School District 43 is in the process of analyzing its financial situation in the wake of provincial holdback grants released last week.
The province announced that school districts would get $60 per student from funds held back at the beginning of the year in case enrollment was higher than forecast. For SD43 that amount is $1.8 million, and while less than the $2.5 million budgeted for 2013/'14, the district has two more opportunities to get more grants when February and May enrollments are calculated.
Ministry of Education, meanwhile, stated in a press release that $17.8 million in holdback funding would be used to fund higher student enrollment in some districts, $31.6 million would be distributed in $60 per student grants and a further $10.2 million is being kept back to address enrollment growth in February and May.
"By holding back this portion of the $4.725 billion total funding committed to K-12 education for 2013-14, the ministry is able to manage unforeseen pressures or swings in student enrollment and ensure all school districts are treated equitably," the ministry stated in a press release.
Secretary Treasurer Mark Ferrari is awaiting other information before producing a second quarter report that shows the district's financial situation, and trustees will be given first glimpse, possibly as early as next week.
"There's a lot of ins and outs that are coming in to play," Ferrari said.
The district is also awaiting the final outcome of a forensic audit to look into how it ended up with a $8 million operating deficit last year. That report is also expected to be released to the public in the new year.
