The Avon Maitland District School Board’s Superintendent of Corporate Services told trustees at this week’s meeting the board had a surplus from last year of $4.3 million.
Cheri Carter says they knew about four months into the year that they were spending a little less than usual and revenues were up a little, as well. Carter said on the revenue side, they had some extra students come back to the board, which resulted in more provincial funding.
“So presumably from home school or moving into the area, which obviously ups our revenue a little bit and then we also had some additional grant revenue in the transportation area because of the fuel component of the grant,” Carter said.
On the expense side, Carter explained there was some under-spending, partly do to their inability to fill all of their support staff positions and hire supply staff.
Carter also pointed out there are some restrictions on how they can use that surplus.
“The restrictions are your annual budget for the next year, so for 2022–23 we can’t just go in and spend all of the prior year’s surplus. We can’t file a deficit this year in order to eat up the surplus for a prior year. So you have to get special permission,” Carter added.
Carter notes this is strictly operating income and they are not allowed to use any of the surplus on capital projects, like building new schools.
