Cambrian College sees $7.5-million shortfall, makes cuts

A projected $7.5-million shortfall in Cambrian College's operating budget is forcing the Sudbury school to enact a number of changes, including shutting its day care and restructuring the maintenance operations.

Other measures being implemented include an early retirement incentive program, an increase in parking rates and the hiring of a management company to operate the college residences. To increase Cambrian's revenues, the college has also established a President's Committee on Financial Health, as well as an ancillary business cooperative.

The shortfall comes in spite of enrolment growth that has averaged more than two per cent annually over the last four years. The school's finances have been affected by a 2008 change in the funding model for colleges, a loss of revenue from its corporate and contract training businesses, increased costs for salaries and inflation, and the implementation of a new student information system.