WEYBURN – The audited financial statements for the 2020-21 school year were nearly balanced for the Holy Family Roman Catholic Separate School Division, trustees learned at their monthly board meeting.
The budget was initially set with an 11-per-cent deficit, but the actual results showed a much smaller one-per-cent deficit.
A large part of the improvement in finances were the Education Emergency Pandemic support funds saved for the 2021-22 school year, said chief financial officer Lisa Wonsiak.
Holy Family received Education Emergency Pandemic support funding of $1.57 million, of which 71 per cent was used to support pandemic-related spending in the 2020-21 school year. The balance was saved for the current school year.
The school division had budgeted revenues of $14,178,606 for 2020-21, but the actual revenues came in at $16,100,074.
The expenses had been budgeted at $15,994,871, but the actual expenses were $16,725,253, leaving a deficit of $625,179.
On the revenue side, property taxes and related revenues came in at $6,347,765, much higher than the $5,078,414 budgeted for, and grants were also higher, at $9,269,404, compared to the budgeted amount of $8,401,911.
School-generated funds were down significantly, with only $100,504 compared to the $350,000 budgeted for, and tuition and related fees were double the budgeted amount, coming in at $10,816 compared to $5,037 in the budget.
Three-quarters of the expenses went directly to staffing in the Holy Family School Division.
Expenses for the school division totaled $16,725,253, and of this amount, instructional expenses totaled $11,920,721 (including teachers salaries and benefits, program support salaries and benefits, aids, supplies, communications, travel and professional development), and administration expenses totaled $1,073,155.
A grant overpayment recorded as revenue has been restricted in surplus for revenue that belongs to the next school year.