Catholic Board Approves Balanced Budget Financial Plan For 2021-22

Wednesday June 16th, 2021

Posted at 7:36am

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The Catholic School Board has balanced its books despite the significant impact that the COVID-19 pandemic has had on the delivery of education.

The budget for the 202122 school year  includes $273.2 million in expenditures.

“As we look ahead to the next school year, the pandemic is still creating a fair bit of uncertainty,” said Board Chair Fulvio Valentinis, “however administration has prepared a very prudent financial planwhich still makes important investments to support our most vulnerable students while maintaining the stability of our excellent programs.”

The budget does include an inyear deficit of $2.3 million which will be funded from the board’s accumulated surplus. Last year the Ontario Ministry of Education made an exception to allow school boards to access their surplus in an amount that equalled up to two per cent of their operating allocation if deficits were incurred by COVIDrelated expenses. Previously, that limit was one per cent.

The $2.3 million the board will use is slightly less than the $2.4 million maximum the Ministry would allow it to use.

It’s our responsibility to use all funds available to ensure that we continue to meet the needs and expectations of our students and their families,” said Director of Education Terry Lyons. “This budget allows for the safe operation of our schools, and provides the best possible learning opportunities for our students. It devotes funds to our faithbased Catholic curriculum programs, maintains services, budgets for contingencies, and allows continued progress towards system growth and the achievement of our strategic objectives.”

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