Increased enrollment, especially among international students, helped Loyalist College end its fiscal year in good financial shape.
At a meeting Wednesday Loyalist’s Board of Governors heard that it ended the 2019/20 fiscal year with an an almost $7 million surplus. The accumulated surplus stood at $17.1 million and some of that money will be used for investment in student centred activities.
Meanwhile, the board had a look at a proposed budget for the coming year showing an in-year deficit along with plans to drive revenue through new programs however a business plan and budget won’t be finalized until early in the fall.
There are concerns enrollment revenue could drop due to pandemic issues in future but Loyalist is set to weather any challenges.
Loyalist has been providing quality education as the college has been rated above the provincial average in surveys involving graduate satisfaction, employer satisfaction, student satisfaction, graduate employment and graduation rate.
