SD 60 releases its final Operating Financial Report to the end of November

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FORT ST. JOHN, B.C. – School District 60 released its Operating Financial Report from July 1st to November 31st at the board meeting on Monday.

The District was below its annual budget in every area of the operating revenue except for the offshore tuition which was $57,261 over. The operating revenue takes into account costs for rentals, Ministry of Education Grants, and interest to name a few.  In total, the Revenue was $21,311,579 for the nearly five-month period or 34.3 percent of the annual budget for the entire year which is set at $62,128,891.

“Three months into the school year there should be a 30 percent of the budget used,” said Secretary-Treasurer Brenda Hooker.

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The Operating Expenses saw $432,772 in net revenue generated due to increased enrollment and teaching salaries being down 2.0 percent because not every position is filled at this point. The expenses take into account the costs of teachers, principals and vice principals and substitutes to name a few. The District is still trying to hire staff for some positions which will lead to larger annual expenses down the road.

Hooker added, “I will be able to better predict how the budget will look come January and February which will show revenue and expenses projected out to June 2018.”

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