Conestoga leads ON colleges with $252M surplus, anticipates lower income next year

The Record reports that Ontario’s community colleges have collectively reported operating surpluses worth $1B from the 2023-24 fiscal year. Conestoga College reported the largest surplus—nearly $252M in the 2023-24 fiscal year—which it attributed to the increased international student population. The college stated that “a surplus of this size is a one-time occurrence, and will be less next year as a result of the international student cap.” Conestoga faculty union president Leopold Koff welcomed the cap as an opportunity for college leadership to “reevaluate,” saying that the high number of students at the college has placed a strain on faculty and staff. The Record and CTV News also highlighted the impact that increased student numbers have had on the region’s public services.