By Greg Estabrooks, The Nugget
Canadore College is facing a major cash crunch and may have to do away with a large chunk of programming in the near future.
That stark proposition was spelled out in their 2026-27 budget which was approved by the Canadore College Board of Governors last week. The budget report indicates that Canadore has a current operating deficit of $23.8 million dollars for the coming year which it says it can cover with reserves for one year.
https://cdn.agilitycms.com/canadore-college/2026-2027
But Canadore says the college cannot do that for the long term.
“Given the current funding level, Canadore will continue to review its program mix in the 2026-2027 academic year and beyond. Current estimates indicate that approximately 35% of Canadore’s post-secondary programs will result in cancellation or suspension,” according to the budget document, which has been posted to Canadore’s website.
Canadore College, like other post-secondary institutions, are navigating a big budget hole caused by a huge shortfall in international student enrolment following federal cap changes. The school plans to attack this issue by deciding what programs will be most beneficial to the college and the region.
But that still means major changes are coming, changes that have been already happening for months.
Canadore College announces more restructuring due to low enrolment | North Bay Nugget
“The key question, beyond funding for publicly assisted colleges, is two-fold: which sector(s) of the economy we are willing to abandon, and what impact this will have on regional and provincial economies. The focus on high-priority, higher-funding-weighted programs is increasingly important. Canadore will aim to grow domestic enrolment by further strengthening ties with business and aligning program offerings with local and regional needs. This will entail expanded modes of delivery, the introduction of new programs, and expanded corporate education offering,” according to the budget document.
Canadore’s budget report also analyzes funding freezes from the provincial level.
“Colleges in the province of Ontario continue to face financial crisis. Provincial funding remained static for years and increases to student fees are subject to provincial approvals and remained frozen since a 10% reduction in 2019.”
Canadore College says they’ll continue to experience budget pressures in the current and upcoming fiscal years.
While MCURES (Ministry of Colleges, Universities, Research Excellence and Security) recently announced a new funding model and changes to the tuition framework that provide some relief, provincial funding continues to fall short of the rising costs associated with operating a college.
Although the provincially mandated tuition freeze has now been lifted, and domestic tuition is permitted to increase by 2 percent in fiscal 2026 – 2027, these changes only partially mitigate the ongoing funding gap.
The budget document did not layout what positions or programs are on the cutting block.
Ironically, the college recently announced it is look to purchase new property for possible expansion.