corporate plan summarycorporate plan summary for the 2019-20—2023-24 planning period and 2019-20...

CORPORATE PLAN SUMMARYfor the 2019-20—2023-24 planning period and 2019-20 Operating and Capital Budgets

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Table of Contents

1.0 Executive Summary .......................................................................................................................... 3

2.0 Corporate Overview .......................................................................................................................... 4

3.0 Operating Environment .................................................................................................................. 7

4.0 Strategic Objectives, Results and Targets ............................................................................... 10

5.0 Five-Year Financial Overview ....................................................................................................... 18

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1.0 Executive Summary

The Canadian Museum of Nature (the Museum) pursues its national mandate as described in the Museums Act, within the context of the governance and accountability regime established in that Act and Part X of the Financial Administration Act. The Museum’s Board of Trustees and management are committed to managing the public and private funds invested in the institution in a transparent, accountable manner and to optimizing the value of the contribution the Museum makes to Canadians and to Canada. The Museum’s mandate to increase, nationally and internationally, interest in, appreciation of, understanding and respect for our natural world fits within a national natural history museum ’s mandate to create a better future for Canada by inspiring understanding and respect for nature. The Museum’s mandate also feeds into a global natural history and nature conservation vision to save the world for future generations with evidence, knowledge and inspiration. The Canadian Museum of Nature is a leading research facility with demonstrated national and international leadership in Arctic knowledge and exploration, and in species discovery and change. The need for applying this research, as accessed through the national and global networks of knowledge that it supports, will become increasingly important. Canada’s heightened role in the global dialogue about the environment and climate change will raise expectations for the national museum of natural history and natural sciences to continue to contribute to the body of knowledge about nature’s past, present and future based on the evidence of nature collected over time. A theme for 2019-20 is leveraging the Museum’s position as a national leader and global influencer in Arctic knowledge and species discovery for impact on visitor understanding of the natural world. This theme will enable the Museum to profile the value and impact of its collections, scientific research and public engagement programs. In 2019-20, the Museum will continue to make strategic investments in scientific equipment, scientific talent, specimen acquisitions, natural sciences content and refreshed visitor experiences. In 2019-20, the gap in funds to operate the two facilities under the stewardship of the Museum is the most critical issue facing the Museum. This is the result of a decision in 1994 to transfer the custody of Museum land and buildings to the Museum from Public Works and Government Services Canada. The 2019-20 to 2023-24 Corporate Plan, approved by the Board of Trustees on February 14, 2019, sets out five strategic objectives:

• Transform people’s understanding of Canada’s leadership in Arctic knowledge and its importance to our global natural future and be a global museum leader that engages in and influences global dialogue about the Arctic and its importance to our collective future.

• Transform understanding of the relevance and influence of species knowledge to peoples’ lives now and, in the future, and be a national museum leader that contributes to the understanding of Canada’s biodiversity and geodiversity.

• Transform understanding and engagement with nature by leveraging expert narratives, extraordinary collections, personal experiences and powerful dialogue and be a leader and collaborator in innovative and sustainable nature inspiration and engagement.

• Play a vital role on the national and global stage to advance understanding and respect for nature and be a known, respected, active and called upon player locally, nationally and globally.

• Evolve the museum enterprise model to embrace new technology, data analysis and employee engagement and be a global leader in sustainable museum enterprise model application and development.

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2.0 Corporate Overview

The Canadian Museum of Nature, an agent Crown corporation pursues its national mandate as described in the Museums Act, within the context of the governance and accountability regime established in Part X of the Financial Administration Act. The Museum’s Board of Trustees and management are firmly committed to managing the public and private funds invested in the institution in a transparent, accountable manner, and to optimizing the value of the contribution the Museum makes to Canadians and Canadian society. National museums reflect who we are as a country by what we value, save, share and protect: Art, History, Science & Innovation, Human Rights, Immigration and Nature. Canada’s national museums have a local, national and international role. Local, as visitor destinations that inspire through evidence-based story telling. National and Global, as creators and distributors of Canada’s stories, through outreach programs and events in cities across Canada and around the world; through collection loans to museums, galleries, libraries and community centres and through collaborative research on natural and cultural heritage. Also, with digital content in virtual exhibits, digital apps, on-line collections, downloadable resource materials and all social media platforms, through access to physical and digital content as source information for content producers in TV, radio, film, news, education, research and public policy. And finally, with international programming through exhibits, programs, collaborative research, conference presentations and content co-creation. National museums play a vital role as trusted sources of contextualized knowledge, as keepers of the record of our past and as catalyzers of conversations about our future aspirations. The Canadian Museum of Nature is one of Canada’s national museums, each committed to reflecting who we have been, who we are now and who we aspire to be as a country and as Canadians. As part of the Canadian Heritage Portfolio, we reflect the past, contextualize the present, anticipate, and inspire a better future. The Canadian Museum of Nature became a Crown corporation on July 1, 1990 through the Museums Act. The Museum is named in Part 1 of Schedule III to the Financial Administration Act and is subject to the control and accountability requirements set out for Crown corporations in that Act. It reports to Parliament through the Minister of Canadian Heritage and Multiculturalism. The Museum is responsible for two facilities: the Victoria Memorial Museum Building (VMMB) in Ottawa, ON and the Natural Heritage Campus (NHC) in Gatineau, QC. The Museum’s galleries and most of the exhibitions and programmes are offered at the VMMB. The NHC is situated on 76 hectares of land and was designed to provide the standards of safety, security and preservation necessary to safeguard Canada’s natural history collection. The Museum’s Departmental Results Framework consists of the Museum’s Core Responsibilities that reflects the three central aspects of the Museum’s mandate: Inspiration and Engagement, Collections Care and Access, and Research and Discovery. Building and grounds includes the ongoing operations and maintenance of the Museum’s two facilities. Internal services includes the development and implementation of policies, accountability structure, processes and support to all Museum activities that contribute to the fulfillment of the Museum’s mandate, including governance, strategic planning and corporate services. The report on previous year’s results can be found in the Corporation’s Annual Report posted on nature.ca. Global Vision: To save the world for future generations with evidence, knowledge and inspiration. National Vision: To inspire understanding and respect for nature for a better natural future.

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Mission: To create and deliver inspiring and memorable connections with nature through engaging and impactful programs of research, collections management, exhibitions and engagement in a 21st century global context. At the highest level, the mission of the Canadian Museum of Nature is nothing less than to support making the vision of a sustainable future a reality. As current trends of greenhouse gas emissions, mass species extinctions, and their causal factors run counter to this vision, the Museum’s mission is one of inspiring change. We are an instrument, one of many working in concert within the scientific community, for providing the foundation required to foster the change required to “save the world”. It is a foundation built on evidence, knowledge and inspiration, which are the mainstays of our work. Position: A national museum of international first rank known for excellence in Arctic knowledge and species discovery and for evidence-based insights, inspiring visitor experiences and real engagement with nature’s past, present and future. Dynamic change is required to seize opportunities in the Museum’s nature inspiration, Arctic knowledge and species discovery activities. Environmental trends will increase the value of the Museum’s mandate over the planning period, but the Museum needs to adapt significantly to deliver. The ability to invest in change will be conditioned by the Museum’s financial framework which demands new sources of revenue and efficiencies in order to sustain its operations. The commemoration of the 150th anniversary of Confederation allowed the Museum to seize many opportunities to extend the reach and impact of our public engagement and our research and discovery programs. The opening of the Canada Goose Arctic Gallery in summer 2017 demonstrated the Museum’s expertise in Arctic knowledge and exploration and it provides an inspiring space for learning about our natural world. Fulfilling the Mission Knowing more about nature gives us the tools to make better decisions about resources. It provides the basis for new technologies and developments, and promotes a better understanding of how we affect, and are affected by, the natural world. Our Experience and Engagement division is leading our effort to deliver dynamic personal experiences, powerful dialogue and debate, expert narratives and extraordinary chronicles about our collections. A connection with the Museum promises to inspire connections with nature and explorations of our natural future. The Canadian Museum of Nature is home to one of the world’s largest and finest natural history collections. Comprised of 26 major science collections of more than 14.6 million specimens, the Museum’s holdings cover four billion years of Earth history and are shared with the world through loans, digitization and travelling exhibits. Through the activities of our Research and Collections division, the Museum continues to conserve and maintain its natural history collections, for which it has developed considerable expertise in the areas of collection conservation and collection management. In the research area, activities are focused on major areas of interest and relevance to society. Our key efforts are directed towards the discovery of new knowledge, and the gathering and analysis of scientific information to increase our understanding of natural diversity. Our Mandate "The purpose of the Canadian Museum of Nature is to increase throughout Canada and internationally, interest in, knowledge of and appreciation and respect for the natural world by establishing, maintaining and developing for research and posterity a collection of natural history objects, with special but not exclusive reference to Canada, and by demonstrating the natural world, the knowledge derived from it and the understanding it represents."

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– from the Museums Act, Section 11 (1990, c. 3) The Board of Trustees is the Museum’s governing body, responsible to Parliament through the Minister of Canadian Heritage and Multiculturalism. The 11 members of the Board of Trustees are Governor-in-Council appointees from all regions of the country. Currently, there is one vacancy on the Board, and two Trustees’ terms have expired but they remain on the Board. All ten of our Trustees are engaged and attend all Committee and Board meetings; therefore, quorum has not been an issue

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3.0 Operating Environment

Dynamic change is required to seize opportunities in the Museum’s nature inspiration, Arctic knowledge and species discovery activities. Environmental trends will increase the value of the Museum’s mandate over the planning period, but the Museum needs to continue to adapt significantly to deliver. The ability to invest in change will be conditioned by the Museum’s financial framework which demands for the continuous development of new sources of revenue and efficiencies in order to sustain its operations.

Environmental Scan At the highest level, the mission of the Canadian Museum of Nature is nothing less than to support making the vision of a sustainable future a reality. As current trends of greenhouse gas emissions, mass species extinctions, and their causal factors run counter to this vision, the Museum’s mission is one of inspiring change. We are an instrument, one of many working in concert within the scientific community, for providing the foundation required to foster the change required to “save the world”. It is a foundation built on evidence, knowledge and inspiration, which are the mainstays of our work. At a micro level, we are already “saving the world”, as we build and maintain the National Natural History Collection, a scientifically active collection of over 14.6 million specimens which creates a geo-temporal record of nature – e.g. what is, and what is living in, the world. From this evidence of the world and life on it, we can develop knowledge of interdependencies, a record of change, and a basis to understand impacts and where change is leading. Our mission extends, through public engagement, to inspire people to know, engage with, and care for, nature. We hope that in turn this will lead them to engage with finding the right path for our natural future. Over 400,000 people come through our Museum doors, and millions more engage with us through visits to our travelling exhibits in locations across Canada and abroad and by visiting us online at nature.ca. Today the world’s direction is threatened by fake news, polarized opinions that go unchallenged by fact, and by national reactions that are often impotent in addressing global problems. In the face of this, the Canadian Museum of Nature is playing its part to help “save the world” through evidence, knowledge and inspiration. As a scientifically active national museum with international reach, this is reinforced by and references Canada’s global position as an advocate for global cooperation, global solutions and evidence-based decision-making. Research and Discovery As a barometer of change in climate and biodiversity, the relevance of the National Natural History Collection is conditioned by its currency and accessibility. Currency is reliant on acquiring significant specimens from relevant areas, particularly areas of scientific note and/or areas that are experiencing change. This in turn is reliant on opportunities for researchers to get out into the field to explore and discover to find new specimens, and also on our ability to work with other scientific institutions to acquire or exchange specimens, or specimen data, for research purposes. Access and exchange with other institutions is vastly facilitated by digitization of specimen data. Acquiring and developing knowledge from scientific specimens is then reliant on the quality of our scientific team and our science laboratories and equipment. The Museum shows leadership in all these areas by working and cooperating closely with and within aligned scientific institutions and organizations on a local, regional, national and international level. Federal partners such as Department of Fisheries and Oceans Canada or Parks Canada may assist by providing researchers with transit and access to field sites. Local universities cooperate in sharing equipment, while local, national and international universities cooperate on research. Digitization of over

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14.6 million specimens collected over the course of over 100 years demands a longer-term effort, resulting in a need to prioritize digitization in accordance with areas of specialization and in concert with similar efforts by other regional and international institutions. This is managed through the Museum’s participation in alliances, such as the Alliance of Natural History Museums of Canada (ANHMC), and in international bodies, such as the Arctic Natural History Museums Alliance, the Global Biodiversity Information Facility (GBIF) and the International Union for Conservation of Nature (IUCN). In addition to cooperating on developing and sharing knowledge, these national and international alliances and bodies are also fora for the Museum to take leadership in areas of cooperation such as citizen science and conservation. While increases in the operating budget provided by the Government will be helpful to partially offset rising costs, longer term research leadership will be made possible through successful ongoing Advancement efforts and contributions. For achieving this, the Museum is encouraged by an increasingly positive economic climate. Nature Inspiration and Engagement The Museum competes for visitor attendance within the Entertainment and Leisure sector as a cultural attraction. The reputation of its exploration and research, and the valuable specimens on display from the national natural history collections, form the basis of differentiation and advantage over competitive entertainment and leisure alternatives. The Museum can rightly claim that it is the one place to see the “real” scientific specimen. Nonetheless, competition in the sector continues to grow, as the market is becoming increasingly crowded from out-of-home alternatives such as water parks and festivals, and from stay-at-home options from ever more sophisticated home entertainment systems. Maintaining relevance in a digitally connected world where facts are only as far away as a smartphone, demands that the Museum experience embraces new media in telling relevant “stories”, as facts alone are not enough. The Museum experience must be engaging, connecting visitors to how the presented knowledge is relevant to them, and providing interactivity for self-customization. The Museum enjoys strong market penetration in its core family segment within the National Capital Region (NCR), with some geographic growth opportunities in suburban and cross-river communities and within adult and diversity demographic segments. In the face of aging demographics, stability and growth in these segments will rely on increasing frequency of visits through resonant programming and special exhibitions, as has been done with summer blockbusters and the millennials-focused Nature Nocturne social evenings and the “Escape the Museum” escape room experience. More significant growth opportunities reside in the tourist segment, both in capturing larger share of tourists on-the-ground in the NCR through marketing activity and in supporting or leading a variety of efforts to attract new visitors to the city as a destination. The Museum is an active partner with Ottawa Tourism and Tourisme Outaouais, the respective destination marketing organizations for the National Capital Region (NCR). It should be noted that museums as a tourist attraction rank the highest in unaided awareness in tourism origin markets such as Toronto and Montreal, ranking even above Parliament. When people think of Ottawa, they think of museums. It logically follows that the seven national museums in the NCR cooperate in marketing at the “destination” (outside of local market) level. This is done through cooperative marketing of the Museums Passport and through cooperative marketing of the national museums’ value proposition as Ottawa Tourism and Tourisme Outaouais partners within their destination marketing campaigns. These marketing efforts in turn ladder-up into larger national and international marketing efforts with Destination Ontario, Tourisme Quebec, and Destination Canada. Ottawa Tourism’s new branding for the destination, “Canada in One City” is a perfect complement to the national museums value proposition and to that of each individual museum, such as the Canadian Museum of Nature. The national museums tell Canada’s story. The Museum is very encouraged by record numbers of over 22 million international tourists arriving in Canada in 2017 and again in 2018, and by Destination Canada’s stated objective of increasing international tourism to 25 million visitors spending $2.5 billion by 2022. We are also encouraged by the

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new Ontario Minister of Tourism’s stated objective of increasing tourism in the province from 4% of GDP to 8% of GDP within a decade. Tourism will be our source of future attendance growth and we, as a key part of the city brand and a national museum, are a major tourist attraction for the National Capital Region. As expected, the Museum lost some local and tourist market share in 2018 to the new Canada Science and Technology Museum (Ingenium), having just returned after a 3-year hiatus and given its appeal to our core family market segment. The financial impact of this has now been built into the five year plan.

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4.0 Strategic Objectives, Results and Targets The 2018-19 plan delivered on the measures that indicate the Museum is advancing its rolling strategic plan focused on Arctic, species discovery, nature inspiration, campus excellence and presence, and a sustainable museum enterprise. Attendance, membership, fundraising, collaboration, research activity, digitization and majority of performance measures achieved or exceeded target. The Board and management believe the strategic plan framework remains relevant and the right guide for future operations of the Museum. Building on the success of the first five years of a post renewal strategic plan, the Museum is advancing another five years within the same strategic plan framework focused on its core strengths and in the areas of activity with the greatest impact on the public’s interest in and understanding of our natural world. These areas continue to reflect the current and ongoing strategic framework that is focused on Arctic, species discovery, nature inspiration, presence and excellence, and sustainable museum enterprise. Following discussions with partners, senior management and members of the Board, the Board of Trustees approved the following strategic directions to guide the Corporation’s future activities and programs: Strategic Objective #1: Transform people’s understanding of Canada’s leadership in Arctic knowledge and its importance to our global natural future. Outcome #1: Be a global museum leader that engages in and influences global dialogue about the arctic and its importance to our collective future.

Strategic Objective #2: Transform understanding of the relevance and influence of species knowledge to peoples’ lives now, and in the future. Outcome #2: Be a national museum leader that contributes to the understanding of Canada’s biodiversity and geodiversity. Strategic Objective #3: Transform understanding and engagement with nature by leveraging expert narratives, extraordinary collections, personal experiences and powerful dialogue. Outcome #3: Be a leader and collaborator in innovative and sustainable nature inspiration and engagement. Strategic Objective #4: Play a vital role on the national and global stage to advance understanding and respect for nature. Outcome #4: Be a known, respected, active and called upon player locally, nationally and globally.

Strategic Objective #5: Evolve the museum enterprise model to embrace new technology, data analysis

and employee engagement.

Outcome #5: Be a global leader in sustainable museum enterprise model application and development.

The Strategic Directions align with the Museum’s three core responsibilities:

1. Visitor experience and public engagement

2. Scientific knowledge and collection care

3. Building and grounds

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Strategic Objective #1:

Transform people’s understanding of Canada’s leadership in Arctic knowledge and its importance to our global natural future. Outcome: Be a global museum leader that engages in and influences global dialogue about the Arctic and its importance to our collective future. Signature projects during the planning period:

• Host a global Arctic science symposium

• Lead an Arctic collaborative knowledge creation and sharing international project

• Grow global digital data sharing through existing platforms and portals

• Recruit leading philanthropists as visible champions committed to the Arctic cause

• Engage new partners with established profile and alignment with the Museum to enhance public engagement

Expected Results: We expect to see a stable level of participants in Arctic programming, of funds raised, of experts sought out, of media stories about our Arctic research and of Arctic collection digitization.

Performance Measures:

Outcome Measure

2019-24 Target Range

2018-19 Performance

Forecast

2019-20 Performance

Target Be a global museum leader in Arctic Knowledge and Exploration

▪ Number of participants in Arctic themed experiences: gallery, travelling exhibit, program, digital

▪ Funds raised supporting Arctic research, collections and engagement programming

▪ Number of contacts with the Museum of Nature and its experts and collections for Arctic related content, expertise and collaboration

▪ Arctic research publications by research associates and collaborators

▪ Arctic collections

digitization

▪ Awareness of the Museum’s Arctic content and expertise as measured by media mentions, stories, etc.

400,000 to 500,000 $400,000 to $500,000 50 to 80 10 to 20 50 to 75% 150 to 250

▪ 400,000

▪ $400,000

▪ 80 ▪ 20 ▪ 50%

▪ 200

▪ 500,000

▪ $400,000

▪ 75 ▪ 20

▪ 60% ▪ 200

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Strategic Objective #2: Transform understanding of the relevance and influence of species knowledge to peoples’ lives now and in the future. Outcome: Be a national museum leader that contributes to the understanding of Canada’s biodiversity and geodiversity. Signature projects during the planning period:

• Grow scientific training program attracting talent from across Canada and around the world

• Create a cryogenic collection with Museum frozen tissue samples and welcome samples from outside the Museum

• Establish a science-sharing program with a national broadcast partner with national reach and reputation

• Invest in use of and promotion of the One Global Collection

• Invest in the International Union for Conservation of Nature (IUCN) programs and congress

• Develop a long-term plan for the expansion of the Natural Heritage Campus collections facility to accommodate future collections growth

Expected Results: We expect to see growth in the use of and reference to the national collection in research and popular publications as well as steady engagement in species description, new experts training, collections digitization and digital content downloads and retrievals.


Outcome Measure


2018-19 Performance

Forecast

2019-20 Performance

Target

Be a national museum leader that contributes to the understanding of Canada’s biodiversity and geodiversity

▪ Number of publications

▪ Number of new species described by the Museum

▪ Number of new experts being guided by us

▪ Collection lots digitized number and percent

▪ Amount of data shared

digitally through nature.ca

▪ Growth of collection

50 to 60 20 to 40 20 to 35 910,000 to 1M 27% to 30% 20 to 30 M 6,000 to 50,000

▪ 50

▪ 20

▪ 30 ▪ 890,000 / 27%

▪ 20 million ▪ 25,000

▪ 50

▪ 20

▪ 25 ▪ 935,000 / 28%

▪ 20 million ▪ 25,000

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Strategic Objective #3: Transform understanding and engagement with nature by leveraging expert narratives, extraordinary collections, personal experiences and powerful dialogue. Outcome: Be a leader and collaborator in innovative and sustainable nature inspiration and engagement. Signature projects during the planning period:

• Refresh content with new lenses on nature in collaboration with strategic partners including Indigenous partners

• Develop and deploy a digital engagement framework for public programs and advancement

• Invest in a refreshed approach to the national and international travelling exhibit program

• Grow the Museum’s profile in the Nature Conservancy of Canada Nature Talks program

Expected Results: We expect to see a levelling off of on-site and off-site attendance to reflect the re-entry of the Canada Science and Technology Museum in the marketplace locally and nationally. This levelling off will also be reflected in memberships. Investments in new programming will increase visitor engagement and could lead to higher levels of donor funds and Board engagement through giving.


Outcome Measure 2019-24 Target Range

2018-19 Performance

Forecast

2019-20 Performance

Target Be a leader and collaborator in innovative and sustainable nature inspiration and engagement

▪ Number of visitors attending the VMMB and travelling exhibit experiences

▪ Memberships

▪ Visitor engagement

▪ Number of organizations collaborating with the Museum for content and experience creations

▪ Funds raised in support of nature inspiration, content and experiences

▪ Board engagement in advancement programs percent and funds raised

1 to 2 million 5,000 to 6000 40 to 60% 75 to 100 $500,000 to $1 million 80 to 100% $50,000 to $100,000

▪ 1.2 million

▪ 5,000 ▪ 40% highly

engaged ▪ 100

collaborations

▪ $510,000 ▪ 80% / $100,000

▪ 1.5 million

▪ 5,000

▪ 40% highly engaged

▪ 100 collaborators

▪ $500,000 ▪ 100% / $100,000

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Strategic Objective #4: Play a vital role on the national and global stage to advance understanding and respect for nature. Outcome: Be a known, respected, active and called upon player locally, nationally and globally. Signature projects during the planning period:

• Invest in the Museum’s role with the Ocean Literacy Coalition and in natural resource literacy

• Invest in national and international external relations program with government, non-governmental organizations and industry

• Invest in science writing and communications for media, government and stakeholder audiences

• Invest in global conferences and forums with Museum experts as speakers and the Museum as sponsor

• Refresh the Nature Inspiration Awards national recognition program to reflect current trends in nature conservation

Expected Results: The Museum’s presence and impact on the national and global stage is directly related to the number of scientific experts available to share knowledge. We expect the level of activity to remain stable to reflect no increase in research staff.


Outcome Measure


2018-19 Performance

Forecast

2019-20 Performance

Target Be a known, respected, active and called upon player locally, nationally and globally

▪ Number of roles in national and international collections management, research and visitor experience bodies

▪ Number of active external relations partners with national reach

▪ Reach of Museum expertise at conference and workshop presentations

▪ Digital stories/views

▪ Open House attendance

▪ Number of media mentions and stories

30 to 50 5 to 8 30 to 40 5 to 7 / 100k to 200k 2,500 to 3,500 1,500 to 2,000

▪ 30

▪ 5 ▪ 30 ▪ 5 / 100,000

▪ 3,500

▪ 1,500

▪ 30 ▪ 5 ▪ 35 ▪ 5 / 100,000

▪ 2,500

▪ 1,500

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Strategic Objective #5:

Evolve the museum enterprise model to embrace new technology, data analysis and employee engagement. Outcome: Be a global leader in sustainable museum enterprise model application and development. Signature projects during the planning period:

• Establish a new tech skunkworks to iteratively pilot Customer Relationship Management and Artificial Intelligence in the museum context

• Develop data analytics approach for Sustainable Museum Enterprise (SME) across all enterprise and corporate services units

• Evolve the enterprise model toward a 30% earned revenue framework

• Evolve the talent management framework to accommodate a need for a nimble, adaptable workforce comfortable with change

• Launch the Museum Foundation with a major gifts program focused on investments of $250,000 and up

Expected Results: The re-entry of the Canada Science and Technology Museum has impacted market share and will be reflected in future financial and attendance forecasts. It will likely take a couple of years before all national museums in the National Capital Region fully understand the impact of Canada Science and Technology Museum’s tremendous success.


Outcome Measure 2019-24 Target Range

2018-19 Performance

Forecast

2019-20 Performance

Target Be a global leader in sustainable museum enterprise model application and development

▪ Earned revenue as % of total budget

▪ Penetration of tourist market

▪ Advancement revenue as % of earned revenue

▪ Number of experience connections per FTE

▪ Percent of staff engaged in professional development and training

▪ Align the performance management and succession plans to support the enterprise model with the skills and human resource practices needed.

▪ 25 to 30% 11 to 14% 14 to 19% 20,000 to 30,000 20 to 30% Combined and integrated approach to human resource development and management

▪ 25%

▪ 11%

▪ 14%

▪ 20,000 ▪ 20%

▪ Combined and

integrated approach to human resource development and management

▪ 27%

▪ 12% ▪ 17%

▪ 20,000 ▪ 20%

▪ Fully integrated PMP, health and wellness and succession plan

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The Museum continuously reviews its program, its means of delivery and its supporting activities to ensure they remain relevant to Canadians. Based on an environmental scan of the natural sciences issues of interest and concern across Canada and around the world, the Museum has updated its multi-year special exhibit program taking it to 2021-22. Brain, Animal Survival, Pterosaurs, The Human Biome, Ice Ages, Bugs and Live Animals are confirmed or planned exhibits. The details of the business case for each will be outlined as part of the annual business planning exercise.

YEAR SUMMER FALL

2018-19 Brain: The Inside Story Exhibition from AMNH

Survival of the Slowest Butterflies

2019-20 Pterosaurs The Secret World Inside You (AMNH) Butterflies (TBC)

2020-21 Ice Age Exhibition from CMN (will tour after)

Butterflies (TBC) Bug Lab

2021-22 Bug Lab Butterflies (TBC) Live Animals Exhibit (TBC)

Furthermore, the Museum continues to identify and act on opportunities for collaboration with the other national museums that improve effectiveness and efficiency. The national museums now have a systematic approach for identifying and advancing co-procurement projects, cooperative exhibit scheduling and cooperative marketing projects. The Museum has been building its fundraising capacity since 2012 by hiring new professionals, engaging the Board of Trustees’ network, cultivating a pipeline of prospective supporters and packaging attractive projects to support. As a federal Crown corporation, the Museum faces challenges positioning itself as needing philanthropic support relative to the many other worthy charitable causes in the local, provincial and national marketplace. We are inspired by the success of the National Arts Centre (NAC) (built up over 15 years) and of the National Gallery of Canada (built up over more than 15 years). Inspired by the NAC and NGC model, the Board supported and encouraged the establishment of the Canadian Museum of Nature Foundation, a separate and distinct legal entity, non-share capital corporation dedicated to raising funds in support of the Museum’s priorities. The CMN Foundation was confirmed as a registered charity in November 2017 and became fully active in fiscal year 2018-19. A separate Board of Directors elected by the members of the CMN Foundation oversees the management of the activities and affairs of the CMN Foundation. The CMN Foundation is primarily supported by the Museum’s Advancement team, and the Museum’s Corporate Secretary and Finance Division as needed. The amount of the support is valued at $37,000 in 2018-19. The CMN Foundation is slowly inspiring gifts while remaining in a "quiet phase". In the 2018-19 fiscal, just under $93,000 was transferred to the Museum for the first time. Gifts were from the corporate community, with the balance from several individuals.

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Although the Foundation was seeking support, solicitation activity was minimal as focus has been on the vital work of director recruitment and has yet to be publicly launched. Intentions are to announce/launch the Foundation publicly during the 2019-20 fiscal year. Early 2019-20 has already yielded one large gift of $500,000 from a foundation in support of the Museum's research initiatives. More success is anticipated. Below, the Museum outlines its key strategic risks, risk level and risk mitigation actions. The key risks are

related to the structural deficit in the operating budget, Budget 2016 project management, succession due

to an aging workforce and advancement dependence on a pipeline of donor prospects identified and

cultivated by an engaged and influential Board of Trustees committed to govern, give and galvanize

support for the Museum.

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5.0 Five-Year Financial Overview

5.1 Overview The Museum will continue looking for ways to find new and larger sources of self-generated revenue for

its programs and services, and to develop new approaches to working with collaborators. Revenue

generation measures in 2019-20 and beyond will include:

• continuing with the roll out of the next phase of the Museum’s fundraising and development strategy, with the goal of raising $25 million over five years;

• implementing a plan to increase earned revenues by capitalizing on the VMMB’s commercial operations, especially in the areas of attendance and membership fees, rental of facilities, ticketed programs, boutique and parking;

• expanding the Museum’s virtual presence and attract new audiences through the use of digital strategies including digital storytelling, digital apps, digital collections, digital natureART exhibits and downloadable teacher resources;

• enhancing existing marketing and awareness campaigns, including the Museum’s social media marketing campaign;

• building and strengthening the Museum’s exhibitions and public education programming with a view to continuously diversifying its audience base;

• evolving the business model for the travelling exhibitions program at the Museum; and

• monetizing the physical assets of the Museum at the VMMB and NHC sites.

In 2019-20, the Museum is proposing a total operating budget of $35.67 million. 75 percent of the

operating budget will come from parliamentary appropriation (74 percent in 2018-19), while the remaining

25 percent will come from self-generated revenues (26 percent in 2018-19). Appropriation for 2019-20

amounts to $26.81 million, the same as 2018-19.

Budget 2016 provided funding to help Canada's national museums address immediate operational and

capital pressures including the gap between established appropriations provided for PILT purposes and

the actual amount of PILT being paid and deferred recapitalization projects, primarily those related to

immediate health and safety issues. Projects funded through budget 2016 and identified in the Financial

Statements Budget are expected to be completed on time and on budget to meet the required scope.

The Museum is proposing a capital budget of $6.17 million, compared to $10.00 million approved in 2018-

19; $2.17 million is funded through Budget 2016 covering only health and safety projects and $4 million

through accumulated unrestricted net assets to address additional capital requirements and specimen

acquisitions.

The outlook of $35.67 million for operating resources in 2018-19 represents a decrease of $0.30 million from the amount approved as a result of a reduction of $0.30 million in net revenues from admission and program fees. The Museum lost some local and tourist market share in 2018-19 to the new Canada Science and Technology Museum (Ingenium) having just returned after a 3-year hiatus and given its appeal to our core family market. Achieving financial sustainability has been, and will continue to be, one of the main priorities of the Museum. The Museum has in place a number of strategies designed to manage both known and

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anticipated pressures. An enterprise risk management approach is being used to manage these strategies and pressures in support of the vision to be a national institution providing maximum value and service to the public. In spite of the progress towards achieving financial sustainability, addressing the financial pressures related to operating the two facilities under its stewardship remains the most critical issue facing the Museum as it is still vulnerable to the impact of inflation on key inputs such as utilities and property taxes.

5.2 Planning Assumptions and Projections

5.2.1 Parliamentary Appropriations

The budgets have been formulated on the basis of the operating environment and the Departmental Results Framework. Table 4 summarizes the operating and capital budgets.

The Museum is estimating expenditures of $41.84 million in 2019-20, $35.67 million for the 2019-20 Operating Budget and $6.17 for the 2019-20 Capital Budget. Of the amount of $41.84 million, $8.86 million will be sourced from revenues, $4.00 million from accumulated unrestricted net assets and $28.98 million will be sourced from parliamentary appropriations. Appropriations for 2019-20 of $28.98 million is $2.12 million lower than 2018-19 outlook and mainly attributable to a lower installment of a 4-year investment by the federal government through Budget 2016 ($2.17 million this fiscal year compared to $4.29 million in previous year) to address the backlog of health and safety and other recapitalization. The Museum is estimating capital expenditures of $6.17 million in 2019-20 funded as follow:

- $2.17 million through Budget 2016 covering only health and safety projects, - $4.00 million funded through accumulated unrestricted net assets to address additional capital

requirements and specimen acquisitions.

5.2.2 Earned Revenues Table 5 outlines the revenue forecast for the planning period.

2017-18 2018-19 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24

(in thousands of dollars) Actual Approved Outlook Proposed Proposed Proposed Proposed Proposed

Capital Budget 6,422 10,030 7,030 6,170 1,000 500 500 500

Operating Budget 36,890 36,000 35,679 35,671 36,274 36,386 36,816 37,222

Variation in Deferred Appropriation - Capital (5,622) (1,250) (1,250)

Variation in Accumulated Unrestricted Net Asset (350) (3,000) (4,000) (1,000) (500) (500) (500)

Variation in Deferred contribution - Capital (450) (1,500) (1,500)

Revenues (9,693) (9,199) (8,851) (8,860) (9,463) (9,575) (10,005) (10,411)

Parliamentary appropriation 27,197 31,081 31,108 28,981 26,811 26,811 26,811 26,811

TABLE 4: Summary of Operating and Capital Budgets

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The revenue forecast for admission and program fees and other revenues in 2019-20 and beyond are aggressive, and will be monitored closely by the Museum, given the challenging business environment. In 2019-20, the Museum is projecting total revenues of $8.86 million, same as 2018-19. Admission and program fees revenues are expected to decrease in 2018-2019 as result of the re-entry of the Canada Science and Technology Museum which has affected market share. The estimated impact is reflected in future financial forecasts. It will likely take a couple of years before fully understanding and reflecting the financial impact of Canada Science and Technology Museum’s re-entrance. Ancillary operations includes rentals of facilities, boutique sales and cafeteria leases, and parking. Revenues from ancillary operations are expected to decrease in 2018-19 and beyond due to lower rental activities as result of the loss of rental space to the newly opened Canada Goose Arctic Gallery. This decrease is offset by the change in the Nature Boutique business model from a net lease in 2017-18 to a hybrid model with gross revenues and expenses being recorded separately. In 2018-19, the Museum is projecting contributions revenues of $1.71 million, $0.67 million lower than 2017-18. In 2017-18, the Museum recognized $0.90 million of in-kind sponsorships and specimen donations revenues compared to $0.50 million in gift-in-kind planned for 2018-2019. In addition, in 2017-18 the Museum recognized $0.27 million from restricted cash accounts, explaining the year over year variance. In 2019-20, the Museum is projecting contributions revenues of $1.50 million, $0.21 million lower than 2018-19 due to lower Major Gift revenues. Other revenues include traveling exhibitions, NHC leasing and scientific services revenues.

Contributions

In 2018-19, the Museum is anticipating that it will recognize a total of $1.71 million in contributions mainly attributable to the annual giving and Major Gifts and $0.50 million in gift-in-kind. Building a high performance advancement operation focused on developing a pipeline of annual, sponsorship and major gifts prospects and donors is an important element of the sustainable museum enterprise operating model and to the success of the Museum in the future. An engaged and influential Board of Trustees is key to this success.

2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024

(in thousands of dollars) Acutal outlook Forecast Forecast Forecast Forecast Forecast

Admission and program fees 4,254 4,009 4,176 4,554 4,541 4,597 4,613

Ancillary operations 2,154 2,146 2,130 2,157 2,184 2,212 2,240

Contributions 2,382 1,527 1,400 1,434 1,471 1,509 1,558

Contributions from Foundation - 90 100 100 100 100 100

Interest income 262 115 118 122 128 129 133

Other 641 874 936 1,096 1,151 1,458 1,767

Total revenues 9,693 8,761 8,860 9,463 9,575 10,005 10,411

TABLE 5 : Revenue Forecast

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5.2.3 Operating Expenditures by Core Responsibility

Table 6 outlines the budget summary by core responsibility based upon approved reference levels and revenue projections for the planning period. The Museum’s Departmental Results Framework consists of the Museum’s Core Responsibilities that reflects the three central aspects of the Museum’s mandate: Inspiration and Engagement, Collections Care and Access, and Research and Discovery. Building and grounds includes the ongoing operations and maintenance of the Museum’s two facilities. Internal services includes the development and implementation of policies, accountability structure, processes and support to all Museum activities that contribute to the fulfillment of the Museum’s mandate, including governance, strategic planning and corporate services. Appropriation for 2019-20 amounts to $26.81 million, the same as 2018-19. The Museum will operate

with a total operating budget of $35.67 million 75 percent of the operating budget will come from

parliamentary appropriation (74 percent in 2018-19), while the remaining 25 percent will come from self-

generated revenues (26 percent in 2018-19).

The budget for visitor experience and public engagement in 2019-20 includes activities in support of education programs, the development of special temporary exhibitions and guest services. Building and strengthening the Museum’s special temporary exhibitions program will continue to be a priority. A strong special temporary exhibition program is important to increasing and sustaining strong attendance and revenues. The Museum will also strive to finance in part temporary exhibitions through sponsorships. Another objective is to increase national outreach by expanding the Museum’s virtual presence and attracting new audiences through the use of new broadcast technologies and digital strategies. The budget for scientific knowledge collections care and access in 2019-20 include activities in support of the conservation, management and maintenance of its natural history collections, for which it has developed considerable expertise. In the research area, activities are focused on major areas of interest and relevance to society. The budget includes activities directed towards the discovery of new knowledge, and the gathering and analysis of scientific information to increase the understanding of natural diversity. The Museum will continue to improve the effectiveness and efficiency of the Museum’s operations as it relates to conservation and services associated with its collections. This will be achieved by optimizing environmental controls and the organizational structure in the collections areas. The budget for buildings and grounds in 2019-20 include activities in support of the management, maintenance and preservation of the Museum’s two facilities, the VMMB in Ottawa and the NHC in Gatineau. Budget 2016 provided funding to help the Museum address immediate operational and capital pressures including the gap between established appropriations provided for PILT purposes and the actual amount of PILT being paid, and deferred recapitalization projects, primarily those related to

(in thousands of dollars - 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024

except for staff levels) Actual Otulook Forecast Forecast Forecast Forecast Forecast

Staff Levels 137 139 139 139 139 139 139

Visitor experience and public engagement 9,961 10,381 10,249 10,618 10,412 10,575 10,666

Scientific knowledge and collection care 6,935 7,126 6,971 7,037 7,103 7,170 7,239

Buildings and grounds 14,567 13,265 13,423 13,562 13,742 13,912 14,086

Internal support services 5,420 4,870 5,008 5,037 5,109 5,139 5,211

Transfer to Foundation 7 37 20 20 20 20 20

Sub-total 36,890 35,679 35,671 36,274 36,386 36,816 37,222

Less: Revenues (9,693) (8,851) (8,860) (9,463) (9,575) (10,005) (10,411)

Appropriation 27,197 26,828 26,811 26,811 26,811 26,811 26,811

TABLE 6: Budget Summary by Core Responsibility

Note: Table 6 is prepared on a cash basis whereas the financial statements are prepared on an accrual basis and therefore, Deferred Parliamentary Appropriations are not reflected in Table 4.

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immediate health and safety issue represents. As a result, in 2016-17 the Museum received 4-years funds for health and safety projects and a one-time increase in appropriation for PILT costs of the VMMB. This, however, does not offset the $1 million in property taxes paid on the NHC. In 2019-20 the Museum is estimating $2.40 million in PILT and property taxes expenditures. The costs of managing the Museum’s two buildings have increased since the completion of the renovated VMMB. Buildings and grounds represents 37 percent of total operating expenses. The Museum continues to explore additional facilities cost reduction and control measures in order to minimize the financial impact on its programs. The budget of Internal services in 2019-20 include activities in support of the development and implementation of policies, accountability structure, processes and support to all Museum activities through services to oversee the fulfillment of the Museum’s mandate, including governance, strategic direction and corporate services. Building and grounds includes the ongoing operations and maintenance of the Museum’s two facilities.

Financial Statements

The pro forma financial statements have been prepared in accordance with Section 4200 series of the

Canadian Public Sector Accounting Standards applicable to government-not-for-profit organizations

consistent with those reported in the institution's annual report. The Corporation applies the deferral

method of accounting for contributions for not-for-profit organizations.

Note:

The accumulated deficit in the forecast year and five-year year planning period in the Statement of Financial Position are entirely a

result of the accounting treatment related to a long-term capital lease. The Museum received borrowing authority to enter into a

2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024

(in thousands of dollars) Actual Pro forma Pro forma Pro forma Pro forma Pro forma Pro forma

Assets

Current

Cash and cash equivalents 15,076 12,452 11,640 11,755 10,649 10,429 10,440

Restricted cash 190 500 500 500 500 500 500

Restricted investments 1,500 200 200 200 200 200 200

Accounts receivable

Trade 914 300 300 300 300 300 300

Government departments and agencies 250 500 500 500 500 500 500

Inventories 44 50 50 50 50 50 50

Prepaid expenses 1,221 700 700 700 700 700 700

19,195 14,702 13,890 14,005 12,899 12,679 12,690

Collections 1 1 1 1 1 1 1

Employee advances 538 520 510 500 490 480 470

Restricted investments 1,500 1,300 1,100 900 700 500 300

Investments 1,000 1,000 1,000 1,000 1,000 1,000 1,000

Capital assets 183,446 179,547 175,072 168,062 163,446 158,001 149,372

205,680 197,070 191,573 184,468 178,536 173,161 164,333

Liabilities

Current

Accounts payable and accrued liabilities

Trade 5,478 1,500 1,500 1,000 1,000 1,000 1,000

Government departments and agencies 971 100 100 100 100 100 100

Current portion - obligation under capital lease 964 1,064 1,174 1,296 1,296 1,431 2,069

Deferred revenue, contributions and parliamentary appropriations 4,908 4,000 3,500 3,000 2,500 2,000 2,000

Employee future benefits 242 200 200 200 200 200 200

12,563 6,864 6,474 5,596 5,096 4,731 5,369

Obligation under capital lease 25,008 23,936 22,762 21,466 21,466 20,035 18,455

Deferred contributions related to capital assets 169,522 168,052 164,247 159,334 153,598 149,980 141,506

Employee future benefits 2,741 2,400 2,200 2,000 2,000 1,600 1,600

209,834 201,252 195,683 188,396 182,160 176,346 166,930

Accumulated Deficit

Unrestricted 7,894 7,894 7,894 7,894 7,894 7,894 7,894

Restricted for endowment purposes - - - -

Investment in capital assets (12,048) (12,076) (12,004) (11,822) (11,518) (11,079) (10,491)

(4,154) (4,182) (4,110) (3,928) (3,624) (3,185) (2,597)

205,680 197,070 191,573 184,468 178,536 173,161 164,333

STATEMENT 1: Statement of Financial Position

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long-term capital lease obligation to fund the National Heritage Campus located in Gatineau. The Statement of Operations therefore

reflects the interest on the capital lease obligation as well as depreciation charges because of the recognition of the building as an

asset. The accounting treatment of the costs associated with the Gatineau facility has a significant negative impact on the

Museum’s Statement of Operations. The situation will begin to reverse in 2019-2020 until it is fully eliminated by the end of the lease

term in 2031. This does not impact the Museum’s cash flow or financial stability in anyway.

Note:

The losses recognized in the forecast year and five-year year planning period in the Statement of Operations are entirely a result of

the accounting treatment related to a long-term capital lease. The Museum received borrowing authority to enter into a long-term

capital lease obligation to fund the National Heritage Campus located in Gatineau. The Statement of Operations therefore reflects

the interest on the capital lease obligation as well as depreciation charges because of the recognition of the building as an asset.

The accounting treatment of the costs associated with the Gatineau facility has a significant negative impact on the Museum’s

Statement of Operations. The situation will begin to reverse in 2019-2020 until it is fully eliminated by the end of the lease term in

2031. This does not impact the Museum’s cash flow or financial stability in anyway.

2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024


Revenue

Admission and program fees 4,254 4,009 4,176 4,554 4,541 4,597 4,613

Ancillary operations 2,154 2,146 2,130 2,157 2,184 2,212 2,240

Contributions 2,382 1,617 1,400 1,434 1,471 1,509 1,558

Contributions from Foundation - 90 100 100 100 100 100

Interest 262 115 118 122 128 129 133

Other 641 874 936 1,096 1,151 1,458 1,767

9,693 8,851 8,860 9,463 9,575 10,005 10,411

Expenses

Inspiration and engagement 10,569 10,381 10,249 10,618 10,412 10,575 10,666

Collections care and access 3,362 3,025 2,788 2,815 2,841 2,868 2,896

Research and discovery 3,949 4,101 4,183 4,222 4,262 4,302 4,343

Internal support services 5,320 4,870 5,008 5,037 5,109 5,139 5,211

Buildings and grounds 17,831 13,265 13,423 13,562 13,742 13,912 14,086

Transfer to Foundation 7 37 20 20 20 20 20

41,038 35,679 35,671 36,274 36,386 36,816 37,222

Net result of operations before government funding (31,345) (26,828) (26,811) (26,811) (26,811) (26,811) (26,811)

Parliamentary appropriation 33,547 26,800 26,883 26,993 27,115 27,250 27,399

Net result of operations 2,202 (28) 72 182 304 439 588

STATEMENT 2: Statement of Operations

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Invested in

(in thousands of dollars) Unrestricted capital assets

Net assets, beginning of year 5,507 (11,863) (6,356)

Deficiency of revenue over expenses 2,202 - 2,202

Net change in investment in capital assets 185 (185) -

Net assets, end of year 2017-2018 7,894 (12,048) (4,154) -


Deficiency of revenue over expenses (28) - (28)

Net change in investment in capital assets 28 (28) -



Deficiency of revenue over expenses 72 - 72

Net change in investment in capital assets (72) 72 -









Net assets, end of year 2021-2022 7,894 (11,518) (3,624)









STATEMENT 3: Statement of Changes in Net Assets

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Strategic Risks / Opportunities and Mitigation / Leveraging Strategies

The Museum has in place an enterprise risk management framework designed to effectively and

proactively manage the risks that could prevent the Museum from achieving its objectives. This Corporate

Plan Summary identifies five risks/opportunities and their related mitigation/leveraging strategies. The risk

mitigation step involves development of mitigation strategies designed to manage, eliminate, or reduce

risk to an acceptable level, ideally low. The opportunity leveraging step involves development of a plan to

maximize the benefits of the opportunity for the organization taking into account the costs. Once a

strategy is implemented, it is continually monitored to assess its efficacy with the intent of revising the

course-of-action if needed.

Summary of key risks/opportunities and mitigation/leveraging strategies are as follow:

1. Advancement – Risk that a limited donor pipeline may constrain financial resources available to support the investment required for initial implementation of the Museum’s strategic objectives. This is mitigated by a comprehensive advancement program that identifies, cultivates, solicits and stewards donors and prospects, led by a team of fundraising professionals and a new group of committed fundraising volunteers and board members.

2. Structural Deficit - Risk that the structural deficit will continue to increase due to expenses increasing at a greater rate than revenues, such as utilities, property, taxes and general inflation. This is mitigated by a continuous process of expenditure review, admission revenue monitoring and earned revenue growth.

3. Information Management & Technology – Opportunity that information technologies and information data systems are available and leveraged to support organizational objectives. This is supported by new leadership and skills in Information Technology (IT) and Information Management (IM) and an IT strategy that responds to and enables the strategic objectives of the Museum within the resources available.

2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024


Operating activities

Cash receipts - customers 7,544 6,952 8,242 8,841 8,946 9,376 10,277

Cash receipts - parliamentary appropriation for operating activities 27,460 26,828 26,811 26,811 26,811 26,811 26,811

Cash disbursements - suppliers and employees (27,808) (29,959) (30,783) (31,159) (32,992) (32,401) (33,057)

Interest received 272 115 118 122 129 129 129

Interest paid (2,627) (2,537) (2,436) (2,326) (2,204) (2,204) (2,069)

Cash provided by (used in) operating activities 4,841 1,399 1,952 2,289 690 1,711 2,091

Capital activities

Acquisition of capital assets (8,425) (7,030) (3,870) (1,000) (500) (500) (500)

Disposition of tangible capital assets 11 - - - - - -

Cash used in capital activities (8,414) (7,030) (3,870) (1,000) (500) (500) (500)

Investment activities

Acquisition of restricted investment (3,000) - - - - - -

Acquisition of investment (1,000) - - - - - -

Cash used in investing activities (4,000) - - - - - -

Financing activities

Obligation under capital lease (873) (963) (1,064) (1,174) (1,296) (1,431) (1,580)

Donations received for purchase of capital assets

Appropriation received for purchase of capital assets 6,072 4,280 2,170 - - - -

Cash used in financing activities 5,199 3,317 1,106 (1,174) (1,296) (1,431) (1,580)

Decrease in cash and cash equivalents (2,374) (2,314) (812) 115 (1,106) (220) 11

Cash and cash equivalents, beginning of year 14,190 14,766 12,452 11,640 11,755 10,649 10,429

Restricted cash, beginning of year 3,450 500 500 500 500 500 500

Cash and cash equivalents and restricted cash, end of year 15,266 12,952 12,140 12,255 11,149 10,929 10,940

STATEMENT 4: Statement of Cash Flows

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4. Succession - Risk that a significant number of employees are eligible for retirement resulting in the loss of corporate memory and key skills. To mitigate this risk the Museum developed and monitors a succession plan that includes skills development.

5. Budget 2016 - Risk that capital projects funded through budget 2016 and identified in this submission would not be completed on time and on budget to meet the required scope. Quarterly tracking internally will ensure the Museum fulfills its spending commitments.

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