2 Annual Report 2019-2020 3 Table of Contents Accountability Statement ................................................................................................................................................................. 6 Management’s Responsibility for Reporting .................................................................................................................................. 6 Message from the President and CEO and the Chair of the Board of Governors ..................... 7 Operational Overview .......................................................................................................... 9 Goals, Expected Outcomes and Performance Measures .................................................... 12 Accessibility ..................................................................................................................................................................................... 12 Affordability ...................................................................................................................................................................................... 18 Quality ............................................................................................................................................................................................... 20 Coordination .................................................................................................................................................................................... 25 Government Priorities ..................................................................................................................................................................... 28 Financial and Budget Information ....................................................................................... 29 Results Compared to Prior Year .................................................................................................................................................... 29 Results Compared to Budget ......................................................................................................................................................... 30 Cash Flows ....................................................................................................................................................................................... 31 Financial Position ............................................................................................................................................................................. 31 Impact of COVID-19 Pandemic ...................................................................................................................................................... 32 Self-Generated Revenue .................................................................................................... 33 Research, Applied Research, and Scholarly Activities ......................................................... 34 Applied Research in the Arts .......................................................................................................................................................... 34 Research for the Advancement of Culture, Arts, and Leadership ....................................................................................... 34 Regional Stewardship, Foundational Learning, Underrepresented Learners ........................ 35 Underrepresented Learners ........................................................................................................................................................... 36 4 Internationalization ............................................................................................................ 37 Capital Plan ....................................................................................................................... 38 Deferred Maintenance .................................................................................................................................................................... 38 Debt Financing for IT Requirements and Essential Equipment .................................................................................................. 38 Priority Projects ............................................................................................................................................................................... 39 Priority 1: Performing Arts and Learning Complex Phase 1 – Preservation and New Construction ............................... 39 Priority 2: Performing Arts and Learning Complex Phase 2 – Capital Renewal ................................................................ 40 Priority 3: Affordable Practicum and Staff Housing – Preservation and New Construction ............................................. 40 Information Technology ...................................................................................................... 41 Continuous improvement in security practices to protect digital assets and user privacy .................................................. 41 Revitalizing infrastructure and enterprise applications ............................................................................................................... 42 Major information technology systems ........................................................................................................................................ 42 Banff Centre for Arts and Creativity Supporters ...................................................................43 Consolidated Financial Statements .................................................................................... 53 Governance ....................................................................................................................... .75 5 Note to Reader Board of Governors of The Banff Centre (operating as Banff Centre for Arts and Creativity) (“Banff Centre" or “the Centre”) is a corporation that operates under the Post-Secondary Learning Act (Alberta). As mandated by the Ministry of Advanced Education, Banff Centre for Arts and Creativity is pleased to present this Annual Report on progress towards the goals and outcomes for 2019/2020. Accountability Statement Banff Centre’s Annual Report for the year ending March 31, 2020 was prepared under the direction of Banff Centre’s Board of Governors (“the Board”) in accordance with the Fiscal Planning and Transparency Act and ministerial guidelines established pursuant to the Post-Secondary Learning Act. All material economic, environmental or fiscal implications of which we are aware have been considered in the preparation of the Annual Report. Adam Waterous Chair, Board of Governors Management’s Responsibility for Reporting Banff Centre management is responsible for the preparation, accuracy, objectivity, and integrity of the information contained in the Annual Report including the financial statements, performance results, and supporting management information. Systems of internal control are designed and maintained by management to produce reliable information to meet reporting requirements. The system is designed to provide management with reasonable assurance that transactions are properly authorized, are executed in accordance with all relevant legislation, regulations and policies, reliable financial records are maintained, and assets are properly accounted for and safeguarded. The Annual Report has been developed under the oversight and approval of the Board and is prepared in accordance with the Fiscal Planning and Transparency Act and the Post-Secondary Learning Act. Janice Price Bruce Byford President and CEO Vice-President, Administration and CFO 6 Message from the President and CEO and the Chair of the Board of Governors From April 2019 – March 2020, Banff Centre for Arts and Creativity continued to serve the lifelong learning goals of Albertans and Canadians, contributing to the development of thousands of artists and leaders and the production of creative work that is “in and of our times”. Since then, however, the COVID-19 pandemic has had particular and unique impacts on all aspects of Banff Centre. The Government of Alberta declared a state of public emergency on March 17th, 2020 and issued various orders including restrictions on gatherings. In early April, Parks Canada suspended all visitor services in Banff National Park and access to the Town was restricted. In June 2020, the Centre had to take the unfortunate and difficult step of permanently laying off a significant number of its employees in response to a dramatically impacted business model. In these challenging times, Banff Centre appreciated Advanced Education’s agreement to accept an Interim Annual Report in September. Situated on Treaty 7 territory in beautiful Banff National Park, Banff Centre contributes to national creative and arts community development, by serving indigenous communities, engaging the general public and increasing human capital attraction to the Bow Valley. Banff Centre programming is recognized for its quality at provincial, national and international levels. Each year many of the student-initiated projects developed at Banff Centre go on to be professionally produced, performed, published or exhibited in venues across the globe. By providing a range of opportunities and responding to stakeholder feedback, Banff Centre helps build a productive workforce, empowering students to make meaningful contributions to their communities, organizations,