NIC Budget Responds To New Fiscal Realities

North Island College has a budget for 2025-26.

The Board of Governors for North Island College passed the annual budget at a meeting April 17, 2025.

“With so many economic questions right now, the college faced a large task in working toward a balanced budget,” said Patricia Trasolini, chair of the NIC Board of Governors.

The annual budget, the college said in a statement, is balanced despite fiscal challenges resulting from federal government policy changes last fall for international students, which led to enrolment reductions at post-secondary institutions across the country.

“Getting to a balanced budget required the college to make some difficult choices,” said Colin Fowler, Vice-president, Finance & College Services.

“As a small college that serves a geographically large region, fiscal sustainability will always be an important pillar to the success of North Island College.”

Overall, the $67.1 million budget includes reduced costs of $3.0 million, which resulted in some reduced programming and staffing levels.

Post-secondary institutions are required to pass balanced budgets.

A goal in NIC’s current strategic plan, BUILD 2026, was to pass a balanced budget within three years of the end of the pandemic, a goal that was reached last fiscal year.