School district sees surplus

Strike action leaves School District 68 with a $7.8 million surplus

  • Sep. 15, 2014 7:00 p.m.

At a special meeting of the School District 68 Board of Education last week, trustees approved the district’s financial statements for the 2013-14 school year.

Secretary-treasurer Phil Turin said that the school district ended the year with a larger operating surplus than had been projected, due in large part to the strike action in May and June. There was a $7.8 million surplus in the $120.2 million operating budget, with $3.7 million being restricted for specific purposes in the 2014-15 school year.

Turin advised the board that it should be prudent with the remaining $4.2 million unrestricted surplus, noting that there are still many unknowns about the district’s future financial situation, in particular what costs might arise from the resolution of the current strike action and future enrolments.