Despite facing serious funding challenges, the Hastings Prince Edward District School Board has presented a balanced budget for approval.
The 2023-2024 budget presented Monday afternoon to the Physical Property, Finance and Building Committee includes a small surplus of $22,597.
Board officials were facing an estimated $4.9 million shortfall for the upcoming year due to less funding, and increased utility costs and inflation, but were able to balance the books using several strategies:
- No excess funding: Board priorities were removed, deferred, or targeted funding was used.
- Aligned expenses to funding: Reductions where expenses exceeded funding.
- Central staff: Reduced, aligned to targeted funding.
- School staff: Staffed to meet regulation and collective agreements.
- Special education: Temporary funded staff removed, allocation of staff.
- Auto reimbursement: Reduced.
- Temporary funding: Expenses reduced where funding was removed.
Under Ministry of Education requirements, a balanced budget is required after two years of deficit budgets, which HPEDSB had over the last two school years, to avoid depleting financial reserves.
Overall, projected Grant for Student Needs revenues for HPEDSB increased to $220.1 million and Priorities and Partnership Funding grants increased to $3.1 million, for total revenue of $233.2 million. Total projected expenses are $232.5 million, plus about $668,000 in costs described as unavailable for compliance, which leads to a slight surplus for compliance of $22,597.
The proposed budget has been recommended by the Physical Planning, Finance and Building Committee for approval to the Board of Trustees at the Public Board meeting on June 19.
The province requires budgets to be ready by the end of June.
