The post-secondary institution is reporting an $875,000 deficit.
In a release today, NLC cited a number of factors that led to the current situation.
- Reduced operational funding from the Province’s Ministry of Advanced Education, as outlined in the 2013 provincial budget;
- Eliminated base budget funding for English as a Second Language instruction;
- Mandated wage and salary step increases for unionized staff members;
- Increased amortization costs; and
- Increased building maintenance and utilities costs.
A news conference has been called to answer questions and explain the details.