The role of the Olds College Board of Governors In accordance with the Province of Alberta Post-Secondary Learning Act, “the Lieutenant Governor in Council may by order establish a public college or technical institute and shall designate the name of each public college or technical institute so established”. Thus, on February 15, 1978 upon the recommendation of the Honourable Minister of Advanced Education and Manpower, the Lieutenant Governor in Council established the provincially-owned institution known as “Olds College” and simultaneously established “The Board of Governors of Olds College”. The legislated eleven-member composition of the Olds College Board of Governors includes; one academic staff member nominated by the academic staff association, one student nominated by the council of the students’ association, one member of the non-academic staff, seven persons appointed by the Lieutenant Governor in Council and the President of Olds College.
established by the Minister of Advanced Education and Technology, setting out the mandate of Olds College. The statement is submitted to the Minister for approval. The responsibilities of the Board are to: • Direct, control, provide leadership and inspire the organization through the initiation of policies reflecting the Board’s Values, Vision, Mission and Outcomes; • Ensure, through the monitoring of executive performance, that the organization adds stakeholder value and improves its levels of success; • Identify advocacy issues and participate in building specific external relations; and • Approve its own budget These are the areas in which the Board, and only the Board, has assumed full responsibility. By setting clear Board Governance policies, the Board has developed a consistent plan for its operation – compelling the Board to remain focused on the critical challenges of providing vision and leadership.
The role of the Olds College Board is to represent the Citizens of Alberta in determining and demanding appropriate organizational performance. The Board deals primarily with facilitating the development of Values, Vision, Mission and Outcomes and then sets in place the appropriate measuring and monitoring mechanisms to ensure their achievement. The Board is required to prepare a statement in the form
Barry Mehr Chair Board of Governors
2010/2011 Olds College Budget Revenue The Olds College 2010/2011 budget reflects a 5.6% increase in revenue to $48.7 million. Virtually all of this growth is tied to $2.5 million in grants for provincially and federally funded infrastructure upgrades and “lights on” funding for the new Community Learning Campus (CLC) and Canadian Equine Centre for Innovation (CECI) facilities. The incremental infrastructure upgrade funding terminates March 31, 2011and is not reflected in future budgets. Minor grant increases are projected in the last two years of the Business Plan.
With the Capital Campaign successfully completed, the Office of Advancement has shifted their focus to fundraise for college operations. This new focus has resulted in a $1.0 million in cash and gift-in-kind fundraising target in the 2010/2011budget. This budget is exclusive of their ongoing commitment to fundraise for college endowments and annual student awards.
Olds College 2010/2011 Revenues Investment Earnings 1%
Amortization of Deferred Capital Contributions Donations 6% 2%
Sales, Rentals and Other Services 13% Tuition and Related Fees 12%
Provincial Grants 61%
Other Grants and Training Contracts 5%
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