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College of New Caledonia has a new board chair and $2 million deficit

CNC will use surplus from previous years to offset a projected $2 million deficit
CNC Shobha Sharma
CNC board of governors elects Shobha K. Sharma as Chair during its May 13 AGM.

College of New Caledonia (CNC)’s board of governors elected Shobha K. Sharma as its new chair, during its annual general meeting on May 13.

It also approved its budget to maintain student services in the 2022/23 fiscal year where it will offset a projected $2,259,803 deficit with surplus funds from previous years.

CNC says the budget reflects the projected ongoing impacts of the COVID-19 pandemic including flat or decreased enrolments in various program areas along with increasing cost pressures.

“In preparing the 2022/23 budget we carefully reviewed current spending and proposals to improve the college,” said Dr. Dennis Johnson, CNC President and CEO.

CNC’s 2022/23 Operating Fund budget totals $71,753,928 in revenue and $73,185,734 in expenses. 

CNC says it has adjusted spending through its budget development by reviewing vacant positions and underutilized budgets as well as adjusting contingency funds.

“This budget strikes a fair balance by carefully reviewing our expenses and reallocating funds to areas of greatest need, while maintaining funding for initiatives that will continue to make CNC a first choice for students,” said CNC Vice President Finance and Corporate Services Tara Szerencsi.

New board chair, Sharma was first appointed to the CNC Board in July 2018 and has since served the board as chair of its human resources committee.

She currently serves as the executive director of the Central Interior Native Health Society, as well as founder and chief executive officer of Our Satya, a foundation committed to local and global social responsibility. 

As a community development specialist, Shobha honors diverse worldviews and experiences and is committed to advancing Truth and Reconciliation; Equity, Diversity and Inclusion; and the sustainable development goals of CNC.

“I’m excited to work collaboratively with an inspired group of governors on CNC’s Board as well as the dynamic leadership of CNC as we achieve our vision of learning together, changing lives, and creating futures,” Sharma said.

“On behalf of the CNC community, I want to thank outgoing chair Gil Malfair for his exceptional service to CNC, the board, and our community at large, over the past four years.” 

Malfair was first appointed to the CNC Board in December 2016 with his final term ending in July 2022.

During his time, he stepped into many leadership roles including chair of the Governance Committee since 2017.

His term as Board chair commenced in April 2018 where he presided over the President Search Committee in 2018/2019. 

“I’ve enjoyed the years I’ve spent as part of the CNC community serving as a member and chair of the Board of Governors,” Malfair said.

“We accomplished much and that has everything to do with the dedicated board members I’ve had the honour to serve alongside with. I am pleased that Shobha is taking on this important role and I know she will do an excellent job.”