Ontario colleges slash spending by $752-million this year as sector undergoes major shift away from international students

Ontario colleges have cut their spending by $752-million so far this fiscal year as the sector grapples with a rapid drop in international enrolment.The Financial Accountability Office of Ontario (FAO) released its second-quarter expenditure report Tuesday. The data provide insight on the impact federal immigration policy changes are having on college spending through the first half of the fiscal year. Unlike universities, colleges are included on the government’s books.The FAO report found that unaudited spending in the postsecondary sector overall is down $425-million, or 6.9 per cent, compared with last year. It was the only sector that experienced a decline. Health, education, and children and community services, by contrast, were all up at least 7 per cent compared with last year.