Monday, 03 December 2012 07:38

PRSD ends up in the black again after audit complete

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For the second year in a row, trustees with the Prairie Rose School Division (PRSD) were surprised to see their books turn from red to black.

At a special meeting of the board on Nov. 27, trustees were presented the audited financial statements showing the 2011-12 year, ending Aug. 31 recorded a $148,687 surplus, as opposed to the $422,651 deficit that had been budgeted for that year.
“It’s a positive that we ended the year in a surplus position. It’s not a lot, but it’s certainly a better position than we had projected to be in,” said Patricia Cocks, secretary-treasurer.
One reason for the unexpected surplus, is that the area of transportation saw an increase of almost $300,000 over what was budgeted. That came about due to some higher than anticipated revenues of about $140,000 and lower expenditures in the same amount, says Cocks.
There was a decrease in the number of days the schools were open, which would lead to fewer bussing days and lowered costs.
“We’re already into the operating year before we know where the costs are at with transportation,” explained Cocks, adding it’s better to budget conservatively.
The schools also did not end up spending as much of their reserves as it was first thought they would. Some schools did spend their budgeted amounts, while others did not, leading to a savings on paper.
For 2011/12, PRSD posted total assets of $26.6 million and total liabilities of about $17.7 million. Revenues totalled $50.1 million ($50,185,452), an increase of about $890 million from what was budgeted. Expenses totalled $50 million ($50,036,765) leaving a surplus of $148,687.
School generated funds is now reflected differently in an audit. While it used to be reported as “school generated funds,” it now has been broken into several areas including fundraising, fees, gifts, donations and grants. In the 2011/12 school year, $881,378 was fundraised by schools and fees accounted for $333,436. In total, $1,583,495 was generated by the schools through the various means.
Part of the audit is reporting remuneration and monetary incentives for the elected officials and superintendent of schools. That information follows:
• Chair Marian Peers — Remuneration $21,045, Benefits $1,508, Expenses $10,362;
• Trustee Stuart Angle — Remuneration $22,082, Benefits $1,726, Expenses $8,577;
• Trustee Kathy Cooper — Remuneration $20,428, Benefits $1,671, Expenses $13,008;
• Trustee Graeme Dennis — Remuneration $13,680, Benefits $1,506, Expenses $1,730;
• Trustee Arnold Frank — Remuneration $22,951, Benefits $1,060, Expenses $9,414;
• Trustee Paulette Heller — Remuneration $18,275, Benefits $1,600, Expenses $6,145;
• Trustee Georgine Westgard — Remuneration $18,317, Benefits $1,602, Expenses $6,178;
• Trustee Bob Wickens — Remuneration $20,876, Benefits $1,682, Expenses $6,178.
The total remuneration for trustees was $157,654, benefits totalled $12,355 and expenses totalled $62,777.
The superintendent’s position was listed which had remuneration totalling $148,289, benefits of $37,325 and expenses of $10,337.
More than $21 million ($21,013,162) was spent on remuneration for certificated teachers and just over $4.4 million on their benefits.

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Rose Sanchez

Assistant Managing Editor

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