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Friday, 09 December 2016 08:00

Audited financial statements show PRSD deficit decreased slightly in the 2015-16 school year

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Prairie Rose School Division (PRSD) was able to post a slightly smaller deficit in the 2015-16 school, by spending less on utilities than it budgeted as well as increased revenues of about $200,000 that was unanticipated.

The audited financial statements were presented to the board of trustees at a special Nov. 29 meeting.
The school division had budgeted for a deficit of $605,055 for the past school year, but that came in lower than expected by $117,375.
For the year ending Aug. 31, revenues totalled $50.7 million ($50,761,321). Expenses totalled $51.2 million ($51,249,001), which left a deficit of $487,680.
“A clean audit is an important thing for a superintendent,” said Brian Andjelic at the meeting.
He thanked administrative staff for the work that was done to ensure a clean audit and especially to tidy up the area of school-generated funds which had been a concern of auditors in previous years.
“The work done to get to this point ... it’s no small effort,” he added. “I think people forget that we have 37 sites, to put that together and bring it together from a division perspective — it’s no small task.
“We have a strong financial team ... (that has) done great work.”
 Broken into areas, the plant operations and maintenance section showed the largest deficit at $344,434. In the area of transportation, the deficit was $340,101. Spending on board system and administration broke even.
Savings in utilities such as natural gas, and water/sewer come in lower than expected, as well as some unexpected income of about $200,000 helped lower the overall deficit for the division.
The deficit will be covered by transferring money from reserves.
As of the audit year ended Aug. 31, there is $439,681 in internally-restricted capital reserves. Other reserves are available including operating and the investment in tangible capital assets, leading to an accumulated surplus for PRSD of $8.2 million, down from $8.7.
“Although the operating surplus is in a declining position, it’s still a strong position,” said Candice Hintz, assistant secretary-treasurer.
The way school generated funds is reported changed with this audit so that it is done the same way at all school divisions across the province.
In 2015-16, school-generated funds totalled $1.061 million, a decrease over the previous year.
Also of note, fees, which includes transportation, instructional material and supplies, extracurricular and field trips totalled $621,505; $144,822 was allocated as gifts and donations; $274,264 as fundraising; and $935,739 as other sales and services.
Part of the audit is reporting remuneration and monetary incentives for the elected officials and superintendent of schools. That information follows:
• Chair Stuart Angle — Remuneration $24,504, Benefits $2,882, Expenses $13,998;
• Trustee Kathy Cooper — Remuneration $19,873 Benefits $2,681, Expenses $11,473;
• Trustee Graeme Dennis — Remuneration $14,705, Benefits $2,557, Expenses $3,600;
• Trustee Christie Dick — Remuneration $21,240, Benefits $2,793, Expenses $19,395;
• Trustee Arnold Frank — Remuneration $23,084, Benefits $2,169, Expenses $11,049;
• Trustee Cathy Hogg — Remuneration $22,115, Benefits $2,813, Expenses $13,665;
• Trustee Bob Wickens — Remuneration $21,532, Benefits $2,736, Expenses $7,857.
Of note, expenses for Trustee Christie Dick increased over the previous year partly because of increased conference attendance, but also, she is the only trustee representing the northern portion of the division. In the past, two trustees have represented the large area, and often car pooled, saving on expenses.
The total remuneration for trustees was $147,053, benefits totalled $18,631 and expenses totalled $81,037.
The superintendent position listed had remuneration totalling $173,231, benefits of $35,426 and expenses of $14,112.
About $21 million ($21,086,213) was spent on remuneration for certificated teachers and $4.8 million on their benefits.

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Rose Sanchez

Assistant Managing Editor