The Board of Trustees of St. Paul Education Regional Division No. 1 has approved the 2016/17 audited financial statements along with an update to its 2017-18 budget.
The audited financial statements for the 2016-17 school year show a deficit of $391,432 on $56,683,808 in expenses, compared to the previous year’s $412,387 deficit. Total annual operational spending per student is $14,259 which works out to about $72 per day, demonstrating the excellent value that is provided by public education.
Due to a lower than anticipated enrolment, the fall budget update for the 2017-18 school year is now projecting a deficit of $1,401,047. The Board had earlier agreed to maintain staffing and use reserves to offset the anticipated deficit. Should enrolment not rebound, some adjustments will have to be considered for next year.
Board Chairperson, Heather Starosielski stated that while the goal is always to live within its means, careful planning means that the Division does have some reserves that are available to smooth out the highs and lows associated with our economy. Reserves are however a short term measure and time will tell if other action will be necessary.
The updated annual education plan and complete financial statements are available on the St. Paul Education website, stpauleducation.ab.ca.