Board approves withdrawal of $1.

5M of reserves Loyalist College balances budget Alexis Allison QMI Agency Loyalist College has balanced its budget for the upcoming school year. The Loyalist College board of governors approved its new business plan and budget. The plan balances operating revenues of $60.6 million with the equivalent operating expenditures of $60.6 million, but the board had to draw on reserves to make it happen. “We're very pleased with the results of our business plan and staff have been very innovative and made lots of improvements, continuous improvements, which is always a challenge, of course,” said college president Maureen Piercy, noting the budget was balanced with support from reserves. The college is using nearly $1.5 million from reserve funds in order to balance the budget. “We're introducing new programs and we're providing a significant amount of academic capital to help with the learning experiences for our students,” said Piercy. Of the $60.6 million, $1.35 million will be allocated to the construction of an integrated newsroom in support of Loyalist's new joint-journalism program with Trent University, while $1.2 million will be allocated to the renewal of the student enrollment services area into a “welcome centre” to provide new and returning students with important services more efficiently. The college will use an estimated $536,000 in reserve to help fund the projects Construction of the welcome centre will begin in 2013-14 while construction of the integrated newsroom will begin immediately in preparation for the upcoming school year.

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