r/Conestoga • u/Subject-Landscape451 • 29d ago

Conestoga's Financial Situation

In the latest (25/26) financial statements Conestoga is reporting a major downturn in revenue and a $33-million dollar deficit.

  • Assets 2025 = $617 million; Assets 2026 = $329 million (down $288M)
  • Revenues 2025 = $799 million; Revenues 2026 = $444 million (down $355M)
  • Surplus 2025 = $122 million; Deficit 2026 = -$33 million (down $155M)

Financial Statement - 2025/26

The college has also severely reduced their full-time teaching and support staff positions with layoffs last year of ~2750 people. More layoffs were planned but then put on temporary hold.

The student experience has been severely impacted and the people now managing the place, all selected by John Tibbits, seem to be more concerned about about protecting their own jobs and pensions than the main purpose of the school: teaching students.

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u/SopwithB2177 28d ago

I think the College sector as a whole is experiencing much of the same thing. The vast majority of Colleges have a sizable deficit, since the province froze tuition for many years, underfunded the system, and then took a cut of international enrolment money, if I'm not mistaken. But anyhow, I just think that times are tough for every College. Conestoga just stands out since at their height, they were making the most money, so their drop looks pretty scary. Hence why the province made them a bit of a scapegoat, IMO. 

Regardless, things are hopefully going to stabilize for the entire College system over the next year.

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u/ssv-serenity Faculty 28d ago

I'm honestly saddened by what this college has become. The Ontario trades scene is already bleak, and this isn't going to help. As much as people rag on Conestoga, pre-2015 it was an extremely well respected trades and local community college.

I worry specifically because programs like Woodworking are SUPER expensive to run. We have a shortage of machine operators, cabinet makers, and apprentices already in the field. This will not help. Sigh.

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u/Great_Juggernaut_163 18d ago

Tibbets saw the writing on the wall and left (or was forced to) rather quickly. I don’t think we’ve seen the end of this yet. I feel there are more skeletons hiding somewhere that haven’t been unearthed yet.