The president and CEO of Georgian College in Owen Sound and Barrie says they cannot continue to cope with the funding shortfall from the province.
MaryLynn West-Moynes says Ontario needs to find a funding solution to ensure students can continue to have access to high quality programs and supports that lead to good jobs.
“We’re doing everything we can to cope with the funding shortfall but it can’t continue like this,” says West-Moynes. “Ontario must find a solution that ensures students will continue to have access to the high-quality programs and supports that lead to good jobs and long-term success.”
She says since 2008, provincial funding for operating costs to colleges has decreased in real dollars every year.
She says Ontario's 24 colleges have suffered an accumulated shortfall of about $900-million in the past decade, which is adjusted for inflation.
A new report by PwC Canada suggests that if no actions are taken to change current trends of revenues and expenses, colleges could face an annual operating deficit that will exceed $400-million a year by 2024-2025 and a cumulative shortfall of more than $1.9-billion by that time.
College representatives will meet with Advanced Education and Skills Development Minister Deb Matthews in February to talk about underfunding, and are seeking an urgent meeting with the premier.
A statement from Georgian College says the underfunding is puzzling at a time when the economy is being transformed by accelerating technological advancements.
West-Moynes says they must find a solution or Ontario won't have a high skilled workforce and the economy will continue to sputter.
“The government must work with us to find a solution,” West-Moynes. “Ontario must commit to the long-term sustainability of college education to produce the highly skilled workforce that is essential in this new economy.”
