Resolution 2009-4 of the Real Estate Council of Alberta

At its meeting on May 6, 2009. Council passed a motion to approve the following Education Course Pricing Policy :

Principle 1
The  administrative, delivery and development costs related to the operation of RECA’s education division of the Industry Standards Unit will be funded through the Council Operating Fund

Principle 2
RECA will capitalize education course development costs.  The method of recovery of education course development costs will be by amortizing development costs over the length of time each respective course is required for the re-licensing education program (REP) or to a maximum of 3 years for licensing courses.

Principle 3
On a case by case basis, RECA may apply for funding to develop educational offerings from specific grant opportunities and any grants received will be used to offset the course development costs

Principle 4
Education program costs will be comprised of the direct administrative costs of operating the education division of the Industry Standards Unit, the direct costs of delivering the education courses to participants and the respective amortized course development costs. These costs will include but not be limited to: 1) salaries, benefits and related administrative costs of the education division of the Industry Standards Unit; 2) information system maintenance and technology support; 3) examination development and delivery; 4) printing course materials; 5) updating of courses on an ongoing basis; 6) instructor and faculty advisor training; and 7) consultants.

Principle 5
Approved supplier partners in the delivery of a classroom version of the course will be offered a wholesale price for the course. 

Principle 6
Prices will be based upon:  1) the cost of developing courses, including operation of the education division of Industry Standards; 2) reflecting the value of the courses when compared to the market; and 3) enabling education providers to deliver the program in a classroom format.

Principle 7
Surplus funds generated by the Education Program will be allocated to the operating fund.

DATED at Calgary, Alberta on this 6 day of May 2009.

 

 

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