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Tuesday, 26 June 2012 08:16

Chinook School Division achieves balanced budget

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Chinook achieved a balanced budget for the 2012-2013 school year, within the new provincial funding model. The planned expenditures allow Chinook to proceed with key strategic priorities in the areas of Math and Literacy, and will provide resources to initiate work on a major technological infrastructure renewal.

 

The work on the École Centennial joint school project with Holy Trinity School Division is also expected to commence early in the fall of 2012.
After a vigorous process over the last few months, Chair Randy Beler is pleased that they were able to pass the budget today, “We are proud that we have been able to achieve a balanced budget within the new formula that has been laid out by the Ministry of Education. Our Board’s top concern is the well-being and education of children, and we feel Chinook’s resources are being directed towards the ultimate goal of learning for all students.”
The Chinook budget provides funding for the new Math Momentum initiative that will be in its second year, as well as funding to maintain Balanced Literacy. Funding for these initiatives is integral for student success to remain a top priority for Chinook. “In the fall of 2011, we identified our target to have 25% more students meeting or exceeding Chinook expectations in math by June 2014,” explains Director of Education Liam Choo-Foo, “Aligning our funding to allow the flow of essential resources in numeracy, we will continue to see math coaches and lead teachers working with our schools towards the math goal. We experienced great success in Balanced Literacy with a similar model.”
Total School Division revenues are expected to be approximately $86.6m, while it is anticipated that expenditures will come in at $85.36m. This results in a surplus of $3.24m. However, approximately $2.86m of that surplus is non-cash to be used in funding future amortization on capital assets. $380k is the projected cash surplus, which represents 0.44% of the total budget.

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