Prairie South School Division expected to finish the 2020-21 year with a deficit of nearly $2 million, but thanks to extra provincial funding, it will likely finish with a surplus of roughly $800,000.
As of Aug. 31, the unaudited financial statements showed the division finished the year with a surplus of $828,824. In comparison, it had expected to finish with a deficit of $1,885,679.
Total revenues were $91.1 million, while total expenses were $90.3 million.
While the surplus looks good now, that could change slightly because the division office will soon start working on year-end reports, business superintendent Ron Purdy said during the board of education’s recent October meeting.
Purdy presented a fourth-quarter/year-end report to the board since the Ministry of Education wanted a document with tentative numbers before the end of September. He had presented a similar report to trustees in early September containing third-quarter/year-end numbers.
Prairie South received $4,054,983 in additional revenue from the Ministry of Education last year. That money included:
- $3.4 million to handle the pandemic
- $333,000 from the federal government to enhance the climate sustainability of buildings
- $1.65 million in emergent funding for projects
- $559,000 for internet
- $150,000 for masks
Meanwhile, the ministry held back $1.75 million for the new joint-use school since no progress has been made on its construction, said Purdy. There was also $225,000 in preventative maintenance and renewal (PMR) funding that the division received but did not spend because it didn’t have the capacity — manpower — to complete the work.
Purdy added that the surplus from last year could support the 2021-22 budget.
Revenues
Grant revenues were $85.3 million, compared to the budget of $80.6 million.
School-generated funds sat at $429,144, compared to the budget of $1.5 million. Purdy noted there were fewer school activities and fundraisers, which is why this area declined.
External services finished at $3.7 million, compared to the budget of $3.5 million. This increase was because the associate schools — Cornerstone Christian School and Briercrest Elementary — received $159,000 in COVID-19 funding.
Complementary services revenues were $691,956, while the budget was $625,142. Further, the ministry provided $50,000 in additional funding for early learning intensive needs supports, while the division received a donation of $15,000.
The “other” category had revenues of $704,593, compared to the budget of $519,300. This area, said Purdy, received $88,000 on the sale or write-off of buses, $30,000 from an SGI rebate, $37,000 in rebates from the division’s human resources and payroll provider, and $70,000 in rebates from the Workers’ Compensation Board.
Expenses
Expenses were $90.3 million, compared to the budget of $89 million.
The division was $1,340,480 over budget, mainly due to the pandemic, said Purdy. The biggest variances were in instruction, building plant, transportation and school-generated funds.
Instruction expenses finished at $60.1 million, compared to the budget of $59.2 million.
“Instruction (was) over because we added $1 million for the virtual school,” he remarked.
Governance finished at $389,350, compared to the budget of $460,988.
Administration ended the year at $2.9 million versus the budget of $2.8 million.
Building/facilities ended with $15.1 million in expenses, compared to the budget of $13.4 million. This area is over budget, said Purdy, because of the emergent funding projects the division pursued and the spending of pandemic-related savings.
Transportation expenses were $6.0 million compared to the budget of $6.5 million. This area declined because the division saved $100,000 in fuel costs and other repairs.
Expenses in school-generated funds were $432,664, compared to the budget of $1.4 million.
Complementary services expenses were $1.3 million, compared to the budget of $1.2 million.
External services expenses were $3.8 million compared to budget of $3.7 million.
The next regular PSSD meeting is Tuesday, Nov. 2.
