Regular Board Meeting Highlights - November 26, 2019
November 27, 2019 - The Board of Trustees is pleased to share with all education stakeholders the highlights of our recent Board meeting held on Tuesday, November 26, 2019. The adopted minutes will be available on our website following the next Regular Board meeting.
- The Board approved the 2018-19 Audited Financial Statement presented by Associate Superintendent Corporate Supports and Services Scott McFadyen and Director of Financial Services, Jason Krefting. Highlights include:
- Revenues for the year were $134,373,219. (+1.7%)
- Operating expenses for the year were $134,522,491. (+2.1%)
- The cost of educating 11,284 students was $$134,522,491.
- 76.5% ($102,952,496) of total funds (which includes Instruction, School Generated Funds, and System Instruction) was spent directly on students in the classroom.
- The single largest classroom expenditure was for staff salaries and benefits. The average teaching cost was $111,500 ($101,250 excluding Alberta Teachers Retirement Fund costs).
- Parkland’s annual operating deficit is $149,272 which relates to a deficit from operations of $185,286 and a surplus from School Generated Funds of $35,966. The total accumulated surplus from operations is $6,188,389, which includes $959,560 from School Generated Funds and $943,769 unrestricted.
- PSD’s capital reserves amount to $3,882,201.
- Capital projects initiated during 2017-2018 included Copperhaven School, Woodhaven Middle School Modernization, Infrastructure, Maintenance and Renewal projects, Stony Plain Central replacement school.
- Expenditures to transport students to and from school amounted to 8.8% of expenditures. ($11,806,545)
- The cost of maintaining and operating 23 sites amounted to 11.4% of expenditures. ($15,341,886).
- Independent auditor PricewaterhouseCoopers LLP, represented by Jeff Baker, delivered a clean audit opinion that the financial statements present fairly, in all material respects, the financial position of Parkland School Division No. 70 as at August 31, 2019 and the results of its operations, cash flows, change in net debt and remeasurement gains and losses for the year in accordance with Canadian public sector accounting standards.
- The Board approved the 2019-2020 Final Budget as presented by Associate Superintendent McFadyen and Director of Financial Services Jason Krefting. The final budget indicates an operating deficit of $2,956,713 offset by the use of operating reserves. Total revenue is $129,661,054 with expenses of $132,617,767. It is expected that the Division's operating reserves will have a balance of $2,272,115 or 1.71% as of August 31,2020. Revenues decreased $3,663,351 or 2.75% from last years budget and $4,712,165 or 3.5% from last year's actual revenue. Although the Division has budgeted for a reduction in operating expenses by $1,904,724 from the last year's actuals, there is still a significant shortfall in funding.
- The Board agreed to postponed the completion and presentation of the Seba Beach School viability study until January 14, 2020 in order for administration to complete its outreach to stakeholder groups.
- The Board changed the start time of the December 17, 2019 Regular Board Meeting back to a 9:30am start. Also the Regular Board Meeting on January 14, 2020 has been moved from the Centre For Education in Stony Plain to Seba Beach School. That meeting remains a 6pm start.
- The Board received as information the Early Learning Report as presented by acting Director, Early Learning, Brenda Stumbur.