Vancouver Island University is one of the post-secondary institutions in B.C. expecting operating deficits this year and next year. (Nanaimo Bulletin)

Vancouver Island University is one of the post-secondary institutions in B.C. expecting operating deficits this year and next year. (Nanaimo Bulletin)

B.C. colleges, universities allowed to run COVID-19 deficits

Falling revenue, rising costs mean red ink for 20 institutions

Twenty B.C. colleges and universities are looking at budget deficits for the current year, and 17 of them project a loss for next year as COVID-19 has hit their revenues, particularly from foreign students who pay a premium to go to school here.

The B.C. government announced an exemption to the balanced-budget rule for post-secondary institutions Friday, permitting 20 colleges and universities to run deficits totalling $178.9 million in 2020-21. For 2021-22, 17 institutions are approved for another $75.2 million in deficit financing.

“We’re providing stability so post-secondary institutions that have seen extra costs and lower revenue can navigate the financial impacts of the COVID-19 pandemic, while continuing to support students, staff and faculty, and deliver top-quality post-secondary education to people,” Advanced Education Minister Anne Kang said Feb. 12.

In addition to falling enrolment and tuition revenue, colleges and universities lose revenue from parking, bookstores, student housing, food services and academic conferences as a reduced number of students do their studies mostly online.

Deficits are projected this year at B.C. Institute of Technology, Selkirk College, Camosun College, Vancouver Community College, Coast Mountain College, Capilano University, College of New Caledonia, Emily Carr University of Art and Design, College of the Rockies, Kwantlen Polytechnic University, Justice Institute of B.C., University of B.C., Langara College, University of Northern B.C., North Island College, University of the Fraser Valley, Northern Lights College, University of Victoria, Okanagan College and Vancouver Island University.

RELATED: Masks required as B.C. universities resume in pandemic

RELATED: UFV’s fall semester goes online, in-person study delayed


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Okanagan’s first virtual wedding fair will be held Saturday, March 27. {Paul Rodgers photo)
Okanagan to host virtual wedding fair

Okanagan wine country is No. 1 destination for weddings - online event set for March 27

Butter and sourdough bread is shown at a house in Vernon, B.C. on Wednesday, February 24, 2021. A Quebec dairy farmers’ group is calling on milk producers to stop feeding palm oil or its derivatives to livestock as controversy churns over how these supplements affect the consistency of butter. (THE CANADIAN PRESS - Jesse Johnston)
Poll: Care to spread your feelings on butter?

Reports of hard butter have rattled the Canadian dairy industry

A dose of COVID-19 vaccine is prepared at a vaccination clinic in Montreal’s Olympic Stadium on Tuesday, Feb. 23, 2021. THE CANADIAN PRESS/Paul Chiasson
39 new cases of COVID-19 in Interior Health region

The total number of cases in the region since the pandemic began is now at 7,334

Kootenay-Columbia MP Rob Morrison speaks during Question Period in the House of Commons. File photo.
Kootenay-Columbia MP supports motion condemning Uighur genocide

Rob Morrison says labelling Uighur persecution as a genocide sends a message to Chinese government

Decorative snowboards provided by Off The Wall. (Claire Palmer photo)
Wildsight Golden contest wraps up

Two decorative snowboards were awarded

A health worker holds a vial of AstraZeneca vaccine to be administered to members of the police at a COVID-19 vaccination center in Mainz, Germany, Thursday, Feb. 25, 2021. The federal state of Rhineland-Palatinate, start with the vaccination of police officers in internal police vaccination centers. (Andreas Arnold/dpa via AP)
B.C. officials to unveil new details of COVID vaccination plan Monday

Seniors and health-care workers who haven’t gotten their shot are next on the list

(Contributed)
Kelowna flight potentially exposed to COVID-19

Third case on a local flight this month, compared to 14 through January

Vernon Search and Rescue, with help from the Air Rescue One helicopter out of Wildcat Helicopters in Kelowna, and Central Okanagan Search and Rescue, were able to transport an injured snowmobiler to Vernon Regional Airport, where he was loaded into an ambulance and taken to Vernon Jubilee Hospital with a serious, painful back injury. (Facebook photo)
Okanagan helicopter rescue teams called to retrieve injured sledder at Greystokes

Vernon and Central Okanagan Search and Rescue help load injured man into waiting helicopter

An investigation is underway after a man was shot and killed by Tofino RCMP in Opitsaht. (Black Press Media file photo)
Man shot and killed by RCMP near Tofino, police watchdog investigating

Investigation underway by Independent Investigations Office of British Columbia.

B.C. Supreme Court in Vancouver on Tuesday December 11, 2018. THE CANADIAN PRESS/Darryl Dyck
B.C.’s compromise on in-person worship at three churches called ‘absolutely unacceptable’

Would allow outdoor services of 25 or less by Langley, Abbotsford and Chilliwack churches

Wills Hodgkinson, 10, and his mom Neeley Brimer get ready to battle round three of cancer. The community of Penticton has his back. (Submitted)
Community raises $21K to help Penticton boy battle third round of cancer

Okanoggin Barbers held the fundraiser on Saturday for 10-year-old Wills Hodgkinson

Baldy Mountain Resort was shut down on Saturday after a fatal workplace accident. (Baldy Mountain picture)
UPDATE: 70-year-old man killed in workplace accident at Baldy Mountain

The mountain closed on Saturday but has partially re-opened today (Sunday)

Baldy Mountain Resort was shut down on Saturday after a fatal workplace accident. (Baldy Mountain picture)

Most Read