College of New Caledonia reports $1.8 million surplus

The board of directors of the College of New Caledonia has reported a surplus of $1.8 million in the 2015/16 year-end.

The board of directors of the College of New Caledonia (CNC) has reported a surplus of $1.8 million in the 2015/16 year-end.

According to a CNC press release, the surplus was “unanticipated.”

Last year, the college was forced to make significant cuts to address a $2.8 million deficit and to ensure the long-term financial stability of the college. The college issued 38 layoff notices across all campuses in March 2015 and cut several programs.

The CNC board says that these measures, plus an unanticipated increase in student enrolment, have resulted in the projected surplus of $1.8 million.

In light of these events, the CNC board has decided to delay adoption of the 2016/17 budget and the assumptions it was built on.

The college did not respond if programs that were cut last year will be reconsidered, nor if staff laid off in 2015 will be rehired.

According to Annette Stevens, CNC Communications Manager, the CNC board has called a special meeting for later this month to further discuss the proposed 2016/17 budget and the unanticipated $1.8 million surplus.

“CNC anticipates that it will have additional information to share following this meeting,” said Stevens.