Financial Update April 2025 Analysis
This financial update for April 2025 covers various aspects including net operating surplus over the years, forecasted surpluses, impact of investment income, and targeted investments breakdown. The data provides insights into the financial performance and future outlook of the organization.
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Financial Update April 2025
Where weve come from and where we are today Agenda A look at other polytechnics in Alberta What we see coming
Where weve come from and where we are today
Net Operating Surplus (Deficit) over the years (in thousands) $50,000 $39,456 $39,456 $40,000 $30,000 $20,000 $13,235 $13,235 $7,149 $7,149 $5,629 $5,629 $10,000 $10,911 $10,911 $6,506 $6,506 $- $1,360 $1,360 $(2,616) $(2,616) $(10,000) $(6,146) $(6,146) $(5,638) $(5,638) $(12,213) $(12,213) $(20,000) $(17,860) $(17,860) $(30,000) 2015 2016 2017 2018 2019 2020 2021 (9 month fiscal period) 2022 2023 2024 2025 (Budget) 2025 (Current Forecast) $7,277 Land Grant included $22,723 Land Grant included
A look at our 2024-25 forecasted surplus (in thousands) $30,000 $25,000 Other Investments Other Investments, , $5,027 $5,027 Targeted Investments $20,000 Targeted Investments Targeted Investments , , $9,000 $9,000 IT Investments IT Investments , , $9,265 $9,265 $15,000 Q2 Forecast Q2 Forecast, , $14,800 $14,800 Q3 Forecast Q3 Forecast, , $13,235 $13,235 $10,000 Q1 Forecast Q1 Forecast, , $11,471 $11,471 $5,000 Budget Budget, , $1,360 $1,360 $-
The impact of investment income this year $30,000 Structural Surplus Structural Surplus, , $6,464 $6,464 $25,000 Other Investments Other Investments, $5,027 , $5,027 $20,000 Q3 Forecasted Q3 Forecasted Investment Income Investment Income, , $21,063 $21,063 IT Investments IT Investments , , $9,265 $9,265 $15,000 Q3 Forecast Q3 Forecast, , $13,235 $13,235 $10,000 $5,000 $-
Targeted investments breakdown (approx.) (in thousands) ITS Investments ITS Investments Classroom technology Level One Upgrade Replacing staff and lab computers that can t run Windows 11 (or just barely) Classroom projectors Cisco access point replacements Total Total Amount Amount $ 3,000 Other Operational Investments Other Operational Investments Miscellaneous academic needs Furniture Other facility and maintenance items Marketing & communications Total Total Amount Amount $ 2,038 1,250 1,485 4,185 254 1,200 880 $ 9,265 $ 9,265 $ 5,027 $ 5,027 Capital Investments Capital Investments General academic priorities Culinary arts Industry solutions Total Total Amount Amount $ 5,000 1,615 223 $ 6,838 $ 6,838
A look at other polytechnics in Alberta
How our revenues compare to other polytechnics in Alberta (2023-24 year) 2023-24 Revenue Source by Polytechnic Institute 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Student Alberta Advanced Education Other Alberta Government Other Provincial Government Federal Government Other Public Third Party (Excluding Donations) Donations & Fundraising Investment Lethbridge Polytechnic Northern Alberta Institute of Technology Northwestern Polytechnic Red Deer Polytechnic Southern Alberta Institute of Technology
How our expenses compare to other polytechnics in Alberta (2023-24 year) 1 of 3 2023-24 Expense by Primary Function by Polytechnic Institute 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% Approved Programs Non-Approved Programs Apprenticeship Programs Research Self-Generated Revenue Restricted Activities Extraordinary Items Lethbridge Polytechnic Northern Alberta Institute of Technology Northwestern Polytechnic Red Deer Polytechnic Southern Alberta Institute of Technology
How our expenses compare to other polytechnics in Alberta (2023-24 year) 2 of 3 2023-24 Expense by Shared Function by Polytechnic Institute 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Instructional Academic Support Student Support Administration Operational Computing and Communication Other Lethbridge Polytechnic Northern Alberta Institute of Technology Northwestern Polytechnic Red Deer Polytechnic Southern Alberta Institute of Technology
How our expenses compare to other polytechnics in Alberta (2023-24 year) 3 of 3 2023-24 Expense by Object by Polytechnic Institute 80% 70% 60% 50% 40% 30% 20% 10% 0% Salaries & Benefits Materials and Supplies Services and Professional Fees Facilities Maintenance, Utilities, and Tax Scholarships, and Bursaries COGS, and Cost Recoveries Debt Amortization Lethbridge Polytechnic Northern Alberta Institute of Technology Northwestern Polytechnic Red Deer Polytechnic Southern Alberta Institute of Technology
A quick look how our expenses compare to other polytechnics in Alberta (2023-24 year) Northern Northern Alberta Institute Alberta Institute of Technology of Technology $ 121,964.61 122,705.30 95,985.74 112,916.11 106,846.50 Southern Southern Alberta Institute Alberta Institute of Technology of Technology $ 104,266.10 112,720.97 108,956.40 117,337.93 109,564.29 Average Salary & Average Salary & Benefit Cost per FTE Benefit Cost per FTE Instructional Academic Support Student Support Administration Operational Computing and Communication Other Lethbridge Lethbridge Polytechnic Polytechnic $ 103,440.05 89,084.10 93,279.00 123,170.76 78,493.44 Northwestern Northwestern Polytechnic Polytechnic $ 113,252.63 101,645.34 84,351.72 125,768.06 96,823.28 Red Deer Red Deer Polytechnic Polytechnic $ 110,009.19 105,381.21 86,323.93 112,656.37 102,214.35 101,996.56 112,602.08 108,810.51 104,812.83 109,502.41 82,843.00 100,106.29 69,324.64 79,344.55 105,041.43
What we see coming
NAITs Budgeted Revenues 2025/26 (in thousands) $9,333 $9,333 2% 2% $16,978 $16,978 4% 4% Government of Alberta Grants Federal & Other Gov't Grants $34,619 $34,619 8% 8% $187,386 $187,386 45% 45% Student Tuition & Related Fees Sales, Rentals and Services Donations & Other Contribution Investment Income $165,779 $165,779 39% 39% $9,196 $9,196 2% 2%
2025/26 Student Tuition & Related Fees (in thousands, includes MNIFs) $14,664 $14,664 9% 9% $12,441 $12,441 7% 7% Domestic International Continuing Education Apprenticeship $66,141 $66,141 40% 40% $72,533 $72,533 44% 44%
NAITs Budgeted Expenses 2025/26 (in thousands) $15,698 $15,698 4% 4% $76,950 $76,950 18% 18% Instructional delivery Applied Research $172,366 $172,366 41% 41% Facilities operations & maintenance Academic & student support $79,523 $79,523 19% 19% Institutional support Ancillary services $59,522 $59,522 14% 14% $18,469 $18,469 4% 4%
Where weve been, where we are and what lies ahead $50,000 $39,456 $39,456 $40,000 $30,000 $20,000 $13,236 $13,236 $6,506 $6,506 $10,000 $1,360 $1,360 $664 $664 $- - -$2,616 $2,616 -$10,000 -$20,000 -$30,000 - -$27,925 $27,925 - -$33,274 $33,274 -$40,000 2022 Actuals 2023 Actuals 2024 Actuals 2025 Budget 2025 2026 Budget 2027 Forecast 2028 Forecast Q3 Forecast $7,277 Land Grant included $22,723 Land Grant included
Impact of IRCC announcements Domestic Tuition $80,000 $70,000 $60,000 $50,000 2024/25 2025/26 2026/27 2027/28 Our plan Our latest projections International Tuition $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 2024/25 2025/26 2026/27 2027/28 Our plan at this time last year Our 2025/26 budget Our latest projections
Looking at our forecasted deficit with the latest international projection $50,000 $40,000 $30,000 $20,000 $10,000 $- -$10,000 -$20,000 -$30,000 -$40,000 -$50,000 -$60,000 Cumulative 3-year deficit ($85,245) ($85,245) 2022 Actuals 2023 Actuals 2024 Actuals 2025 Budget 2025 2026 Budget -$1,059 $664 2027 Forecast -$11,154 -$27,925 2028 Forecast -$12,497 -$33,274 Q3 Forecast Estimated Additional Operating Deficit Net Operating Surplus -$2,616 $6,506 $39,456 $1,360 $13,236 $7,277 Land Grant included $22,723 Land Grant included
