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Wednesday, December 30, 2015

Surplus Funds Already Earmarked

Grey Bruce | by John Divinski  

Bluewater Board says $1.9-million in 2014-15 will disappear in this fiscal year.

The Bluewater District School Board's 2014-15 operating year ended up with a surplus but the money is already spoken for.

Superintendent of Business Services/Treasurer Rob Cummings told a recent meeting of board trustees that the surplus will disappear in 2015-16.

Cummings says projects started last year, will be completed this fiscal year.

He says the surplus was about $1.9-million.

When you take away the surplus, the board finished 2014-15 with pretty well a zero-based budget.

Cummings says looking ahead, the Ministry of Education considers the board's operating position still at a medium-to-high-risk level.

He says with a lean operating budget and increasing infrastructure requirements, addressing new financial pressures will be limited.

The province has urged the board to continue reducing the surplus space in schools as a cost-saving opportunity.




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