Rule change helps schools facing fiscal challenges

Recognizing the challenges of continuing to offer opportunities for post-secondary education during a pandemic, the provincial government will allow schools to run deficits for the next two years. Post-secondary institutions are required to get government approval before incurring an annual deficit. A temporary change to the rule allows the schools to use available surplus to maintain operations. The University of Victoria and Camosun College are among schools pre-approved for deficits.

Having a trained workforce will be key to economic recovery, and The Chamber supports this initiative to help post-secondary schools continue with their missions.