Fleming College

Peterborough ON – May 27, 2010 – Fleming College is projecting a balanced budget for the 2010 – 2011 fiscal year as a result of increased enrolment and prudent management of expenditures. The college is projecting revenues of $88.7 million, an increase of approximately $1.3 million (1.5%) over the prior year. Enrolment growth in 2009–2010 was very strong at 14%. Flow-through of that record level enrolment will contribute to the balanced budget in 2010-2011. Projections for the coming year include a slight decrease in intake from these record enrolment levels. Expenditures are expected to increase 2.7%, primarily due to salary and benefits cost increases. Total full-time complement is projected to be 503, up slightly from 497 last year.“We are very pleased that we are able to present this balanced budget,” said Fleming College President Tony Tilly. “Balancing our budget remains very challenging in an environment where costs continue to grow faster than our revenues. However, through the work of our employees, we have been able to allocate our resources effectively to both remain within our projected revenue levels and provide the best opportunity for success in achieving our goals.”The college expects to end 2009-2010 with reserves of $7.6 million, allowing continued investment in new programs and research projects that will contribute to the growth of the college and surrounding communities.The college’s Board of Governors approved the budget at the May 26th meeting. The plan is available on the college website http://www.flemingc.on.ca/index.cfm/go/fleming/sub/about.cfm Located in the heart of Central Ontario, Fleming College has campuses in Peterborough, Lindsay, Cobourg and Haliburton. Named for famous Canadian inventor and engineer Sir Sandford Fleming, the college features more than 90 full-time programs in Business and Technology, Continuing Education and Skilled Trades, Environmental and Natural Resource Sciences, Fine Arts, Health and Wellness, and Law, Justice and Community Services. Fleming College has more than 5,700 full-time and 10,000 part-time students and over 50,000 alumni.                                                            – 30 -For more information:              Shelby Parker, Communications Officer, 705-749-5530 x 1370 or parker@flemingc.on.ca