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April 7, 2009

Camosun College’s Board of Governors approved a balanced budget for fiscal 2009-2010 at its regular meeting last night. The operating budget is balanced with total revenue and expenditure of $98.3 million. The capital budget includes a $1.8M allocation from operating funds and $2.4 million provided by the Ministry as annual capital allowance.

“Our overall budget goal was to develop a financially sustainable plan for the next three years, aim to meet our Ministry student FTE targets, meet our community needs, align our resources with the available funding and provide the capacity to progress our strategic plan goals,” said Camosun’s VP Administration and CFO Peter Lockie. “The approved budget achieves this.”

The Ministry has provided a second year of one-time funding for 164 seats in Health and Human Services and Trades and the College plans to continue its expansion of Sport and Exercise Education. The College will also be responding to the Ministry’s invitation for funding applications for additional seats in Health and Human Services, Foundations (trades) and Apprenticeship training.

Tuition fees will rise by 2% for domestic students, bringing the average annual tuition for a university transfer arts student to $2,858.

The approved budget affected 18 continuing positions across the College. Twelve of the affected positions are currently vacant or filled on a term basis; the remaining six affected employees will engage in the labour adjustment processes in their collective agreements which involve looking at a range of possible options.

Regarding the recent Federal and Provincial announcements of funding for infrastructure projects, the College is poised to move forward as soon as it receives any news. It has provided both governments with a list of its high priority capital projects that meet their criteria and will announce any awards as soon as they are made.


Peter Lockie
VP Administration and Chief Financial Officer


Last updated: April 7, 2009 1:42 pm

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