Camosun College Board of Governors approves balanced budget for 2014/15

Media Release
Release Date: May 6, 2014

Camosun College's Board of Governors approved a $114 million dollar balanced budget for fiscal year 2014/15 at its regular monthly meeting last night, May 5.

The budget has been a challenging process for the College given the flat funding environment and an anticipated funding reduction announced in the 2013 Provincial Budget. Compounding the situation is the additional lack of clarity regarding the future funding of the English as a Second Language program.

Developing a framework for reduced budgets over the last few years has meant the need for two key strategies: revenue growth largely through International education; and, expenditure reductions.

To meet this year's balanced budget, a 2.5% reduction in operating funds will be affected across the college, impacting all Departments and Schools.

Finance Chair Russ Lazaruk commented the communication process that took key components of the first budget proposal out to the college community for initial consultation and discussion was important and led to productive modifications to the original budget proposals.

The budget submitted to the Board for approval by the Finance Committee last night contained no suspensions, cancellations or removal of programs. This includes the Music Professional Studies program at the Conservatory of Music, Early Learning and Care, and Computer Science Technology. There is a reduction of one cohort in the Applied Business Technology program. In University Transfer there will be a reduction of sections based mainly on lower enrolled courses.

"This is what consultation is all about," said Lazaruk. "The college community sees a proposal and offers insights. In this case those insights provided highly creative approaches in which faculty and staff members were prepared to modify programs in order to ensure that Camosun continues to meet its mandate in the best way possible, given our funding challenges."

"We wish to extend our thanks and appreciation to all members of the college community who participated in the budget process and who creatively worked to find solutions to the budget challenges," said Board Chair Marilyn Pattison. "We are confident that the budget protects the comprehensiveness of Camosun programs while recognizing the fiscal realities of these times, and we look forward to a sustainable future."

Contact

Michelle Tinis
Camosun Department of Communications, Advancement and Planning
250-370-4626
tinis@camosun.ca