The Wellington Catholic District School Board has approved a balanced budget that continues to ensure excellence in faith formation, learning and achievement. The 2016/17 budget was approved for final submission by Trustees at its public meeting Monday, June 20th. The board continues to address the financial impact of declining enrolment in conjunction with the phase out of the declining enrolment adjustment grant, while at the same time ensuring a secure financial future. Enrolment patterns are consistent with enrolments across the province.
The Board received an increase in the area of Special Education grants for the third year. The funding for this grant will continue to increase over the next two years. The Board was able to implement operating efficiencies and expenditure reductions to offset revenue reductions and submit a balanced budget.
Board Chair, Marino Gazzola, affirmed the work of Senior Administration and the alignment of the budget priorities with strategic priorities. "We were able to approve a balanced budget despite some on-going challenges related to enrolment, school renewal, transportation and utility costs. It's a workable budget that allows us to continue to prioritize student learning and well-being.
The 2016-17 Budget represents total expenditures of $98.5M. The Board's revised budget for 2015-2016 was $97.8M excluding one-time labour adjustments. This budget represents a .7% increase in total revenues and expenditures over the 2015-16 Revised Estimates.
At August 31, 2015, the Board had an accumulated surplus available for compliance of $ 5,8M. The projected balance for August 31, 2016 remains the same. This Budget does not require the use of any of the surplus balance.
The approved budget will be submitted to the Ministry of Education by the June 30 deadline.
For more information
75 Woolwich St
Guelph Ontario
Canada N1H 6N6
www.wellingtoncdsb.ca/
