Province claws back SD43 surplus

Administrative savings directive to eat up $1.5 million of hold back money this year with more savings needed for 2016/17

Easy come, easy go.

That may be the attitude School District 43 will have to take as the province claws back $1.5 million from this school year's surplus to cover off a requirement to find "administrative savings," money the district had hoped to use for the classroom, trustees say.

article continues below

On Tuesday, SD43's board of education unanimously approved an administrative savings plan that will allow the government to reduce the district's funding by $4.4 million in total over the next two years.

"These were funds the board was hoping to allocate and it's been removed from us," said Coquitlam Trustee Barb Hobson.

The board was told the province's directive to find administrative savings equivalent to .05% of education expenditures in 2015/’16 and 1% in 2016/’17 was intended to find efficiencies. But secretary treasurer Mark Ferrari said the district already saves money with bulk purchasing agreements with other school districts and pooling legal resources, as suggested by the province, will be "marginal."

"We don't think we'll be generating nearly enough [in savings]," Ferrari said.

As a result, the district will put $1.5 million in funds saved from a holdback, received after the district's enrolment figures were finalized, into the savings plan and will use a combination of savings and additional revenue to cough up another $2.9 million the following year. A significant portion, $1.3 million, will come from increased fees foreign students will pay.

As well, the district hopes to save money on energy costs and generate additional revenue from rental and investment income.

Starting in 2016/’17, foreign students will pay $14,000 a year to attend SD43 schools, up from $13,000. Despite the planned increase, the district continues to expect robust enrolment from students from other countries.

Read Related Topics

© Copyright 2018 Tri-City News

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Tri-City News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Tri-City News POLL

Will you turn down the heat to conserve natural gas this winter?

or  view results

  • SUBSCRIBE TODAY!

    Subscription Club: $5/month or $50/year - Receive monthly deals from local merchants.

Popular Local News