By Thomas Doucet

Budget Approved

CNC approves $73 million budget with projected deficit

May 13, 2022 | 3:20 PM

PRINCE GEORGE—The CNC Board of Governors has passed a new $73 million budget for the 2022/23 fiscal year.

The new budget comes with a projected deficit of just over $2 million but promises it will maintain student services. The shortfall is because of several reasons including flat or declining enrollment and increased ancillary costs like the book store and food services.

The budget deficit will be paid for by reserve funds from previous years’ surpluses.

“In preparing the 2022/23 budget we carefully reviewed current spending and proposals to improve the college,” said Dr. Dennis Johnson, CNC President and CEO. “We want to ensure students have an exceptional experience as we provide the programs they need to succeed, take steps to boost enrolment and modernize the college for today’s needs and tomorrow’s opportunities.”

CNC says they have adjusted its spending through budget development, review of vacant positions as well as adjusting contingency funds.

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“This budget strikes a fair balance by carefully reviewing our expenses and reallocating funds to areas of greatest need, while maintaining funding for initiatives that will continue to make CNC a first choice for students,” said CNC Vice President Finance and Corporate Services Tara Szerencsi.