1. Improving O PS P LANNING & B UDGETING Charter : Budget and Forecasting (FinPlan, FinFocus, FinCast, FinFuture, FinAll, FinTastic...) Date : Jan 25, 2010 Version 1.0

2. Table of Contents Project Charter –Business Rationale –Objectives –Deliverables –Scope –Stakeholders –Strategy –Resources –Project Governance and Processes –Risks and Assumptions –Preliminary Milestones and Schedule 9/18/2015 2 Budget and Forecasting

3. Business Reasons for Project Ministry requires BCIT to provide monthly forecasts that will support our financial stewardship and fiscal responsibility strategic initiative (Initiative 4 – Financial Stability – Item 20.1) Monthly budgeting will provide the timely information required to assist the decision making to support and implement the strategic plan Budget managers spend too much time preparing monthly forecasts BCIT’s current financial and reporting capabilities do not easily support monthly budgeting and forecasting New business intelligence platform (Cognos 8) can provide future KPI Dashboards and other modeling functionality to monitor the Institute’s performance Budget and forecasting is not as accurate, up-to-date and timely as required Prepare a foundation for multi-year budgeting and forecasting 9/18/2015 3 Budget and Forecasting

4. Objectives To enable monthly budgeting and use that for more efficient, effective and meaningful forecasting by August 31, 2010 To consolidate the budget, forecast and reports in one easy to use place by August 31, 2010 By March 31, 2011 approximately 50% reduction in budget preparation time and 1 Finance FTE will be redirected (time savings will come from subjective estimates as project progresses) To improve communication between the various stages of budget development by implementing an automated workflow approval process by August 31, 2010 9/18/2015 4 Budget and Forecasting

5. Product and Service Deliverables A new easy to use Institute wide budget and forecasting software system by May 30, 2010 Review of current processes and procedures that limit up-to- date, timely and accurate budgeting and forecasting data and information by March 31, 2010 Implementation of changes to current processes and procedures to support the collection of up-to-date, timely and accurate budgeting and forecasting data by June 30, 2010 External training for project team and internal training for budget managers by April 30, 2010 Plan for ongoing maintenance and support of Cognos TM1 by July 30, 2010 9/18/2015 5 Budget and Forecasting

6. Product and Service Deliverables A monthly (calendarized) 2010-11 budget by May 30, 2010 Six monthly forecasts by September 30, 2010 Analysis and plan for replacement of existing Cognos reports by April 30, 2010 A monthly 2011-2012 budget by November 30, 2010 9/18/2015 6 Budget and Forecasting

7. In Scope Planning and preparation for the 2011-2012 budget (to be decided by Steering Committee) Cash flow forecasting Actual, commitment and budget revenue and expenditure data for operational and designated funds Summary financial reporting model for revenue and expenditure items that can be used for Budget vs. Actual and Forecast to Forecast variance analysis Monthly rolling forecasting for the revenue and expenditure by Finance GL account 9/18/2015 7 Budget and Forecasting

8. In Scope Drill through to Finance transaction level detail Line item detail planning for expenses Workflow process for planning and forecasting approvals Changes to current policy, procedures and processes that may support better budgeting and forecasting Service Directors, Operation Managers and Finance Budget Office Those people currently providing budget to Institute 9/18/2015 8 Budget and Forecasting

9. Out of Scope Replacement or upgrade of the current Cognos 7 reporting environment Detailed revenue and enrolment planning – driver based modeling Detailed capital expense planning Collection of detailed workforce plan required for the annual planning process Workforce planning module by position/employee which will support the monthly rolling forecast and FTE calculations (i.e no HR or Position Control data) Revenue recognition for work in progress Custom modifications to TM1 software 9/18/2015 9 Budget and Forecasting

10. Stakeholders Finance Schools – Operations Managers IPAO IT Services Service Department Directors Entire Institute 9/18/2015 10 Budget and Forecasting

11. Strategy Use of IBM professional services is critical for success A BCIT Business Analyst will help with the policy, process and procedures Lorcan’s office will provide any required communication regarding any new financial policy, process and procedures Chris’s office will provide any required communication regarding any new operational planning policy, process and procedures Paul’s office will provide any required communication regarding any new educational operations policy, process and procedures General user community will not use software initially. Access to software and budget and forecast information will expand after project completion. 9/18/2015 11 Budget and Forecasting

12. Resources People Finance –Brenda O’Brien, Guntis Grikis, Mato Kulic, Mirela Pop VP Education – Janice Baldry IPAO – Brian Beacham Ops Mgrs – Susan Geddes, Sam Mulligan, Brenda Mason HR – Darlene Hodgson IT Services – Leo de Sousa, Ivan But, Peter Wong and Murray Smith, Anne Marie Johnston, Judy Shandler, Carmine Dimarco Resources Facilities – None Budget –160K for software –100K for IBM services –20K for IBM training Information –IBM Best Practises 9/18/2015 Budget and Forecasting 12

13. Project Governance and Processes Sponsor – Lorcan, Paul, Chris Steering Committee –Operations Planning and Budget Improvement Steering Committee 9/18/2015 13 Budget and Forecasting

14. Project Management Deliverables Draft Project Charter approved by sponsor and submitted to ITS Management by February 9, 2010 Detailed Scope, Schedule, Resources, Communications, Quality, Procurement and Risk Plans by February 16, 2010. Bi-weekly Status reports to Project Team and Sponsor starting February 9, 2010 Project Closeout Report including ‘Lessons Learned’ by October 31, 2010 9/18/2015 14 Budget and Forecasting

15. Threats and Opportunities 9/18/2015 15 Budget and Forecasting

16. Threats and Opportunities 16 Budget and Forecasting 9/18/2015 16

17. Assumptions IBM will provide consulting services and Cognos TM1 software will be used Hardware and software infrastructure for TM1 is currently available IBM will train BCIT staff by delegating some of the required project work (knowledge transfer) 9/18/2015 17 Budget and Forecasting

18. Preliminary Milestones and Schedule Charter, TM1 purchase and IBM consulting approved and signed off by February 9, 2010 Analysis of current systems and data by February 23, 2010 Draft design of TM1 data structure by March 16, 2010 Programming to create data structures by April 6, 2010 Annual budget loaded by April 30, 2010 Deploy TM1 software and train users by May 30, 2010 2010-11 budget calendarized by May 30, 2010 First draft forecast completed by June 30, 2010 Six monthly forecasts completed by September 30, 2010 2011-12 monthly budget created by December 15, 2010 Project close out by December 30, 2010 9/18/2015 18 Budget and Forecasting

19. Sign-off This project is agreed to by Sponsors Lorcan Paul Chris Project Manager Murray 9/18/2015 19 Budget and Forecasting