,569
5,307
3,448

Grants to other agencies

Amortization of bond discount
Communications
Net revenue

3,099
1,331
365,427
24,332

4,836
289
1,441
399,586
25,035

Other useful information

2004
Graduate students enrolled at SFU
Undergraduate students at SFU
Total enrollment

3,337
22,098
25,435

2005
3,190
23,480
26,670

Simon Fraser University

BALANCE SHEET
Historical

2006

Forecast

2007

2008

2009

2010

2011

2012

ok

ok

ok

ok

73,305
31,050
1,973
3,540
109,868

33,940
14,811
2,050
3,484
54,285

29,426
16,944
1,563
2,294
50,227

-136,946
15,878
1,594
2,340
-117,134

-332,234
17,916
1,626
2,387
-310,306

-527,853
18,866
1,659
2,434
-504,894

-747,432
20,090
1,692
2,483
-723,166

265,196
600,693
10,497
986,254

300,635
699,932
0
0
1,054,852

352,731
767,267
3,066
0
1,173,291

289,781
811,089
3,127
0
986,864

326,959
857,801
3,190
0
877,644

344,310
886,576
3,254
0
729,245

366,647
936,755
3,319
0
583,554

56,868
8,796
65,664

43,874
7,345
51,219

48,923
11,158
60,081

67,063
7,963
75,025

69,952
8,042
77,994

73,636
8,123
81,758

78,391
8,204
86,595

33,122
159,410
46,664
276,366
14,665
595,891

34,869
152,560
46,165
324,676
16,710
626,199

36,729
157,674
58,719
363,776
17,904
694,883

60,497
159,251
48,297
381,212
18,262
742,544

62,965
160,843
54,493
403,166
18,627
778,089

66,568
162,452
57,385
416,691
19,000
803,853

71,264
164,076
61,108
440,275
19,380
842,697

13,881
41,941
225,164
280,986
147,667

3,160
36,619
261,727
301,506
176,902

85,108
159,212

-99,459
199,015

-293,524
218,916

-499,951
240,808

-20,331
95,383

182,332
277,715
132,979

390,363
986,254

428,653
1,054,852

478,408
1,173,291

244,320
986,864

99,555
877,644

-74,608
729,245

-259,143
583,554

INCOME STATEMENT
Historical

2006

Forecast

2007

2008

2009

2010

2011

2012

274,280

282,508

299,713

324,140

147,673

156,651

164,578

172,905

41,678
25,614
-23,981
11,038
6,667
482,969

43,345
26,382
17,986
11,259
6,800
544,932

45,079
27,174
18,885
11,484
6,936
573,849

46,882
28,533
19,829
11,714
7,075
611,078

209,920
46,916
2,209
113,604
7,984
8,696
36,949
19,555
19,829
9,208
4,138
479,008

203,536
62,017
1,902
118,330
6,894
8,774
38,048
27,395
20,492
9,454
4,890
501,732

211,811
60,941
1,528
125,450
7,341
9,202
40,075
25,614
19,185
10,822
6,536
518,505

233,436
42,315
275,751

242,634
45,195
287,829

258,900
49,387
308,287

421,953
78,061
500,014

439,160
81,245
520,404

464,291
85,894
550,185

497,045
91,953
588,999

31,758
22,896
22,785
15,745
14,613
17,030
11,092
7,933
7,276
9,751
7,130
3,992

39,873
23,802
24,734
15,540
16,703
14,595
11,218
6,888
8,226
12,313
6,796
4,620

41,858
25,828
25,810
17,837
17,683
15,246
12,163
10,316
10,135
8,411
7,801
5,098

38,637
25,317
25,317
16,878
18,037
15,551
12,659
9,460
10,338
8,579
7,957
5,200

43,595
26,350
26,350
17,566
18,397
15,862
13,175
9,555
10,544
8,751
8,116
5,304

45,908
27,857
27,857
18,572
18,765
16,179
13,929
9,651
10,755
8,926
8,278
5,410

48,886
29,823
29,823
19,882
19,141
16,503
14,911
9,747
10,970
9,104
8,444
5,518

5,978
288
1,468
455,486
23,522

4,695
298
0
478,130
23,602

5,018
298
0
511,789
6,716

5,118
304
0
699,367
-216,398

5,221
310
0
729,500
-184,567

Historical

2006
3,420
24,368
27,788

5,325
316
0
767,914
-194,065

5,432
323
0
817,505
-206,427

Forecast

2007
3,805
25,009
28,814

2008
3,981
26,332
30,313

2009

31,526

2010

32,787

2011

33,770

2012

34,783

2013
ok

-989,522
21,624
1,726
2,533
-963,639
394,632
998,085
3,385
0
432,463

84,437
8,286
92,723
77,282
165,717
65,772
469,100
19,767
890,361

-722,786
264,889

Confirmed as formulas
Look for comment

-457,898
432,463

2013
357,364

181,654

48,757
29,959
20,821
11,948
7,216
657,721

539,019
99,718
638,737
52,618
32,341
32,341
21,561
19,523
16,833
16,171
9,845
11,190
9,286
8,613
5,629

5,540
329
0
880,556
-222,835

2013

35,827

Simon Fraser University

Ratios and drivers
for the years ended March 31, 2008
CAD millions
Income statement
Faculty employed at SFU
Government grants & contracts per faculty member
FacultyGrowthPercent
GovernmentGrantGrowthPercent
Students enrolled at SFU
Tuition revenue per student
StudentEnrollmentGrowthPercent
TuitionRevenuePerStudentGrowthPercent
Sales of goods & services
Gifts, grants, and contracts
Investment income
SalesofGoods&ServicesGrowthPercent
Gifts,Grants,&ContractsGrowthPercent
InvestmentIncomeGrowthPercent

2005

Historic
2006

2007

2008

823
273,689
8.43%
-1.72%
26,670
4,476
4.86%
15.83%

871
297,411
5.83%
8.67%
27,788
4,688
4.19%
4.74%

911
293,584
4.59%
-1.29%
28,814
4,650
3.69%
-0.81%

942
291,168
3.40%
-0.82%
30,313
4,684
5.20%
0.73%

31,835
22,076
13,509
17.23%
-14.67%
-7.36%

36,949
19,555
19,829
16.06%
-11.42%
46.78%

38,048
27,395
20,492
2.97%
40.09%
3.34%

40,075
25,614
19,185
5.33%
-6.50%
-6.38%

2004
Confirmed as inputs
759
278,465

25,435
3,865

27,156
25,872
14,583

AmortizationofDeferredContributionsGrowthPercent
MiscellaneousIncomeGrowthPercent

ProfessionalFeesGrowthPercent
Materials&SuppliesGrowthPercent
ContractServicesGrowthPercent
Renovations&AlterationsGrowthPercent

Management Development Associates (NA) Inc. - 21317

Simon Fraser University

Ratios and drivers
for the years ended March 31, 2008
CAD millions
UtilitiesGrowthPercent
EquipmentRental&MaintenanceGrowthPercent
GrantsToOtherAgenciesGrowthPercent
AmortizationBondDiscountGrowthPercent
InterestonLongTermDebtPercentLongTermDebt
SalariesExpensePercentofGrant&TuitionRevenue
BenefitsExpensePercentofSalaries
ScholarshipExpensePercentofGrant&TuitionRevenue
OtherExpensePercentofGrant&TuitionRevenue
TravelExpensePercentofGrant&TuitionRevenue
AmortizationPercentRevenue
CostofGoodsSoldPercentofGrant&TuitionRevenue

2004

2005

Historic
2006

5.16%
61.26%
19.16%
5.42%
5.82%
3.65%
6.78%
2.85%

5.41%
58.97%
18.06%
6.29%
5.57%
3.73%
6.86%
2.95%

4.98%
59.96%
18.13%
5.88%
5.85%
4.04%
6.63%
2.85%

4.51%
60.44%
18.63%
5.93%
6.16%
3.87%
7.95%
2.79%

6.54%
62.19%
19.08%
6.20%
6.20%
4.28%
8.07%
2.92%

13.37
54.46%

14.55
57.32%

23.66
55.36%

10.77
59.92%
2.21%

11.93
68.03%
2.40%

22.45

38.10
6.12%
3.91%
83.07%

45.57
6.13%
5.52%
78.27%

33.49
8.62%
4.81%
77.15%

34.89
3.41%
7.08%
77.50%

2007

2008

Balance sheet
ReceivableDaysSalesBasis
InvestmentsPercentRevenues
DisposalsPercentofGrossAssets
InventoriesGrowthRate
PrepaidExpenseGrowthRate
PrepaidLeaseGrowthRate
PayableDaysExpenseBasis
RepaymentofLongTermDebtPercentOpeningLongTermDebt
CurrentPortionLongTermDebtPercentageLongTermDebt
EmployeeFutureBenefitsPercentBenefits

3.80%
75.62%

Management Development Associates (NA) Inc. - 21317

Simon Fraser University

Ratios and drivers
for the years ended March 31, 2008
CAD millions
DeferredContributionsPercentRevenues
DeferredContributionsforPropertyandEquipmentPercentPropertyandEquipment
DeferredLeaseProceedsGrowthRate
EndowmentGrowthRate

2004
11.80%
53.58%

2005
9.29%
50.61%

Historic
2006
9.74%
46.01%

2007
9.20%
46.39%

2008
11.32%
47.41%

13.55%

14.59%

11.05%

19.80%

Management Development Associates (NA) Inc. - 21317

2009

2010

Forecast
2011

942
291,168
0%
0%
31,526
4,684
4.0%
0.0%

942
299,903
0%
3%
32,787
4,778
4.0%
2.0%

970
308,900
3%
3%
33,770
4,873
3.0%
2.0%

999
324,345
3%
5%
34,783
4,971
3.0%
2.0%

1,049
340,562
5%
5%
35,827
5,070
3.0%
2.0%

4.0%
0.0%
-225.0%

4.0%
3.0%
-175.0%

4.0%
3.0%
5.0%

4.0%
5.0%
5.0%

4.0%
5.0%
5.0%

2.0%
2.0%

2.0%
2.0%

2.0%
2.0%

2.0%
2.0%

2.0%
2.0%

2.0%
2.0%
2.0%
2.0%

2.0%
2.0%
2.0%
2.0%

2.0%
2.0%
2.0%
2.0%

2.0%
2.0%
2.0%
2.0%

2.0%
2.0%
2.0%
2.0%

2012

2013

Management Development Associates (NA) Inc. - 21317

2009
2.0%
2.0%
2.0%
2.0%

2010
2.0%
2.0%
2.0%
2.0%

Forecast
2011
2.0%
2.0%
2.0%
2.0%

6.0%
100.0%
18.5%
6.00%
6.00%
4.00%
8.00%
3.00%

6.0%
100.0%
18.5%
6.00%
6.00%
4.00%
8.00%
3.00%

6.0%
100.0%
18.5%
6.00%
6.00%
4.00%
8.00%
3.00%

6.0%
100.0%
18.5%
6.00%
6.00%
4.00%
8.00%
3.00%

6.0%
100.0%
18.5%
6.00%
6.00%
4.00%
8.00%
3.00%

12
60%
2.40%
2.0%
2.0%
2.0%

12
60%
2.40%
2.0%
2.0%
2.0%

12
60%
2.40%
2.0%
2.0%
2.0%

12
60%
2.40%
2.0%
2.0%
2.0%

12
60%
2.40%
2.0%
2.0%
2.0%

35
5.00%
5.00%
77.50%

35
5.00%
5.00%
77.50%

35
5.00%
5.00%
77.50%

35
5.00%
5.00%
77.50%

35
5.00%
5.00%
77.50%

2012
2.0%
2.0%
2.0%
2.0%

2013
2.0%
2.0%
2.0%
2.0%

Management Development Associates (NA) Inc. - 21317

2009
10.00%
47.00%
2.0%

2010
10.00%
47.00%
2.0%

Forecast
2011
10.00%
47.00%
2.0%

-10.00%

25.00%

10.00%

2012
10.00%
47.00%
2.0%

2013
10.00%
47.00%
2.0%

10.00%

10.00%

Management Development Associates (NA) Inc. - 21317

Faculty employed
FacultyGrowthPercent
ForecastFaculty
Grants and contracts per faculty
GrantGrowthPercent
ForecastGrantsandContractsPerFaculty
ForecastGrantsandContractRevenue

$
$

2008

2009

2010

942
0%
942

942
0.00%
942

942
0.00%
942

291,168 $
0%
291,168 $

291,168 $
0.00%
291,168 $

$ 274,280,000

291,168
3.00%
299,903

$ 282,508,400

Scenario Summary: forecasted grants and contract revenue

Current Values:

Faculty employed
$G$4
$H$4
$I$4
$J$4
$K$4

0.00%
0.00%
3.00%
3.00%
5.00%

Grant growth percent

$G$8
0.00%
$H$8
3.00%
$I$8
3.00%
$J$8
5.00%
$K$8
5.00%
Result Cells:
$G$11
$ 274,280,000
$H$11
$ 282,508,400
$I$11
$ 299,713,162
$J$11
$ 324,139,784
$K$11
$ 357,364,112
Notes: Current Values column represents values of changing cells at
time Scenario Summary Report was created. Changing cells for each
scenario are highlighted in gray.
scenario are highlighted in gray.

$
$

Forecast
2011

2012

2013

942
3.00%
970

970.26
3.00%
999

999.3678
5.00%
1049

299,903 $
3.00%
308,900 $

308,900 $
5.00%
324,345 $

324,345
5.00%
340,562

$ 299,713,162

$ 324,139,784

$ 357,364,112

ts and contract revenue

Base case
Created by on
17/05/2009
Modified by on
17/05/2009

Best case
Created by on
17/05/2009
Modified by on
17/05/2009

Worst case
Created by on
17/05/2009
Modified by on
17/05/2009

0.00%
0.00%
3.00%
3.00%
5.00%

3.00%
3.00%
6.00%
6.00%
8.00%

-3.00%
-3.00%
0.00%
3.00%
3.00%

0.00%
3.00%
3.00%
5.00%
5.00%

3.00%
5.00%
7.00%
7.00%
7.00%

-3.00%
0.00%
3.00%
3.00%
3.00%

$ 274,280,000
$ 282,508,400
$ 299,713,162
$ 324,139,784
$ 357,364,112
values of changing cells at
d. Changing cells for each

$
$
$
$
$

290,983,652
314,698,820
356,931,401
404,831,595
467,823,392

$
$
$
$
$

258,070,052
250,327,950
257,837,789
273,540,110
290,198,703

Identified as inputs

Enrollment at SFU
EnrollmentGrowthPercent
ForecastEnrollment
Tuition Revenue Per Student at SFU
TuitionGrowthPercent
ForecastTuitionRevenuePerStudent
ForecastTuitionRevenue

$
$

2008

2009

2010

30313
0%
30313

30,313
4.0%
31,526

31,526
4.0%
32,787

4,684 $
0%
4,684 $

4,684 $
0%
4,684 $

4,684
2.0%
4,778

$ 147,672,720

$ 156,651,221

Scenario Summary: forecasted tuition revenue

Current Values:

Enrollment at SFU
$G$4
$H$4
$I$4
$J$4
$K$4

4.0%
4.0%
3.0%
3.0%
3.0%

Tuition growth percent

$G$8
2%
$H$8
2.0%
$I$8
2.0%
$J$8
2.0%
$K$8
2.0%
Result Cells:
$G$11
$ 150,626,174
$H$11
$ 159,784,246
$I$11
$ 167,869,329
$J$11
$ 176,363,517
$K$11
$ 185,287,511
Notes: Current Values column represents values of changing cells at
time Scenario Summary Report was created. Changing cells for each
scenario are highlighted in gray.
scenario are highlighted in gray.

$
$

Forecast
2011

2012

2013

32,787
3.0%
33,770

33,770
3.0%
34,783

34,783
3.0%
35,827

4,778 $
2.0%
4,873 $

4,873 $
2.0%
4,971 $

4,971
2.0%
5,070

$ 164,577,773

$ 172,905,409

$ 181,654,422

d tuition revenue
Base case
Created by on
17/05/2009
Modified by on
17/05/2009

Best case

Worst case

Created by on
17/05/2009
Modified by on
17/05/2009

0.04

4.0%
4.0%
3.0%
3.0%
3.0%

6.0%
6.0%
4.0%
4.0%
4.0%

2.0%
2.0%
0.0%
1.0%
1.0%

0%
2.0%
2.0%
2.0%
2.0%

2%
3.0%
5.0%
5.0%
5.0%

-2%
0.0%
1.0%
1.0%
1.0%

$ 147,672,720
$ 156,651,221
$ 164,577,773
$ 172,905,409
$ 181,654,422
resents values of changing cells at
s created. Changing cells for each

$
$
$
$
$

153,522,832
167,616,228
183,036,920
199,876,317
218,264,938

$
$
$
$
$

141,936,203
144,774,927
147,684,903
150,653,369
153,681,502

Capital forecasting
Historical

2004

2005

2006

2007

2008

2009

2010

Property and equipment

Gross
At 1st January
Acquisitions
Disposals
Gross value property and equipment

808,738
139,112
(20,474)
927,376

927,376
109,193
(24,324)
1,012,245

1,012,245
82,460
(24,294)
1,070,411

1,070,411
90,306
(25,690)
1,135,027

Accumulated depreciation
At 1st January
Current year's expense
Disposals
Accumulated depreciation, end of year

208,045
39873
(20,474)
227,444

227,444
41858
(24,324)
244,978

244,978
38,637
(24,294)
259,322

259,322
43,595
(25,690)
277,226

Property and equipment, net

699,932

767,267

811,089

857,801

Gross Value of property & equipment

Concrete buildings
Wood buildings
Site services
Leasehold improvements
Computer equipment
Equipment and furnishings
Library books
Special collections
Land and property rights

Estimated growth per year

ConcreteBuildingGrowthPercent
WoodBuildingGrowthPercent
SiteServicesGrowthPercent

2005
443,775
21,644
25,857
11,803
30,633
66,781
64,786
6,417
16,143
687,839

2006
535,366
23,294
33,011
11,902
29,953
82,402
68,493
6,549
17,768
808,738

2007
629,937
22,486
34,420
11,975
28,296
99,522
72,357
6,574
21,809
927,376

2008
686,496
22,567
35,017
11,869
32,494
110,250
76,300
7,151
30,101
1,012,245

2009
741,416
23,470
36,418
11,952
32,494
126,788
80,115
7,437
34,616
1,094,705

2010
800,729
24,408
37,874
12,036
32,494
145,806
84,121
7,735
39,809
1,185,011

2011
840,479
25,385
39,389
12,120
32,494
167,676
88,327
8,044
45,780
1,259,694

2005

2006
20.64%
7.62%
27.67%

2007
17.66%
-3.47%
4.27%

2008
8.98%
0.36%
1.73%

2009
8.00%
4.00%
4.00%

2010
8.00%
4.00%
4.00%

2011
4.00%
4.00%

Management Development Associates (NA) Inc. - 21317

LeaseholdImprovementsGrowthPercent
ComputerEquipmentGrowthPercent
EquipmentandFurnishingsGrowthPercent
LibraryBooksGrowthPercent
SpecialCollectionsGrowthPercent
LandandPropertyRightsGrowthPercent
2005
Planned capital additions
Buildings
TASC - Surrey
Renew Phase 2 - Chemistry
SFU Burnaby - Public Safety Building
SFU Burnaby - Art Gallery
TASC 3 - Burnaby

0.84%
-2.22%
23.39%
5.72%
2.06%
10.07%

0.61%
-5.53%
20.78%
5.64%
0.38%
22.74%

-0.89%
14.84%
10.78%
5.45%
8.78%
38.02%

0.70%
0.00%
15.00%
5.00%
4.00%
15.00%

0.70%
0.00%
15.00%
5.00%
4.00%
15.00%

0.70%
0.00%
15.00%
5.00%
4.00%
15.00%

2006

2007

2008

2009

2010

2011
2011
9,750

Management Development Associates (NA) Inc. - 21317

Long term debt

Movement in debt
Opening debt
Interest charge
Repayment
Closing debt

2004
162,567
0
162,567

2005
162,567
8749
9,941
161,375

2006
161,375
7933
9,898
159,410

2007
159,410
6888
13,738
152,560

2008
152,560
10316
5,202
157,674

Management Development Associates (NA) Inc. - 21339

2009
157,674
9,460
7,884
159,251

2010
159,251
9,555
7,963
160,843

2011
160,843
9,651
8,042
162,452

2012
162,452
9,747
8,123
164,076

2013
164,076
9,845
8,204
165,717

Management Development Associates (NA) Inc. - 21339

Scenario Planning Balance sheet Assumptions

Balance sheet
type

Balance sheet item

Cash & Short-Term Investments

5/4/2012

Assumptions

Adjusted to have assets equal liabiltiies plus net assets

Estimate days sales in accounts receivable to be 12 days.

Accounts receivable

Current assets

Inventories

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Prepaid expense

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Investments estimated to be 60% of revenues

Investments

Based on capital forecast

Property and equipment

Prepaid Lease

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Unamortized debt discount and

issue costs

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Accounts payable and accrued

liabilities
Current portion of long-term debt

Estimate days payable to be 35 days.

Estimate to be 5% of Long term debt

Current liabilities

Estimated to be 77.5% of Employee Benefits.

Employee future benefits

Based on Long term debt forecast

Long Term Debt

Deferred Contributions

Deferred contributions have historically been around 10% of total

revenues

Deferred Contributions for

property and equipment

Deferred contributions for property and equipment have

historically been around 47% of net property and equipment
balance

Deferred lease proceeds

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Operating
Internally restricted for
commitments

Net Assets

Developed by Nonprofits Assistance Fund, Minneapolis MN, for use by nonprofit organizations

www.nonprofitsassistancefund.org

Scenario Planning Revenue Assumptions

Income type

Salaries and
employee
benefits

Income item

5/4/2012

Assumptions

Province of British Columbia

BC government announced in December 2008 that provincial

funding would be decreased by 2.6% for all public universities and
colleges. Lower provincial funding should continue into 2010 as the
economy is expected to continue to underperform.

Government of Canada

Hiring freeze at SFU will prevent hiring of additional professors.

Other governments

Expect growth rate in grant revenue per faculty member to increase

in 2010 year and beyond as Dr. Pinto's strategic plan starts to bear
fruit.

Funding from all levels of government should increase in 2011 as

the economy should be better by then.

More people tend to attend University when the economy is doing

poorly. The recession is expected to linger on until 2010. New
programs offered at SFU, along with new downtown Vancouver
campus should also attract a greater number of students.

Credit courses

Once the economy picks up in the 2011 year, students will be

tempted to leave university and enter the workforce again. The
growth rate for enrollment should thus be expected to decline slightly
in the 2011 year and beyond.

Non-credit courses
Tuition

Revenue per student has been pretty constant. Tuition increases

not likely to occur due to their political unpopularity.

Other

Sales of goods and services

Gifts, grants, and contracts

Other

Investment income
Amortization of deferred
contributions: property &
equipment

Miscellaneous income

Alumni and other contributers will have less discretionary income

due to worsening economic conditions. The amount gifted to SFU
should be expected to continue to decline until the economy shows
positive growth again in the 2010/2011 year.
Loss on investments of between 20-30% is expected for 2009 year
due to worldwide recession. Market expected to rebound in 2010
year.
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year
Consistent with forecasting at other universities, revenues,
expenses, assets, and liabilities not specifically identified to grow at
2% per year

Grand total revenues

Developed by Nonprofits Assistance Fund, Minneapolis MN, for use by nonprofit organizations

www.nonprofitsassistancefund.org

Scenario Planning Expense Assumptions

Expense type

Expense item

5/4/2012

Assumptions

Estimated to be 61.5% of total revenue from government grants and

tuition.

Salaries

A decrease in salary expenses in the year 2009 compared to 2008 is

to be expected as there is currently a hiring freeze at SFU.
Additionally, 30 faculty and 50 other staff terminations should fruther
reduce salary costs in 2009.

Salaries &
wages

Employee benefits

Estimated to be 18.5% of salaries expense

Amortization of property & equipment

Estimated to be 8% of total revenues

Scholarships, bursaries, & prizes

Estimated to be 6% of revenue from government grants and tuition

Other operational expenses

Estimated to be 6% of revenue from government grants and tuition

Travel and personnel expenses

Estimated to be 4% of revenue from government grants and tuition

Professional fees

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Materials and supplies

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Cost of goods sold

Estimated to be 3% of revenue from government grants and tuition

Interest on long term debt

Interest charge of 6% of opening long term debt balance reasonable

based on past history

Contract services

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Renovations and alterations

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Utilities

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Equipment rental and maintenance

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Grants to other agencies

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Amortization of bond discount and issues costs

Consistent with forecasting at other universities, revenues,

expenses, assets, and liabilities not specifically identified to grow at
2% per year

Grand total expenses

Developed by Nonprofits Assistance Fund, Minneapolis MN, for use by nonprofit organizations

www.nonprofitsassistancefund.org

Key ratios

2004
Return on net assets
Net revenue
Net assets

$24,332
$311,392
7.81%

The return on net assets is:

2005

2006

$25,035
$350,101

$23,522
$390,363

7.15%

2007
$23,602
$428,653

6.03%

5.51%

CURRENT RATIO
Current Assets
Current Liabilities

$160,324
$28,652

$145,127
$48,031

$109,868
$65,664

$54,285
$51,219

5.59556

3.02153

1.67318

1.05986

$ 100,219.00
$ 26,438.00

$ 109,133.00
$ 29,122.00

$ 137,891.00
$ 31,758.00

$ 139,112.00
$ 39,873.00

The current ratio is:

Physical asset reinvestment ratio

Annual levels of capital expenditures
Depreciation expense
The physical asset reinvestment ratio is:

3.79

3.75

4.34

3.49

Tuition revenue per student

Total tuition revenue
Total enrollment

98,298
25,435

119,383
26,670

130,284
27,788

133,998
28,814

The tuition revenue per student is:

3,864.67

4,476.30

4,688.50

4,650.45

211,355 $
759

Grants and contract revenue per faculty

member
Total grant and contract revenue
Faculty members
The grant and contract revenue per
faculty member is:

$ 278,465.09

225,246 $
823

$ 273,688.94

259,045 $
871

$ 297,411.02

267,455
911

$ 293,583.97

2008

2009

2010

2011

2012

2013

($216,398)
$244,320

($184,567)
$99,555

($194,065)
($74,608)

($206,427)
($259,143)

($222,835)
($457,898)

-88.57%

-185.39%

260.11%

79.66%

48.66%

$50,227
$60,081

($117,134)
$75,025

($310,306)
$77,994

($504,894)
$81,758

($723,166)
$86,595

($963,639)
$92,723

0.83599

(1.56126)

(3.97858)

(6.17546)

(8.35116)

(10.39270)

$6,716
$478,408
1.40%

$ 99,212.00
$ 41,858.00

$ 82,459.81
$ 38,637.49

2.37

$ 90,306.19
$ 43,594.59

2.13

$ 74,683.11
$ 45,907.95

2.07

$ 99,064.85
$ 48,886.26

1.63

$ 113,948.04
$ 52,617.66

2.03

2.17

141,993
30,313

147,673
31,526

156,651
32,787

164,578
33,770

172,905
34,783

181,654
35,827

4,684.23

4,684.23

4,777.91

4,873.47

4,970.94

5,070.36

274,280 $
942

$ 291,167.73

274,280 $
942

$ 291,167.73

282,508 $
942

$ 299,902.76

299,713 $
970.26

$ 308,899.84

324,140 $
357,364
999.3678
1049.33619

$ 324,344.84

$ 340,562.08