College unveils balanced books
Posted on 30. Jan, 2008 by Archivist in News
$202-million budget recently approved by board of governors
Alex Cooper
News Reporter
A balanced budget for 2008-09 has been approved by the college’s board of governors.
The college can avoid this, despite the fact that funding to Ontario’s colleges is increasing less than the rise in operating costs, said John Davies, college president.
The college is meeting costs by dipping into last year’s surplus, he said.
“We’re having to use some of the money that we put away in previous years to get through this year. We hope that next year will be better because there are not many years where you can use reserves that you have been building up before you get significantly behind.”
The college has a budget of $202 million for next year.
Nick Farnell, president of Humber Students’ Federation, said the balanced budget is a great show of financial responsibility and will benefit students.
“It’s a great show of corporate responsibility,” he said. “There’s definitely a lot of big and exciting projects coming up that will definitely benefit all students – current students as well as future students.”
Loading ...
