Keyano College will engage with Alberta Advanced Education in the coming days as new outcomes-based post-secondary funding approach is introduced across the province to increase transparency and accountability and to help build a modern and diverse workforce for the future.
Under the new funding model, a portion of government funding to colleges, universities and polytechnics will be based on achieving key performance measures, and is expected to include measures like graduation and completion rates, graduate employment, and student satisfaction.
Keyano College looks forward to the development of key performance measures in line with Department objectives. For example, in the College's most recent published annual report, 93 percent of Keyano students reported being satisfied with their educational experience.
The amount of funding tied to performance outcomes will begin at 15 per cent of operational funding for 2020-21 and gradually increase to a maximum of 40 per cent by 2022-23. A small number of performance measures will be introduced for the 2020-21 academic year, and more measures will be gradually introduced over the next three years to a total of about 15.
Throughout this time of budget constraint, Keyano will continue to work to find ways to reduce administrative spending, to grow enrolment, reduce overall costs on a per-student basis, and grow revenue from a wide variety of sources while keeping a strong commitment to its core mission.
