Board deficit

The Glengarry News - - The Opinion Page -

The Catholic District School Board of Eastern On­tario has re­ceived good news and bad news in its re­vised fi­nan­cial es­ti­mates.

The board has ex­pe­ri­enced an in­crease in en­rol­ment of 1.4 per cent over the fore­cast en­rol­ment from the orig­i­nal es­ti­mates, Man­ager of Fi­nance Ash­ley Hutchin­son told trustees re­cently.

How­ever, the CDSBEO is re­port­ing an es­ti­mated in-year op­er­at­ing deficit of $632,000.

“The in-year op­er­at­ing deficit in­cludes an over­spend­ing in trans­porta­tion of $2.5 mil­lion. This over­spend­ing is a re­sult of the trans­porta­tion ar­bi­tra­tion or­der im­posed on trans­porta­tion rates for 2016-2017, 20172018, and 2018-2019.”

With­out the ar­bi­tra­tion or­der, the board has es­ti­mated an in-year op­er­at­ing sur­plus of $1.9 mil­lion. This in­cludes $1.2 mil­lion in school con­sol­i­da­tion sav­ings, as well as other grant in­creases re­sult­ing from higher than ex­pected en­rol­ment. These sav­ings were ap­plied to off­set the trans­porta­tion over­spend­ing.

The board will pro­vide in­terim re­posts in Fe­bru­ary and May, with the fi­nal fi­nan­cial state­ments pre­sen­ta­tion to trustees in Novem­ber.

The to­tal ex­pen­di­tures for 2018-2019 are ap­prox­i­mately $188.8 mil­lion.

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