CNC projects $1M budget surplus

Thanks to an unexpected spike in student enrolment, the College of New Caledonia is projecting a budget surplus of $1 million at their fiscal year end of March 31.

"The increase in student enrollment this year was completely unforeseen," said Henry Reiser, CNC president in a statement Friday sent out after the college board's first 2016 meeting.

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As the $1 million surplus is a projection, the final number will only be known once the audit is complete in May.

The board has requested an analysis of the increased enrollment and will provide details when it is prepared.

Last year, CNC had 3,571 full-time students, an increase by more than 200 students from the year before, which saw 3,342 full-time equivalent students.

Because of the anticipated surplus, CNC was also able to rescind some of the layoff notices issued in March 2015.

The majority of layoffs were avoided through workload reassignments.

No layoff decisions have been made for 2016.

The board also voted in favour of raising tuition and mandatory fees by two per cent for courses and programs starting August 1, to raise an additional $130,000.

The board is raising tuition because the college can't rely on another budget surplus next year, it stated in the release.

Final approval of the 2016/17 operating budget is expected to occur at the April board meeting.

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