By Rosalind Russell – Cambrian College posted a record surplus coming in at almost $41.8 million for the 2024-2025 financial year, but the institution is projecting a deficit for the next fiscal year.
Audited by KPMG, the college’s financial statements were approved by Cambrian’s board of governors showing a surplus of nearly $41.2 million.
However, Cambrian president Kristine Morrissey says Cambrian is projecting a $1.4 million dollar deficit for the 2025-2026 fiscal year, and in April suspended intake to ten of its programs, most of them previously with strong international student enrolment.
Federal legislation curbing international students is named as the cause.
Morrissey says of the surplus, $38 million was transferred to the college’s stabilization fund for future deficit coverage, and $2 million was set aside for an endowment fund, to which Cambrian will solicit matching donations.
She says the college is in good shape due to their diligence and maintenance of reserves to cover the projected loss of revenue.
Photo by Rosalind Russell
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