B.C aids post-secondary schools with deficit support
Photo of the North Island Campus in the Comox Valley, provided by NIC)
Some post-secondary schools on Vancouver Island and the Sunshine Coast are getting help from the provincial government.
They will now be able to run budget deficits for two fiscal years using the money earned from previous years.
That means post-secondary schools will be able to maintain current programs and support for students, despite the impact COVID-19 has made.
“Post-secondary institutions have worked tirelessly to safely support British Columbians in their educational goals while facing the continued challenge of COVID-19,” said Selina Robinson, Minister of Finance.
“The ability to work within a deficit over the next two years is one of the ways we can ensure these institutions can work through this difficult period and into a strong economic recovery, while continuing to provide educational opportunities for the next generation of British Columbians.”
The province also says this multi-year approval will help schools as they plan for more students studying on campuses later this year, as public health orders allow.
The schools included in the new approved deficits in the region include Camosun College and all campuses for North Island College and Vancouver Island University.