The Chinook's Edge School Division (CESD) is in good financial shape despite a $369,000 drop in accumulated surplus, according to treasurer Susan Roy. A special meeting of the CESD board was held on Nov.
The Chinook's Edge School Division (CESD) is in good financial shape despite a $369,000 drop in accumulated surplus, according to treasurer Susan Roy.
A special meeting of the CESD board was held on Nov. 26 to approve the audited financial statements for the financial year ending Aug. 31, 2014.
"Overall, Chinook's Edge is in good financial shape," Roy said. "There was an improvement in the budgeted deficit of slightly more than $3 million to $2,129,000 as a result of planned expenses and projects coming in under budget."
By the numbers, the 2014 expenses were $123,867,596 with revenues of $121,738,540, resulting in the deficit, which was covered by the accumulated surplus.
"While we still had a deficit, our revenues were up due to the sale of land held by the school division and unexpected grants," she said. "But to keep our expenses low, we have seen deficiencies in transportation and maintenance."
Roy noted that while the school bus fleet is aging it is in good shape now but at some point new units will have to be purchased to replace buses no longer cost effective.
Allan Tarnoczi, corporate services assistant superintendent, said: "In terms of facility maintenance, we have been able to maintain our schools more effectively with extra grant funds despite flat or reduced government dollars.
- Tim Lasiuta/MVP Staff
"Overall, Chinook's Edge is in good financial shape."Susan Roy,treasurer
