Despite substantial swings in revenue and expenditure since the start of the school year, Campbell River School District’s bottom line remains essentially at its projected level, Secretary-treasurer Kevin Patrick told the School District 72 Board of Trustees during their regular meeting Jan. 20.
In his quarterly financial report to the board, Patrick noted the final grant received by the district from the Ministry of Education came in $465,000 higher than preliminary projections.
On the other hand, revenues tumbled nearly $5 million due to the Ministry’s clawback of funds allocated for the period when teachers were on strike last summer. Much of that loss has been offset by a corresponding savings in salaries, wages and benefits not paid during the job action.
In addition, the district’s average cost for teacher salaries has dipped, due to the salary differential between retiring teachers and incoming new teachers. But that, too, has been offset, with an increase in distributed learning, alternate and special education students.
Overall enrolment numbers, while still down 13 from last year, are stabilizing and are slightly better than preliminary projections.
Overall, Patrick said, the budgets are withing approved amounts and closely match the projected deficit of approximately $500,000. That shortfall has been filled by unrestricted reserve funds approved under the Board’s annual budget.