WEYBURN — A financial health report was delivered to the Â鶹´«Ã½AV East Cornerstone Public School Division’s board members June 17 during their open business session.
Marilyn Yurkiw, manager of finance and payroll, delivered the information to the board members, outlining the division’s financial operations up to May 31.
The finance manager pointed out a series of variances on both the revenue and expense sides, with the variances on the revenue side dealing with grants from all sectors. She noted that an adjustment for enrolment changes led to a decrease in a provincial grant by about $851,000. The projection, however, also included a $4,218,805 grant increase to accommodate the needs and meet the division’s additional costs associated with the recent collective bargaining agreement for educators.
“So, the net effect on our grant revenue is an increase over budget of $3,369,000,” she said.
Other revenue-related variances that were smaller in scale included $323,000 more in tuition and related fees, school and complementary services incomes, as well as external services.
On the expense side, she spoke of governance (board members) costs that are coming in about $16,000 under budget while administration costs will exceed budget by about $53,000.
Operations of plants will show a net effect that indicates this category coming in about $31,500 below budget. Transportation will also show a modest $7,600 lowering from earlier budget expectations.
Tuition and related fees paid to other school districts show Cornerstone coming in under budget in this area by just under $34,000.
Taken in total, she reported the projection that includes variances in revenue comes in at $3,681,073 over budget while the variances in expenses in all areas could be $3,431,661 over budget, leaving a net positive scenario.
