BOARD of GOVERNORS Monday, April 28, 2014 Jorgenson Hall – JOR 1410 380 Victoria Street 5:00 P.M

Home , 28th Canadian Ministry, Jim Flaherty

Amended April 23, 2014

BOARD OF GOVERNORS Monday, April 28, 2014 Jorgenson Hall – JOR 1410 380 Victoria Street 5:00 p.m. to 7:30 p.m.

AGENDA TIME ITEM PRESENTER ACTION PAGE

5:00 1. IN-CAMERA DISCUSSION (Board Members Only)

END OF IN-CAMERA SESSION

5:30 3. INTRODUCTION

3.1 Chair’s Remarks Phyllis Yaffe Information

3.2 Approval of the April 28, 2014 Agenda Phyllis Yaffe Approval

5:35 4. REPORT FROM THE PRESIDENT Sheldon Levy Information 19-22

5:40 5. REPORT FROM THE SECRETARY Julia Shin Doi Information

Call for Nominations for Appointment of Chair 23

5:45 6. REPORT FROM THE PROVOST AND VICE PRESIDENT Mohamed Lachemi Information 24-26 ACADEMIC

7. DISCUSSION ITEMS

5:55 7.1 Report from the Chair of the Finance Committee Mitch Frazer

2014-15 University Budget Sheldon Levy Approval 27-82 Mohamed Lachemi Paul Stenton Janice Winton

6:40 7.2 Report from the Chair of the Employee Relations Jocelyne Cote-O’Hara and Pension Committee

(a) Funded projections and Valuation Assumptions of the Sheldon Levy Approval 83-111 Ryerson Retirement Pension Plan (RRPP) January 1, Christina Sass-Kortsak 2014

(b) Ryerson Retirement Pension Plan Amendments Christina Sass-Kortsak Approval 112-124 Amendments to the Ontario Pension Benefit Act

7:00 7.3 Ryerson Performance Indicators – March 2014 Paul Stenton Information 132-156 Presentation

8. CONSENT AGENDA

8.1 Approval of the March 31, 2014 Minutes Phyllis Yaffe Approval 157-163

9. FOR INFORMATION

9.1 Ryerson Achievement Report Information 164-169

10. DATE OF NEXT MEETING – Executive Committee Meeting May 26, 2014

7:30 11. TERMINATION Phyllis Yaffe

Ryerson University President’s Update to the Board of Governors April 28, 2014

Ryerson President's Statement on the Death of Jim Flaherty – The following tribute was posted on the Ryerson website following the news on April 10, 2014: “Ryerson University is united in sadness at the sudden passing of The Honourable Jim Flaherty, a great Canadian and passionate promoter of our nation’s character and leadership. His service to our province and country steered a strong and steadfast course, recognizing opportunity and earning international respect for decisions taken with courage and deliberation in times of economic challenge. He believed fundamentally and energetically in the talent and ingenuity of students and researchers, a culture of inclusion, and the strength of Canadian ideas and innovation to have a global impact. He was, for his end-to-end joy in the game, the standout player who always gave his best. On behalf of everyone in the Ryerson community, we extend heartfelt condolences to his family, with kindest thoughts and caring support.”

Spring Convocation 2014 Honorary Doctorates – I am pleased to share the list of honorary doctorate recipients for Spring 2014, and extend thanks to everyone involved in preparing the nominations, and the Awards and Ceremonials Committee for its work. It has been a pleasure to connect with the nominees, who have accepted with enthusiasm and pride. Faculty of Arts Roy McMurtry - Former Chief Justice of Ontario, High Commissioner to Great Britain and Attorney General for Ontario; Doctor of Laws Faculty of Community Services Mary Jo Haddad – Past President and CEO, The Hospital for Sick Children; Doctor of Laws Faculty of Communication & Design Brian Stewart – Foreign Affairs Correspondent; Doctor of Journalism Jack Rabinovitch – Cultural, business and community leader; Doctor of Letters Faculty of Engineering & Architectural Science Christopher Hume – Toronto Star architecture critic and urban issues columnist, Doctor of Laws Ted Rogers School of Management Peter Oliver – Restaurateur and founder of The Stephen Leacock Foundation; Doctor of Laws

New Ryerson Carillon – For nearly fifty years, Wayne Detcher, (Electrical Technology '64) and former CJRT technician, has played the carillon at Convocation for graduates and guests. This year a new carillon will be part of the ceremonies, thanks to support for the wonderful tradition from alumni and the university community.

2014 Engineering Bug Push – The event held on March 12-13th this year will go down in history for harsh winter conditions and -24 temperatures overnight. It will also recognize the perseverance and extraordinary courage of students whose dedication said, in a remarkable way, that kids at SickKids are brave every day – and we can conquer the winter for them. Ryerson students continue to lead by example, in raising close to $25,000 to date for the Sick Kids Foundation.

Board of Governors Meeting April 28, 2014 - Page 19

Athletics Awards – The year-end event celebrating our student-athletes, coaches and support staff for their performance, dedication and contributions to the community continues to grow in distinction, spirit and professionalism. This year it was the best ever, superbly organized and hugely well attended, showing how far we have come in advancing this dynamic part of our university culture and character. I would like to express congratulations and thanks to Ivan Joseph, Director of Athletics, for inspiring the standard, passion and confidence that honours Ryerson and makes us proud to be members of the “Ramily.” This year included the following amazing progress and highlights:

Ontario University Athletics (OUA) Major Awards: • Coach of the Year – Ivan Joseph (Men’s Soccer), Graham Wise (Men’s Hockey) • First-ever sweep of OUA male Rookie of the Year Awards – Cameron Galea-Andrews (Soccer), Adam Anagnostopoulos (Volleyball), Jean-Victor Mukama (Basketball), Domenic Alberga (Hockey) • OUA East Most Valuable Player – Alex Braletic (Soccer) • OUA East Libero of the Year – Julie Longman (Volleyball) • 16 OUA First Team All-Stars, 6 OUA Second Team All-Stars, 5 OUA All-Rookie Team • OUA Championship Medals – 13 Individual, 2 Team (Men’s Soccer – Silver; Figure Skating Bronze) Canadian Interuniversity Sport (CIS) Awards/All-Canadians: • CIS Player of the Year, First Team All-Star – Alex Braletic (Soccer) • R. W. Pugh Fair Play Award – Ryerson Men’s Soccer • All-Rookie Team – Adam Anagnostopoulos (Volleyball), Domenic Alberga (Hockey) • Second Team All-Stars – Jamie Wise (Hockey)

Research and Social Innovation – Ryerson is shaping the conversation on current challenges. Recent examples having an impact and attracting media and community attention include: • Breast Cancer Technology – WaveCheck, a non-invasive, image-guided technology that has shown promise as way to monitor tumour response to chemotherapy treatment has been awarded a $100,000 catalyst grant from the Ontario Institute for Cancer Research (OICR). With help from OICR funding, forty women will participate in a clinical study, twenty at Sunnybrook Hospital, and twenty at the University of Texas MD Anderson Cancer Center. The funding will make it possible for the inventors of the technology, Dr. Gregory Czarnota, director of the cancer research program at Sunnybrook Research Institute and chief of Radiation Oncology at Sunnybrook's Odette Cancer Centre, and Dr. Michael C. Kolios, professor of Physics and Canada Research Chair in Biomedical Applications of Ultrasound at Ryerson, will collect the data to refine the technology and show that the clinical technique consistently produces the same results, extending use to other world-leading cancer clinics. Two additional partner study sites are planned with Princess Margaret Cancer Centre and London Health Sciences Centre. • Ryerson Centre for Cloud and Context-Aware Computing (RC4) – Close to 130 government partners, researchers, and representatives from private industry and start-ups learned about the latest development in Ryerson’s research and innovation strategy at an open-house event held on March 25th, 2014. Technologies being developed at RC4 are

Board of Governors Meeting April 28, 2014 - Page 20 already transforming the way industries operate, including manufacturing, transportation, health, public safety and consumer applications. RC4 has a hub at Dundas and Yonge, and three nodes on campus: the Ryerson Transmedia Centre, the recently founded Advanced Manufacturing and 3D Printing Lab, and the Ryerson Ubiquitous and Pervasive Computing Lab (UPCL). The centre focuses on mobile technologies, predictive software, and Internet connectivity to customize content delivery to meet user needs. With funding support received from the Federal Economic Development Agency for Southern Ontario, the centre’s mission is to create knowledge, commercialize research, create jobs, and stimulate performance and productivity. RC4 currently has more than 50 researchers, companies and industry partners working across multiple disciplines. • Women in Leadership and Business & Born to Lead Youth Leadership Conference – Ryerson University was a Platinum Sponsor at the 4th Annual Women in Leadership and Business (WIL-B) and the inaugural Born to Lead (B2L) Youth Leadership Conference held March 31st to April 1st. Conference Founder Ildi Wiley, President of Results Continuum Inc. indicated partnering with Ryerson was “a perfect fit as they have an unmatched reputation for innovation, diversity, and leadership excellence." B2L was Canada's first youth leadership conference for emerging female leaders and entrepreneurs, attended by over 200 young women from high schools, colleges, and universities across Ontario. The conference was emceed by Ryerson graduates Krysten Connely (MA Communication & Culture ’13), Research Assistant at the Diversity Institute, and Connie Bannister (MBA ‘12), Special Projects Coordinator, Office of the Vice-President, Research and Innovation. A session led by Mark Patterson, Director, Ryerson Research Partnerships, presented WhoPlusYou, a community engagement platform developed at Ryerson and being launched across Ontario that connects people with the right opportunities that match their interests and talent. Conference delegates included Ryerson students from various disciplines, students from Pathways to Education, and graduates of the Ryerson Summer Company program. from the President’s Calendar March 17, 2014: Ryerson hosted a visit by Mr. Anne Gerard van Leeuwen, Consul General of the Netherlands, to discuss partnership opportunities. March 18, 2014: Galen Weston Jr., Executive Chairman Loblaw Companies Limited, was on campus for a visit to the Digital Media Zone. March 24, 2014: Dr. Meric Gertler, President and Vice-Chancellor, University of Toronto, visited Ryerson for a Digital Media Zone tour. March 25, 2014: Following up our India mission, we met with Canadian High Commissioner Stewart Beck, joined by Board member Nadir Mohamed, Chair of Ryerson Futures, to discuss how we can continue to expand opportunities to work together. March 26. 2014: It was an honour to host our annual lunch with the Professor Emeritus Group. March 27, 2014: Led by Chancellor Bloomberg, we welcomed John Foresi and Elizabeth Hugessen of WPO (World Presidents’ Organization) for a discussion followed by lunch at the Digital Media Zone. March 27, 2014: I was pleased to be invited to speak at the Good Neighbour’s Club Annual General Meeting on partnership and university support for the community.

Board of Governors Meeting April 28, 2014 - Page 21 March 28, 2014: The Blue & Gold Ball has been brought back as a highlight of the annual Ryerson calendar, thanks to the superb organization, talent and teamwork of the students. March 29, 2014: We were proud to attend the 5th Annual University of the West Indies (UWI) Toronto Gala, with Chancellor Emeritus G. Raymond Chang as Patron, and honoured to hear many very positive remarks about Ryerson. April 1, 2014: Ryerson is meeting with Saäd Rafi, Chief Executive Officer of the Toronto 2015 PanAm/ParapanAm Games, to discuss areas of Ryerson involvement. April 7, 2014: Ryerson hosted a visit from Matthew King, Deputy Minister Fisheries and Oceans, and our partner in the federal DM-University champions program, including a meeting with students and faculty in politics and public administration programs. April 9, 2014: We welcomed Executive Assistants to university presidents from across Canada to a campus visit and DMZ tour, acknowledging the importance of their vital role. April 10, 2014: Provost Mohamed Lachemi and I hosted a delegation from IIT-Hyderabad led by director Dr. Uday Desai, including a visit with engineering faculty to discuss partnerships and collaborative opportunities. April 10, 2014: Ryerson hosted a table at the 27th Annual Public Policy Forum Testimonial Dinner and Awards held at the Metro Toronto Convention Centre.

Board of Governors Meeting April 28, 2014 - Page 22 CONFIDENTIAL ADVICE TO THE BOARD OF GOVERNORS

BOARD OF GOVERNORS MEETING April 28, 2014 Meeting In Camera

AGENDA ITEM: Protocols for the Election of the Chair of the Board

STRATEGIC OBJECTIVES: _____ Academic _____ Student Experience _____ Space Enhancement _____ Reputation Enhancement _____ Financial Resources Management _____ Compliance (e.g. legislatively required) __X__ Governance

ACTION REQUIRED: Call for Nominations

SUMMARY:

At the May 27, 2013 Executive Committee meeting Phyllis Yaffe was re-appointed Chair of the Board. At that time Ms. Yaffe agreed to stand as Chair for a one year term and as a result will be stepping down from her role as Chair on May 26, 2014. Below is the sequence of events required to elect a new Board Chair. The newly elected Chair shall be elected to fill the balance of the unexpired term of office of his or her predecessor and shall take office at the expiry of the meeting at which he or she was so elected.

April Board Meeting - Call for nominations for Chair May Board Meeting - Close of nominations for Chair

BACKGROUND: Pursuant to Section 12.1 of the By-laws, the Secretary shall declare nominations to be open to fill the position of Chair at the regular Board meeting held in the month of April every three years. Nominations for the position of Chair shall be accepted by the Secretary at a specified time at the next following regular Board meeting held in the month of May.

PREPARED BY: Name: Julia Shin Doi, General Counsel and Secretary of the Board of Governors Date: April 28, 2014

Board of Governors Meeting April 28, 2014 - Page 23 Ryerson University Board of Governors Provost and Vice President Academic Report for meeting of April 28, 2014

Appointments – • Dr. Thomas Duever has been appointed the new Dean of the Faculty of Engineering and Architectural Science (FEAS) for a five-year term beginning August 1st, 2014. Dr. Duever is a highly respected senior academic administrator, award-winning teacher, and internationally recognized scholar and researcher who joins us from the University of Waterloo. Among his achievements at Waterloo, he was instrumental in the multidisciplinary nanotechnology undergraduate program, the only one of its kind in North America, the growth of master’s and doctoral programs, and the establishment of the University of Waterloo Dubai campus in the United Arab Emirates. He oversaw the creation and realization of ‘E6’ – the dedicated, 5,400 square metre state-of-the art chemical engineering research building – and the move of faculty members into Waterloo’s renowned Quantum Nano Centre. Sincere thanks for excellent service to Interim Dean Sri Krishnan, and to the members of the search committee. • Dr. Marie Bountrogianni has been appointed Dean of The G. Raymond Chang School of Continuing Education effective July 1st, 2014. Dr. Bountrogianni has served as Interim Dean since July 1st, 2013. She brought her experience in academic, political and social service to The Chang School in 2011 as a distinguished visiting scholar, and was appointed a research fellow in 2012. Her focus on employment opportunities for Canadian youth, immigrants and persons with disabilities actively engages partners in connecting research to results. A former Ontario cabinet minister in several portfolios, she introduced the Accessibility for Ontarians with Disabilities Act (AODA) which established Ontario as a world leader in accessibility. Her teaching at Ryerson includes political psychology and guest lecturing in a number of courses, conferences and events, as well as having taught previously at McMaster University, Wilfrid Laurier University, Seneca College and the Ryerson School of Early Childhood Education. Sincere thanks are extended to members of the search committee. • Dr. Ann Cavoukian, Ontario Information and Privacy Commissioner and Distinguished Visiting Professor at Ryerson, has been appointed Executive Director of the new Ryerson University Institute for Privacy and Big Data effective July 1st, 2014. The Institute, which will be housed within the Faculty of Science, is an important component of the university’s strategies and initiatives in big data, embedding privacy by design in the development of technologies, education and training, collaboration with industry, innovation and commercialization and providing an incubation platform for start-up companies to utilize technologies for new markets and applications. Canadian Open Data Experience (CODE) – The first national Open Data hackathon, organized by mobile gaming giant XMG Studio Inc. and supported by the Government of Canada, saw more than 900 participants from across the country connecting remotely to participate, and at hubs such as OneEleven in Toronto. The 48-hour competition held from February 28th to March 2nd 1

Board of Governors Meeting April 28, 2014 - Page 24 challenged postsecondary students, entrepreneurs and innovators to develop applications using federal government data from the Canadian Open Data Portal (www.data.gc.ca) with the goal of improving the lives of Canadians. At the end of the hackathon period, participants submitted their completed applications online to be evaluated. On March 28th, as a member of the judging panel, I joined The Honourable Tony Clement, President of the Treasury Board of Canada, in selecting the winner of the CODE event at the Grand Finale. Ryerson is the founding academic partner of OneEleven, Canada’s first accelerator for data-driven entrepreneurs.

Academic Development – Jack Layton School for Social Activists – For the first time this summer, students will be offered the opportunity to attend a one-week intensive course being developed by Ryerson politics professor and inaugural Jack Layton Chair, Dr. Myer Siemiatycki, in collaboration with street nurse Cathy Crowe, Distinguished Visiting Practitioner at Ryerson. The idea grew out of a letter written by the former federal NDP leader in which he expressed his confidence that young people would rise to the challenge of making their city, country and the world a better place. The course is intended to attract about twenty participants from 18-29 years of age who have already demonstrated a commitment to activism around a cause or issue, and will cover the political process, public finance and economics, and topics responding to student interests such as environmentalism and aboriginal issues. It will also teach communication skills such as media outreach, effective use of social media, and mounting and running a successful protest campaign including ways of getting a “message of concern” out to a broader audience. The summer school adds to the activities of the Jack Layton Chair including the annual Jack Layton Lecture and the Jack Layton Book Club, initiatives developed and held in honour of the late NDP leader and Ryerson colleague. Distinction and Achievement – • Peter Bregg, School of Journalism, is being honoured by the Canadian Journalism Foundation with a Lifetime Achievement Award for broad-ranging professional distinction, travelling to more than 70 countries and covering eight Olympic games, the World Series, the Vietnam War in 1973, the Iran hostage crisis in 1979-80 and the 9/11 terrorist attacks in New York in 2001. He worked as a photographer and editor for the Canadian Press (CP) and Associated Press in London, Boston, Ottawa, New York, and Washington, DC, was the official photographer to Prime Minister Brian Mulroney and spent two decades with Rogers Publishing working with Maclean’s Magazine and then with HELLO! He will be the first photographer to receive the Canadian Journalism Foundation’s Lifetime Achievement Award. • Professor Ramona Pringle, RTA School of Media, had Avatar Secrets, her multimedia project exploring the complexities of human connection in the wired world, selected by the Canadian Media Fund as one of six to be featured in the ‘Spotlight on Canada’ at this year's MIPDoc at the Cannes Film Festival from April 11th-15th. MIPDoc is the world's leading international documentary market. • Dr. David E. Smith, F.R.S.C. (Doctor of Letters honoris causa ’10), Distinguished Visiting Scholar with the Faculty of Arts Department of Politics and Public Administration, is a 2014 finalist for Across the Aisle: Opposition in Canadian Politics in the annual Canada Prizes to be awarded May 7th for the best scholarly books in the humanities and social sciences.

Board of Governors Meeting April 28, 2014 - Page 25 • MBA students Alexander Dias and Katherine French won the 2014 Canada’s Next Top Ad Execs competition, driving away two fully loaded 2014 Camaros as first prize for their GM Corvette Stingray ad campaign. The team was selected over 251 teams from 38 schools across the nation, judged by industry leaders in a test of professional knowledge and marketing talent that showcased the Ryerson signature in connecting education to real life. • Alanna Mager, Masters of Professional Communication (MPC), is a Top 25 finalist in the 2nd annual SSHRC Research for a Better Life: The Storyteller's Challenge. Students from across the country were asked to demonstrate—in three minutes or 300 words—how a SSHRC-funded research project at their institution is making a difference in the lives of Canadians. The Ryerson podcast featured a narrative exploring the intriguing implications of the work being done by Dr. Matthew Tiessen, entitled “Visions of the Gamocracy.” The Top 25 finalists were selected from among nearly 150 entries by a judging panel and receive a prize of $3,000, attendance at the 2014 Congress of the Humanities and Social Sciences, and the chance to become one of the Final Five Storytellers at the SSHRC Impact Awards ceremony this fall. • Engineering and science students Mahmoud Al-Fayez, Mo'tasem Aljawhary, Yousuf Faroqi, Osama Al-Mohammedi, and Shahid Quraishi won 2nd Place in the 2014 American Concrete Institute (ACI) Fiber-Reinforced Concrete Bowling Ball Competition in Reno, Nevada – the only team to win in both the technical performance category and the poster presentation category providing an explanation of their approach and their results. • Ryerson teams placed 1st and 3rd in the Second Annual Evolve Sustainable Design Challenge hosted by RBC Royal Bank and B+H Architects. A competition for postsecondary students in architecture, engineering and related programs in Canada, this year teams were asked to design a net-zero energy and water-optimizing sports research facility. Members of the 1st place team are architectural science students Victor Huynh, Kevin Kyung Lee, Kiwoon Oh, Lydon Whittle and Nikita Yakushev; and 3rd place team members are Anna Kobeleva, Tom Kowalczyk, Courtney Nicholson, Annie Pavia, Anusha Ramesh and Tiffany Tse. Professor Vera Straka, Department of Architectural Science, guided both teams as faculty advisor. • Muhammad Ali Naqvi, Molecular Science PhD student, is the winner of the Ryerson three minute thesis competition, a challenge in which graduate students present complex research in an engaging, accessible and compelling way, using only one static slide. The competition is open to the public and is advertised within the community, enabling students to showcase their research to a wider audience, and providing a unique opportunity to communicate the innovative and significant research undertaken by graduate students at Ryerson. This year’s judges were Chancellor Lawrence Bloomberg, Dr. Heather Lane Vetere, Vice-Provost, Students, and Dr. Jean Mason, Associate Dean, Faculty of Communication & Design. The Ryerson finalist goes on to the Ontario level hosted by McMaster University on April 24th, for a chance to participate in the 1st Canadian national 3MT competition hosted by the University of Manitoba.

Board of Governors Meeting April 28, 2014 - Page 26

BOARD OF GOVERNORS MEETING - APRIL 28, 2014

AGENDA ITEM: 2014-15 University Budget

STRATEGIC OBJECTIVES:

X_ Academic Student Experience Space Enhancement X_ Reputation Enhancement X_ Financial Resources Management Compliance (e.g. legislatively required) X_ Governance

ACTION REQUIRED: Approval

SUMMARY: The recommended University Budget for 2014-15 is a balanced budget. It promotes the University’s five strategic priorities: high quality, societally relevant undergraduate and graduate programs; student engagement and success; learning and teaching excellence; scholarly, research and creative (SRC) activity; and, reputation enhancement.

BACKGROUND:

The 2014-15 Budget continues the momentum on the University’s strategic priorities. To balance the budget, while supporting these strategic priorities and covering inflationary costs and salary costs, it is recommended that: overall average tuition fees increase by 3% in 2014-15, there be a 2% across-the-board base budget reduction, of which 1% or $3.7 million is reallocated as base strategic budget allocations, and there be $21.9 million in OTO strategic allocation expenditures.

COMMUNICATIONS STRATEGY: N/A

PREPARED BY:

Name: Paul Stenton, Deputy Provost and Vice Provost, University Planning Janice Winton, Assistant Vice-President, Financial Services Date: April 17, 2014

APPROVED BY:

Name: Mohamed Lachemi, Provost and Vice President Academic Julia Hanigsberg, Vice President Administration and Finance Date: April 17, 2014

Board of Governors Meeting April 28, 2014 - Page 27 2014-15 Budget Priorities and Expenditures

Finance Committee, Board of Governors

Ryerson University April 17, 2014

Board of Governors Meeting 1 April 28, 2014 - Page 28 Overview

Page

I. Budget Development Process 3

II. 2013-14 Progress Report on 2013-14 6 III. 2014-15 Budget 2014-15 Operating Budget Context 12 2014-15 Operating Budget: Incremental Revenue 21 2014-15 Operating Budget: Strategic Priorities 25 2014-15 University Operating Budget 32 2014-15 University Consolidated Budget 34 IV. 2014-15 Fees 2014-15 Fees Schedule 38 Board of Governors Meeting 2 April 28, 2014 - Page 29 I. Budget Development Process

Board of Governors Meeting Budget Development Process 3 April 28, 2014 - Page 30 Budget Development Process

• November: Academic and administrative units asked to prepare budget submission. • January: Academic and Administrative units submit: 1. Outline of how strategic allocations from previous budget cycle were spent 2. Outline of how unit will implement required base budget reduction (originally estimated at 3%) 3. Request for strategic reallocation funding where needed • February/March: Multiple discussions of budget submissions with Macro Planning Committee. Community budget consultations. • March/April: Preparation of University budget based on budget consultation process for approval by President and Board of Governors.

Board of Governors Meeting Budget Development Process 4 April 28, 2014 - Page 31 2014-15 Budget Briefings and Consultations

• Consultations and briefings held through Town Halls and meetings with Senate, Vice Presidents, Deans, academic Chairs and Directors, union leadership, students.

• Key discussion points in consultations: • Financial situation facing Ontario universities • Parameters for operating revenue and expenditures • Strategic approaches to promoting University’s priorities

Board of Governors Meeting Budget Development Process 5 April 28, 2014 - Page 32 II. 2013-14 Progress Report on 2013-14

Board of Governors Meeting 2013-14 Progress Report 6 April 28, 2014 - Page 33 2013-14 Overview

Fiscal Situation: Balanced budget. Enrolment: Significant increase in fully-funded enrolment over plan +5.7% or 1,585 FTE. Revenue: After direct costs covered, $11.9M OTO funds as carry-forward to 2014-15 from enrolment growth and in-year cost savings. Programs: Launched six new programs. Zone Learning: Created optional specialization in zone learning. This helped generate revenue. SRC: 10% increase in external research grants to $35.5 million. Currently ranked 11th in non-medical universities in Canada. New Partnerships: Bombay Stock Exchange Institute; OMERS Ventures and Ontario Centres of Excellence, Ashoka Changemaker Campus Core Performance Measures: All metrics on target except for slight dip in Master’s completion. Strategic Mandate Agreement: Signed SMA with Government.

Board of Governors Meeting 2013-14 Progress Report 7 April 28, 2014 - Page 34 Overview of Enrolments for 2013-14

ENROLMENT (Undergraduate FFTEs; Fall Graduate FTEs)

Estimated Budgeted Difference Comments Actual Increase in intake beyond Undergraduate target levels and retention, 29,485 +1,585 or 5.7% 27,900 resulting in additional fully- funded enrolment growth.

Graduate Enrolment remains slightly 1,772 +2 or +0.1% 1,770 above funded levels.

Board of Governors Meeting 2013-14 Progress Report 8 April 28, 2014 - Page 35 Year-end Status of Expenditures and Revenues for 2013-14

OPERATING EXPENDITURES Expenditures within Budget. OPERATING REVENUES $11.0M April 2013 OTO year-end funds $11.9M April 2014 OTO year-end funds = $0.9M MORE AVAILABLE TO ALLOCATE IN 2014-15 THAN 2013-14

Board of Governors Meeting 2013-14 Progress Report 9 April 28, 2014 - Page 36 Strategic Priorities Implementation 2013-14

High quality, • Successful launch of undergraduate programs in Creative Industries, societally relevant Professional Communication, Financial Mathematics, Real Estate undergraduate & Management, Biomedical Science, Philosophy; Masters program in Digital Media; Certificate in Aboriginal Knowledges and Experiences. graduate programs Student • Optional Specialization in Zone Learning for DMZ and CUE, and pilot zones engagement and in Fashion, Design/Fabrication, and Transmedia. success • Change in Senate’s “Clear Standing” policy, resulting in increased retention. Learning & • Expansion of open electives pilot project. teaching excellence • Structured redesign of course delivery with guidance from National Center for Academic Transformation (NCAT), and enhancement of curriculum mapping and analysis application. Scholarly, Research • In 2013-14 reached estimated $35.5 million in external research funding and Creative (10% increase from 2012-13) Activity • Research partnerships and collaborations to sustain funding and impact. Reputation • Make Your Mark Campaign continued. enhancement • New partnerships: OMERS Ventures and Ontario Centres of Excellence; Bombay Stock Exchange Institute, India; DMZ fellowships with four leading South African universities. • Named Canada’s first Changemaker Campus by Ashoka Foundation.

Board of Governors Meeting 2013-14 Progress Report 10 April 28, 2014 - Page 37 2013-14 Core Performance Measures

Short-term Current level March 2013 Short-term Time- Long-term Indicator Objective (Results) level Target f rame Objective High Quality, Societally-Relevant Undergraduate and Graduate Programs

NSSE: Undergraduate entire educational experience 78.9% (2011) 78.9% (2011) 75% - 80% 2014-15 rating* (triennial) GPSS: Overall rating of the quality of graduate 83.1% (2013) 81.4% (2010) 81% - 86% 2013-14 programs* (triennial)

FTE Enrolment as Share of Target Undergraduate 106% (2013) 103% (2012) 100% 2013-14 x Graduate 100% (2013) 100% (2012) 100% 2013-14

Student Engagement and Success Percentage of students retained from Year 1 87.5% (2013) 85.8% (2012) 84% - 88% 2013-14 after 1 Year

CSRDE 6-Year Graduation Rate 71.0% (2013) 70.0% (2012) 68% - 72% 2013-14

Master’s Completion Rates within 3 years 89.0% (2013) 88.9% (2012) 90% 2012-13 Learning and Teaching Excellence NSSE: Providing the support students need to succeed academically (triennial) 65.0% (2011) 65.0% (2011) 63% - 68% 2014-15

SRC Intensity

Value and number of peer-adjudicated research $15,107 (2012) $15,014 (2011) $15,000 2015-16 grants per eligible faculty member 0.45 (2012) 0.42 (2011) 0.5 2015-16

Total External Research Funding $32.3M (2012) $28.6M (2011) $32M 2015-16 Reputation

Mean entering average from secondary school 83.1% (2013) 82.2% (2012) 81% - 83% 2013-14

Mean entering average in Master’s programs B+ (2013) B+ (2012) B+ 2013-14

Positive print and online references to Ryerson 6,008 (2013) 6,069 (2012) 4,500 2013-14 Results: & amber lettering = below short-term target & green lettering = at or above short-term target & black lettering = target applies to later year Objective: Long-term improvement Long-term maintenance * Percentage of students reportingBoard good of Governorsor excellent Meeting 2013-14 Progress Report 11 April 28, 2014 - Page 38 III. 2014-15 Budget 2014-15 Operating Budget Context

Board of Governors Meeting 2014-15 Operating Budget Context 12 April 28, 2014 - Page 39 2014-15 Budget Principles

A. Reinforce Ryerson’s mission and five strategic priorities in Academic Plan

B. Guided by four principles: 1. Fairness and Transparency 2. Priority on Students 3. Forward Looking 4. Wide consultations

C. Balanced operating budget • Departmental base-budget reductions of 2.0%: 1% for balanced budget requirements 1% for base strategic reallocations

Board of Governors Meeting 2014-15 Operating Budget Context 13 April 28, 2014 - Page 40 Key Drivers of Operating Budget for Ryerson

Enrolment:  Strong demand: Ryerson continues to have highest applications-to-registrant ratio in the province, and second largest absolute number of applications in the province Government Grants:  1% base operating grants reduction  Undergraduate growth funds available for 2014-15 (primarily OTO)  Graduate allocation of 44 FTE master’s spaces for Ryerson in 2014-15 (out of 750 spaces system- wide)  Continued international student recovery ($750) and elimination of grant in lieu of municipal taxes ($75) for international undergraduate and master’s students Fees and Student Assistance Government Policies:  Provincial policy caps overall increase at 3% for 2014-15  Ontario Tuition Grants and OSAP/SAG provisions continue to provide student financial assistance  Government allows fees for digital learning materials including assessment tools to be charged  Students provided with option of per-term billing without surcharge Compensation:  Salary and benefits inflationary costs per collective agreements and Government legislation.

Board of Governors Meeting 2014-15 Operating Budget Context 14 April 28, 2014 - Page 41 Enrolment : Sustained Increase in Demand Change in Undergraduate Secondary School Applications, 2014 vs. 2004

Source: OUAC

Board of Governors Meeting 2014-15 Operating Budget Context 15 April 28, 2014 - Page 42 Enrolment: Ryerson University Enrolment Plan

Undergraduate: slight reduction in intake is planned with strong flow-through from growth in 2013-14 results in projected 2.7% increase. Graduate: enrolment to match funded levels.

Undergraduate Graduate Year 1 in FT Year over Total Year over Graduate FT Year over Graduate Year over Undergraduate Year Undergraduate Year and PT Year Fall Year Programs Change FFTEs* Change Headcount^ Change FTEs ^ Change Headcount 05-06 5,657 14.4% 22,254 7.0% 772 22.5% 627 21.0% 06-07 5,494 -2.9% 22,754 2.3% 1,085 40.5% 862 37.5% 07-08 5,572 1.4% 23,121 1.6% 1,639 51.1% 1,373 59.3% 08-09 6,202 11.3% 24,189 4.6% 1,968 20.1% 1,657 20.7% 09-10 6,267 1.0% 24,780 2.4% 2,120 7.7% 1,790 8.0% 10-11 6,521 4.1% 25,542 3.1% 2,246 5.9% 1,995 11.5% 11-12 6,766 3.8% 26,266 2.8% 2,325 3.5% 2,068 3.7% 12-13 7,265 7.4% 27,548 4.9% 2,351 1.1% 2,103 1.7% 13-14 Est. 8,007 10.2% 29,485 7.0% 2,362 0.5% 2,100 -0.2% 14-15 Proj. 7,940 -0.8% 30,280 2.7% 2,420 2.5% 2,160 2.9% 15-16 Proj. 7,940 0.0% 31,370 3.6% 2,530 4.5% 2,270 5.1% 16-17 Proj. 7,940 0.0% 31,810 1.4% 2,530 0.0% 2,270 0.0%

Board of Governors Meeting 2014-15 Operating Budget Context 16 April 28, 2014 - Page 43 Government Grants

Base Grants Basic Operating grants reduction: 1% grant reduction in 2014-15 (in addition to 1% reduction in 2013-14) International Student Recovery: Charging universities $750 per new undergraduate and masters international student Elimination of Grant in Lieu of Municipal Taxes: Loss of $75 grant to cover property taxes eliminated for international undergraduate and masters students

OTO (one-time-only) Grants Growth grants could be discounted as a result of system growth exceeding funds available. Consequently, budget assumes small increase in undergraduate grants and expenses as OTO.

Note: See details on Budget Schedules 1 and 2 (pp. 32-33).

Board of Governors Meeting 2014-15 Operating Budget Context 17 April 28, 2014 - Page 44 Government Tuition Fee Policy for 2013-14 to 2016-17

• Overall fee rate increase capped at 3% average within institution.

• Government allows most undergraduate programs a maximum annual fee rate increase of 3% for first-year students; 3% increase for continuing students.

• Government allows selected undergraduate professional programs* and all graduate programs a maximum annual fee rate increase of 5% for first-year students; 4% increase for continuing students~.

* Architectural Science, Computer Science, Engineering, TRSM ~ Students enrolled before 2013-14 are grandparented at 4% for future years, as students who first enrolled in 2013-14 or later continue into upper years, the maximum becomes 5%.

Board of Governors Meeting 2014-15 Operating Budget Context 18 April 28, 2014 - Page 45 Tuition Fees: Recommended Ryerson Domestic Tuition Fees for 2014-15 • Institutional average fee increase = 3%

• Most undergraduate programs: a) Year 1 student fee increase is 3.0% b) Continuing student fee increase is 2.5%

• Selected undergraduate professional* programs: a) Year 1 student fee increase is 5.0% b) Continuing student fee increase is 2.5%

• For graduate programs: a) Year 1/new student fee increase is between 3.0% and 5.0% depending on program b) Continuing student fee increase is 2.5%

* Architectural Science, Computer Science, Engineering, TRSM

Board of Governors Meeting 2014-15 Operating Budget Context 19 April 28, 2014 - Page 46 International Student Fees Parameters

1. Cover the costs of the new International Student Recovery (ISR) and Municipal Tax Grant clawback.

2. Grandparent the fee increase for students who first enrolled prior to 2013-14 fee increases (i.e. exclude ISR for these students).

3. Target minimum fee to middle range of Ontario universities’ fees.

4. To be more competitive, allow relatively high fees to move over time to middle range of Ontario fees.

5. For strong market programs, fees should move over time near the top range of Ontario fees.

Board of Governors Meeting 2014-15 Operating Budget Context 20 April 28, 2014 - Page 47 2014-15 Operating Budget: Incremental Revenues

Board2014 of Governors-15 OperatingMeeting Budget: Incremental Revenues 21 April 28, 2014 - Page 48 2014-15 Incremental Revenues over 2013-14 Budget ($million)

OPERATING FUND BASE OTO TOTAL SOURCES OF FUNDS Grants * Operating grants -1.7 -1.7 Access and other grants 3.2 11.1 14.3 Student fees 3% rate increase 6.4 6.4 Enrolment growth and mix changes 2013/14 12.4 12.4 * Enrolment growth and mix changes 2014/15 5.1 5.1 International student claw back recoveries 0.2 0.2 Other revenue -0.7 -0.7 Sub Total 24.9 11.1 36.0 Change in year end OTO ** 0.9 0.9 TOTAL SOURCES OF FUNDS 2014/15 24.9 12.0 36.9

* see schedule 2 Grants p. 33 ** See slide 9: The year-end carry-forwards available in 2014/15 are $11.9 m compared to $11.0 m in 2013/14 Consequently the OTO carry forwards available in 2014/15 are $.9 million more than in 2013/14. Note: See details on budget schedules 1 (p.32 ) and 2 (p.33 ).

Board2014 of Governors-15 OperatingMeeting Budget: Incremental Revenues 22 April 28, 2014 - Page 49 2014-15 Operating Budget: Incremental Expenditures

2014Board -of15 Governors Operating Meeting Budget: Incremental Expenditures 23 April 28, 2014 - Page 50 2014-15 Incremental Expenditures over 2013-14 Budget ($million)

OPERATING FUND BASE OTO TOTAL EXPENSES Inflation, compensation and other costs * 14.2 14.2 Growth costs 15.6 15.6 Student financial assistance (10% increase) 1.1 1.1 Strategic allocations 3.7 3.7

Base reductions (2% of department budgets) -6.7 -6.7 Change in base expenditures 27.9 0.0 27.9 Change in OTO expenditures Growth related -1.9 -1.9 Strategic allocations 10.9 10.9

TOTAL EXPENSES 27.9 9.0 36.9

* Salaries $9.4 m; benefits $2.2 m; utilities and other non salary expenses $2.6 m

Note: See details on budget schedules 1 (p. 32) and 2 (p. 33

2014Board -of15 Governors Operating Meeting Budget: Incremental Expenditures 24 April 28, 2014 - Page 51 2014-15 Operating Budget: Strategic Priorities

Board of Governors2014-15 Meeting Operating Budget: Strategic Priorities 25 April 28, 2014 - Page 52 Ryerson University Strategic Priorities

• The University is in a transition to a new Academic Plan to be approved by Senate later this Spring. For Budget tracking purposes, existing plan priorities are used. • Academic Plan Priorities Approved by Senate, 2008 to 2013 1. High quality, societally relevant undergraduate & graduate programs 2. Student engagement and success 3. Learning & teaching excellence 4. Scholarly, Research and Creative Activity (SRC) intensity 5. Reputation enhancement

Board of Governors2014 Meeting-15 Operating Budget: Strategic Priorities 26 April 28, 2014 - Page 53 Strategic Initiatives in 2014-15

High quality, • Undergraduate program in Sport Media to be implemented Fall 2014. societally relevant • First three Professional Master’s Diplomas – Enterprise Information undergraduate & Security, Privacy and Data Protection; Aerospace Design Management; graduate programs Dietetics - to be implemented Fall 2014. • Awarded the Law Practice Program by the Law Society of Upper Canada – unique alternative to traditional articling program to launch Fall 2014. Student engagement • Conversion of Business Essentials Minor to “flipped classroom” delivery. and success • Ontario Campus Connects initiative, with university and college partners and Ontario Chamber of Commerce. Learning & teaching • Undertake initiatives identified by Task Force on Graduate Education excellence Administration and Delivery. Scholarly, Research • Implementation of Biomedical Science and Engineering research and Creative Activity partnership with St. Michael’s Hospital, including a Biomedical Zone incubator. • Development of Faculty of Science research laboratories at MaRS. Reputation • Make Your Mark Campaign continued. enhancement • Partnerships with international universities. • Branding exercise. • Academic Plan to go to Senate for consideration in Spring 2014.

Board of Governors2014 Meeting-15 Operating Budget: Strategic Priorities 27 April 28, 2014 - Page 54 Strategic Budget Allocations ($million)

Base OTO Total 1. Academic Initiatives and Student Engagement 2.7 6.4 9.1 Student engagement and success initiatives; Teaching resources and curriculum development; SRC support services; Zone learning; Graduate student recruitment; Enhanced athletics and recreation opportunities for students 2. Infrastructure 0.9 12.4 13.3 Faculty of Science research facilities; Academic equipment; Information technology; Facilities maintenance 3. People First 0.1 0.6 0.7 Equity, diversity and inclusion initiatives; employee recognition, leadership development, HR technology upgrades; AODA compliance support 4. Reputation and Other 0.0 2.5 2.5 Make Your Mark Campaign; Enhancing communication including website; International initiatives Total 3.7* 21.9* 25.6

Shares of Strategic Budget Allocations Academic: 78% Non-Academic: 22% Note: * See page 32. Additional $15.6M in base and $11.9M* in OTO funds allocated for growth costs.

Board of Governors2014 Meeting-15 Operating Budget: Strategic Priorities 28 April 28, 2014 - Page 55 Setting 2014-15 Core Performance Measures Targets

Short-term Current level Proposed Time- Long-term Indicator Objective (March 2014) Target f rame Objective High Quality, Societally-Relevant Undergraduate and Graduate Programs

NSSE: Undergraduate entire educational experience rating* (triennial) 78.9% (2011) 75% - 80% 2014-15 GPSS: Quality of graduate programs rating* (triennial) 83.1% (2013) 81% - 86% 2016-17

FTE Enrolment as Share of Enrolment Target Undergraduate 106% (2013) 100% 2014-15 Graduate 100% (2013) 100% 2014 - 15

Student Engagement and Success Percentage of students retained from Year 1 87.5% (2013) 84% - 88% 2014-15 after 1 Year (CSRDE)

6-Year Graduation Rate (CSRDE) 71.0% (2013) 70% - 73% 2016-17 Master’s Completion Rates within 3 years 89.0% (2012) 90% 2014-15 Learning and Teaching Excellence NSSE: Providing the support students need to succeed academically rating* (triennial) 65.0% (2011) 63% - 68% 2014-15

SRC Intensity

Value and number of peer-adjudicated research grants per eligible $15,107 (2012) $15,200 2015-16 faculty member 0.45 (2012) 0.5 2015-16

Total External Research Funding $32.3M (2012) $32M - $34M 2015-16 Reputation

Mean entering average from secondary school 83.1% (2013) 82% - 84% 2016-17

Mean entering average in Master’s programs B+ (2013) B+ 2014-15

Positive print and online references to Ryerson 6,008 (2013) 6,200 2016-17

Results: & amber lettering = below short-term target & green lettering = at or above short-term target & black lettering = target applies to later year Objective: Long-term improvement Long-term maintenance * Percentage of students reporting good or excellent Board of Governors2014 Meeting-15 Operating Budget: Choices Made 29 April 28, 2014 - Page 56 2014-15 Budget Summary

• Operating budget is balanced • Enrolment demand is strong • University’s strategic priorities and academic plan are promoted • Departmental base-budget reductions: • 1.0% for balanced budget requirements • 1.0% for base strategic reallocations

• 3% increase in average domestic tuition fees • Allocations to promote strategic priorities and support growth: • $3.7M in base and $21.9M in OTO strategic allocations

Board of Governors2014 Meeting-15 Operating Budget: Strategic Priorities 30 April 28, 2014 - Page 57 2014-15 Budget

Schedule 1 OPERATING BUDGET

Schedule 2 GRANTS SCHEDULE

Schedule 3 CONSOLIDATED BUDGET

Schedule 4 ESTIMATED BALANCE SHEET APRIL 30, 2015

Schedule 5 PROJECTED CASH FLOW STATEMENT

Board of Governors Meeting 2014-15 Budget 31 April 28, 2014 - Page 58 Schedule 1 – Operating Budget

2013/14 2014/15 2014-15 2014-15 % $000 APPROVED PROPOSED OVER Increase BUDGET BUDGET 2013/14 (Decrease) BASE: REVENUE: Operating Grants 206,256 207,755 1,499 0.7% See Schedule 2 - grants Tuition Fees - 174,780 197,794 Rate increase 5,243 3.0% Enrolment changes - 13-14 12,428 7.1% Enrolment changes - 14-15 5,343 3.1% Continuing Education 39,031 40,202 1,171 3.0% Other Revenue 10,084 9,344 (740) -7.3% 14-15 reflects MTCU policy for service fees TOTAL REVENUE 430,151 455,095 24,944 5.8% EXPENSES: Includes growth funds, prior year's strategic Departmental Budgets 347,329 371,697 24,368 7.0% allocations, salary and benefit increases Continuing Education - Direct Costs 28,979 29,848 869 3.0% Student Financial Assistance 11,311 12,443 1,131 10.0% 10% increase in student support Utilities and other non salary provisions 25,922 26,798 876 3.4% Interest on debt - Capital Expansion 7,109 7,109 0 0.0% Infrastructure Maintenance 3,500 3,500 0 0.0% Strategic allocations - added to departments' base in following 3,000 3,700 700 23.3% year TOTAL EXPENSES 427,151 455,095 27,944 6.5% Base funds allocated OTO in 2013/14, base in BASE Revenues less Expenses 3,000 (0) (3,000) 2014/15 ONE TIME ONLY (OTO): PLUS: Additional grants & one time savings from prior year 11,036 11,900 864 Current year one time grants 10,825 21,900 11,075 See Schedule 2 - grants MINUS: One Time (OTO) expenses Growth related (13,861) (11,900) 1,961 Strategic allocations (11,000) (21,900) (10,900) Total change in OTO expenses = $9M OTO Revenues less Expenses (3,000) (0) 3,000 BASE AND OTO REVENUE MINUS EXPENSES (0) 0 (0)

Board of Governors Meeting 2014-15 Operating Budget 32 April 28, 2014 - Page 59 Schedule 2 - Grants

2014/15 2013/14 2013/14 2014/15 over $000 APPROVED PROJECTED ESTIMATE 2013/14 BUDGET budget BASE GRANTS:

BASIC OPERATING GRANTS 169,484 169,484 167,789 (1,695) 1% policy lever reduction Accessibility (growth) grants 10,455 10,391 14,019 3,564 OTHER OPERATING GRANTS: Quality Improvement 8,400 8,496 8,496 96 Collaborative Nursing grants 5,440 5,444 4,990 (450) Performance Funding 1,515 1,190 1,190 (325) Research Overheads 279 300 300 21 TARGETED GRANTS: Municipal Tax Grant 1,705 1,955 1,793 88 Graduate Capital Incremental funding 4,249 4,249 4,249 0 Accessibility grants for students with disabilities 724 724 724 0 Other Targeted Grants 1,427 1,427 1,427 0

GRANT CLAWBACKS: International Student Recovery (ISR) (251) (230) (450) (199) Municipal Tax Grant (298) (298) (58) 240

TOTAL BASE PROVINCIAL GRANTS 203,129 203,132 204,469 1,340

FEDERAL GRANTS: Federal research overhead grant 3,127 3,286 3,286 159

TOTAL BASE GRANTS: 206,256 206,418 207,755 1,499 Schedule 1

ONE TIME GRANTS: ACCESSIBILITY GRANTS - ONE TIME Undergraduate Accessibility 10,825 21,000 21,900 11,075 Graduate Accessibility 507 TOTAL ONE TIME GRANTS: 10,825 21,507 21,900 11,075 Schedule 1

TOTAL BASE AND ONE TIME GRANTS 217,081 227,925 229,655 12,574

NOTE: total Provincial Grants, Base and OTO 213,954 224,639 226,369 12,415

Board of Governors Meeting 2014-15 Operating Budget 33 April 28, 2014 - Page 60 Schedule 3 – Consolidated Budget

Student Capital Fund Trust and Operating Funded Ancillary Research (3) & GAAP 2014-15 $000 Endowment Fund Special Fund (2) Fund (3) Adjustments Budget Funds (3) Activities (1) (4) Revenue Summary: Government grants (Provincial & Federal) 207,755 66 964 208,785 Research and other grants and contracts 39,000 39,000 Tuition fees 237,996 8,050 246,046 Student Levy - Athletic and Recreation Centre 3,696 3,696 Sales and services 32,864 32,864 Donations recognized 6,000 6,000 Amortization of deferred capital contributions 8,000 8,000 Investment and other income 9,344 9,344 Total revenue 455,095 8,050 36,626 39,000 6,000 8,964 553,735

Expense Summary: Salaries and wages 297,096 5,031 7,661 24,375 2,500 336,663 Employee Benefits 58,890 1,006 1,532 4,875 500 66,803 Salaries, Wages and Benefits 355,986 6,038 9,193 29,250 3,000 403,467 Materials, supplies, repairs and maintenance (4) 69,557 2,013 18,734 9,750 -23,500 76,554 Bursaries and scholarships 22,443 3,000 25,443 Interest on debt - Capital Expansion 7,109 3,189 10,298 Student levy - Ath & Rec - Interest on debt, + RAC & MAC 3,696 operations 3,696 Amortization of capital assets 26,000 26,000 Total expenses 455,095 8,050 34,812 39,000 6,000 2,500 545,457 Revenues less Expenses before One Time Grants and 0 0 1,814 0 0 6,464 8,278 Expenses

PLUS: Current year one time grants 21,900 21,900 MINUS: One Time (OTO) expenses -33,800 -33,800 Revenues less Expenses before amounts carried forward from prior year -11,900 0 1,814 0 0 6,464 -3,622

PLUS: Addiitonal grants & one time savings from prior year 11,900 11,900

Revenue less expenses after carry forward provision 0 0 1,814 0 0 6,464 8,277 1. Includes Athletics, Student Services, Ancillary/Lab fees

2. Ancillary fund surplus appropriated at year end for capital purposes. 3. Externally restricted funds - unexpended balances in Research, Trust, Endowment and Capital funds deferred at year end. 4. The budget is Initially prepared on a cash basis. Capital items purchased with operating or other funds are capitalized at year end and amortized over useful life.

Board of Governors Meeting 2014-15 Consolidated Budget 34 April 28, 2014 - Page 61 Schedule 4 – Estimated Balance Sheet

Financing & April 30, 2014 Operating April 30, 2015 Investing $000 Projected Estimate ASSETS Cash and cash equivalents & short term investments 130,863 14,378 -24,866 120,375 Other current assets 25,895 25,895 Total current assets 156,758 14,378 -24,866 146,270

Investments 195,321 -40,000 155,321 Capital Plan Long - term note receivable 5,910 5,910 Employee future benefits - pension 84,931 84,931 Calculated by actuaries at year end Capital assets, net 981,863 -26,000 87,810 1,043,673 Capital Plan 1,424,783 -11,622 22,944 1,436,105 LIABILITIES AND NET ASSETS Total current liabilities 76,972 76,972 Employee future benefits - other 24,778 24,778 Calculated by actuaries at year end Capital Plan financing net of BMO loan Principal Long-term debt 191,169 -1,976 189,193 repayments Fair Value of Interest Rate Swap 30,496 30,496 CICA Standards Deferred revenue contributions 50,000 50,000 Estimate Deferred capital contributions 198,470 -8,000 19,920 210,390 Estimate - Capital Plan

Net assets Capital assets minus deferred capital contributions and Invested in capital assets 574,627 7,476 582,103 long term debt. Internally restricted - employee future benefits 60,153 60,153 Assumes no significant net change in 2014/15 Internally restricted - other ("Carry forwards") 229,328 229,328 Includes year end grants carried into the following year Unrestricted surplus/deficit -113,745 -3,622 -7,476 -124,843 Net impact of consolidated and capital budgets 1,322,248 -11,622 17,944 1,328,570 Endowments 102,535 5,000 107,535 Estimate 1,424,783 -11,622 22,944 1,436,105

Board of Governors Meeting 2014-15 Consolidated Budget 35 April 28, 2014 - Page 62 Schedule 5 – Projected Cash Flow Statement

Year ended April 30, 2014 2015 $000 Projected Estimate OPERATING ACTIVITIES Revenue less expenses 39,779 (3,622) As per consolidated budget Add (deduct) non- cash items amortization of capital assets 25,955 26,000 As per consolidated budget amortization of deferred capital contributions (8,077) (8,000) As per consolidated budget Unrealized loss (gain) on interest rate swap (15,160) Assumes no significant net change in 2014/15 Unrealized gain on investments (6,166) Assumes no significant net change in 2014/15 Net change in deferred revenue contributions 5,157 Assumes no significant net change in 2014/15 Net change in non-cash working capital balances 617 Assumes no significant net change in 2014/15 Cash provided by operating activities 42,105 14,378

FINANCING AND INVESTING ACTIVITIES

Contributions received for capital purposes 5,000 19,920 Capital Plan Endowment contributions 1,000 5,000 Estimate Capitalization of investment income (loss) in endowment 2,000 fund Acquisition of capital assets (65,307) (87,810) Capital Plan Decrease in Notes Receivable 221 Increase in Debt Financing 11,200 TD Loan - phase 4 in 2013 Long term debt principal repayments (2,091) (1,976) BMO Principal Repayment

Decrease/(Increase) in investments, & other adjustments 5,824 40,000 Estimated Cash used in financing and investing activities (42,153) (24,866)

Net increase (decrease) in cash during the year (48) (10,488) Cash and cash equivalents & short term , beginning of 130,911 130,863 period

Cash and cash equivalents, end of period 130,863 120,375

Board of Governors Meeting 2014-15 Consolidated Budget 36 April 28, 2014 - Page 63 IV. 2014-15 Fees

Board of Governors Meeting 37 April 28, 2014 - Page 64 2014-15 Fees 2014-15 Fee Schedules

A. Tuition Fees – Domestic fees – International fees – Continuing Education and Special Fees

B. Non Tuition-related Fees

C. Department Lab/Ancillary Fees

D. Service Fees

E. Student Residence Fees and Food Plans

Board of Governors Meeting 2014-15 Fees Schedule 38 April 28, 2014 - Page 65 2014-15 Fee Schedules- Summary of Recommended Tuition Increases

DOMESTIC STUDENTS

Year 1* Upper Years*

Government Policy Ryerson Government Policy Ryerson Maximum Recommended Maximum Recommended Category 1 3.0% 3.0% 3.0% 2.5% Category 2 5.0% 0% to 5.0% 4% to 5% 0% to 2.5%

* fee increase to average not more than 3% for all students

INTERNATIONAL STUDENTS**

Year 1 Upper Years

Undergraduate 5.0% 5% to 16.6%

Master's 0% to 5% 0% to 7.9%

** Includes clawback. There are no government restrictions on international tuition fees.

Board of Governors Meeting 2014-15 Fees Schedule 39 April 28, 2014 - Page 66 2014-15 Fee Schedules- Highlights

Tuition Fees - Domestic Students - consistent with government policy First year Arts and Science and other non professional undergraduate programs fees to increase by 3%. Upper years by 2.5%. First year Professional Undergraduate Programs and Graduate programs to increase by 0% to 5%. Upper years by 0% to 2.5%. Tuition Fees - International Students Tuition increases to cover year 2 of the International Student Recovery (ISR) and to bring minimum fees to the middle range of Ontario universities' fees. There are no government restrictions on international tuition fees. Compulsory Non Tuition Related Fees As a result of previous referenda, 12 non-tuition related fees increase automatically by Toronto CPI (1.2% in 2013). The referendum approved Ryerson Communications and Design Society fee of $60.00 will be implemented in the Fall of 2014 The Ryerson Engineering Students Society fee will increase from $33.70 to $65.00 in the Fall of 2014, per referendum. Dept Lab/Ancillary Fees 2 Departmental councils have proposed new fees: Creative Industries to cover placement costs; and support for the new program - Sport Media . 1 Fee has been reduced per the recommendations of an internal audit report - CE business courses from $4.50 per course to $2.00. New Media students, now included in the RTA School of Media will be charged the RTA School of Media fee of $160. CE service fees updated to current levels Service Fees Service Fees incorporate the new MTCU policies: - elimination of deferral fee, graduation administration fee, and fees for confirming eligibility to graduate - MTCU allows a fee to recover convocation costs. The proposed fee is $50 to be charged only to students attending. - MTCU rules limit the maximum for tuition deposits to not exceed the greater of $500 or 10% of the fee, effective not later than 15-16. For 14-15, Ryerson to use $600 for Undergraduate (UG) - lowest proposed UG fee is $6032.21. For graduate students, the fee will remain unchanged for 14-15, and the MTCU guidelines will be implemented in 15-16. - the non refundable portion of tuition deposits is limited to a maximum of $500. Ryerson will keep the fee at $400 for UG, and charge $500 for graduate. DMZ service fees updated to current levels Residence Fees Increase of 3% for ILLC and for Pitman and 5% O'Keefe House to cover the operating costs of the residences. A new 11 month term Pitman Hall residence option is introduced for 14-15 at a proposed rent equivalent to 11/8ths of the 8 month term. Food Plan Increase of 3% to cover the increase in food and labour costs. Board of Governors Meeting 2014-15 Fees Schedule 40 April 28, 2014 - Page 67 2014-15 Fees Schedule - A. Domestic Tuition fees

2013-14 Tuition Fee 2014-15 Proposed Tuition Fee

Year 1 Year 2 Year 3 Year 4 Year 1 Year 2 Year 3 Year 4 % Incr. % Incr. % Incr. % Incr. Category 1 - Arts and Science programs for which fee rates may increase up to 3% in the first year and in the upper years.

Arts & Contemp Studies, Social Science, English, Biomedical Science, Financial Mathematics, Creative Industries, Professional Communications, Philosophy, 5,856.52 5,828.10 5,800.22 5,772.47 6,032.21 3.0% 6,002.93 2.5% 5,973.80 2.5% 5,945.22 2.5% Env & Urban Sustainability, History, Psychology, other Science programs

Post Degree 2 Year Occupational/Public Health 6,418.43 6,387.28 6,610.98 3.0% 6,578.89 2.5% All Other Undergraduate Programs* 5,964.58 5,935.63 5,907.24 5,878.97 6,143.51 3.0% 6,113.69 2.5% 6,084.02 2.5% 6,054.92 2.5%

Category 2 - Professional Undergraduate Programs, and Graduate programs that may be increased up to 5% in the first year, 4% to 5% in upper years

Professional Undergraduate Programs Engineering 8,870.75 8,659.55 8,338.83 8,029.98 9,314.28 5.0% 9,092.52 2.5% 8,876.03 2.5% 8,547.30 2.5% Business Technology Management 7,315.22 7,141.05 6,876.57 6,621.88 7,680.98 5.0% 7,498.10 2.5% 7,319.57 2.5% 7,048.48 2.5% Computer Science 7,454.64 7,277.15 7,007.63 6,748.09 7,827.37 5.0% 7,641.00 2.5% 7,459.07 2.5% 7,182.82 2.5% Business FT & PT (Business Mgt, Accounting & Finance, Hospitality & Tourism Mgt, Retail Mgt) 7,315.22 7,141.05 6,876.57 6,621.88 7,680.98 5.0% 7,498.10 2.5% 7,319.57 2.5% 7,048.48 2.5% Architectural Science 8,315.35 8,117.37 7,816.73 7,527.23 8,731.11 5.0% 8,523.23 2.5% 8,320.30 2.5% 8,012.14 2.5% Graduate Programs Master's in Engineering 9,188.76 9,144.16 9,057.06 8,970.79 9,464.42 3.0% 9,418.47 2.5% 9,372.76 2.5% 9,283.48 2.5% Master's in Environmental Applied Science & Mgt 9,092.00 8,875.53 8,546.80 8,230.26 9,464.42 4.1% 9,319.30 2.5% 9,097.41 2.5% 8,760.47 2.5% Master's in Architecture 9,451.29 9,405.41 9,057.06 8,970.79 9,734.82 3.0% 9,687.57 2.5% 9,640.54 2.5% 9,283.48 2.5% MBA Programs (moved to a fees per course basis in 08/09) 17,494.99 17,078.45 16,445.91 15,836.79 18,369.74 5.0% 17,932.36 2.5% 17,505.41 2.5% 16,857.05 2.5% MMSc Management Technology and Innovation 12,871.32 12,808.84 12,334.43 11,877.60 13,257.46 3.0% 13,193.10 2.5% 13,129.06 2.5% 12,642.79 2.5% Fashion MA 14,601.23 14,530.35 15,039.26 3.0% 14,966.26 2.5% Professional Communications MPC 14,601.23 14,530.35 15,039.26 3.0% 14,966.26 2.5% Master's in Photographic Preservation 9,188.76 9,144.16 9,057.06 8,970.79 9,464.42 3.0% 9,418.47 2.5% 9,372.76 2.5% 9,283.48 2.5% Master's in Engineering - Computer Networks 17,494.99 17,078.45 16,445.91 15,836.79 18,369.74 5.0% 17,932.36 2.5% 17,505.41 2.5% 16,857.05 2.5% Master's in Psychology 9,721.32 9,674.12 10,012.96 3.0% 9,964.35 2.5% Master's in Communication and Culture ** 4,785.03 4,785.03 4,785.03 4,785.03 4,785.03 0.0% 4,785.03 0.0% 4,785.03 0.0% 4,785.03 0.0% Master's in Digital Media (MDM) 16,222.50 16,709.17 3.0% 16,628.06 2.5% All Other Master's Programs 9,188.76 9,144.16 9,057.06 8,970.79 9,464.42 3.0% 9,418.47 2.5% 9,372.76 2.5% 9,283.48 2.5% PhD in Communication & Culture** 4,785.03 4,785.03 4,785.03 4,785.03 4,785.03 0.0% 4,785.03 0.0% 4,785.03 0.0% 4,785.03 0.0% All other PHD Programs *** 8,926.22 8,882.89 8,798.28 8,798.28 9,194.00 3.0% 9,149.37 2.5% 9,104.96 2.5% 9,018.23 2.5% Tuition fees charged reflect the actual length of program of study as taken by FT students in undergraduate degree programs. FT graduate masters programs can be for one or two years, with their PT equivalent taking up to 2 or 4 years respectively. The 3rd and 4th year fee for masters students is applicable only to part time programs. * Includes new program: FCAD RTA Sport Media ** Tied to partner institution

*** Clinical psychology students on internship, who have completed their dissertation research, to pay part time fees while on placement. Board of Governors Meeting 41 April 28, 2014 - Page 68 2014-15 Fees Schedule 2014-15 Fees Schedule – A. International Fees

% Increase Category 3- International Undergraduate and Graduate Fees: 2013/14 Approved 2014/15 Proposed* % Increase ** without clawback Undergraduate Tuition Fees Engineering - Yr 1 $22,105.71 $23,211.00 5.0% 5.0% Engineering - Yr 2 $19,905.73 $23,211.00 16.6% 12.84% Engineering - Years 3 and 4 $19,905.73 $20,901.02 5.0% 5.0% Business - Yr 1 $20,320.61 $21,336.64 5.0% 5.0% Business - Yr 2 $18,782.03 $21,336.64 13.6% 9.61% Business - Years 3 and 4 $18,782.03 $19,721.13 5.0% 5.0% Architecture - Yr 1 $20,320.61 $21,336.64 5.0% 5.0% Architecture - Yr 2 $18,782.03 $21,336.64 13.6% 9.61% Architecture - Years 3 and 4 $18,782.03 $19,721.13 5.0% 5.0% All Others - Yr 1 $19,532.03 $20,508.63 5.0% 5.0% All Others - Yr 2 $18,782.03 $20,508.63 9.2% 5.20% All Others - Years 3 and 4 $18,782.03 $19,721.13 5.0% 5.0%

Graduate Tuition Fees Master's in Communication and Culture - Year 1 $18,641.22 $18,641.22 Master's in Communication and Culture - continuing students $17,891.22 $17,891.22 Master's in Environmental Applied Science and Management - Year 1 $19,711.41 $19,711.41 Master's in Environmental Applied Science and Management - continuing students $19,316.52 $19,711.41 2.0% -1.84% Master's in Engineering - Computer Networks - Year 1 $29,771.06 $29,771.06 Master's in Engineering - Computer Networks - continuing students $29,021.06 $29,771.06 2.6% Master's in Immigration and Settlement Studies - Year 1 $18,641.22 $18,641.22 Master's in Immigration and Settlement Studies - continuing students $17,891.22 $18,641.22 4.2% Master's in Photographic Preservation - Year 1 $25,635.91 $25,635.91 Master's in Photographic Preservation - continuing students $24,885.91 $25,635.91 3.0% MBA in Business and MBA in Mgmt. of Techn. & Innovation - Year 1 $28,065.02 $29,468.27 5.0% 2.33% MBA in Business and MBA in Mgmt. of Techn. & Innovation - continuing students $27,315.02 $29,468.27 7.9% 5.14% MMSc Management Technology and Innovation - Year 1 $20,282.16 $20,282.16 MMSc Management Technology and Innovation - continuing students $19,532.16 $20,282.16 3.8% Master's in Fashion - Year 1 $22,617.01 $22,617.01 Master's in Fashion - continuing students $21,867.01 $22,617.01 3.4% MEng, MASc, Architecture and Building Science - Year 1 $21,355.71 $21,355.71 MEng, MASc, Architecture and Building Science - continuing students $19,905.73 $21,355.71 7.3% 3.52% All other current and new Masters programs - Year 1 $19,711.41 $19,711.41 All other current and new Masters programs - continuing students $18,961.41 $19,711.41 4.0% PhD in Communication and Culture (for all years) $17,816.22 $17,816.22 All other current and new PhD programs( for all years) $18,886.41 $18,886.41 * 2014-15 tuition fees for undegradute students in Year 2 and all Master's students include International Student Recovery claw back of $750 **target minimum fee to middle range of Ontario universities' fees Board of Governors Meeting 2014-15 Fees Schedule 42 April 28, 2014 - Page 69 2014-15 Fees Schedule – A. Continuing Education and Special Fees

Continuing Education Tuition Fees (course fees) Domestic students enroled in degree credit courses: consistent with government policy, the average annual fee increase will not exceed 3% International students enroled in degree credit courses: 2.5 times domestic fee per course International students, on line degree credit courses - pilot project: 1.5 to 2.0 times domestic fee per course Domestic and International Students enroled in non-credit courses: the average annual fee increase will be 5%

2013/14 Approved 2014/15 Proposed % Increase English as a Second Language (ESL) $25,000.00 $25,000.00

Tuition Fees for Students Not Registered in a Program

2012/13 Approved 2013/14 Approved 2014/15 Proposed fees % Increase Undergraduate Tuition Fees Special Students, domestic - professional programs (per hour) note 1 $303.82 315.97 $328.61 4.0% Special Students, domestic - all other programs (per hour) $248.82 256.28 $263.97 3.0% Special Students, Visa - Engineering, Architecture (per hour) $942.11 989.22 $1,038.68 5.0% Special Students, Visa - other programs (per hour) $769.25 807.71 $848.10 5.0% Audit Students - professional programs (per hour) note 1 $117.09 121.77 $126.64 4.0% Audit Students - all other programs (per hour) $117.09 120.60 $124.22 3.0% Research placement admin fee for Science Without Borders (SWB) note 2 2,835.52 $3,000.00 5.8%

Graduate Tuition Fees Special Students - domestic (per course) note 3 $1,600.47 1,664.48 $1,731.06 4.0% Special Students - international (per course) 2,423.13 $2,665.44 10.0% note 1- Engineering, Architectural Science, Computer Science, Business Mgt, Hospitality & Tourism Mgt, Retail Mgt, Accounting & Finance, Business Technology Management note 2 - Sponsored by the Brazilian Government note 3- Canadian Visiting Grad Students (CVGS) pay $500, as long as they are registered and paying fees to their home University.

Board of Governors Meeting 2014-15 Fees Schedule 43 April 28, 2014 - Page 70 2014-15 Fees Schedule – B. Non Tuition-related Fees

2013/14 Approved 2014-15 Proposed % Increase* UNDERGRADUATE/GRADUATE DAY STUDENTS (approval not required) Fees Collected on Behalf of Student Groups/Third Parties Canadian Nursing Students’ Association - Full time $10.00 $10.00 Canadian Nursing Students’ Association - Part time $6.00 $6.00 Ryerson Commerce Society* $64.61 $65.38 1.2% Ryerson Engineering Students’ Society*** $33.70 $65.00 92.9% Ryerson Communication and Design Society**** $60.00 Oakham House Support $4.00 $4.00 Ryerson Students’ Union (RSU)* $109.06 $110.36 1.2% RSU Health & Dental Plan $300.00 TBD UHIP (compulsory, if not covered by OHIP) $684.00 $648.00 -5.3% University Fees Ryerson Athletic Centre* $67.77 $68.58 1.2% Mattamy Athletic Centre (MAC)* $127.89 $129.42 1.2% Student Campus Centre $60.00 $60.00 Special Activities Reserve $20.20 $20.20 World University Service of Canada (WUSC) Student Refugee Program* $4.18 $4.23 1.2% Student Services* $70.38 $71.22 1.2% Special Incidental Reserve $4.00 $4.00 Access copyright fee $26.00 $26.00 TRSM Activity Fees Business - Specific Career Development Services $50.75 per term** $51.35 per term** 1.2% MBA Student Activity Fee - Full Time Students $203.00 $205.43 1.2% MBA Student Activity Fee - Part Time Students $101.50 $102.71 1.2%

CONTINUING EDUCATION STUDENTS (applies to courses over 30 hours) Fees Collected on Behalf of Student Groups/Third Parties Oakham House Support $1.00 $1.00 CESAR Fee* $12.08 $12.22 1.2% CESAR Health & Dental Plan $155.95 TBD CFS* $2.38 $2.40 1.2% Student Campus Centre Development Fund $0.50 $0.50

University Fees Ryerson Athletic Centre $0.50 $0.50 Student Campus Centre $2.50 $2.50 Student Services Fee* $6.32 $6.39 1.2% Access copyright fee per CE credit course $2.60 $2.60 * per previous referenda, increased by Toronto 2012 CPI (1.2%) **Fee prorated for students registered in less than 3 units in that term ***Increase approved by student referendum - November 2013. To further increase annually by Toronto CPI. ****New fee approved by student referendum - November 2013. To increase annually by Toronto CPI. Board of Governors Meeting 2014-15 Fees Schedule 44 April 28, 2014 - Page 71 2014-15 Fees Schedule – C. Department Lab/Ancillary Fees

Changes to these fees must follow Ministry and Ryerson’s protocols. They are approved at departmental councils at which students are represented. Proposals are analyzed by Financial Services to ensure the adequacy of supporting details, and compliance with the protocols. The recommendations are than reviewed by the Provost and Vice President Academic and by the Ryerson Macro Planning group. Fees collected and their related operating expenses are monitored by the Departmental Assistant (DA) and/or Business Officer together with the Financial Services departmental advisor. Periodic internal audits are also undertaken of all ancillary fees. Previous year's fees indicated in brackets. LEGEND A Category of Fee B Refund Policy 1 Field trip fees. 1 100% refund prior to the commencement of classes. 2 Fees-learning materials/clothing retained by student. 2 100% refund up to 2 weeks prior to the start of classes. 3 Fees-materials used in production of items which become property of student. 3 No refund. 4 Fees-material/ services when the University acts as broker with vendor for 4 Tuition fee refund policy student. applies. 5 Co-operative program fee (total co-op fee - 5 work terms - = $1,875). 5 Other - as defined. 6 Internship.

PROPOSED PROPOSED 14-15 FEE A B C PROGRAM FALL WINTER SPRING CATEGORY REFUND CHANGE Aerospace Engineering AE001 Internship WKT89A 650.00 6 4 Chemistry and Biology CB001/BI001/BE001 Chemistry Co-operative Education 1,875.00 5 3 Biomedical Science Co-operative Education 1,875.00 5 3

Biology Co-operative Education 1,875.00 5 3 Computer Science CS001 Laser Printing Service (1st year only) 30.00 30.00 2 3 Computer Science Co-0perative Education 1,875.00 5 3 Board of Governors Meeting 45 April 28, 2014 - Page 72 2014-15 Fees Schedule 2014-15 Fees Schedule – C. Department Lab/Ancillary Fees

PROPOSED PROPOSED 14-15 FEE A B C PROGRAM FALL WINTER SPRING CATEGORY REFUND CHANGE Architectural Science AS001 - Undergrad Full Time (all students) 37.50 37.50 234 2 ASC101-Communications Studio-First Year 50.00 - 1234 2 ASC201-Design Studio-First Year 50.00 1234 2 ASC205-Collaborative Exercise-First Year 25.00 1234 2 ASC301-Studio-Second Year 50.00 1234 2 ASC401-Studio-Second Year 50.00 1234 2 ASC405-Collaborative Exercise-Second Year 25.00 1234 2 ASC520-Studio - Third Year 50.00 1234 2 ASC620- Studio - Third Year 50.00 1234 2 Architectural Science Graduate Program AR001 Graduate Program-Full Time (all students) Fall, Winter 37.50 37.50 234 2 MA1S Studio in Critical Practice / AR8101 200.00 1234 2 MA2S Studio in Collaborative Practice / AR8103 200.00 1234 2 MA3S Intensive Research Studio / AR8105 200.00 1234 2 Biomedical Engineering BE001 Internship WKT88A 650.00 6 3 Business Management BM001 - FT & BM002 - PT Full-time program undergraduate: all students 4.50 4.50 2 4 Part-time program undergraduate: all students 1.80 1.80 2 4 Business Management (MBA) MB001/MB002 Full-time program graduate student placement fee 2,000.00 6 4 Part-time program graduate student placement fee 1,000.00 6 4 Continuing Education ** All Business course students (per course) 2.00(4.50) 2.00(4.50) 2.00(4.50) 2 4 Reduced in Fall 2013 as recommended by internal audit report Arts - Digital Geography Certificate courses CODG - 101,102,123,124,125,126,127,132,133,135,136,210,211,212,220, and 221 25.00 25.00 25.00 4 4 Communications and Design - Graphic Communication Courses CGRA - 102,103,104,202,203, and 204. 40.00 40.00 40.00 3 4 Communications and Design - CDMP 118 Film and Sound Editing I 35.00 35.00 35.00 3 4 Communications and Design - CDMP 223 Film Technology II 35.00 35.00 35.00 3 4 Communications and Design - CDTH 431 Make-Up Artistry; Film Video TV 35.00 35.00 35.00 2 4 Communications and Design - CDTH 448 Make-UP Tech:Theatre/Film 25.00 25.00 25.00 2 4 Communications and Design - Techniques of Photography CDFP 320 65.00 65.00 65.00 3 4 Communications and Design - Approaches to Docu Photography CDFP 392 75.00 75.00 75.00 3 4 Community Services - CVNU101 Univ Skills for Nurses and ECE 15.00 15.00 15.00 2 4 **CE service fees list updated to current levels Chemical Engineering CH001 Chemical Engineering Co-operative Education 1,875.00 5 3 Child and Youth Care CYC302 40.00 1 5

Board of Governors Meeting 46 April 28, 2014 - Page 73 2014-15 Fees Schedule 2014-15 Fees Schedule – C. Department Lab/Ancillary Fees

PROPOSED PROPOSED 14-15 FEE A B C PROGRAM FALL WINTER SPRING CATEGORY REFUND CHANGE Civil Engineering CV001 All students 10.00 10.00 2 4 Internship WKT90A 650.00 6 3 5 3 Computer Engineering CE001 Internships WKT99A 650.00 6 3 Creative Industries CR001 Internship- all students in BA program 140.00 (0) 6 3 new fee to cover placement service costs Contemporary Science - Co-operative Education SC001 3rd year 375.00 5 3 SC001 4th year 750.00 5 3 SC001 5th year 750.00 5 3 Early Childhood Education EC001 CLD111 6.00 - 2 4 CLD212 6.00 - 2 4 CLD161 - 15.00 2 4 CLD363 (for George Brown & Direct Entry Students only) 15.00 2 4 CLD215 10.00 2 4 CLD315 10.00 2 4 CLD 364 & 419 are no longer offered Electrical Engineering EE001 Internship WKT99A 650.00 6 3 Fashion FA001/FA002 All students 140.00 - 1/2/3/6 1 Geographic Analysis GE001

GEO773 (optional field trip) (4) 1,400.00 - 1 3 GEO714 25.00 25.00 2/3 1 GEO719 25.00 25.00 2/3 1 GEO419 25.00 25.00 2/3 1 GEO 643 - (compulsory field trip - **Fall or Winter based on enrollment) 150.00 ** 1 3 GEO724 25.00 25.00 2/3 4

Board of Governors Meeting 47 April 28, 2014 - Page 74 2014-15 Fees Schedule 2014-15 Fees Schedule – C. Department Lab/Ancillary Fees

PROPOSED PROPOSED 14-15 FEE A B C PROGRAM FALL WINTER SPRING CATEGORY REFUND CHANGE GEO301 25.00 25.00 2/3 1 GEO 302 25.00 25.00 2/3 1 GEO001/BA001 Plan - BAGEOANLYS - 1st year printing only 25.00 - 2/3 3 GEO 131 50.00 50.00 1 3 GEO 151 50.00 50.00 1 3 GEO001/BA001 Plan - BAGEOANLYS - 2nd year 50.00 - 2/3 3 GEO001/BA001 Plan - BAGEOANLYS - 3rd year 35.00 - 2/3 3 GEO001/BA001 Plan - BAGEOANLYS - 4th year 25.00 - 2/3 3 Graphic Communications Management GC001 All students 250.00 - 1/2/3/4/6 3 Hospitality and Tourism Management HT001 All students 28.00 28.00 2/3 4 Image Arts IM001/IM002/IM003/PM001 All undergraduate students 160.00 - 1/2/3/6 4

Master of Fine Arts 230.00 1/2/3/6 4 All grad students in Photo Preservation & Management 230.00 1/2/3/6 4 Industrial Engineering IE001 Internship WKT88A 650.00 6 3 Information Technology Management IT001- IT016 Full-time program - all students 1.00 1.00 2 4 Part Time program - all students 0.40 0.40 2 4 ITM Co-operative Education 1,875.00 5 3

Interior Design ID001 ID001 - 1st year 403.00 - 1/2/3/6 4 ID001 - 2nd year 579.00 - 1/2/3/6 4 ID001 - 3rd year 310.00 - 2/3/6 4 ID001 - 4th year 285.00 - 2/3/6 4

Board of Governors Meeting 48 April 28, 2014 - Page 75 2014-15 Fees Schedule 2014-15 Fees Schedule – D. Service Fees

PROPOSED PROPOSED 14-15 FEE A B C

PROGRAM FALL WINTER SPRING CATEGORY REFUND CHANGE International Economics and Finance IC001 Internship WKT77A & ECN 900 650.00 6 3 Journalism JO001/JN001

All graduate & undegraduate students ( excl. UG taking summer magazine option) 150.00 150.00 2/3/4/6 3 Undegraduate students taking summer magazine option 150.00 150.00 2/3/4/6 3 Mechanical Engineering ME001 Internship WKT88A 650.00 6 3 Medical Physics - Co-operative Education PH001 PH001 3rd year 375.00 5 3 PH001 4th year 750.00 5 3 PH001 5th year 750.00 5 3 Midwifery MW001/MW002 MWF250 30.00 4 2

Nursing NU001 - NU009 All full-time NU001 11.00 11.00 2 3 fee category changed to #2 per Internal Audit report NU004 11.00 11.00 2 3 fee category changed to #2 per Internal Audit report NU005 11.00 11.00 2 3 fee category changed to #2 per Internal Audit report NU006 11.00 11.00 2 3 fee category changed to #2 per Internal Audit report NU008 7.75 7.75 4 3 Nutrition FN001 FND100 - 40.00 2/3 4 FNS200 40.00 - 2/3 4 FND401 - 15.00 2/3 - FN001 years 1 and 2 10.00 20.00 2/3 4 FN001 years 3 and 4 15.00 15.00 2/3 4

Board of Governors Meeting 49 April 28, 2014 - Page 76 2014-15 Fees Schedule 2014-15 Fees Schedule – C. Department Lab/Ancillary Fees

PROPOSED PROPOSED 14-15 FEE A B C PROGRAM NC001 FALL WINTER SPRING CATEGORY REFUND CHANGE MHSc in Nutrition Communications NC8301/NC8302

Practicum placement option (charged in 2nd year of program) 1,550.00 1,550.00 6 4 Occupational and Public Health OC001/OC002/OC003

ENH733 42.75 - 2 4 OHS823 - 200.00 1 4

ENH324 15.00 - 1 4 EHN424 - 15.00 1 4

Public Health and Safety Co-operative Education 1,875.00 5 3 Occupational Health and Safety Co-operative Education 1,875.00 5 3 Radio and Television RT001/RT002 RT001 and RT002 - all years 125.00 - 2/3/4/6 4 BDC904 - Room & Board - RTA in LA program 1,500.00 RTA School of Media RT003

Undergraduate students - new Media Students now included in the RTA School of Media will be charged the RTA School of Media fee of $160 160.00 - 1/2/3/6 4 moved from Image Arts Graduate Studies - Media Production MD001 Media Production (M.A.) 25.00 4 4 Retail Management RL001 Field Trips - all years 20.00 20.00 1 4 Materials - all years 10.00 10.00 2/3 4 Social Work SW001 SWP130 10.00 - 2/6 4 SWP335 10.00 - 2/6 4 SWP31A 10.00 - 2/6 4 SWP50A 10.00 - 2/6 4 Sports Media Program RT004 All undergraduate students 160.00 - 1/2/3/6 4 ancillary fee for new program

Board of Governors Meeting 50 April 28, 2014 - Page 77 2014-15 Fees Schedule 2014-15 Fees Schedule – C. Department Lab/Ancillary Fees

PROPOSED PROPOSED 14-15 FEE A B C PROGRAM FALL WINTER SPRING CATEGORY REFUND CHANGE Theatre School TH001/TH002/TH003

Material fee (all students) 24.00 - 2 4

THP 101 Production 1 75.00 2/3/4 4

THP 201 Production 2 50.00 2/3/4 4 THP 315 Corsetry 100.00 2/3 3 THP 325 Ward 3 50.00 2/3 3 THP 328 Carps 3 50.00 2/3 3 THP 333 Accessories 20.00 2/3 3 THP 422 Paint 50.00 2/3 3 THP 538 Props 25.00 2/3 3 THP 612 Dye 50.00 2/3 3 THP 648 Welding 75.00 2/3 3

Urban and Regional Planning UP001/UP002/UP003 UP002 and UP003 - first year became PLG530 600.00 - 1 5 UP001 - third year became PLG530 600.00 - 1 5 PLG900 became PLG730 600.00 - 1 5

Board of Governors Meeting 51 April 28, 2014 - Page 78 2014-15 Fees Schedule 2014-15 Fees Schedule – D. Service Fees

2013/14 Approved 2014/15 Proposed Comments Test of English Proficiency (RTEP) 125.00 125.00 Challenge Credits 175.00 175.00 Letter of Permission 40.00 40.00 Late Fees (per month) 1.25% 1.25% New MTCU policy allows the greater of $500, or 10% of the fee (lowest Max Tuition Deposit undergraduate 1000.00 600.00 proposed UG fee is $6,032.21) New MTCU policy which allows the greater of $500, or 10% of the fee, will be Max Tuition Deposit graduate* $500/$1000/$2500 $500/$1000/$2500 implemented in 15-16 for graduate students. Tuition deposit - non refundable portion (cancellation fee) - Ministry approved maximum non-refundable deposit for new and returning 400.00 undergraduate 400.00 students is $500 Tuition deposit - non refundable portion (cancellation fee) - Ministry approved maximum non-refundable deposit for new and returning $500/$1000/$2500 500.00 graduate* students Transcript 15.00 15.00 Replacement / management of Graduation Document 70.00 70.00 ID Card - initial issuance for CE 20.00 20.00 ID Card Replacement 35.00 35.00 NSF Cheque/Credit Card Rejections 50.00 50.00 Unreturned convocation gowns/hoods 200.00 200.00 Addition to Registration Record 100.00 100.00 Late Request for Graduation Audit 30.00 30.00 Redeemable Failure Examination (supplemental exam) 50.00 50.00 Grad Studies Application Fee 110.00 110.00 Grad Studies Application Fee - MBA 150.00 150.00 Graduation Administration Fee 40.00 0.00 Eliminated by new MTCU policies Convocation Cost Recovery** 0.00 50.00 To be charged only to students attending convocation Late Application to Graduate 50.00 50.00 Late Application for Transfer Credit 50.00 50.00 Deferral fee 70.00 0.00 Eliminated by new MTCU policies DMZ membership fee (per month) 250/350/380 250/350/380 Fees for other zones under discussion FCAD Portfolio Assessment Fee 50.00 50.00 Architectural Science Portfolio Assessment Fee 50.00 50.00 Evaluation/Application Fee: (domestic and international) 85.00 85.00 Ryerson Application Fee (current students changing programs) 85.00 85.00 Special Letters (to employers, etc.) to confirm eligibility to graduate 20.00 0.00 Eliminated by new MTCU policies Other Special Letters (to employers, etc.) *** various various * current graduate deposit fee and the cancellation fee are the same: $2500 for Computer Networks; $1000 for the MBA program and all international students; $500 for all others **replaces previous graduation administration fee of $40 eliminated by MTCU policy;Board of Governors Meeting 2014-15 Fees Schedule 52 based on costs recovered from estimated attendees April 28, 2014 - Page 79 2014-15 Fees Schedule 2014-15 Fees Schedule – E. Student Residence Fees and Food Plans

Residence Food Plan Student Rent with % (Choice of) with Governance Increase over % increase over Room Type Program Fee Fee** Laundry ResNet Fee Telephone 13/14 13/14 Food Amin Fee Total 2014/15 Pitman Hall Single with shared bath $44.10 $57.90 $50.00 $160.00 $156.00 $7,230.00 3.0% $ 3,303.12 3.0% $ 30.00 $11,031.12 $ 3,597.15 3.0% $ 30.00 $11,325.15 $ 3,983.23 3.0% $ 30.00 $11,711.23

Semi-private $44.10 $57.90 $50.00 $160.00 $156.00 $7,662.00 3.0% $ 3,303.12 3.0% $ 30.00 $11,463.12 $ 3,597.15 3.0% $ 30.00 $11,757.15 $ 3,983.23 3.0% $ 30.00 $12,143.23

Double $44.10 $57.90 $50.00 $160.00 $156.00 $5,783.00 3.0% $ 3,303.12 3.0% $ 30.00 $9,584.12 $ 3,597.15 3.0% $ 30.00 $9,878.15 8 Month Term $ 3,983.23 3.0% $ 30.00 $10,264.23

Suite $44.10 $57.90 $50.00 $160.00 $156.00 $8,012.00 3.0% $ 2,530.57 3.0% $ 30.00 $11,040.57 ILLC Single with private bath $44.10 $57.90 $50.00 $160.00 $156.00 $9,071.00 3.0% $ 3,303.12 3.0% $ 30.00 $12,872.12 $ 3,597.15 3.0% $ 30.00 $13,166.15 $ 3,983.23 3.0% $ 30.00 $13,552.23 O'Keefe House Single $44.10 $57.90 $50.00 $5,804.00 5.0% $5,956.00 Double $44.10 $57.90 $50.00 $4,944.00 5.0% $5,096.00 Triple $44.10 $57.90 $50.00 $4,758.00 5.0% $4,910.00

Residence Pitman Single Food Plan Student Rent with 12 (Choice of) with Governance Additional % increase over Room Type Program Fee Fee** Laundry ResNet Fee Telephone Weeks 12/13 Food Amin Fee Total 2014/15 Pitman Hall Single with shared bath $44.10 $57.90 $50.00 $160.00 $156.00 $9,940.66 $ 3,303.12 $ 30.00 $13,741.78 (new 11 month term for 14-15) $ 3,597.15 $ 30.00 $14,035.81

11 Month11 Term $ 3,983.23 $ 30.00 $14,421.89 ** Governance fee is allocated to the Residence Council.

Fee increase approved by student referendum.

Board of Governors Meeting 53 April 28, 2014 - Page 80 2014-15 Fees Schedule

RESOLUTION

RE: 2014-15 Budget

BE IT AND IT IS HEREBY RESOLVED:

THAT the 2014-15 Budget be approved as presented.

April 28, 2014

Board of Governors Meeting April 28, 2014 - Page 81

RESOLUTION

RE: 2014-15 FEES

BE IT AND IT IS HEREBY RESOLVED:

THAT the 2014-15 Tuition Fees (both Domestic and International); Non tuition- Related Fees; Departmental Lab/Ancillary Fees; Service Fees; Residence Fees and Food Plans be approved as presented.

April 28, 2014

Board of Governors Meeting April 28, 2014 - Page 82

BOARD OF GOVERNORS MEETING Monday, April 28, 2014

AGENDA ITEM: Funded projections and Valuation Assumptions of the Ryerson Retirement Pension Plan (RRPP) January 1, 2014

STRATEGIC OBJECTIVES:

_____ Academic ____ Student Engagement and Success ____ Space Enhancement ____ Reputation Enhancement ____ Financial Resources Management __X Compliance (e.g. legislatively required) __X Governance

ACTION REQUIRED: For Approval

SUMMARY: Towers Watson (TW) conducts a valuation of the plan each year with preliminary results presented at the June ERPC meeting. In order to conduct the valuation, the underlying assumptions must be reviewed and modified where necessary.

In September 2013, TW provided the Committee with projections of the funded status of the plan over the next three years. The funded status was greater than 100%, but just marginally, and any change in assumptions could turn surpluses into deficits.

For the January 1, 2014 valuation, TW is making a number of recommendations related to actuarial assumptions. The most significant of these is that the University adopts the new mortality tables that were developed by the Canadian Institute of Actuaries. TW also recommends that updates be made to the future commuted value basis, the discount rate and the salary increase assumption. The OMERS investment return was greater than the “Best Estimate” and, on a smoothed basis, greater than the discount rate.

Based on the preliminary analyses, with the changes in assumptions recommended, the Ryerson Retirement Pension Plan will be in a small surplus position of $7m as at January 1, 2014. This preliminary funded status does not yet reflect adjustments for membership data.

The preliminary valuation results, including adjustments for membership data, will be available at the June ERPC meeting. If the results are positive, the recommendation will be made to file

Board of Governors Meeting April 28, 2014 - Page 83 the report which means the next required report will be January 1, 2017.

The actuary also projects the funded status of the plan over the next three years. Page 17 illustrates the funded status of the plan from 2015 to 2017. On a “Best Estimate” basis, all indications are that the Plan will be in a surplus position in each of these years.

However, the projections still only provide a small surplus and for this reason, the University will be taking a proactive approach by working with the Joint Pension Committee members to explore and develop strategies ensure the sustainability of the plan over the long term.

BACKGROUND: Valuations of the RRPP are conducted annually, and presented to the ERPC for approval in September. The primary purpose of the valuation is to determine whether the assets of the plan are sufficient to satisfy the liabilities on both a going concern basis (i.e. the plan continues indefinitely) and on a solvency basis (i.e. the plan is discontinued as of the valuation date).

The second part of the presentation deals with the projected funded status of the plan over a 3 year period. If a registered pension plan has assets in excess of 125% of its liabilities, it is deemed to have excess surplus. If excess surplus exists, the Income Tax Act does not allow the University to make contributions to the plan. If the funded ratio falls below 100%, the plan is in a deficit. If the plan shows a deficit in a year when the valuation report must be filed, changes must be made to restore the funded ratio to 100%.

COMMUNICATIONS STRATEGY: N/A

PREPARED BY:

Name: Christina Sass-Kortsak, Assistant Vice President, Human Resources Date: April 10, 2014

APPROVED BY:

Name: Julia Hanigsberg, Vice President, Administration & Finance Date: April 10, 2014

Board of Governors Meeting April 28, 2014 - Page 84 Proposed Assumption Changes and Funded Status Projections Ryerson Retirement Pension Plan

Meeting of the Employee Relations and Pension Committee April 17, 2014 Karen Burnett

 Actuarial Assumptions and Methods  Projection of the Funded Position  Solvency and Wind Up Valuation Observations  Next Steps for the ERPC

Please note that all figures disclosed herein are estimates only based on January 1, 2013 data and preliminary asset information as at January 1, 2014.

2 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 86 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Actuarial Assumptions and Methods

Board of Governors Meeting © 2014 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers WatsonApril client 28, use 2014 only. - Page 87 Actuarial Assumptions and Methods

 Actuarial assumptions and methods are reviewed annually  Proposed changes in assumptions for the January 1, 2014 valuation are as follows:  update to mortality table to new CIA Public Sector Mortality table including new projection scale (without pension size adjustment)  update to the discount rate (real and nominal)  update to commuted value basis  update to the salary increase assumption  All other assumptions and methods remain unchanged from 2013

4 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 88 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Mortality Table Developments in Canada

 The Canadian Institute of Actuaries (CIA) released its final report on pensioner mortality experience in February 2014  Many plans, including Ryerson RRPP, reference the 1994 Uninsured Pension Mortality Table (UP94) projected with mortality improvements. This table is based on US experience that is over 20 years old – Does not reflect increasing life expectancy  The final CIA report proposes: – new base mortality tables (currently three: private sector, public sector, combined) – a new improvement scale (to address future expected increases in longevity) – size adjustment factors related to average pension size

5 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 89 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Mortality Table Developments in Canada (cont’d)

 Towers Watson is recommending that Ryerson RRPP adopt the new CIA public sector mortality tables and new mortality improvement scales  Increases going concern liabilities by approximately 10.9%  The CIA report does not require the use of pension size adjustments  Given the average monthly pension under the Ryerson RRPP, applying pension size adjustments would further increase going concern liabilities by 1.4%  As conservatism is reflected in other going concern assumptions, Ryerson may consider not applying pension size adjustments at this time – Pension size adjustments may be required in the future based on actuarial guidance and/or regulator or auditor requirements

6 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 90 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx

Real Discount Rate

 The nominal discount rate represents the expectation of the returns on asset investments over the long term  The real discount rate is the nominal discount rate net of inflation  TW has always included a margin for adverse deviation in the real discount rate  Margins address uncertainty and help buffer the effect of future losses  Historically set with reference to TW’s Global Investment Asset Model using Investment Policy asset mix – For 2014, given OMERS new asset classes, the distribution of 20 year real returns was obtained from OMERS – Distribution obtained shows higher expected long term returns as compared to January 2013. Higher returns likely a result of: • Partial recovery of the financial markets in 2013 • Potential higher expected returns related new asset classes implemented by OMERS in 2013, although no history available to provide added support  Ryerson’s margin for conservatism has historically been set with reference to the 35th to 40th percentile

7 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 91 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Real Discount Rate (cont’d) Distributions of 20-year Real Rates of Return December 2013 December 2012 Percentiles Asset Mix and Investment Model Asset Mix and Investment Model 25th 3.67% 3.30% 34th 4.25% 3.89% 36th 4.35% 4.00% 38th 4.46% 4.15% 40th 4.57% 4.25% 42nd 4.67% 4.37% 44th 4.80% 4.49% 46th 4.92% 4.61% 48th 5.02% 4.73% 50th (median) 5.11% 4.87% 75th 6.56% 6.46%

* Before investment expenses (under passive management) of approximately 0.05%. Does not account for any reward for active investment management in advance.

8 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 92 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Real Discount Rate (cont’d)

 Towers Watson can professionally sign off on a range of acceptable discount rates  Increasing the main discount from 4.20% to 4.25% rate is based on:  Adopting the same discount rate assumed by OMERS for their pension valuation  Acknowledgement that Ryerson understands that, even with this increase, it is funding the RRPP at probably a higher level of conservatism than in prior years, but OMERS new asset strategy makes the measurement of the size of margin less reliable until we have more experience with their strategy  Preliminary recommendation for the January 1, 2014 valuation: Real discount rate 4.25% p.a. Price inflation + 2.25% p.a. Nominal discount rate 6.50% p.a.

9 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 93 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Salary Increase and Commuted Value Assumptions

 Based on direction provided by Ryerson, the salary increase assumption has been lowered to 3.75%  Reflects Ryerson’s expectation of future salary increases  Consistent with prior years the commuted value basis has been updated to the current CIA basis for determining commuted values  See Appendix for a summary of all proposed assumptions for the January 1, 2014 valuation

10 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 94 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Estimated Impact of Proposed Assumption Changes

Proposed Assumption Estimated change in liability Updated mortality tables +$98 million

Updated discount rate - $12 million

Updated commuted value basis - $9 million Updated salary increase - $57 million Total estimated impact +$20 million

 Total estimated impact does not include gains and losses due to investment or other demographic experience

11 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 95 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Projection of the Funded Position

Board of Governors Meeting © 2014 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers WatsonApril client 28, use 2014 only. - Page 96 Plan Assets - Preliminary

1000

933 950 Percentage amounts are the return that year (net of investment expenses) 5.8% 929 900 883

2.5% 7.8% 850 2.4% 864 5.1% 800 9.4% 5.9% 2.6% $ Millions $ 750

11.2% 700

650 9.9%

600 Jan’09 Jan’10 Jan’11 Jan’12 Jan’13 Jan'14 Preliminary Market Value of Assets Smoothed Market Value of Assets

13 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 97 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Going Concern Liabilities and Assets - Preliminary

1,000 Shaded region is Excess surplus if 950 100% to 125% of assets exceed the liabilities from Jan’10 929 shaded region 922 900 and 110% of liabilities 864 before Jan’10 842 850 825 847 800 788

$ Millions $ 747 792 788 750 749 Deficit if assets 700 703 fall below the shaded region 650

600 Jan'14 Jan’09 Jan’10 Jan’11 Jan’12 Jan’13 Preliminary Actuarial Liabilities Smoothed Market Value of Assets *includes proposed assumption changes

14 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 98 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Projections of the Funded Position

 Projections from January 2013 member data and January 2014 unaudited asset data  Assumptions for projections Projection experience  No other experience gains or losses on liabilities (including earnings)  5% active member population growth every year  Assets (at market value) achieve gross investment returns as follows

Gross annual return for the period 2014 to 2017

‘Optimistic’ estimate* 15%

‘Best’ estimate* 8%

‘Pessimistic’ estimate* 1%

* These are 75th, 50th and 25th percentiles of gross nominal returns as provided by OMERS in March 2014 based on OMERS Long Term Asset Mix

15 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 99 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Projections of the Funded Position (cont’d)

 Assumptions for projections (cont’d) Valuation assumptions for current and future valuations  All assumptions for the January 1, 2014 valuation are as given in this presentation Plan assumptions  No other changes in plan provisions

16 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 100 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Going Concern Liabilities and Assets – where we’re headed

1.25

1.20 Excess surplus↑ 1.15 113 Optimistic 1.10 Position 52 1.05 26 7 19 Best Estimate 13 10 1.00 Position 0 Pessimistic

Funded Ratio Funded 0.95 (31) Position (67) 0.90 Deficit 0.85

0.80 Based on Jan’13 Valuation Data 0.75 Jan’10 Jan’11 Jan’12 Jan’13 Jan’14 Jan’15 Jan’16 Jan'17 Preliminary Dollar amounts represent plan

surplus/(deficit) in millions 17 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 101 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Going Concern Valuation Projections Observations

 RRPP funded position is expected to be in a slight surplus at January 2014 as a result of the change in assumptions  Projected funded position expected to remain in a surplus over the near term on both a best case and optimistic scenario  Possible events with potential impacts:  Change in the assumed discount rate  Gains or losses if future salaries increases are less or more than assumed  Future changes to assumptions to reduce/increase the margins (e.g., adopting size adjustment factors from the CIA mortality study)  Other changes to plan provisions  Based on the funded status of the plan as at January 1, 2013, a valuation is not required to be filed until January 1, 2016  If the plan is in a surplus as at January 1, 2014, filing the valuation will extend the next filing deadline to January 1, 2017  When a report is filed showing a going concern deficit, special funding payments over 15 years, would be required

18 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 102 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Solvency and Wind Up Valuation Observations

Board of Governors Meeting © 2014 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers WatsonApril client 28, use 2014 only. - Page 103 Solvency and Wind-up Valuations Observations

 Required by provincial legislation  Methods and assumptions prescribed by legislation and by CIA  Liabilities based on settlement cost  Smoothing of assets permitted for purpose of determining statutory solvency deficiency – Liabilities must then be smoothed also – The value of indexing may be excluded from the statutory solvency liabilities  When a report is filed showing a statutory solvency deficiency, special funding payments over 5 years, would be required  If indexing exclusion and smoothing continues to be employed, expect a solvency excess as at January 1, 2014  In addition, increases in commuted value discount rates at the end of 2013 will decrease solvency liabilities

20 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 104 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Next Steps for the ERPC

ERPC Meeting Actions Decisions and Considerations • Review recommended assumptions • Approve assumptions for and estimated funded position purposes of preliminary April based on prior year valuation valuation results updated for assets and assumptions

• Review preliminary valuation • Approve assumptions for final results including gain and loss valuation analysis • Discussions regarding whether June • Review projections of funded status to file the valuation based on preliminary results and alternative scenarios, if any

• Review final valuation results and • Final decision regarding filing projections the valuation • Review of proposed actions September that need to be taken as a result of the valuation (depends on whether the valuation is filed or not)? 22 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 106 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Appendix

Board of Governors Meeting © 2014 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers WatsonApril client 28, use 2014 only. - Page 107 Summary of Key Assumptions

Long Term Economic Assumptions

January 1, 2013 Consider for (Filed) January 1, 2014

A) Inflation rate 2.25% 2.25% (BE)

B) Real discount rate for actuarial liabilities 4.20% 4.25% (C)

C) Nominal discount rate for actuarial liabilities (A+B) 6.45% 6.50% (C)

D) YMPE increases Inflation + 0.75% Inflation + 0.75% (BE)

Inflation + 3% E) Salary increases until 2018 then Inflation + 1.5% (BE) Inflation + 2%

(BE) TW considers the assumption a best estimate (C) TW considers the assumption to be conservative

24 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 108 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Summary of Key Assumptions (cont’d)

Long Term Demographic Assumptions

January 1, 2013 Consider for (Filed) January 1, 2014 Current CIA basis for calculating CVs Same methodology F) Future commuted value basis Disc rate: 1.1% 1st 10 yrs then 1.3% Disc rate: 1.7% 1st 10 yrs then 2.3% Mortality: UP94@2012G Mortality: UP94@2013G

5% at each age before earliest unreduced retirement age (EURA), G) Retirement for active 20% at EURA, Same members 10% at each age after EURA, 100% at age 65

CPM Public Table with generational H) Mortality UP94 projected to [current year+8] mortality improvement

I) Withdrawal (termination) Age- and gender-specific rates Same

TW considers all of the above assumptions to be best estimates

25 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 109 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx Summary of Actuarial Methods

Methods

January 1, 2013 Consider for (Filed) January 1, 2014

J) Actuarial cost method Modified aggregate method Same

Average market value method K) Asset valuation method Same (5-point average) L) Marriage Percentage at 75% Same Retirement

26 towerswatson.com Board of Governors© 2014 Towers Meeting Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. April 28, 2014 - Page 110 G:\Ryerson University - 600651\14\RET\Presentations\2014-04 ERPC Presentation_April 7 2014.pptx

DRAFT RESOLUTION

RE: ACTUARIAL ASSUMPTIONS: January 1, 2014 ______

BE IT AND IT IS HEREBY RESOLVED:

THAT the funded projections and valuation assumptions of the Ryerson Retirement Pension Plan as at January 1, 2014, be approved as presented.

April 28, 2014

Board of Governors Meeting April 28, 2014 - Page 111

BOARD OF GOVERNORS MEETING Monday, April 28, 2014

AGENDA ITEM: Ryerson Retirement Pension Plan Amendments Amendments to the Ontario Pension Benefits Act

STRATEGIC OBJECTIVES: _____ Academic ____ Student Engagement and Success ____ Space Enhancement ____ Reputation Enhancement ____ Financial Resources Management __X_ Compliance (e.g. legislatively required) __X__ Governance

ACTION REQUIRED: For approval/Recommendation

SUMMARY: In July 2012, the Ontario Pension Benefits Act was amended and therefore it is necessary to amend the Ryerson Retirement Pension Plan (RRPP). The RRPP has been administered in compliance with these changes even though the plan had not yet been formally amended. The changes that affect the RRPP are immediate vesting, grow-in provisions and changing the small pension threshold. There are also some amendments to clarify language.

Immediate Vesting Prior to July 1, 2012 employees needed to have two years of plan membership before they were vested. The legislated change to immediate vesting has increased liabilities by an estimated $0.1 to 0.2m. The amended Sections are 2.14, 7.02, 10.01, 10.02, 10.03, 11.02, 11.03, and 11.05.

Grow-in Provisions Grow-in provisions reduce the penalty for early retirement benefits where a member is involuntarily terminated and their age + service is greater than 55 points. The provision was a legislated amendment in recognition of the removal of partial plan terminations. Estimating the cost of this change is difficult given the nature of the obligation. This legislated amendment is reflected in the addition of Sections 10.06 and16.05.

Small Pensions The small pension threshold allows a member to transfer out their annual pension benefit if it is less than 4% of the Years Maximum Pensionable Earnings (YMPE) or if the Commuted Value is

Board of Governors Meeting April 28, 2014 - Page 112

less than 20% of the YMPE. The cost of this legislated amendment is difficult to calculate given the nature of the provision. The amended section is 9.04.

Language Clarifications The last plan re-statement was effective January 1, 2007. Since that time, some language clarifications have been requested. None of these changes impact the pensions payable to members. The affected sections are 6.02, 10.04.

BACKGROUND: These changes were as a result of pension reform measures tabled in the March 2012 budget and Towers Watson provided details of these changes at both the April and June 2012 ERPC meetings. The RRPP was not amended at the time the changes were effective since we anticipated further amendments to the Pension Benefits Act. Since no subsequent amendments have been made, the RRPP text is now being amended.

COMMUNICATIONS STRATEGY: Plan members were notified of the immediate vesting change. Members affected by grow-in and the small pension threshold will be notified if applicable.

PREPARED BY: Name Christina Sass-Kortsak, Assistant Vice President Human Resources Date April 17, 2014

APPROVED BY: Name Julia Hanigsberg, Vice President Administration & Finance Date April 17, 2014

Board of Governors Meeting April 28, 2014 - Page 113 AMENDMENT NO. 4

RYERSON RETIREMENT PENSION PLAN

WHEREAS Ryerson University (the “University”) established the Ryerson Retirement Pension Plan (the “Plan”) effective April 1, 1964, as amended from time to time; and

WHEREAS the Board of Governors of the University (the “Board”) reserves the right to amend the Plan pursuant to Section 16.01 of the current Plan text;

WHEREAS the Board wishes to amend the Plan to comply with legislative changes to the Ontario Pension Benefits Act and to clarify the language of the Plan text;

NOW THEREFORE BE IT RESOLVED THAT, effective July 1, 2012 the Plan is amended as follows:

1. Section 2.14 is amended by deleting the words “and completes two years of membership in the Plan or two years of Credited Service”.

2. Section 6.02 is deleted and replaced with the following:

“6.02 Early Retirement

A Member who reaches Termination Date at Early Retirement shall be entitled to receive an Early Retirement Pension. An Early Retirement Pension is a pension commencing on the first day of the month following the Member’s Early Retirement Date, or the first day of any month after Early Retirement Date and before Normal Retirement Date, determined in accordance with Section 7.02.”

3. The first paragraph of Section 7.02, and Sections 7.02(a) and (b) is replaced with the following:

“Each Member who reaches Termination Date on Early Retirement Date pursuant to Section 6.02 and is not entitled to an unreduced Early Retirement Pension pursuant to Section 6.03 shall be entitled to receive an Early Retirement Pension which shall be equal to the benefit

- 1 -

Board of Governors Meeting April 28, 2014 - Page 114 calculated in accordance with Section 7.01 based on the Member's Credited Service accrued to Termination Date and Average Pensionable Salary and the YMPE as of Early Retirement Date.”

4. Section 9.04 is replaced with the following:

“9.04 Small Pensions A pension payable under the Plan to a Member or the Member’s Spouse may be commuted and paid in a lump sum at the discretion of the Employer if:

(i) the pension payable under this Plan to the Member at Normal Retirement Date is not more than 4% of the YMPE at a Member’s Termination Date or death; or

(ii) the lump sum Actuarial Equivalent of the Member’s pension is less than 20% of the YMPE at a Member’s Termination Date or death; or

such other amount as may be permitted under the Act and Income Tax Rules from time to time.

For greater certainty, this provision shall apply to Members who terminate employment, retire or die on or after July 1, 2012, as well as those who terminated employment, retired or died before that date to the extent permitted under the Act and the Income Tax Rules and as determined by the Employer.”

5. Section 10.01 is replaced with the following:

10.01 [INTENTIONALLY DELETED]

6. Section 10.02 is replaced with the following:

“10.02 Deferred Vested Pension

A Member who reaches Termination Date and is not entitled to receive an immediate pension under the Plan, shall be entitled to receive a Deferred Vested

- 2 -

Board of Governors Meeting April 28, 2014 - Page 115 Pension. A Deferred Vested Pension is a pension commencing on the Member's Normal Retirement Date determined in accordance with Section 10.03.”

7. The first paragraph of Section 10.03, and subparagraph 10.03(a) and (b) is replaced with the following:

“Subject to Article 9, a Member’s Deferred Vested Pension, payable in accordance with Article 8, shall be equal to the benefit calculated in accordance with Section 7.01 based on the Member’s Credited Service, Average Pensionable Salary and the YMPE as of Termination Date.”

8. Section 10.04 is amended by deleting the words “, and further reduced as provided in Section 7.01(d)”.

9. A new Section 10.06 is added as follows:

“10.06 Involuntary Termination

If the Employer terminates the Continuous Service of a Member (in circumstances that are an “activating event” under Section 74 of the Act) before the Member is eligible to retire, after the Member’s age plus Continuous Service or Plan Membership equals 55, and if the Member elects to start such deferred pension prior to his Normal Retirement Date, then the adjustment to that pension for early commencement, if any, shall be determined in accordance with Section 7.01 or 7.02, as if the Member had continued to work until the commencement date chosen by the Member, instead of Section 10.04.

Such Member shall also be eligible for a Supplemental Early Retirement Pension in accordance with Section 7.03, instead of Section 10.04, if the Member had completed 10 years of Service or Plan membership at his Termination Date.

The amount of the pension and/or the Supplemental Early Retirement Pension as provided under this Section 10.06 shall be based only on the Credited Service, Average Pensionable Salary and the YMPE of the Member at his Termination Date.

- 3 -

Board of Governors Meeting April 28, 2014 - Page 116 For greater certainty, this provision shall apply to Members who terminate employment on or after July 1, 2012, and shall only apply where mandated to be provided to a Member under Section 74 of the Act, as amended from time to time.”

10. Section 11.02 is replaced with the following:

11.02 [INTENTIONALLY DELETED]

11. Section 11.03 is amended by deleting the words “who has completed two years of membership in the Plan or accrued two years of Credited Service dies while in Service with the Employer” from the first sentence.

12. Section 11.05 is amended by deleting the words “but has completed two years of Plan membership or accrued two years of Credited Service” from the last paragraph.

13. Section 16.05 is added as follows:

“16.05 Limitation on Partial Discontinuance

Notwithstanding the other provisions of this Article 16, the Plan may only be discontinued in part to the extent permitted by the Act.”

RESOLVED FURTHER THAT the Vice President, Administration and Finance is authorized to execute such other agreements, certificates, consents, corporate papers and other documents, make such payments and take all other action (including the filing of all required documents with appropriate governmental agencies and ensuring compliance with any reasonable charges or conditions imposed by the Canada Revenue Agency, the Financial Services Commission of Ontario, or any other appropriate governmental authorities in connection with the actions authorized or approved in the foregoing resolutions) that such official of the University deems necessary or desirable to carry out the intent and purposes of the foregoing resolution.

- 4 -

Board of Governors Meeting April 28, 2014 - Page 117 DATED the______day of ______, 2014 .

______

Name Signature

______

Date Title

- 5 -

Board of Governors Meeting April 28, 2014 - Page 118 2.14 "Early Retirement Date" of a Member shall mean the last day of any month coincident with or following the date the Member attains age 55 and completes two years of membership in the Plan or two years of Credited Service, and prior to Normal Retirement Date.

6.02 Early Retirement

A Member who reaches Termination Date at Early Retirement Date shall be entitled to receive an Early Retirement Pension. An Early Retirement Pension is a pension commencing on the first day of the month following the Member's Normal Retirement Date, or the first day of the month following the Member's Early Retirement Date, or the first day of any month after Early Retirement Date and before Normal Retirement Date, determined in accordance with Section 7.02.

7.02 Early Retirement Pension

Each Member who reaches Termination Date on Early Retirement Date pursuant to Section 6.02 and is not entitled to an unreduced Early Retirement Pension pursuant to Section 6.03 shall be entitled to receive an Early Retirement Pension which shall be the benefit computed as follows:

(a) If the Member has completed ten years of Service, the Member's Early Retirement Pension shall be equal to the benefit calculated in accordance with Section 7.01 based on the Member's Credited Service, Average Pensionable Salary and the YMPE as of Early Retirement Date.

(b) If the Member has completed two years of Plan membership or accrued two years of Credited Service but not ten years of Service, the Member's Early Retirement Pension shall be equal to the benefit calculated in accordance with Section 7.01 based on the Member's Credited Service accrued after December 31, 1986 to Termination Date and Average Pensionable Salary and the YMPE as of Early Retirement Date; PLUS a refund of the Member's contributions made prior to January 1, 1987, with Refund Interest to Termination Date.

Board of Governors Meeting April 28, 2014 - Page 119 equal to the benefit calculated in accordance with Section 7.01 based on the Member's Credited Service accrued to Termination Date and Average Pensionable Salary and the YMPE as of Early Retirement Date.

9.04 Small Pensions

In the event that any pension payable under this Plan is less than 2% of the YMPE at a Member's Termination Date, or such other amount that may be permitted in accordance with the Act and the Income Tax Rules from time to time, the Employer may elect to pay the pension in a single lump sum settlement of the Commuted Value, such payment representing the full discharge of all liability with respect to such pension.

A pension payable under the Plan to a Member or the Member’s Spouse may be commuted and paid in a lump sum at the discretion of the Employer if:

(i) the pension payable under this Plan to the Member at Normal Retirement Date is not more than 4% of the YMPE at a Member’s Termination Date or death; or

(ii) the lump sum Actuarial Equivalent of the Member’s pension is less than 20% of the YMPE at a Member’s Termination Date or death; or

such other amount as may be permitted under the Act and Income Tax Rules from time to time.

10.01 Termination Before Vesting

If a Member reaches Termination Date, is not entitled to receive a pension under the Plan, and has not completed two years of membership in the Plan nor accrued two years of Credited Service, such Member shall receive a refund of Member contributions, including Member contributions contributed under a reciprocal agreement as provided in Article 12, made to the Plan with Refund Interest.

Board of Governors Meeting April 28, 2014 - Page 120

10.02 Deferred Vested Pension

A Member who reaches Termination Date, is not entitled to receive an immediate pension under the Plan and has completed two years of membership in the Plan or has accrued two years of Credited Service, shall be entitled to receive a Deferred Vested Pension. A Deferred Vested Pension is a pension commencing on the Member's Normal Retirement Date determined in accordance with Section 10.03.

10.03 Amount of Deferred Vested Pension

Subject to Article 9, a Member's Deferred Vested Pension, payable in accordance with Article 8, shall be calculated as follows:

(a) If the Member has completed ten years of Service, the Member's Deferred Vested Pension shall be equal to the benefit calculated in accordance with Section 7.01 based on the Member's Credited Service, Average Pensionable Salary and the YMPE as of Termination Date.

(b) If the Member has completed two years of Plan membership or accrued two years of Credited Service but not ten years of Service, the Member's Deferred Vested Pension shall be equal to the benefit calculated in accordance with Section 7.01 based on the Member's Credited Service accrued after December 31, 1986 to Termination Date and Average Pensionable Salary and the YMPE as of Termination Date; PLUS a refund of the Member contributions made prior to January 1, 1987 with Refund Interest to his Termination Date.

Notwithstanding the foregoing, where for any reason other than death or retirement, a Member reaches Termination Date after completing two years of membership in the Plan or accrued two years of Credited Service and:

(i) before completing ten years of Service and before attaining 45 years of age, the contributions made by the Member to the Pension Fund prior to January 1, 1987 shall be refunded to the Member with Refund Interest upon request, in lieu of the benefit attributable to the Member's Credited Service earned prior to January 1, 1987, unless such contributions have been refunded as provided in sub-paragraph (b) above;

Board of Governors Meeting April 28, 2014 - Page 121 (ii) after completing ten years of Service and attaining 45 years of age, the contributions made by the Member to the Pension Fund after January 1, 1965 together with Refund Interest shall not be refunded.

Any contribution made by a Member as a result of a reciprocal agreement as provided in Article 12, together with Refund Interest shall be included as a contribution of the Member in the determination of a refund as provided above.

equal to the benefit calculated in accordance with Section 7.01 based on the Member’s Credited Service, Average Pensionable Salary and the YMPE as of Termination Date.

10.04 Early Commencement of Deferred Vested Pension

A Former Member who is entitled to a Deferred Vested Pension in accordance with Section 10.02 above, may, by submitting an appropriate election form as prescribed by the Employer to the Employer, elect to have such benefit commence prior to Normal Retirement Date. Such benefit may commence on the first day of any month subsequent to the Member's attainment of age 55, in which event the Deferred Vested Pension, computed as provided in Section 7.01(a), Section 7.01(b) and Section 7.01(c), will be reduced to reflect the earlier commencement of such benefit by five percent for each year that the age of the Former Member on the date such Deferred Vested Pension commences is less than 65 years, and further reduced as provided in Section 7.01(d). The first day of the month after the Employer receives such election form shall be deemed to be the date the Deferred Vested Pension commences.

11.02 Death Prior to Vesting

In the event of the death of a Member while in the Service of the Employer before completing two years of membership in the Plan or accruing two years of Credited Service and prior to the commencement of payment of a benefit under the Plan, the Member's Beneficiary, or if a Beneficiary has not been designated, the Member's estate, shall receive a refund of the Member's contributions, including any Member contributions paid under a reciprocal agreement as provided in Article 12, made to the Plan with Refund Interest.

Board of Governors Meeting April 28, 2014 - Page 122 11.03 Spousal Pre-Retirement Death Benefit

Where a Member who has completed two years of membership in the Plan or accrued two years of Credited Service dies while in Service with the Employer, or a Former Member who is entitled to a Deferred Vested Pension and has not transferred the value of the benefit out of the Pension Fund, or a Former Member who is entitled to an Early Retirement Pension but has elected to defer commencement of such benefit as provided in Section 6.02, dies prior to the commencement of the pension, the Member's or Former Member's Spouse, provided the Member or Former Member and the Spouse have not signed waivers in the prescribed form and filed them with the Employer, shall be entitled to receive a refund and a death benefit in lieu of any other benefit payable under the Plan. Such refund shall be equal to a refund of Member contributions made prior to January 1, 1987 with Refund Interest. Such death benefit shall be equal to the Commuted Value of the Member's benefit calculated using Credited Service accrued after December 31, 1986 to the Member's Termination Date and Average Pensionable Salary and the YMPE as of the Member's Termination Date.

11.05 Children's Pre-Retirement Death Benefit

If a deceased Member or Former Member who has not completed ten years of Service but has completed two years of Plan membership or accrued two years of Credited Service as of the date of death does not leave a Spouse entitled to a benefit as provided in Section 11.03 or if the Spouse and the Member or Former Member have waived the Spouse's entitlement to the benefit as provided in Section 11.03 by signing the prescribed waiver form, no benefit shall be payable to the Children of such Member or Former Member. Any death benefit payable shall be paid in accordance with Section 11.06 below. No death benefit payable in accordance with this Section 11.05 shall exceed the maximum pre-retirement death benefit permitted under the Income Tax Rules.

16.05 Limitation on Partial Discontinuance

Notwithstanding the other provisions of this Article 16, the Plan may only be discontinued in part to the extent permitted by the Act.

Board of Governors Meeting April 28, 2014 - Page 123

DRAFT RESOLUTION

RE: Ryerson Retirement Pension Plan Amendments Amendments to the Ontario Pensions Benefits Act ______

BE IT AND IT IS HEREBY RESOLVED:

That the amendments to the Ryerson Retirement Pension Plan, which are in keeping with the amendments to the Ontario Pensions Benefits Act of July 2012, be approved as presented.

April 28, 2014

Board of Governors Meeting April 28, 2014 - Page 124

EMPLOYEE RELATIONS AND PENSION COMMITTEE April 17, 2014

AGENDA ITEM: 2013 Environmental Health and Safety Annual Report to the Board of Governors

STRATEGIC OBJECTIVES:

Academic Student Engagement and Success Scholarship, Research and Creative Activity Graduate Program Development Space Enhancement Reputation Enhancement Financial Resources Management  Compliance (e.g. legislatively required) Governance

ACTION REQUIRED: For information, review and acceptance.

Review the information detailed in the 2013 Environmental Health and Safety (EHS) Annual Report to be satisfied that the EHS systems and infrastructure are supporting and measuring the performance and progression of the University risk management strategy.

SUMMARY:

While the EHS related risk profiles have expanded over the past few years, reflecting growth in research activity, experiential learning, entrepreneurial opportunities and campus infrastructure, they have been matched by EHS initiatives which are adaptive and robust. These initiatives continue to strengthen our capacity and capability to meet the rigor of changing conditions and organizational behaviors which affect our scope and degree of risk.

This past year, many indicators demonstrated a strong risk management culture. The 2013 performance indicator highlights include • maintaining an extremely low number and severity of injuries which has earned Ryerson a total premium rebate of over $1M over the past several years, • sustaining our position as a sector leader in accident prevention, and • increasing community engagement in smart risk taking actions.

BACKGROUND: In accordance with the Ontario Occupational Health and Safety Act, the Board of Governors approved the University Environmental Health and Safety Management System

Board of Governors Meeting April 28, 2014 - Page 125 Policy in 1991. This policy and supporting programs and expertise establishes the means by which Ryerson will achieve regulatory compliance and demonstrate due diligence.

COMMUNICATIONS STRATEGY: Printed report will be distributed

PREPARED BY:

Name: Julia Lewis, Director, Integrated Risk Management (formerly Environmental Health Safety & Security) Date: March 26, 2014

APPROVED BY:

Name: Julia Hanigsberg, VP Administration and Finance Date: March 31, 2014

Board of Governors insert date Board of Governors Meeting April 28, 2014 - Page 126 Board of Governors Meeting April 28, 2014 - Page 127 Contents

2013 Performance Highlights // p.6 WSIB Injury Claims Profile // p.7 Report Card on Leadership // p.8 Sustained University Sector Leadership // p.8 Trends // p.9

The overall performance of our Environmental Health and Safety (EHS) strategy is ultimately measured by a positive regulatory profile and influence, accident and incident rates trending toward zero and a fully engaged community culture of smart risk-taking.

Board of Governors Meeting April 28, 2014 - Page 128 Trends in Sector Performance

LTI Claims Frequency Rates (# of claims/100 FTE workers) from 2005-2012

Educational Sector University Group Ryerson University

Board of Governors Meeting April 28, 2014 - Page 129 Overall Performance Index of Each Ontario University

Ryerson University Other Universities > 1 = poor performance and surcharge

Board of Governors Meeting April 28, 2014 - Page 130 Highlights

• #1 in NLTI’s #2 in LTI’s #2 PI (out of 18 universities) • No orders, fines or penalties imposed by regulatory bodies • Overall community accidents <0.1% (44 total) • 0.26 PI resulting in tentative rebate of $206,000 • 4,400 persons trained in EHS-related courses • 100% safety performance reviews performed by Chairs/department heads

Board of Governors Meeting April 28, 2014 - Page 131

BOARD OF GOVERNORS MEETING Date: Monday, April 28, 2014

AGENDA ITEM:

Ryerson Performance Indicators — March 2014 Report

STRATEGIC OBJECTIVES

____ Academic ____ Student Engagement and Success ____ Space Enhancement ____ Reputation Enhancement ____ Financial Resources Management ____ Compliance (e.g. legislatively required) __X_ Governance

ACTION REQUIRED: Information

SUMMARY: This report presents a set of performance indicators that have been developed to provide annually updated measures of University performance over a wide range of issues of interest to the Board of Governors. Also included are the core performance measures.

BACKGROUND: The Performance Indicators allow the Board to track progress over time on issues central to the mission of the University. Where possible, the indicators provide comparisons against other universities. They are presented in a graphical manner to facilitate interpretation and have been updated to incorporate 2012-13 data. The Indicators are tracked at the level of the University. The University tracks academic-related indicators at the Faculty, Program or School/Department level through the Senate’s Progress Indicators.

COMMUNICATIONS STRATEGY: The Ryerson Performance Indicators — March 2014 Report will be disseminated broadly within the Ryerson community and posted on the University’s website.

PREPARED BY: Name Paul Stenton, Deputy Provost and Vice Provost, University Planning Date February 28, 2014

Board of Governors Meeting April 28, 2014 - Page 132

Ryerson Performance Indicators

March 2014

Board of Governors Meeting April 28, 2014 - Page 133 Table of Contents

Introduction ...... i

Table A: Ryerson Performance Indicators Classification ...... iii

Table B: Ryerson Performance Indicators and Strategic Priorities ...... iv

1. Strategic Direction Indicators

Figure 1.1: Satisfaction with Overall Quality of Education Received at Ryerson...... 1

Figure 1.2: National Survey of Student Engagement: Benchmark Summary Scores and Comparisons ...... 1

Figure 1.3: Applications : Registrants Ratio ...... 2

Figure 1.4: Mean Entering Average from Secondary School ...... 2

Figure 1.5: Scholarships and Bursaries as Share of Total Operating Expenditures ...... 3

Figure 1.6: % of Students Retained from Year I after 1, 2 and 3 Years of Study and MTCU Calculated Graduation Rate: % of Entering Students Who Graduated Within 7 Years ...... 3

Figure 1.7: CSRDE 6-Year Graduation Rate and First-Year Retention Rate ...... 4

Figure 1.8: MTCU Employment Rate: 6 Months after Graduation and 2 Years after Graduation ...... 4

Figure 1.9: Percentage of Faculty with Doctoral Degrees ...... 5

Figure 1.10: Value of Peer-Adjudicated Research Grants per Eligible Faculty Member and Number of Peer-Adjudicated Research Grants per Eligible Faculty Member ...... 5

Figure 1.11: Total External Research Funding ...... 6

Figure 1.12: Library Expenditures as Share of Total Operating Expenditures ...... 6

Figure 1.13: Library Expenditures per FFTE Student ...... 7

Board of Governors Meeting April 28, 2014 - Page 134

Table of Contents (Continued)

2. Financial Capacity Indicators

Figure 2.1: Operating Deficit/Surplus as a Percentage of Operating Revenue ...... 8

Figure 2.2: Total Liabilities as Share of Total Assets ...... 8

Figure 2.3: Long Term Debt per FFTE Student ...... 9

Figure 2.4: Endowment per FFTE Student ...... 9

Figure 2.5: Ryerson University Endowment Fund ...... 10

3. Effective Management Indicators

Figure 3.1: Student : Faculty Ratio ...... 11

Figure 3.2: Faculty Turnover Rate and Staff Turnover Rate...... 11

Figure 3.3: Staff : Faculty Ratio ...... 12

Figure 3.4: Student : Staff Ratio ...... 12

Figure 3.5: Actual Space Inventory versus Space Guidelines Calculated by Council of Ontario Universities ...... 13

Figure 3.6: Facilities Condition Index (Deferred Maintenance / Current Asset Value) ...... 13

4. University Profile Indicators

Figure 4.1: Percentage of Alumni Who Made a Donation to University ...... 14

Figure 4.2: Annual Number of Non-Alumni Donors ...... 14

Figure 4.3: Annual Level of Donation Commitments ...... 15

Figure 4.4: Annual Level of Donations Received ...... 15

Figure 4.5: Media References to Ryerson: Newspaper Clippings, Newspaper Impressions and Broadcast References ...... 16

Board of Governors Meeting April 28, 2014 - Page 135 Ryerson Performance Indicators i

Introduction

Ryerson Performance Indicators have been developed to provide a set of annually updated measures of University performance over a wide range of issues of interest to the Board of Governors. They are presented in a graphical manner to facilitate interpretation and have been updated to incorporate 2012-13 data.

The Performance Indicators allow the Board to track progress over time on issues central to the mission of the University. Where possible, the indicators provide comparisons against other universities. The Indicators are tracked at the level of the University. The University tracks academic-related indicators at the Faculty, Program or School/Department level through Senate’s Progress Indicators.

The Ryerson Performance Indicators provide technically sound measures that were chosen for their relevance, the reliability of underlying data, the ongoing accessibility to underlying data, and the clarity of what is measured. Nevertheless, care should be taken in drawing conclusions from these indicators. Cautions include:

. the Indicators only measure what is quantifiable and where data are available . comparator information is based on standardized data and measures that reflect “average” universities . comparators are not designed as benchmarks . Ryerson is unique when compared to the program mix, enrolment and budgets of other Canadian universities

There are thirty-two Ryerson Performance Indicators that are classified into four primary categories that correspond to oversight of: Strategic Direction (15 indicators), Financial Capacity (5 indicators), Effective Management (7 indicators), and University Profile (5 indicators).

Table A summarizes the indicators included in the report and the update schedule for each indicator. Table B identifies which indicators may be suitable for assessing progress on the University’s strategic priorities: High Quality, Societally-Relevant Undergraduate and Graduate Programs, Student Engagement and Success, Learning and Teaching Excellence, SRC Intensity, and Reputation.

Comparator Groups

In order to provide a context for Ryerson's performance, the indicators have also been calculated where possible for groups of other universities. The comparator groups are not necessarily ideal comparators for Ryerson because the mix of programs offered at other institutions differs from that at Ryerson and/or they differ in size.

Ontario Universities

This comparator group includes all Ontario universities: Brock, Carleton, Guelph, Lakehead, Laurentian, McMaster, Nipissing, OCAD University (OCAD U), University of Ontario Institute of Technology (UOIT), Ottawa, Queen's, Ryerson, Toronto, Trent, Waterloo, Western, Wilfrid Laurier, Windsor, and York.

Board of Governors Meeting April 28, 2014 - Page 136 Ryerson Performance Indicators ii

Canadian University Survey Consortium Graduating Student Survey Canadian Universities

This comparator group is only used for the percentage of students satisfied or very satisfied with the overall quality of education indicator that is based on data from the Canadian Undergraduate Survey Consortium (CUSC) Survey of Graduating Students. Participating universities change from year to year and the 2012 participants were: Brock University, Carleton University, Concordia University College of Alberta, Dalhousie University, Grant MacEwan University, Lakehead University, McGill University, Mount Royal University, Nipissing University, Redeemer University College, Ryerson University, Saint Mary’s University, Simon Fraser University, St. Francis Xavier University, The King’s University College, Thompson Rivers University Trent University, Trinity Western University, Tyndale University College and Seminary, Université de Moncton, Université de Montréal, Université de Sherbrooke, Université du Québec à Trois-Rivières, University of Lethbridge, University of Manitoba, University of New Brunswick, University of Northern British Columbia, University of Ontario Institute of Technology, University of Ottawa, University of Regina, University of Saskatchewan, University of the Fraser Valley, University of Waterloo, University of Winnipeg, Wilfrid Laurier University, York University.

U.S. Peers

This comparator group is only used for the National Survey of Student Engagement (NSSE) benchmark summary scores and comparisons. For NSSE 2011, it includes participating public U.S. institutions that award at least 200 Master’s degrees annually, have undergraduate enrolment of at least 10,000 full-time equivalent students, and are primarily non-residential (i.e., fewer than 25 percent of students live on campus): California Polytechnic State University-San Luis Obispo, California State Polytechnic University- Pomona, California State University-Northridge, Eastern Michigan University, Kennesaw State University, Middle Tennessee State University, San Jose State University, University of North Carolina Wilmington, University of South Alabama, University of Texas-Pan American, University of Texas at San Antonio.

Board of Governors Meeting April 28, 2014 - Page 137 Ryerson Performance Indicators iii

Table A: Ryerson Performance Indicators Classification

Indicator May Provide Useful Information For Assessing: Figure Update Performance Indicators by Primary Category Number Schedule Strategic Financial Effective University Direction Capacity Management Profile

STRATEGIC DIRECTION

Satisfaction with Overall Quality of Education Received at Ryerson 1.1 Triennial (Fall) X X X

National Survey of Student Engagement: Benchmark Summary Scores and Comparisons 1.2 Biennial (Fall) X X

Applications : Registrants Ratio 1.3 Annual (Fall) X X

Mean Entering Average from Secondary School 1.4 Annual (Fall) X X

Scholarships and Bursaries as Share of Total Operating Expenditures 1.5 Annual (Summer) X X X

Percentage of Students Retained from Year I After 1, 2, and 3 Years of Study 1.6 Annual (Summer) X X

MTCU Graduation Rate 1.6 Annual (Fall) X X

CSRDE 6-Year Graduation Rate and First-Year Retention Rate 1.7 Annual (Summer) X X

MTCU Employment Rate: 6 Months and 2 Years After Graduation 1.8 Annual (Fall) X X

Percentage of Faculty with Doctoral Degrees 1.9 Annual (Summer) X X

Value and Number of Peer-Adjudicated Research Grants per Eligible Faculty Member 1.10 Annual (Summer) X

Total External Research Funding 1.11 Annual (Fall) X

Library Expenditures as Share of Total Operating Expenditures 1.12 Annual (Summer) X X X

Library Expenditures per FFTE Student 1.13 Annual (Summer) X X X

FINANCIAL CAPACITY

Operating Deficit/Surplus as a Percentage of Operating Revenue 2.1 Annual (Summer) X X

Total Liabilities as Share of Total Assets 2.2 Annual (Summer) X X

Long Term Debt per FFTE Student 2.3 Annual (Summer) X X

Endowment per FFTE Student 2.4 Annual (Summer) X X X X

Ryerson University Endowment Fund 2.5 Annual (Summer) X X

EFFECTIVE MANAGEMENT

Student : Faculty Ratio 3.1 Annual (Summer) X X X

Faculty Turnover Rate 3.2 Annual (Summer) X

Staff Turnover Rate 3.2 Annual (Summer) X

Staff : Faculty Ratio 3.3 Annual (Summer) X

Student : Staff Ratio 3.4 Annual (Summer) X X X

Actual Space Inventory versus Space Guidelines Calculated by Council of Ontario Universities 3.5 Triennial (Winter) X X

Facillities Condition Index (Deferred Maintenance / Current Asset Value) 3.6 Annual (Winter) X X

UNIVERSITY PROFILE

Percentage of Alumni Who Made a Donation to University 4.1 Annual (Summer) X X

Annual Number of Non-Alumni Donors 4.2 Annual (Summer) X X

Annual Level of Donation Commitments 4.3 Annual (Summer) X X

Annual Level of Donations Received 4.4 Annual (Summer) X X

Media References to Ryerson: Newspaper Clippings, Newspaper Impressions and Broadcast References 4.5 Annual (Summer) X X

Board of Governors Meeting April 28, 2014 - Page 138 Ryerson Performance Indicators iv

Table B: Ryerson Performance Indicators and Strategic Priorities

Indicator May Provide Useful Information For Assessing Progress on the University's Strategic Priorities

Figure High Quality, Performance Indicators by Primary Category Number Societally- Student Learning & Relevant Engagement & Teaching SRC Intensity Reputation Undergraduate Success Excellence & Graduate Programs

STRATEGIC DIRECTION

Satisfaction with Overall Quality of Education Received at Ryerson 1.1 X X X X

National Survey of Student Engagement: Benchmark Summary Scores and Comparisons 1.2 X X X X

Applications : Registrants Ratio 1.3 X X

Mean Entering Average from Secondary School 1.4 X X

Scholarships and Bursaries as Share of Total Operating Expenditures 1.5 X

Percentage of Students Retained from Year I After 1, 2, and 3 Years of Study 1.6 X X

MTCU Graduation Rate 1.6 X X X X

CSRDE 6-Year Graduation Rate and First-Year Retention Rate 1.7 X X X X

MTCU Employment Rate: 6 Months and 2 Years After Graduation 1.8 X X X

Percentage of Faculty with Doctoral Degrees 1.9 X

Value and Number of Peer-Adjudicated Research Grants per Eligible Faculty Member 1.10 X

Total External Research Funding 1.11 X

Library Expenditures as Share of Total Operating Expenditures 1.12 X X X

Library Expenditures per FFTE Student 1.13 X X X

FINANCIAL CAPACITY

Operating Deficit/Surplus as a Percentage of Operating Revenue 2.1

Total Liabilities as Share of Total Assets 2.2

Long Term Debt per FFTE Student 2.3

Endowment per FFTE Student 2.4 X

Ryerson University Endowment Fund 2.5 X

EFFECTIVE MANAGEMENT

Student : Faculty Ratio 3.1 X X X

Faculty Turnover Rate 3.2 X X X

Staff Turnover Rate 3.2 X

Staff : Faculty Ratio 3.3 X X

Student : Staff Ratio 3.4 X X

Actual Space Inventory versus Space Guidelines Calculated by Council of Ontario Universities 3.5

Facillities Condition Index (Deferred Maintenance / Current Asset Value) 3.6

UNIVERSITY PROFILE

Percentage of Alumni Who Made a Donation to University 4.1 X

Annual Number of Non-Alumni Donors 4.2 X

Annual Level of Donation Commitments 4.3 X

Annual Level of Donations Received 4.4 X

Media References to Ryerson: Newspaper Clippings, Newspaper Impressions and Broadcast References 4.5 X

Board of Governors Meeting April 28, 2014 - Page 139 Ryerson Performance Indicators: Strategic Direction 1

Strategic Direction Indicators Strategic Direction Indicators Figure 1.1

Satisfaction with Overall Quality of Education Received at Ryerson

100 90      80 70 60 50

Percent 40 30 20 .. 10 0 2000 2003 2006 2009 2012 Year

Satisfied Very Satisfied Error bars indicate estimated magnitude of  Canadian Universities statistical sampling error. Source: Canadian University Survey Consortium (CUSC), Survey of Graduating Students (triennial)

Figure 1.2 National Survey of Student Engagement: Benchmark Summary Scores and Comparisons

Level of Academic Active & Collaborative Student-Faculty Challenge (LAC) Learning (ACL) Interaction (SFI)

100 100 100

75 75 75 < <><<> <>> 50 50 50

25 25 25

0 0 0 1st Year 4th Year 1st Year 4th Year 1st Year 4th Year

Enriching Educational Supportive Campus Supportive Campus Experiences (EEE) Environment (SFI) Environment (SFI) 100 100 100 Arrows designate instances where the 75 75 75 comparator group benchmark summary > > > < > score50 is statistically significantly higher (>) 50 50 or 25lower (<) than Ryerson’s score. 0 25 25 1st Year 4th Year

0 0 Ryerson 1st Year 4th Year 1st Year 4th Year Ontario (excl Ryerson) U.S. Peers Source: National Survey of Student Engagement 2011 (triennial)

Board of Governors Meeting April 28, 2014 - Page 140 Ryerson Performance Indicators: Strategic Direction 2

Figure 1.3

Applications : Registrants Ratio

Ontario 10 Universities Average

4 Applications/Registrants 2

0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12

Note: Includes applications to all choices of university Year (Fall)

Source: Ontario Universities’ Application Centre

Strategic Direction Indicators

Figure 1.4

Mean Entering Average from Secondary School

82 Ontario Universities Average

76 Entering Average Average Entering (%)

70 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 YearYear (Fall) (Fall)

Source: Ontario Universities’ Application Centre; Ryerson Student Information System

Board of Governors Meeting April 28, 2014 - Page 141 Ryerson Performance Indicators: Strategic Direction 3

Figure 1.5

Scholarships and Bursaries as Share of Total Operating Expenditures 10

Work Study 6

5 Scholarships, % Share 4 Awards, Bursaries

0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12

Workstudy component shown as white bars beginning in 2005-06. Year Note: Fiscal year beginning in year shown. Sources: Ryerson Financial Services data

Figure 1.6

% of Students Retained in the same MTCU Calculated Graduation Rate: program from Year 1 After 1, 2 and 3 % of Entering Students Who Graduated Years of Study Within 7 Years 100 85 90 After 1 Year 80 80 Ontario Universities Average After 2 Years 70 75 After 3 Years 60 70 50

40 65

30 60

Proportion of Year I Enrolment (%) Enrolment I Year of Proportion 20 Proportion of Entering Students (%) 55 10

0 50 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 Year (Fall) Entering Students from Year (Fall) Sources: Ryerson Student Information System; Ministry of Training, Colleges and Universities

Board of Governors Meeting April 28, 2014 - Page 142 Ryerson Performance Indicators: Strategic Direction 4

Figure 1.7

CSRDE 6-Year Graduation Rate CSRDE First-Year Retention Rate

Distribution of institutions by six-year graduation rate, Fall 2006 Distribution of Institutions by first-year retention rate, Fall 2011 cohort of first-year, first-time, full-time students entering from cohort of first-time, full-time students entering from secondary secondary schools schools Ryerson = 70.0% Ryerson 70% = 85.8% 60% 60% 50% 50%

40% 40%

30% 30%

20% 20% Percentage of Institutions Percentage 10% Percentage of Institutions 10% 0% 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85 or 0% higher < 50 50-54 55-59 60-64 65-69 70-74 75-79 80-84 85-89 90-96 Six-Year Graduation Rate (%) Retention Rate (%)

U.S. Public Master's I Ontario Institutions (excl Ryerson) U.S. Public Master's I Ontario Institutions (excl Ryerson)

Source: Consortium for Student Retention Data Exchange (CSRDE)

Figure 1.8

MTCU Employment Rate: 6 Months After MTCU Employment Rate: 2 Years After Graduation Graduation

Ontario Universities Average Ontario Universities Average 100 100

90 90

80 80

70 70

60 60

50 50

40 40

30 30

Percentage of Graduating Class (%) 20 Percentage of Graduating Class (%) 20

10 10

0 0 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 Graduating Class Graduating Class Error bars indicate estimated magnitude of Source: Ministry of Training, Colleges and Universities statistical sampling error.

Board of Governors Meeting April 28, 2014 - Page 143 Ryerson Performance Indicators: Strategic Direction 5

Figure 1.9

Percentage of Faculty with Doctoral Degrees

100 Ontario Universities Average 90

0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year Note: To reflect traditional terminal degrees, beginning with 1994 excludes faculty teaching law in Business Management or Environmental Health; and also excludes faculty in the following disciplines: Communication and Design (except Professional Communication), Architectural Sciences, Landscape Architecture, and Nursing; Hospitality and Tourism Management excluded beginning with 1998 Source: Maclean’s Survey of Canadian Universities (prior to 2005-06), Common University Data Ontario, Ryerson Human Resources data

Figure 1.10

Value of Peer-Adjudicated Number of Peer-Adjudicated Research Grants per Eligible Research Grants per Eligible Faculty Member Faculty Member

$20,000 0.6

$18,000 0.5 $16,000

$14,000 0.4 $12,000

$10,000 0.3

$8,000

$/Faculty Member 0.2 $6,000 Grants/Faculty Member Grants/Faculty $4,000 0.1 $2,000

$0 0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year Year Note: Eligible faculty comprises RFA affiliated with teaching departments (excluding limited-term faculty and excluding CUPE); includes only peer-adjudicated funds dispersed by federal granting agencies and allocated for use within the university excluding general research grants; shows amounts awarded rather than expenditures; fiscal year beginning in year shown Source: Ryerson Office of Research Services data

Board of Governors Meeting April 28, 2014 - Page 144 Ryerson Performance Indicators: Strategic Direction 6

Figure 1.11

Total External Research Funding

$35,000

$30,000

$25,000

$20,000

$15,000 $ Thousands $10,000

$5,000

$0 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year

Note: Fiscal year beginning in year shown

Source: Ryerson Office of Research Services

Figure 1.12

Library Expenditures as Share of Total Operating Expenditures 10 9 8 7 Ontario Universities Average 6 5 4 % Share 3 2 1 0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 YearYear

Note: Fiscal year beginning in year shown

Sources: COFO-UO data, Ryerson Financial Services data

Board of Governors Meeting April 28, 2014 - Page 145 Ryerson Performance Indicators: Strategic Direction 7

Figure 1.13

Library Expenditures per FFTE Student

$1,000

$900

$800

$700

$600

$500

$400

$300

$200

$100 Library Expenditures per FFTE Student FFTE per Expenditures Library

$0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 YearYear Note: Fiscal year beginning in year shown

Sources: Ryerson Financial Services data; Ryerson Student Information System

Board of Governors Meeting April 28, 2014 - Page 146 Ryerson Performance Indicators: Financial Capacity 8

Financial Capacity Indicators Financial Capacity Indicators Figure 2.1

Operating Deficit/Surplus as a Percentage of Operating Revenue 10 9 8 7 6 5 Surplus 4 3 2 1 0 -1 -2 -3 -4

% of Operating Revenue of % Operating -5 -6

Deficit -7 -8 -9 -10 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year Note: A balanced budget is shown by the absence of a bar on the zero line; fiscal year beginning in year shown. In 2007-08, the small operating deficit shown is caused by spending of carryforwards from prior years. Source: Audited Financial Statements

Figure 2.2

Total Liabilities as Share of Total Assets 100

70 Ontario Universities Average 60

% of Assets % of 30

0 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 YearYear

Note: Comparators exclude data for UOIT; fiscal year beginning in year shown

Source: Audited Financial Statements

Board of Governors Meeting April 28, 2014 - Page 147 Ryerson Performance Indicators: Financial Capacity 9

Figure 2.3

Long Term Debt per FFTE Student $10,000

$9,000

$8,000

$7,000

$6,000 Ontario Universities $5,000 Average

$4,000

$3,000

$2,000

Long Term Debt per FFTELong Term Student $1,000

$0 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 YearYear

Note: Comparators exclude data for UOIT; FFTE includes students eligible and ineligible for funding; fiscal year beginning in year shown Sources: Audited Financial Statements; Council of Ontario Universities

Figure 2.4

Endowment per FFTE Student $12,000 $11,000 $10,000 $9,000 Ontario Universities Average $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 Endowment per FFTE Student $1,000 $0 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 YearYear

Note: FFTE includes students eligible and ineligible for funding; fiscal year beginning in year shown Sources: Audited Financial Statements; Council of Ontario Universities

Board of Governors Meeting April 28, 2014 - Page 148 Ryerson Performance Indicators: Financial Capacity 10

Figure 2.5

Ryerson University Endowment Fund $130 $120 $110 $100 $90 $80 $70 $60

$ Millions $50 $40 $30 $20 $10 $0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year Note: Fiscal year beginning in year shown Source: Audited Financial Statements

Board of Governors Meeting April 28, 2014 - Page 149 Ryerson Performance Indicators: Effective Management 11

Effective Management Indicators Effective Management Indicators Figure 3.1

Student : Faculty Ratio 30

0 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year

Note: Faculty comprises RFA affiliated with teaching departments and full-time equivalent (based on academic course hours) CUPE positions; excludes students and faculty in Continuing Education Division

Sources: Ryerson Student Information System; Ryerson Human Resources data

Figure 3.2

Faculty Turnover Rate Staff Turnover Rate 20 20 19 19 18 18 17 17 16 16 15 15 14 14 13 13 12 12 11 11 10 10 Turnover Rate(%) Turnover Rate(%) 9 9 8 8 7 7 6 6 5 5 Resignations 4 4 Resignations 3 3 Early Retirements Early Retirements 2 2 Normal Retirements Normal Retirements 1 1 Other Other 0 0 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year Year

Note: Faculty turnover rate calculated across tenure-stream faculty; staff turnover rate calculated across all full-time career and partial year employees in OPSEU Local 596, MAC Group, and CUPE Local 233; “Other” includes redundancies, deaths, and terminations; fiscal year beginning in year shown Source: Ryerson Human Resources data

Board of Governors Meeting April 28, 2014 - Page 150 Ryerson Performance Indicators: Effective Management 12

Figure 3.3

Staff : Faculty Ratio 2

1.5

0.5

0 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year

Note: Faculty comprises RFA affiliated with teaching departments and full-time equivalent (based on academic course hours) CUPE positions; the staff FTE includes Continuing Education FTE but the faculty count does not

Source: Ryerson Human Resources data

Figure 3.4

Student : Staff Ratio

0 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year

Note: Staff FTE and FFTE Students both include Continuing Education Division

Source: Ryerson Student Information System; Ryerson Human Resources data

Board of Governors Meeting April 28, 2014 - Page 151 Ryerson Performance Indicators: Effective Management 13

Figure 3.5

Actual Space Inventory versus Space Guidelines Calculated by Council of Ontario Universities

100

90 Ontario Universities Average

60 Space Inventory / Generated Space (%)

50 92 95 98 01 04 07 10 Year Year Note: Space guidelines as generated by Council of Ontario Universities Building Blocks method; 2010 is the latest year for which data are currently available. Source: Council of Ontario Universities (triennial)

Figure 3.6

Facilities Condition Index (Deferred Maintenance / Current Asset Value)

12 Ontario Universities Average 10

2 Deferred Maintenance as as % Maintenance Deferred Asset of Value 0 98 02 03 04 05 07 10 12 est. YearYear

Note: Council of Ontario Universities did not calculate a Facilities Condition Index for 2008 or 2009; 2012 is the latest year for which data are currently available. Source: Council of Ontario Universities; Ryerson Campus Planning and Facilities (for 1998)

Board of Governors Meeting April 28, 2014 - Page 152 Ryerson Performance Indicators: University Profile 14

University Profile Indicators University Profile Indicators Figure 4.1

Percentage of Alumni Who Made a Donation to University

15 % of Alumni %

0 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Year

Note: Counts alumni who made a donation during the preceding five-year period for each year shown Source: Ryerson Office of University Advancement

Figure 4.2

Annual Number of Non-Alumni Donors 6,000

5,000

4,000

3,000

2,000

1,000

0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12

Corporations Other Organizations Non-Alumni Individuals

Note: Includes payments by cash, cheque, credit card, payroll deductions, securities, and gifts in kind; other organizations includes associations/societies, foundations and organizations Source: Ryerson Office of University Advancement

Board of Governors Meeting April 28, 2014 - Page 153 Ryerson Performance Indicators: University Profile 15

Figure 4.3

Annual Level of Donation Commitments

$35,000,000

$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12

Corporations Other Organizations Non-Alumni Individuals Alumni Note: Includes donation commitments in cash, cheque, credit card, payroll deductions, securities, and gifts in kind; other organizations includes associations/societies, foundations and organizations; full value of multi-year commitments reported in the fiscal year in which commitment first made Source: Ryerson Office of University Advancement

Figure 4.4

Annual Level of Donations Received

$35,000,000

$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12

Corporations Other Organizations Non-Alumni Individuals Alumni

Board of Governors Meeting April 28, 2014 - Page 154 Ryerson Performance Indicators: Financial Capacity 16

Figure 4.5

Media References to Ryerson: Clippings (Print and Online) Publication Impressions Broadcast References 7,500 500 2,500 7,000 450 2,250 6,500 6,000 400 2,000 5,500 350 1,750 5,000 4,500 300 1,500 4,000 250 1,250 3,500 Positive 3,000 200 1,000 2,500 150 750 2,000 Neutral Millions of Impressions References Broadcast 1,500 100 500 1,000 50 500 250 Negative 0 0 0 02 03 04 05 06 07 08 09 10 11 12 13 02 03 04 05 06 07 08 09 10 11 12 13 02 03 04 05 06 07 08 09 10 11 12 13 Year Year Year Note: As of 2008, online clippings began to be tracked in addition to print clippings to reflect a shift occurring in the media landscape from print publications to online; impressions are calculated as a publication’s circulation multiplied by the number of clippings; FP Infomart was engaged as Ryerson’s clip provider in 2005 and uses a somewhat different database of sources than was the case previously.

Source: Ryerson Office of University Advancement

Board of Governors Meeting April 28, 2014 - Page 155 2013-14 Core Performance Measures Updated: February 28, 2014

Short-term Current level March 2013 Short-term Time- Long-term Indicator Objective (Results) level Target frame Objective High Quality, Societally-Relevant Undergraduate and Graduate Programs NSSE: Undergraduate entire educational experience rating* (triennial) 78.9% (2011) 78.9% (2011) 75% - 80% 2014-15 GPSS: Overall rating of the quality of graduate 83.1% (2013) 81.4% (2010) 81% - 86% 2013-14 programs* (triennial)

FTE Enrolment as Share of Target Undergraduate 106% (2013) 103% (2012) 100% 2013-14 x Graduate 100% (2013) 100% (2012) 100% 2013-14

Student Engagement and Success Percentage of students retained from Year 1 87.5% (()2013) 85.8% (()2012) 84% - 88% 2013-14 after 1 Year

CSRDE 6-Year Graduation Rate 71.0% (2013) 70.0% (2012) 68% - 72% 2013-14 Master’s Completion Rates within 3 years 89.0% (2013) 88.9% (2012) 90% 2012-13 Learning and Teaching Excellence NSSE: Prov iding the suppor t s tu den ts nee d to succeed academically (triennial) 65.0% (2011) 65.0% (2011) 63% - 68% 2014-15

SRC Intensity Value and number of peer-adjudicated research $15,107 (2012) $15,014 (2011) $15,000 2015-16 grants per eligible faculty member 0.45 (2012) 0.42 (2011) 0.5 2015-16 Total External Research Funding $32.3M (2012) $28.6M (2011) $32M 2015-16 Reputation Mean entering average from secondary school 83.1% (2013) 82.2% (2012) 81% - 83% 2013-14 Mean entering average in Master’s programs B+ (2013) B+ (2012) B+ 2013-14 Positive print and online references to Ryerson 6,008 (2013) 6,069 (2012) 4,500 2013-14 Results: & amber lettering = below short-term target & green lettering = at or above short-term target & black lettering = target applies to later year Objective: Long-term improvement Long-term maintenance * Percentage of students reporting good or excellent

Board of Governors Meeting April 28, 2014 - Page 156 Board of Governors Meeting March 31, 2014 Page 1.

BOARD OF GOVERNORS Monday, March 31, 2014 Jorgenson Hall – JOR 1410 380 Victoria Street 5:00 p.m. to 7:30 p.m.

Minutes of a meeting of the Board of Governors of Ryerson University held on Monday, March 31, 2014 at 5:00 p.m. in Jorgenson Hall, JOR-1410.

ATTENDANCE:

Present: Phyllis Yaffe (Chair), M. Al Zaibak, P. Ataei, C.A. Bissonnette, L. Bloomberg, J. Cockwell, J. Côté-O’Hara, M. Dionne, M. Frazer, B. Halilovic, G. Kapelos, S. Levy, M. Maheux, N. Mohamed, K. Noor, H. Rosen, D. Shivraj, D. Sookram, K. Varma, C. Yim

Regrets: C. Hilkene, B. Richards J. Fukakusa (Vice Chair)

Board Secretariat: J. Shin Doi, General Counsel and Secretary of the Board of Governors C. Redmond, Governance Officer

Others Attending M. Lachemi, Provost and Vice President Academic J. Hanigsberg, Vice President Administration & Finance A. Kahan, Vice President University Advancement W. Cukier, Vice President Research and Innovation P. Stenton, Deputy Provost and Vice Provost University Planning M. Ng, Director, Office of the President J. Isbister, Vice Provost Faculty Affairs D. O’Neil Green, Assistant Vice President/Vice Provost Equity, Diversity and Inclusion H. Lane Vetere, Vice Provost Students C. Evans, Vice Provost Academic J. Winton, Chief Financial Officer and Assistant Vice President Financial Services C. Sass-Kortsak, Assistant Vice President, Human Resources E. Stroback, Executive Lead Capital Projects and Real Estate J. Mactavish, Dean, Graduate Studies A. Bonato, Associate Dean, Graduate Studies M. Murphy, MBA Student R. Lawrence, RSU Vice-President, Education

Board of Governors Meeting April 28, 2014 - Page 157 Board of Governors Meeting March 31, 2014 Page 2.

P. Shannon, Chair, Theatre School

END OF IN-CAMERA SESSION

1. INTRODUCTION

1.1 Chair’s Remarks

The Chair congratulated Janice Fukakusa for being named CFO of the Year and to Nadir Mohamed for being appointed Ryerson Distinguished CEO in Residence for the 2014/15 year.

The Chair mentioned several items given to Board members, specifically an invitation to the School of Interior Design April 24 Year End Show; the TRSM’s Diversity Institute Report; the Faculty of Science’s 2013 Annual Report and a copy of the Ryerson Review of Journalism’s Spring Magazine.

The Chair also took the opportunity to remind Board members of upcoming events and those that had recently occurred such as the April 3 Mass Exodus show; the Colm Wilkinson Tribute concert on May 11; and the very successful Blue and Gold Ball held on March 28, 2014.

The Chair mentioned that the Vice President Education of the Ryerson Students’ Union, Roshelle Lawrence has asked to speak to the Board about the 2014-15 Budget.

The Chair concluded her remarks by requesting that Performance Indicators and Performance Measures Report be presented at a future Board meeting.

1.2 Approval of the March 31, 2014 Agenda

The agenda was approved as presented.

2. PRESIDENT’S REPORT

The President mentioned the success of the Blue and Gold Ball. The President asked Adam Kahan to present the news that Phyllis Yaffe and her husband John Feld had left a very generous estate gift of $1,000,000 to Ryerson.

The President then updated Board members on the Strategic Mandate Agreement and the fact the University’s agreement has not been signed with the government yet. The President reported that the government’s view of the agreement may have a positive effect on the 2014- 15 budget.

The President also spoke of the major capital expansion document released by the government. The two-step process may require submissions by universities at some point in the summer

Board of Governors Meeting April 28, 2014 - Page 158 Board of Governors Meeting March 31, 2014 Page 3.

months.

The President spoke of his recent trip to South Africa and India and presented a video on the opening of the India DMZ startup in Mumbai.

The President then introduced Jennifer Mactavish, Dean, Yeates School of Graduate Studies, who gave background information on the Graduate Education Video Competition. Dean Mactavish introduced Associate Dean, Anthony Bonato and MBA student Michael Murphy who had won first place in a competition amongst graduate students on the themes of creativity, connectedness and entrepreneurship.

President welcomed Chair of the Theatre School, Peggy Shannon and congratulated her on her work on the upcoming Colm Wilkinson Tribute Fundraiser.

3. SECRETARY’S REPORT

(a) Board Election Update

Julia Shin Doi reported on the results of the recent Board elections held from March 3 to 6, 2014. Tyler Webb, Joseph Vukovic and Noah Geist were elected to a one year term as student members of the Board. Lamya Amleh was elected to a two year term as a Faculty member and Carrie-Ann Bissonnette was re-elected to a second two year term as staff member on the Board. All new Board members will begin their terms on September 1, 2014.

Stephen Pumple, Abe Snobar and Rhiannon Trail are the Alumni candidates running the 2014 elections which will be held June 16 to 27 June.

The Secretary thanked members of the Board Secretariat for their excellent work in assisting with the Board Elections.

4. REPORT FROM THE PROVOST AND VICE PRESIDENT ACADEMIC

(a) Update on the Academic Plan Process

Mohamed Lachemi spoke to progress of the Academic Plan Process and breadth of consultation and engagement that had taken place.

The central vision of the plan is for Ryerson to become the Canada’s leading comprehensive innovation university. This vision resonates with both external and internal communities. To achieve the vision the University is being asked to focus on four priorities: student engagement and success; increasing SRC excellence, intensity and impact; fostering an innovation ecosystem and expanding community engagement and city-building.

Board of Governors Meeting April 28, 2014 - Page 159 Board of Governors Meeting March 31, 2014 Page 4.

5. REPORT FROM THE CHAIR OF THE FINANCE COMMITTEE

Michèle Maheux reported that the Finance Committee met on February 24 and March 18. At the February 24 meeting three new professional Masters Diplomas in: Aerospace Design Management; Enterprise Information Security, Privacy and Data Protection; and Dietetics were recommended for approval as well as a presentation on the third quarter financial statements.

At the March 18 meeting the Provost and the Vice Provost University Planning provided contextual information for the budget decisions that will be made in April. At the same meeting Fiera Capital presented an overview of Ryerson’s endowment fund investments.

Introduction: Budget Overview

The President provided an overview to the 2014-15 budget presentation and discussed the critical path for the budget rollout. This meeting will review the environmental scan and fees context only

2014-15 Budget: Part One Environmental Scan

Mohamed Lachemi reported on the 1% cuts to the 2013/14 operating grants and the actual and projected enrolment numbers for the new few years.

2014-15 Budget: Part Two – Fees Context

Paul Stenton spoke to the University’s authority to charge fees; the new government fee administration polices; the effect of fees on the operating revenues and fee comparison with other Universities and the fact that the University does not have de-regulated programs.

Paul Stenton concluded his presentation by reporting that financial support for students in need has increased in recent years and that the net tuition fee paid by students is considerably lower than the sticker fee. The earnings premium of a university education makes it one of best investments a student can make.

Ryerson Students’ Union Presentation

Rochelle Lawrence, RSU Vice-President, Education presented a petition of 5,000 signatures to the Board to request that Board members lobby the government to reduce tuition fees by 30%.

Ms. Lawrence spoke of student debt; solving debt by effectively using the University’s carry forward funds differently; providing more transparency in the use of the Strategic Allocation Fund; and less reliance on tuition fees and budget cuts from academic departments.

Darius Sookram, Khatera Noor, Darren Shivraj and Curtis Yim responded to the presentation

Board of Governors Meeting April 28, 2014 - Page 160 Board of Governors Meeting March 31, 2014 Page 5.

and spoke of the financial implications that not having a fee increase would have on the University; the support that the University does give its students in terms entrepreneurial and experiential learning and the rewards that an investment in a university education can give.

Fiera Capital Report - December 31, 2013

Janice Winton gave a brief overview on the Fieira Capital Report as of December 31, 2013 and reported the University’s endowment funds increased by 14.5%.

6. CONSENT AGENDA

6.1 Approval of the January 27, 2014 Minutes

The minutes were approved as presented.

6.2 Third Quarter Financial Statements

BE IT AND IT IS HEREBY RESOLVED:

That the Third Quarter Financial Statements be approved as presented.

6.3 Review of Revenue and Expenditures for new Professional Masters Diplomas

(a) Aerospace Design Management

BE IT AND IT IS HEREBY RESOLVED:

THAT, on the basis of the review carried out, the program approvals of Senate, and on the basis of the planned revenues and expenditures presented, the new Professional Masters Diplomas (PMDip) in Aerospace Design Management is deemed financially viable, approved and to be offered September 2014 at the discretion of the Provost and Vice President Academic.

(b) Enterprise Information Security, Privacy and Data Protection

BE IT AND IT IS HEREBY RESOLVED:

THAT, on the basis of the review carried out, the program approvals of Senate, and on the basis of the planned revenues and expenditures presented, the new Professional Masters Diploma (PMDip) Enterprise Information Security, Privacy and Data Protection is deemed financially viable, approved and to be offered September 2014 at the discretion of the Provost and Vice President Academic.

Board of Governors Meeting April 28, 2014 - Page 161 Board of Governors Meeting March 31, 2014 Page 6.

BE IT AND IT IS HEREBY RESOLVED:

THAT, on the basis of the review carried out, the program approvals of Senate, and on the basis of the planned revenues and expenditures presented, the new Professional Masters Diploma (PMDip) in Dietetics is deemed financially viable, approved and to be offered September 2014 at the discretion of the Provost and Vice President Academic.

7.4 Trading Resolution

BE IT AND IT IS HEREBY RESOLVED:

THAT the Board of Governors of Ryerson University may, from time to time:

(a) establish and maintain one or more trading accounts with investment dealers to deal with and in any securities;

(b) purchase, invest in or otherwise acquire, sell, trade, possess, transfer, exchange, pledge or otherwise dispose of, or realize upon, and generally deal in and with any and all forms of securities including, but not limited to, shares, stocks, bonds, debentures, notes, scrip, participation certificates, rights to subscribe, option warrants, certificates of deposit, mortgages, choses in action, evidences of indebtedness, commercial paper, certificates of indebtedness and certificates of interest of any and every kind and nature whatsoever, secured or unsecured, whether represented by trust, participating and/or other certificates or otherwise; and

THAT the Board of Governors give all authority necessary for the purpose of any dealings with and in any securities, to such extent and in such manner as the Board of Governors may determine, as the case may be, with respect to any such securities or with respect to any transaction, including authority to give written or oral instruction to the investment dealer with respect to said transactions, deemed by any two of the following officers of the University to be proper in connection therewith, provided that such officers may not be the same person:

Chair Vice Chair President and Vice Chancellor Provost and Vice President Academic Vice President Administration and Finance

Board of Governors Meeting April 28, 2014 - Page 162 Board of Governors Meeting March 31, 2014 Page 7.

Secretary of the Board Chief Financial Officer and Assistant Vice President Financial Services

or by such officers of the University or persons as the Board may by resolution from time to time so authorize.

8. TERMINATION

Board of Governors Meeting April 28, 2014 - Page 163 RYERSON ACHIEVEMENT REPORT A sampling of appearances in the media by members of the Ryerson community for the April 2014 meeting of the Ryerson Board of Governors.

President Sheldon Levy and Julia Hanigsberg, vice-president, administration and finance, spoke to Share about the Viola Desmond Awards http://bit.ly/1lBWbe2. Indo Caribbean World featured the Award winners, quoting President Levy, professor Nicole Neverson and criminal justice student Anisa Hassan. Caribbean Hot FM reported on the award ceremony and profiled recipient Keitha Prospere http://bit.ly/1g8nUxC. The item was pitched by Public Affairs.

The Toronto Star reported on a new Sports Media program at Ryerson to be launched with the financial support of Sportsnet, an item pitched by Public Affairs. The article quoted President Levy and Charles Falzon, chair of the RTA School of Media http://on.thestar.com/1igGI24.

The Toronto Star reported on an announcement by Premier Kathleen Wynne regarding a joint venture in job training with Ryerson, quoting President Levy http://on.thestar.com/1igIEaU. Funding of $1.5 million was announced.

The Toronto Star reported on a donation of $1 million to Ryerson by the Easton Group, quoting President Levy http://on.thestar.com/1gwetZB.

The Financial Post reported that Materialize and Kahoots were each awarded $25,000 in the Slaight Communications Business Plan Competition, an item pitched by Public Affairs http://bit.ly/1hBd6sw. A similar item appeared in the National Post.

Dave Mason, Computer Science, spoke to the Globe and Mail about the Heartbleed threat, as an expert pitched by Public Affairs http://bit.ly/1kOQOat. He also spoke to CityNews at Six and Global News.

Yonge Street Media reported on the Ryerson Student Learning Centre as a lively addition to Yonge St., http://bit.ly/OM0Ka9.

Athletic director Ivan Joseph spoke to the Gateway about the future of the CIS http://bit.ly/OOrUNx.

Canoe.ca reported on a Ryerson social activism course named for the late Jack Layton http://bit.ly/1kAboQe. Myer Siemiatycki, Politics, spoke to CityNews about the course http://bit.ly/1qjZUh0. The course was also featured on 680 News, 24 Hours Vancouver, the Sun News Network, Niagara Advance, Brantford Expositor and Intelligencer.ca.

The National Post reported on the mayoral debate at Ryerson http://bit.ly/PoMIvK. Similar items appeared in NOW, the Globe and Mail http://bit.ly/1jCA4qM, Toronto Star http://on.thestar.com/1hzEh7D, 680 News, Canoe News, Global: The Morning News, CP24 Breakfast, CTV News, and CityNews. The Toronto Star reported on the forum hosted by Ralph Lean, distinguished counsel in residence http://on.thestar.com/1iCnGn7.

Inside Toronto reported on Ryerson’s athletes of the year http://bit.ly/PXl5ub.

Board of Governors Meeting April 28, 2014 - Page 164 Canadian Lawyer profiled Julia Shin Doi, general counsel and secretary of the board of governors http://bit.ly/1fk5oXa. She contributed an article on the Law Practice Program to CCCA Magazine http://bit.ly/OwePZK.

A National Post article on security at Toronto campuses mentioned Ryerson's identification swipe cards http://bit.ly/1kQe1cg.

Jason Nolan, ECS, spoke to Parents Canada about the lost art of cursive writing http://bit.ly/1gcaepY.

The International News reported on Ryerson research on depression and insomnia http://bit.ly/1hDkl34

FLARE reported on the top five looks from Mass Exodus http://bit.ly/1n7lrtd. The year-end show was also featured in TO Fashionistas and Canada Wears. The item was pitched by Public Affairs.

The Council of Ontario Universities website carried a Ryerson news release on Ryerson MBA students winning a national advertising competition http://bit.ly/1ixlNoK.

American Printer profiled Ryerson student Tabea Lemcke in an article on young leaders http://bit.ly/1etv7sH.

Chris MacDonald, TRSM, spoke to CBC Radio’s The Current about the ethics behind best-company lists, audio: http://bit.ly/OIOMy1. He also contributes a regular column to Canadian Business.

The Globe and Mail profiled the DMZ; quoting executive director Valerie Fox http://bit.ly/1szLyNx.

Janice Neil, Journalism, spoke to Bloomberg Businessweek about the lack of Canadian teams in the NHL playoffs hurting broadcasters http://buswk.co/1gHj2jA. Similar items appeared in the Toronto Star and Hamilton Spectator.

A Guardian article on Seamus O’Regan mentioned he is a media innovator-in-residence at the DMZ http://bit.ly/1itGeTw.

BetaKit reported that Sunnybrook Hospital and Ryerson received $100,000 for chemotherapy research http://bit.ly/1szKQzS.

Marie Bountrogianni, interim dean of the Chang School, spoke to Metro about flexible learning formats.

The Toronto Sun profiled Cathy Crowe, distinguished visiting practitioner http://bit.ly/1lHMqvn. She also spoke to Rabble.ca about two homeless deaths in Toronto.

The Toronto Star reported on a Ryerson collaboration with Sunnybrook Hospital and MaRS Innovation http://on.thestar.com/1klCXg6. The item also appeared in Metro News.

The Toronto Star reported that the newspaper was nominated for three Canadian Association of Journalists awards, mentioning Ryerson journalism students Tara Deschamps, Kelsey Rolfe and Natalie Chu in the nomination http://on.thestar.com/R0cPut.

The Canadian Jewish News reported on Ryerson graduate Margalit Slovin’s exhibit at the Ryerson Image Centre http://bit.ly/1eoaxtH.

Board of Governors Meeting April 28, 2014 - Page 165 Wendy Cukier, founder and director of the Diversity Institute at Ryerson, spoke to the Saskatoon Star Phoenix about women in leadership roles http://bit.ly/1jSP7dB.

Elizabeth Trott, Philosophy, spoke to CBC News about love and politics http://bit.ly/1eksc5K. A similar item appeared in MSN News http://on-msn.com/1h5O49z.

The Reykajavik Grapevine profiled Randy Boyagoda, English http://bit.ly/1ioSXIt.

CBC News reported on Ryerson Rams goalie Troy Passingham practicing with the Maple Leafs http://bit.ly/1inJd1b. Similar items appeared in MSN News and the Huffington Post.

ABS-CBN Canada profiled fashion alumnus Farley Chatto http://bit.ly/1mTxRrw

TechVibes reported on a Ryerson Super Course Showcase led by Hossein Rahnama and Richard Lachman http://bit.ly/1lFsZWw.

Northern Ontario Business reported on Ryerson’s Internationally Educated Engineers Qualification Bridging program http://bit.ly/1lqfNSW.

A University of Ottawa Fulcrum article on logos mentioned the Ryerson Rams logo and Mattamy Athletics Centre http://bit.ly/1pV74dd.

The Canadian Press reported that of the five books shortlisted for the annual Donner Prize, finalists included Ryerson post-doctoral fellow Gregory Taylor. Similar items appeared in Metro News, Ottawa Citizen http://bit.ly/1eegn0T, CTV News http://bit.ly/1jzSV3d, Vancouver Sun, MySask.com and Daily Courier.

David Amborski, director of Ryerson’s Centre for Urban Research and Land Development, was quoted in a Toronto Star article about using air rights to build a better city http://on.thestar.com/1frrV4A.

The Tyee quoted Tracey King, human resources consultant, in an article about professional networking http://bit.ly/OaEczv.

The Canadian Press reported that Ryerson’s Roy Rana was named as coach of the World Select Team. The item was picked up by Sportsnet.ca http://bit.ly/1lkHFaN, Prince George Citizen and MSN News.

The Government of Canada reported that finalists for a unique SSHRC communications challenge include student Alanna Mager http://bit.ly/1pJNRex.

CBC Radio One: Metro Morning spoke with Sedef Arat-Koc, Politics, about the Turkish elections. Audio: http://bit.ly/1muYdwN.

630 CHED (Edmonton) spoke with Ivor Shapiro, Journalism, regarding the 24/7 news cycle and the Malaysian Airlines crash coverage.

Board of Governors Meeting April 28, 2014 - Page 166 The New York Post mentioned a Ryerson study on insomnia and depression http://bit.ly/1hb3sfZ.

TMCnet.com reported on the appointment of Ann Cavoukian as the executive in residence for Privacy and Big Data http://bit.ly/1geYpv0. The item, pitched by Public Affairs, also appeared in University News.

Cheri Bradish, TRSM, spoke to the Toronto Star about rinkboard ads http://on.thestar.com/1hlqR2E.

Yorkregion.com reported on Ryerson Rams hockey player Jamie Wise http://bit.ly/1lxN0hC.

CTV News reported on Ryerson students taking part in an urban disaster simulation exercise http://bit.ly/1mfQ5Ak.

Seth Dworkin, Mechanical and Industrial Engineering, spoke to CTV News about Earth Hour, as an expert pitched by Public Affairs.

Roy Ng, TRSM, spoke to Fairchild TV about Bitcoin and cyber security.

A Toronto Star article on honouring Nelson Mandela mentioned his Ryerson honorary degree http://on.thestar.com/1jXuBqn. The item was also picked up by Metro News.

Sean Wise and Neil Wolff, TRSM, were quoted in a Star Business Club article about outsourcing manufacturing http://bit.ly/1l9Th0m.

Joyce Smith, Journalism, spoke to CBC News about the movie Noah and religious epics at the box office http://bit.ly/1m7WOvT.

Paul Walsh, Aerospace Engineering, spoke to the National Post about the flight MH370 mystery http://bit.ly/1mwtUbZ.

The Christian Science Monitor reported on Ryerson research on cyber-crime.

Avner Levin, TRSM, spoke to Global News about the risks of losing your smartphone.

Orillia Packet profiled interior design graduate Nancy Lem http://bit.ly/1izNiB9.

Reader’s Digest quoted Colleen Carney http://bit.ly/1eEvXWJ in an article about 11 habits that disrupt sleep. The item was also picked up by PeaceFM http://bit.ly/1fe84ST.

The Financial Post reported on DMZ startup Physicalytics http://bit.ly/1l0j3US.

Kenora Daily Miner and News profiled Ryerson’s Female Rookie of the Year Julia Withers http://bit.ly/1pu77L0.

The Toronto Star profiled design management graduate Lorena Agolli http://on.thestar.com/1fVI0vf.

Board of Governors Meeting April 28, 2014 - Page 167 CBC Radio’s Metro Morning reported on the Black Experience Project, in partnership with Ryerson’s Diversity Institute, audio: http://bit.ly/1dmbU0V.

NOW quoted Paul Knox and Ivor Shapiro, Journalism, in an article about the Globe and Mail http://bit.ly/1hfa2CI.

CTV: Canada AM interviewed Abi Smithson of the DMZ; mentioning her mentor, School of Fashion Chair Robert Ott, video: http://canadaam.ctvnews.ca/video?playlistId=1.1737697. The item was pitched by Public Affairs.

Timothy Sly, Occupational and Public Health, contributed an op-ed on the topic of vaccination to Global News http://bit.ly/1er9KLK.

Manavi Handa, Midwifery, spoke to the Tyee about uninsured moms-to-be http://bit.ly/1di16RV.

The Ottawa Sun reported on a Ryerson Rams’ women’s hockey team initiative to raise awareness about mental health http://bit.ly/1phoMFJ.

A University Affairs article on the rise of the student entrepreneur mentioned the DMZ and the new Transmedia Zone http://bit.ly/1iCfljZ.

Neil Thomlinson, Politics, was quoted in a National Post article about Doug Ford’s predictions for the mayoral election http://bit.ly/PORIuy.

Steve Tissenbaum , TRSM, spoke to the Canadian Press about Canadian designers’ online offerings. The item was picked up by the Vancouver Sun http://bit.ly/1nBpDFG and the Calgary Herald http://bit.ly/1qQxaiV.

The Owen Sound Times profiled journalism student Samuel Greenfield http://bit.ly/1lO4L9x.

Sun News Network spoke with Goetz Bramesfeld, Aerospace Engineering, about the missing Malaysian Airlines plane.

Myer Siemiatycki, Politics, spoke to CBC News about the mayoral debate and Rob Ford’s alleged drug use http://bit.ly/1rEJW4D. Dr. Siemiatycki was quoted in a Canadian Press article about Olivia Chow entering the race, as a faculty expert pitched by Public Affairs. The item was carried by the Vancouver Sun http://ow.ly/uzFF3, Huffington Post Canada, Metro News, MSN News, Waterloo Region Record, Hamilton Spectator, Macleans.ca, Durhan Region and the Chronicle Herald. He also spoke to CBC Radio, CTV News, CityTV and Global News Toronto.

Strategy quoted Richard Lachman, director, the Transmedia Zone about experimenting with storytelling http://bit.ly/1kQLEhK.

A Huffington Post interview with Governor General David Johnston touched on the BIL-Ryerson DMZ India Ltd. http://huff.to/1gsKi5v.

University Affairs quoted Mohamed Lachemi, provost and vice-president, academic, in article about making sense of “big data” http://bit.ly/1cUbG0Z.

Board of Governors Meeting April 28, 2014 - Page 168 Derek Stacey, Economics, spoke to Metro News about the Toronto taxi industry http://bit.ly/1gmYpx3.

Distinguished visiting professor Diane Francis contributed a piece to Politico magazine on the topic of Canada merging with the United States http://politi.co/1nbFre9.

Newspaper Canada reported on the Atkinson Lecture at Ryerson http://bit.ly/PwzkXa.

Jennifer Lapum, Nursing, spoke to CBC Radio’s Here and Now about the 7024th Patient exhibit at Sunnybrook Health Sciences. The item was pitched by Public Affairs.

Ryerson coach Roy Rana spoke to the Kansas City Star about KU player Andrew Wiggins http://bit.ly/1i5xF4a. The piece was also picked up by Tri-City Herald, Charlotte Observer and the Wichita Eagle.

CBC Radio’s Metro Morning spoke with Omar Alghabra, distinguished visiting fellow, about the “Stand above the rest” conference. Audio: http://bit.ly/1njqvyw.

Prepared by Communications, Government and Community Engagement

Board of Governors Meeting April 28, 2014 - Page 169