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.