Audit & Finance Committee Report to the BoardMay 7, 2013

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2

Revenue Profile1

CDN $000’sQ4 ‘13

Actual

Q4 ‘13

ForecastVariance

YTD

Actual

YTD

ForecastVariance

Learning Centre $469 $330 42% $1,3042 $1,165 12%

Core Courses $235 $178 32% $458 $402 14%

Executive Learning $132 $113 17% $573 $556 3%

Custom (Includes Events) $102 $39 62% $273 $207 32%

Advisory & Research $684 $783 -14% $1,867 $1,964 -5%

Aboriginal Governance $240 $272 -13% $426 $457 -7%

Public Sector $290 $258 12% $617 $584 6%

Modernizing Government $102 $208 -104% $581 $686 -18%

Not for Profit Sector $52 $45 16% $243 $237 3%

1 Results are un-audited2 Includes Events and Dialogue

Q4 Revenue Performance

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Advisory & Research impacted by: Deferral of UNDP Technical Mission to IRAQ

• Completed in April 2013 Deferral of Aboriginal Affairs – FNWWAP Eval

• To be delivered in Q1’ 13

Governance Laboratory impacted by: Increase in end of year money directed at:

• Day courses• Custom Policy courses • Communication boot camps

Statement Of Operations1

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CDN $000’sQ4 ‘13

Actual

Q4 ‘13

Forecast

Variance

%

YTD

Actual

YTD

Forecast

Variance

%

Gross Revenue $1,153 $1,116 3% $3,171 3,134 1%

Direct Costs2 $225 $216 -4% $659 $652 -1%

Direct Labour $506 $377 -34% $1,510 $1,380 -9%

Gross Profit $422 $523 -24% $1,002 $1,102 -10%

Gross Profit % 37% 49% - 32% 35% -

Overhead3 $140 $294 - $980 $1,134 -

Excess (Deficiency) of Revenue over Expenses

$282 $229-

$22 $(32) -

1 Results are un-audited2 Includes Subcontractors3 Net of Direct Labour