In the face of cuts to postsecondary spending by the province, Keyano College announced they would weather the storm.
First, the school said there would be no staff reductions or impacts on student services in this fiscal year.
Released on Oct. 24, 2019, the 2019 Provincial Budget planned to cut the advanced education budget by 12 per cent by 2023.
The portfolio received a five per cent cut in 2018.
Nevertheless, Keyano College president and CEO Trent Keough said this new budget prompts the college to be efficient and effective.
“From fire to floods, to economic upheavals, we are used to dealing with adversity and we will also respond positively to this challenge.”
Keyano faces a $744,000 or 2.2 per cent reduction in its Campus Alberta Grant for 2019-20.
However, this falls within the school’s budgeted forecasts.
By the numbers
While apprenticeship funding at Keyano took a hit of $494,260 or 39 per cent overall, seats increased from 608 to 645.
The college accounted for the reduction by building it into their fiscal plan.
Nevertheless, the removal of the tuition freeze will lead to Keyano’s Board of Governors to discuss a potential increase in 2020-21.
To improve its finances, Keyano College announced they would exercise spending restraint while increasing enrolment.
The Alberta government already included a small increase in mental health funding and $8-million in the college’s capital plan for campus upgrades.
This is the second and final instalment of a $15.8-million capital infrastructure grant Keyano received in 2016-17.
The grant would address deferred maintenance, which closes in fiscal 2019-20.
Mayor Don Scott shared his thoughts on the budget in a statement released on Oct. 25, 2019.
