Andrew Ardizzi
News Reporter
VP of finance Rani Dhaliwal. (Phil Heidenreich)
Humber has announced a $10 million budget surplus, which the college said is due to increased student enrolment this year.
During last week’s board of governors meeting, a projected increase in student enrolment was announced for next year –– a rise to over 21,000.
The economic downturn attributed to 10 per cent of the increase, the college said.
“There was a higher increase in students than in the past because there are no jobs to go to,” said vice president of finance and administrative services, Rani Dhaliwal. “More folks are going to college to improve their credentials.”
Humber president John Davies said it’s a very solid trend.
“It’s absolutely the right decision,” he said. “Wait the worst of this recession by improving credentials that’ll help students get into the market.”
The surplus will be placed into the college’s reserve fund and applied to building and renovation projects across each campus, and upgrading course equipment.
“Surpluses like these are really good news,” said Davies. “This period particularly we need to accrue funds for the big IT change we’re planning.”
Dhaliwal said half of the surplus will be directed towards the $25 million Enterprise Systems project, an IT initiative that will streamline Humber’s outdated online registration and financial portals, will make it easier for students to access their information.
“This is a big infrastructure project,” said Davies. “It’s like building a new road system. Once you have it built, it can last another decade.”
Davies said the project should be complete in the next few years with part of the surplus going towards it.
Client services manager for Humber’s information and technology department, Ryan Burton, said the upgrade is intended to enhance Humber’s online presence and expand the range of options available to when they access Humber’s network.
“Collectively it will look and feel like one system,” he said. “The college will be a better run environment capable of meeting the needs of students.”
[...] College Surplus exceeds $10 Million [...]