School District 43's appeal to international students could help the once financially-beleaguered administration pay off its debt sooner.
But it's too soon to put the money in the bank.
On Tuesday, the local board of education was told that as many as 400 more international students than were expected enrolled in Tri-City public schools — 1,700 compared to 1,300 who were budgeted — resulting in a potential $2 million bump in revenue after staff were hired to teach them.
But caution appears to be the new watchword because the district isn't counting on those funds until enrolment is confirmed in February and fees are paid.
With only three months into the year (the fiscal year begins in July), trustees were told it's too soon to count on a surplus and make plans for spending it.
Several issues remain on the horizon, such as the need to pay for portables, and the district also has to come up with $2.9 million to cover "administrative savings" required by the provincial government for next year.
Superintendent Patricia Gartland said the district is in a stable financial position and would like to restore services and pay down more of the debt but "there is still uncertainty around some of the funds."
It will be February before international education enrolment is confirmed and the district won't know its financial position until then.
The district had planned to put $2.5 million towards its $7-million debt this year — debt incurred during financial difficulties in 2012/’13 school year — and paying it down further would give it more flexibility in 2016/’17, Gartland said.
Another $1.2 million surplus left over from last year is also available for emerging issues.
Meanwhile, the district is also experiencing higher enrolment among regular students after 400 more showed up to class in September than were expected, generating an additional $4.7 million in revenue.
To accommodate the influx, including the additional fee-paying international students, the district added 50 teaching positions and 32 support positions this fall.
