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.

BC politicsCoronavirus

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

Just Posted

High winds Friday made perfect conditions for kite-surfers near the White Rock Pier. (Aaron Hinks photo)
PHOTOS: Kite-surfers take flight near White Rock Pier

Aerial performance put on near iconic waterfront attraction

White Rock City Hall (Peace Arch News photo)
City of White Rock seeking input on draft financial plan

Plan includes tax rate increase of 4.28 per cent

B.C. researchers are asking for the public’s help in monitoring the bat population. (Cathy Koot photo)
Semiahmoo Peninsula residents asked to monitor bat activity

Researchers keeping eye on spread of white-nose syndrome

Police tape is shown in Toronto Tuesday, May 2, 2017. (Graeme Roy/The Canadian Press)
CRIME STOPPERS: ‘Most wanted’ for the week of Feb. 28

Crime Stoppers’ weekly list based on information provided by police investigators

The Alzheimer Society of BC is hosting a number of webinars next month to help people prepare for financial and healthcare needs. (Contributed photo)
Alzheimer Society invites White Rock residents to series of educational webinars

Planning Ahead: Do it Now! webinar to be held March 10

An animated Gordie Hogg introduces his 'Community Connections' videos. (YouTube screenshot)
Community Connections: Gordie Hogg speaks with Lorne Ginther

Former mayor, MP began posting conversations on YouTube in June

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

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Baldy Mountain Resort was shut down on Saturday after a fatal workplace accident. (Baldy Mountain picture)
Alina Durham, mother of Shaelene Bell, lights candles on behalf of Bell’s two sons during a vigil on Saturday, Feb. 27, 2021. (Jenna Hauck/ Chilliwack Progress)
VIDEO and PHOTOS: Candlelight vigil for missing Chilliwack woman sends message of hope

Small group of family, friends gathered to shine light for 23-year-old mother Shaelene Bell

Jasmine and Gwen Donaldson are part of the CAT team working to reduce stigma for marginalized groups in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Jasmine’s story: Stigma can be the hardest hurdle for those overcoming addiction

Recovering B.C. addict says welcome, connection and community key for rebuilding after drug habit

A Vancouver restaurant owner was found guilty of violating B.C.’s Human Rights Code by discriminating against customers on the basis of their race. (Pixabay)
Vancouver restaurant owner ordered to pay $4,000 to customers after racist remark

Referring to patrons as ‘you Arabs’ constitutes discrimination under B.C.’s Human Rights Code, ruling deems

Most Read