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Budget for 2019-20 provides stability for students

Balanced Books
Posted on 06/24/2019
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Trustees approved a balanced budget of $259.6 million for the 2019-20 school year tonight, providing the board with the financial stability required to continue delivering top quality, innovative, faith-filled and inclusive programming for all of its students.

“Given the circumstances, we’re very pleased that administration was able to balance the budget this year,” said Board Chair Fulvio Valentinis. “This is a responsible budget that puts us on solid financial ground and allows us to provide the excellent service that our students and their families have come to expect from us.”

Despite a reduction in Grants for Student Need (GSN) funding from the province of about $54 per student from $12,300 in 2018-19 to $12,246 this year, staff still managed to ensure that expenditures met revenues for the 2019-20 school year. Part of that accomplishment can be attributed to a projected increase in enrolment of about 226 students, which is expected to improve the board’s revenue. Total revenues from all sources are projected to increase by 0.4 per cent.

“This has been a challenging year due to some of the funding changes and timelines we were facing, but we still managed to create a balanced budget that reflects our strategic priorities for the coming year,” said Penny King, Executive Superintendent of Business. “We’ll continue to allocate our resources to providing faith-based, inclusive education for all of our students.”

Although there is no direct source of funding in the GSN for faith-based programming, the board will spend in excess of $992,000 for the delivery of Catholic education. The board will also spend about $3.6 million more than what it receives in grant funding to ensure that students with special needs are as fully and equitably integrated into its classrooms as possible.

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