The CNC Board of Governors approved a balanced budget for 2012/13 during its regularly scheduled meeting today.

 

The operating fund budget projects $48 million in revenues and expenses, with a surplus of $24,690.

 

The College’s balanced operating budget includes: reallocation of unused budget amounts in a number of areas; inclusion of additional and deferred revenues; non-replacement of some vacant full-time administrative, faculty and staff positions; a 2% tuition increase; and reductions to expenditures for equipment.

 

“There will be no suspensions or cancellations of existing services or programs,” CNC President John Bowman said. “The impact on students and the community will be very minimal.”

 

The college will be consolidating low enrolment class sections, reducing low enrolment courses and will find savings through improved scheduling. Several early retirement and voluntary severance packages and adjusted workload assignments have been granted.

 

“Unfortunately, it has been necessary to issue four layoff notices to faculty members, two of which have options for a reduced workload. All four could also be rescinded before they come into effect on July 31,” Bowman said.

 

The college had been projecting a $2.3-million budget shortfall for next year, if nothing was done to address rising expenses and declining revenues and funding.