Kitchener, ON: On Monday, June 23, 2014, Waterloo Region District School Board (WRDSB) trustees approved a balanced budget for the 2014-15 school year, as outlined in the report to board.

This year, staff completed a System Fiscal Review for the 2013-14 school year, to find $4.6M in savings needed to balance the budget. While difficult, the board benefitted from the initiative, making sure we are in a stronger financial position, as we ensure long term financial sustainability.

Trustees approved a balanced operating budget of $681.7M, with a capital budget of $45.5M. A task force will also be established, to consider options and solutions to ensure long term fiscal sustainability, and stability of the board.

Quotes
“Trustees have had to make some difficult decisions to put the board in position to be able to balance our expenditures, with revenues we receive from the province,” States Chairperson Ted Martin. “Our staff have done a remarkable job to ensure we continue to direct our spending to those areas that most clearly support student achievement and well-being.”

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 118 school locations in the Region of Waterloo. From junior kindergarten to Grade 12 students, our schools provide instruction designed to develop the knowledge, skills and attitudes necessary to provide a solid foundation for living and learning.

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2014-15 Budget Backgrounder

Reductions in Spending

  • A savings of close to $1M in transportation costs was achieved by adjusting bell times at some of our schools. This savings is ongoing, and represents a 5.09% reduction in spending.
  • Reduction of 5% in administration and governance costs was achieved through alignment in staffing, and through the System Fiscal Review process.
  • Accommodation operating costs have also been reduced by 2.7%

Increased instructional spending

  • Instructional spending increased by $19M. Highlights include:
    • As Full Day Kindergarten enters the fifth and final year of implementation, funding for the program was rolled into the Grants for Student Needs (GSN), and students are now fully funded as 1.0 Full Time Equivalent (FTE). This change in funding recognizes FDK as a core education program for Junior and Senior Kindergarten students.
    • A change in the funding model for special education saw an increase of $632,000 in special education. This is the first part of a four year phase in of the new model.

Capital Priorities

  • Capital budget for 2014-15 is $45.5M
  • Includes money for three new schools (a new school on Groh Drive in Kitchener, Chicopee Hills PS in Kitchener, and a new school in the Vista Hills area of Waterloo), as well as money for the rebuilding of Westmount PS in Waterloo, and Riverside PS in Elmira.
  • School Condition Improvement grants increased by $5.7M. This increased funding will help improve energy efficiencies in our schools, and help meet compliance requirements of the Accessibility for Ontarians with Disabilities Act (AODA)
  • School Renewal Allocation increased by $6.7M

Moving Forward
A task force, consisting of staff and two trustees, will be established to engage in discussion, and consider options and solutions, to ensure the long term fiscal sustainability, and stability of the Board. The work of the task force will be reporter to the board periodically throughout the year.

 

 

Categories: Board