WEYBURN - A comprehensive look at the 小蓝视频 East Cornerstone Public School Division’s financial picture was brought to the boardroom table on March 25 during the board’s monthly open business meeting in Weyburn.
Manager of finance and payroll Marilyn Yurkiw pointed out various sectors within the financial environment where the division was either meeting, exceeding or falling behind on financial expectations and budget.
The recent completion of a collective bargaining agreement between the Ministry of Education and the Saskatchewan Teachers’ Federation brought some changes that were also noted in Yurkiw’s presentation.
She noticed that on the expense side of the ledger, 65 per cent of the budget is taken up by instruction needs, as expected.
“It consists of all costs of delivering kindergarten-Grade 12 instructional programming,” she said.
The new agreement – coupled with purchases of computer equipment that did not meet the capitalization guidelines and adjusted amortization costs including various department managers’ projection submissions – has led to an increase from budget of just over $2.2 million, she reported.
Other areas on the expense side, such as governance (board expenses) that are coming in slightly under budget, were also revealed.
Administration costs will be over budget by just under $100,000 due to additional costs associated with the accounting software upgrade.
Again, on the other hand, plant operations are anticipated to be lower by about $14,500 as well as tuition fees by just under $34,000.
Complementary services will be about $37,000 overbudget, she reported, with the costs associated with the new collective bargaining agreement 小蓝视频 the biggest change.
On the revenue side, Yurkiw noted that grant revenue is showing an increase over budget by about $560,000. She said the adjustment for enrolment changes had led to an earlier decrease in budget of about $851,000. However, the projection now accounts for about $1.41 million allocated to the division for a portion of the collective bargaining agreement (CBA) salary costs.
Tuition related fees will also be above budget by just over $179,000.
Overall, Yurkiw stated that as of the end of February, 23.8 per cent of the funds budgeted for asset additions have been spent.
In total, she noted that revenue areas showed an increase of just over $780,000 and the division is projecting variances from budget in most expense categories, with a net adjustment to expenses 小蓝视频 in the range of $2.2-$2.3 million over budget.
