June 19th, 2013

On Wednesday June 19, 2013, Waterloo Region District School Board (WRDSB) Trustees approved the 2013-2014 school year budget as outlined in the Report to the Board.

For the 2013-2014 school year, the WRDSB anticipated an operating deficit of $3.1 million, attributed to declining enrolment in secondary school. Several other factors are projected to impact the budget, including broad demographic trends and recent changes to Ministry policy.

Originally projected as a $4.3M deficit, a further addition of outstanding unfunded liabilities increased the deficit projection to $5.1M with $1.9M in reductions.

In addition, the WRDSB has included a budget of approximately $2M in one-time funding for strategic projects.

Trustees approved a balanced budget achieved, in part, by agreeing to use funds from the WRDSB’s accumulated surplus to offset any further reductions until a detailed financial review is undertaken.

As part of an on-going financial management plan, the WRDSB will:

  • build upon our current financial strategy
  • review programs, services and organizational structure to look for efficiencies and opportunities for savings
  • provide updates to the Board of Trustees throughout the year
  • reach a target of a minimum $4.6M on-going sustainable savings for the 2014-15 year

Quotes

“I would like to extend my sincere thanks to all staff for their hard work in preparing the 2013-2014 budget,” states Ted Martin, Chair of the Board. “I am pleased that we are positioning ourselves for future fiscal responsibility and success, and preserving our high-quality programs for our students.”

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About the Waterloo Region District School Board

The Waterloo Region District School Board (WRDSB) has approximately 40,000 elementary students and 20,000 secondary in 120 school locations in the Region of Waterloo. From junior kindergarten to grade 12, we provide high-quality instruction designed to develop a foundation of knowledge, skills and attitudes necessary for our student’s success. Our students regularly achieve a wide variety of honours in academics, fine arts and athletics, and have great success as they pursue further education and rewarding careers.