College budget hits $100M

Okanagan College passed its first $100 million budget for the 2016-17 school year Tuesday.

The college says the new budget will add more capacity for students and provide additional financial aid support.

The new budget comes just over one month after the college approved a two-percent tuition increase for students, the maximum annual increase allowed by the provincial government.

The budget allows for an additional 3.7 full-time equivalent staff members in the financial aid department and the finance department, which will provide a financial aid staff member for all four campuses.

A full-time equivalent staff member indicates the workload of one staff member.

“We started the budget process several months ago with a gap of about $2 million we needed to wrestle with, and we have found a way to address that and continue to build Okanagan College,” said Roy Daykin, vice president finance and administration, in a statement. “Our enrolments and tuition revenue were larger than budgeted in 2015-16, and we were able to incorporate those on an ongoing basis as well as find ways to build capacity for international and domestic students.

“Our international department has exceeded its target for 2015-16 and saw ways to continue that momentum working with the program areas in the coming year.”

The college will be looking for five new instructors, as the new budget increases capacity in network and telecommunications engineering technology, electronic engineering technology, computer information systems, and business administration.

Last year, Okanagan College’s budget was $95 million. 


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