CNC balancing the budget

College of New Caledonia’s (CNC) Board of Governors learned Friday the college is well positioned to balance the budget

College of New Caledonia’s (CNC) Board of Governors learned Friday the college is well positioned to balance the budget for the 2012-13 fiscal year.

The college had been projecting a $2.3-million budget shortfall for next year, if nothing was done to address rising expenses and declining revenues and funding.

CNC President John Bowman said there is still work to be done, but things are on track to present a balanced budget for the board’s approval on April 27.

“We are still working through some final decisions and options with a number of employees regarding early retirements and voluntary severances,” Bowman said. “Therefore, it’s too soon to say the final numbers of employees actually receiving layoff notices, but the numbers are expected to be small. Most reductions will be accomplished through attrition, early retirement incentives and voluntary severance.”

Other cost-saving measures include: reallocating unused budget amounts in a number of areas; including additional and deferred revenues; some consolidation of low enrolment class sections and courses; improved class scheduling; a 2 per cent tuition increase and reductions to equipment expenditures.

Colleges are required by provincial legislation to plan for a balanced budget every year.

 

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