Themes – Strategic Exercise to Restore Financial Sustainability (SERFS)

Revenue Growth
Develop a methodology to evaluate opportunities for the College to increase revenues, consistent with our academic mandate while maintaining/improving reputation.

Cost Containment
Adjust the current budget management culture to focus on value for money, minimize annual growth of expenditures and enhance productivity leading to greater value for learners and clients.

Capital Asset Strategy
Implement a formal integrated college development planning process to identify future capital investment requirements and inform annual budget development.

Human Capital Strategy
Ensure Algonquin has the right people in the right jobs at the right time and at the right cost in order to fulfill the goals of our organization. An organization driven by data and employee support and where flexibility and agility are embedded in all of our workforce planning methodologies and People Plan strategy.

Portfolio Analysis
Ongoing review and adjustment to our program mix, lines of business and activities to maximize net revenues and ensure cross-subsidization is transparent, measured and monitored. Create processes and common approach for revenue generating areas of college to monitor and measure lines of business.

Continuous Improvement
Adapt our continuous improvement culture to put greater emphasis and measurement on financial sustainability through improved productivity and increasing value for our learners and clients.

Financial Management Governance Policy Framework
Establish clarity of the roles, responsibilities and authority for financial management decisions with appropriate safeguards and controls to support the long term sustainability of the College.

Partnership Strategy
Develop an overarching and integrated strategy for the development and management of partnerships.