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CNC posts $1.8M budget surplus

For the first time in many years, the College of New Caledonia is projecting an unexpected $1.8 million surplus at year end. Last year, there was a $2.
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For the first time in many years, the College of New Caledonia is projecting an unexpected $1.8 million surplus at year end.

Last year, there was a $2.8 million deficit and the college was forced to make changes to address the deficit and to ensure long-term financial stability, said Vincent Prince, CNC board chair, during a board meeting Friday.

"These measures plus an unanticipated increase in enrollment has resulted in a projected surplus of $1.8 million for the 2015/016 budget year.

"In light of these events the board has decided to delay adoption of the 2015/2016 budget. A special meeting of the board will be held next month to look at the 2016/2017 budget and whether it needs to be revised in light of this new information."

Steve Nycholat, CNC board member, spoke on behalf of the finance and audit committee and said during the special meeting the board will discuss the cause of the variances in the budget in great detail and how they need to improve forecasting of the budget.

Carole Whitmer, a faculty member since 1987 and one of the founders of the dental hygiene program, expressed some concerns about the budget surplus in light of all the cuts of programs like the dental assisting, dental hygiene and aboriginal early childhood education programs and the resulting layoffs of staff made at the college.

"I have a concern as a public member, as a faculty member, as a parent who has a student here, about the management of the college budget," said Whitmer.

Sheldon Clare, CNC board member, said he is leaving the board and won't be part of the budget discussions.

"I really do encourage a sharp pencil and a vigilant look at this and a willingness to revisit the decisions that have been made with a view to correcting matters or rebuilding relationships and maybe restoring some things that have been lost,"said Clare.

The next scheduled board meeting is June 3.