Last year was a good one for Christ the Teacher Catholic Schools (CTTCS) accountants.
"We're in a strong cash position," said Wilf Hotsko, the division's secretary treasurer. "Our school division is fiscally healthy."
Hotsko presented the ParkerQuine Auditor's Report and Financial Statement for fiscal 2012 to the school board at its annual general meeting January 11. It included a surplus of $510,000, helped in large part by a bequest of $235,000 from the estate of Josephine Gulak.
At the time of her death in May 2011, Gulak was a resident of Rhein and a faithful member of St. Gerard's Catholic Church. The money has been earmarked, per her instructions, specifically for the benefit of students at Sacred Heart High School, $30,000 for scholarships and $205,000 for the purchase of items not funded under the CTTCS operational budget.
The school board will hand out two scholarships of $300 each per year.
Hotsko said the bequest came as a very welcome surprise.
"During my career in education, I have really never experienced that, so that's a really nice windfall for us."
The 2012 budget had projected a $395,000 deficit, but Hotsko said in addition to Gulak's donation, the division received almost $1 million more in grants than was budgeted and were able to save money in some functional areas such as governance and transportation.
The current surplus brings the CTTCS accumulated surplus to more than $21 million.
