Fanshawe braces for lean times

May 1, 2012

Despite enrolment growth, Fanshawe College is bracing for a few tough years due to the Ontario government's belt-tightening. Fanshawe's board of governors has adopted a strategic plan for a $197-million operating budget for 2012-13 that includes a $1-million shortfall, which will be covered by dipping into an operating reserve fund. The college's VP of administration says annual shortfalls are expected to increase to $3 million in the next 2 years. As Ontario tries to curb spending, the VP expects provincial grants to colleges will fall short of inflation and salary settlements. Fanshawe has prepared for the funding shortfall by steadily bumping up an $11-million reserve fund, she says. The college's strategic plan includes $55 million in capital spending, the largest component being the renovation of a downtown building for an arts campus. Measures to support strategic growth in current and new student markets include the launch of a virtual School of Graduate and Professional Studies this summer, and a new 3-year marketing plan. London Free Press | Fanshawe Strategic Plan 2012-13