SUMMERSIDE, PEI – October 3, 2013 – Collège de l'Île held its Annual General Meeting (AGM) last Monday, September 23, at the Centre Belle-Alliance in Summerside. The Collège took advantage of the occasion to announce a financial surplus, amend its bylaws and regulations and elect new members to its Board of Directors.

At the end of the 2012 financial year, the Collège had accumulated a deficit of over $49,000. Over the past year it has had to make difficult decisions and review all its expenses to restore financial stability. The President of the Collège, Mr. Donald DesRoches, was pleased to present to the AGM a surplus of over $146,000 as of March 31, 2013, about $60,000 of which will be used to create a reserve fund. "We made great efforts to change how the Collège is managed. These efforts and this surplus will allow the Collège to start rebuilding its working capital so that it can restart its development projects without running any serious financial risks."

A few changes were made to the Collège's bylaws and regulations. The major changes include electing members of the Executive from outside of the Board of Directors, and election of these Executive members by the AGM or the Board of Directors.

Several positions on the Board of Directors were filled at the AGM. Mr. Robert Bullen was elected representative of the teaching staff for a one-year term. Mr. Shane Arsenault was elected student representative for a one-year term and Mr. Richard Harvey was elected representative of the economic sector to complete the second year of a two-year term.

In sum, Mr. DesRoches is optimistic about the Collège's future and direction over the next few years: "Despite our small size, I have three reasons to be certain that the Collège's future is bright. We are convinced that the Collège is being managed properly, we are working to ensure that students have quality learning experiences and we are taking advantage of strong partner relationships in order to continue our progress."

The Collège also took the opportunity to thank Colleen Soltermann for her years of service. She was Chair of the Board of Directors from November 2008 to last February, and has acted as Past Chair since then.

Collège de l'Île's 2012-2013 Annual Report is available here.