Camosun’s 2025/26 budget reflects the measures we’ve taken to maintain our current programs and services for students and continue to provide a high-quality education experience.
A balanced budget
As required under theCollege and Institute Act, the budget is balanced, with total revenues and expenses set at $172 million (operating and capital).
This balanced budget is based on the working assumption that $11.1 million in targeted reductions will be implemented over the fiscal year. These reductions allow us to maintain existing programs and services for students and continue delivering a high-quality educational experience.
Addressing the structural deficit
While we’ve achieved a balanced budget for 2025/26, the long-term structural deficit remains. Closing it permanently will require continued work to strengthen long-term financial sustainability.
What caused the structural deficit?
The structural deficit stems from:
- Flat provincial operating grants
- A 2% cap on domestic tuition increases
- Rising costs for wages, utilities, insurance, and services
Today, domestic students cover about 19% of their educational costs. The provincial grant provides about 67%, leaving a 14% funding gap that must be filled through other revenue sources each year.
What helps close the gap?
Several streams provide revenue that supports the college’s overall financial position.
- Base operations:Our largest activity stream. Includes the delivery of academic programming for domestic and international students through schools, departments, and administrative areas that provide high-quality programs and services.
- Camosun International:Recruits and supports international students and brings in significant net revenue. International tuition covers department operations and contributes to closing the structural deficit.
- Professional Studies and Industry Training (ProSIT) and contracts:Offers part-time vocational and general interest courses, as well as custom contract training. These programs generate profit while meeting community needs.
- Camosun Innovates:Engages students and faculty in applied projects, attracts capital equipment investment, and enhances the college’s reputation.
- Ancillary services:Includes Bookstore, Child Care, Food Services, Transportation and Parking, and Recreation. These are expected to be financially self-sufficient and ideally generate a net contribution.
- 䲹辱ٲ:Includes provincial grant funding and internal allocations for maintenance, renovations, and minor campus upgrades. It also accounts for amortization of internally funded assets. The budgeted capital deficit reflects the accounting impact of this amortization.
Budget 2025/26 revenue and expense by activity stream (millions)
Understanding tuition fees
Tuition is budgeted at $47 million, representing 28% of the college’s total expected revenue for 2025/26.
- The province’s tuition policy caps domestic tuition increases at 2% per year.
- We receiveno operating grant for international students. International tuition is designed to be predictable, affordable, and support the entire college.
- For 2025/26, international tuition rates will increase by 3.4%, as approved by the Board of Governors under a five-year plan.
91 tuition revenue (actual) by year (millions)
Budgeted revenue
The chart and table below show where every revenue dollar is expected to come from in 2025/26.
2025/26 budgeted revenue by type ($172 million)
| dzܰ | 2025/26 Budget | Share of revenue (%) |
|---|---|---|
| Provincial grants | $84 | 49% |
| Domestic tuition | $27 | 16% |
| International tuition | $21 | 12% |
| Capital grants | $14 | 8% |
| Contracts and other grants | $9 | 5% |
| Գ | $8 | 5% |
| SkilledTradesBC grant | $5 | 3% |
| Other revenue | $4 | 2% |
| $172M |
Budgeted expense
The charts and tables below show where revenue dollars are expected to be spent in 2025/26.
2025/26 budgeted expense by type ($172 million)
| Expense | 2025/26 Budget | Share of expense (%) |
|---|---|---|
| Salaries and benefits | $137M | 79% |
| Amortization | $10M | 6% |
| School and department non-personnel costs | $10M | 6% |
| College-wide | $7M | 4% |
| Major maintenance and repair | $5 | 3% |
| Costs of goods sold | $3M | 2% |
| $172M |
Expense breakdown
Other expenses
Other expenses ($18.4M million)
| Expense | 2025/26 Budget | Share of expense (%) |
|---|---|---|
| Amortization | $10.4M | 55.56% |
| Major maintenance and repair | $5 | 27.78% |
| Costs of goods sold | $3M | 16.67% |
The college receives funding support from government to construct and maintain our buildings, however they do not fund our annual operating capital equipment needs. The budgeted capital deficit is the accounting result for the annual amortization charge for assets funded by the college in prior years.
Amortization
Amortization spreads the cost of the college’s tangible capital assets over their useful lives. The $10 million amortization line covers capital asset additions acquired in prior years, including:
- Computers, servers, AV equipment, and software (IT plan)
- Lab and shop equipment used to deliver programs
- Furnishings for classrooms, labs, common areas, and offices
- Campus buildingand structures
Major maintenance and repairs
Camosun operates 46 buildings and structures across Lansdowne, Interurban, and the Coastal Centre. Keeping them safe and fully functional costs $5-6 million a year, about 95% of which is covered by government.
Cost of goods sold
The $3 million cost of goods sold line records the direct cost of:
- The purchase of textbooks and other merchandise sold in campus bookstores
- The production and sale of food and beverages in the Cook’s Training Cafeteria
Expense breakdown
Schools, departments, college-wide
Schools, departments, college-wide ($16.7 million)
| Expense | 2025/26 Budget | Share of expense (%) |
|---|---|---|
| Facilities equipment, maintenance, and utilities | $4M | 22.22% |
| Program equipment and supplies | $3M | 16.67% |
| Software licenses | $3M | 16.67% |
| General operating supplies and systems | $2.4M | 13.33% |
| Recruiting, marketing, and advertising | $2M | 11.1% |
| Travel, events, committee expenses | $1.5M | 8.33% |
| Legal and professional services | $0.8M | 4.44% |
Understanding staffing cost reductions
The college’s spending on people has risen sharply in recent years. Staff numbers grew across all employee groups, and we have had to keep salaries competitive to attract and retain high-quality faculty, instructors, and staff. In 2024/25, salaries and benefits for all employee groups totaled almost $145 million.
Salaries and benefits already account for 79% of total expenses, so workforce adjustments have the greatest impact when savings are required. To balance the 2025/26 budget, the college must reduce costs by $11.1 million. Those savings come from the following areas:
- School restructuring: $1.1 million
- Matching capacity to demand reductions: $4.6 million
- Student services and supports: $1.6 million
- Vice-President, Enrolment and Community Engagement reductions and redistribution: $1.3 million
- Ancillary and non-base activities: $1.2 million
Cost reductions by employee group
2025/26 cost reductions by employee group (millions)
| Employee group | 2024/25 salary/benefits | 2025/26 targeted reductions | % of salary and benefits |
|---|---|---|---|
| Exempt | $19M | $3.8M | 20% |
| CCFA | $72M | $4.5M | 6.2% |
| CUPE | $40M | $2.3M | 5.7% |
| BCGEU | $14M | $0.5M | 3.6% |