Board of Governors approves draft budget for 2024-2025
The college will end the current fiscal year with a surplus, according to Grant Perry, chief financial officer of Finance and Administrative Services, but a final 2024-2025 budget may only be approved in June as it depends on more information from the Ontario Ministry of Colleges and Universities.
The college will take into consideration the impact from a federal government decision to decrease international student permits.
The Board of Governors gathered in room T102 at the Ottawa campus on Feb. 26 for their first meeting of the year. The board approved budgets, received reports from several committees and spoke about recruitment for future board members.
Perry presented updated financial projections for fiscal year 2023-24.
“The college is poised to have a stabler year,” said Perry. “And we are pleased that a surplus will be achieved. These funds are critical to the future of the college as we invest in new infrastructure, equipment, facilities, and services. We will continue to remain focused on financial sustainability of operational activities and our cash reserves.”
Normally the board would approve a definitive budget at this time of year. However, the restrictions to international student enrolment caused the board to approve a draft budget. A final budget will be considered when more information is released by the Ministry of Colleges and Universities.
“The college has a challenging time ahead as we continue to understand the full impact of these recent developments,” said Perry. “As information becomes available, we will be updating and refining our scenarios, and we look forward to presenting you with a budget with more certainty at the Board of Governors meeting on June 3.”
The Board of Governors establishes the governance practices for the college, decides on institutional goals and directions, as well as supervise the performance of the college’s president and CEO Claude Brulé, who was present at the meeting.
A motion to suspend the hairstyling and esthetician programs was mentioned, however, no decision has been made while the Academic and Student Affairs committee awaits further details from program staff and stakeholders. The matter will be discussed at its next meeting on May 14, according to Gabrielle Berard, vice-chair of the committee.
College management also provided updates on two major projects.
The R3 project, which plans to retire the current student information system and replace it with a new system, as well as an updated learner portal, requested that the board approve an up to $20 million expenditure budget for the fiscal year 2024-25. The board passed the motion with one abstention from Robert Harvey, the academic staff representative.
Highlights of the Master Campus Development Plan 2025-2035 framework and an update on the progress of the development plan were presented by Ryan Southwood, executive director of Facilities Management.
The updates included the development of mixed-use learning and residence buildings in the Ottawa campus as well as the possibility of residential building development in Pembroke. The board passed the motion to approve the framework and updates.
A recruitment ad for new board members was published in the Ottawa Citizen on Feb. 3. The application process closes on March 8, and interviews will be conducted from April 10 to 15, according to chair of the board, James McCracken.
Another ad, aiming to hire board members of Indigenous representation was published on Feb. 10 in the Ottawa Citizen. People interested in the position should submit their application directly to the director of Indigenous initiatives, Andre O’Bonsawin.
The next Board of Governors meeting will be held April 29, in Room T102 from 4 p.m. to 6 p.m. The meeting will be open to the public.
