Belleville, Ontario, June 2, 2022 – During their recent meeting, the Loyalist College Board of Governors officially approved the College’s 2021-2022 fiscal financial statements, including an in-year surplus of $7.084M and an accumulated surplus of $29.8M driven primarily by increased international enrolment at both Belleville and Toronto campuses. The budget effectively balances the strategic investments of today with the College’s long-term growth initiatives of the future.
“As we emerge from the pandemic, the College’s impressive enrolment growth is clear evidence that students are seeking the caring, customized and community-based experience for which Loyalist College is known,” said Board Chair Pam Jolliffe. “The consolidated financial statements demonstrate another strong year for the College, including another in-year surplus, which allows for continued strategic investment into our facilities, program development and student services.”
The Board also approved the 2021-2022 Annual Report, outlining the College’s achievements related to its Strategic Plan 2025 objectives. A primary achievement for this past year was the approval to offer a standalone Honours Bachelor of Science in Nursing degree, which recognizes Loyalist’s longstanding leadership in developing a homegrown health care workforce, as well as marking the second year in which Loyalist College received national recognition as one of Canada’s Top 50 Research Colleges, jumping up 11 places from the previous year’s ranking.
“These achievements did not happen in spite of our small size, but because of it,” said Dr. Ann Marie Vaughan, Loyalist College President and CEO. “As we traversed through the global pandemic, Loyalist College built even stronger partnerships, reinforced our values, and ended up in a far better position to embark on a post-pandemic future. Our close-knit, interconnected network of students, employees and community partners provided the ideal environment to foster resiliency and drive big ideas. We look forward to building on our victories and the lessons learned over the last two years as we continue to work with our wonderful community and industry partners across the Bay of Quinte region.”
About Loyalist College
Loyalist College is located on the territory of the Huron-Wendat, the Anishnaabeg, and the Haudenosaunee people. We acknowledge our shared obligation to respect, honour, and sustain these lands and the natural resources contained within. Ranked one of Canada’s top 50 research colleges, Loyalist College empowers students, faculty, staff, and partners through experiential, industry cluster-based education, training and applied research programs. As Ontario’s Destination College, the College provides job-ready graduates for, and knowledge transfer to, industry and the community. Located on more than 200 acres in the beautiful Bay of Quinte region, the College is perfectly positioned between Toronto, Ottawa and Montreal. Loyalist College offers more than 70 full-time diploma, certificate and apprenticeship programs in biosciences, building sciences, business, community service, health and wellness, media studies, public safety, and skilled trades. Continuing education options are available throughLoyalistFocus.com, including hundreds of online, distance and in-class courses, and through the College’s 100+ university transfer agreements. Loyalist College is a key driver of social and economic health in eastern Ontario. It contributes 3.8 percent of the Gross Regional Product, representing $396.3 million annually to the regional economy – based on an October 2021 report by Emsi. For more information on Loyalist College’s Belleville, Bancroft and Toronto campuses and Port Hope satellite location, visit loyalistcollege.com.
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