CNC has approved an $86.5 million dollar budget for the 2023-24 fiscal year, leaving them with a little over a million dollar deficit.
The College said in a release they plan to offset that deficit with surplus funds from previous years, as they anticipate “further recovery” from the pandemic over the course of the year.
They said the deficit reflects “a shortfall in the operating fund, a small shortfall in ancillary services attributable to campus housing; and amortization of capital assets.”
“We’re now entering year three of our strategic plan, and we remain focused on our commitments to students to learning across a lifetime and student success in the education and training we provide,” said CNC President and CEO Dr. Dennis Johnson.
“This budget complements several areas of student services. It also makes strategic investments to build a thriving and effective college with a strong focus on student success.”
Some things the college said they will be investing in include:
- Investments to support growth and additional seats in programs and services, along
with funding to implement quality assurance measures to foster excellence in
teaching programs; - Increasing funding for admissions and student services; and
- Strategies to improve student enrolment and retention, including the development
of a long-term enrolment plan as well as a student recruitment strategy.