Board Highlights - Nov 28, 2017 |
Board Highlights - Nov 28, 2017
1. The financial audit of the 2016-17 school year was presented to the board for approval. Overall, Prairie Rose School Division received a clean audit report from auditors Avail LLP. The division posted a deficit of $681,624 or -1.3% of total revenues (approximately $80,000 over projections). Highlights of the audit report include a small surplus in the Instructional budget line, a higher than anticipated deficit in Plant Operations and Maintenance (due to a delay in an insurance payment) of $432,630 and a higher than projected deficit in Transportation of $415,306 ($13,011 over budget). It was noted that Board and System Administration came in below budget resulting in $36,666 being retained for instructional programming. The full audit report (Full Report) is available on the division website.
2. The board approved the Revised 2017-18 Budget. The revised budget reflects funding changes compared to the spring projections including enrolment reductions of 1.4% or 44 FTE, an IMR increase of 13%, and the addition of CIF ($473,000) and Nutrition Program ($141,000) funding. Highlights of the budget include a projected deficit in Instruction $40,576, a deficit in Plant Operations and Maintenance of $198,963, and a deficit of $529,952 in Transportation. Overall the projected deficit for 2017-18 has increased from $655,918 to $754,777. Based on the revised budget, division operating reserves (including school reserves) are projected to decrease to 4.68% or 12 days of operation. The revised budget report (Full Report) and budget presentation (Budget Summary) is available on the division website.
3. The board approved the 2016-17 AERR and 2017-2020 Three-Year Education Plan. The plan contains highlights, accomplishments and trends, the division Capital Plan, a summary of the 2016-17 Financial Audit and 2017-18 Budget, the division Accountability Pillar Results and a list of strategies related to Alberta Education directed outcomes and goals. The full report (Full Report) along with the two-page information (Summary Document) summary is available on the division website.