Mr. O’Melinn also noted that an item of note coming up in the 2007/08 fiscal year is adjustments to the teachers’ pension plan which will necessitate higher premiums to both employer and employee. The District’s increased costs are estimated at approximately $2 million.

 

 

Superintendent Doerksen provided a course fee update, in light of a review following a September court judgment on the School Board Fees Order. The following recommendations from the Superintendent were approved:

· To commit to include in the budget process a minimum allocation of $450,000 to provide for

the leasing of band instruments to support band and music programs in the district

· To indicate that, as a priority, during the regular budget process, the Board will consider

increasing allocations to middle and secondary schools to cover course fee reductions

 

As part of the ongoing review it was identified that school districts require a policy for the disposition of real property. The Board approved, via bylaw, a policy for the disposition to replace an existing administrative procedure dealing with real property dispositions.

 

 

Mr. Janzen reported that the 2006/07 Preliminary Budget was based on a budgeted surplus of $1.23M. In June the Board approved increasing it by $225,000 to $1,458,000 to address potential Bill 33 costs. As at June 30, 2006 a surplus of $1.723M was recorded. This leaves an unrestricted surplus of $265,000 as at June 30, 2006 compared to $20,000 last year. The District has no additional contingency to address cost pressures that may arise in 2006/07 at this time

 

The secretary treasurer reported on the fiscal year end projection based on actual expenditures as at the end of May 2006. The projection indicates a surplus of $1.449 M that is $216,000 higher than the amount included in the 2006/07 Preliminary Budget and includes the reduction in funding of $104,000 due to the Special Education audit. He said that school districts are waiting on the ministry announcement of the provincial redistribution of funds, which will offset some of the reduction.

 

 

The secretary treasurer reported on the fiscal forecast based on actual expenditures to the end of March, 2006. He advised that the estimated surplus continues to be in the range of $1.2M to $1.3M, which is consistent with the forecast provided last month. This range encompasses the $1.233M surplus included in the 2006/07 preliminary budget.

 

1. • enrolment reserve being higher than anticipated, as previously reported;
2. • second semester International Education enrolment;
3. • changes to various revenue and expense accounts.

The secretary treasurer advised that the forecast is based on 50% of the school year. He said that the significant cost period for natural gas has passed and is hopeful that the next forecast will have a better estimate of the utilities budget costs. Staff continues to monitor sick leave

costs to see how they are performing as compared to budget.

 

Board consideration and approval was sought for the 2005/06 Amended Budget Bylaw in the amount of $222,740,652.00.

 

Lorcan O’Melinn, Secretary Treasurer provided trustees with a 2005/06 Fiscal Year End Projection indicating a surplus range of $475,000 to $675,000 based on expenditures until the end of December. The secretary-treasurer noted for trustees that the Ministry grants of $3M have not been factored into this projection, because if they are not spent, they must be returned to the Ministry.

 

Bob Janzen Director of Financial Services, reported on the final financial report as at June 30th, 2005 for the 2004/05 fiscal year. He said that the actual year end position is an $820,000 surplus. The 2005/06 Preliminary Budget was based on a budgeted surplus of $800,000. This leaves an unrestricted surplus of $20,000 as at June 30, 2005, compared to $630,000 at the end of the previous fiscal year. He noted that the District has no contingency to address cost pressures that may arise in 2005/06 this time, except for limited flexibility with the enrolment reserve