Regular Board Meeting Highlights - November 27, 2018
November 27, 2018 - The Board of Trustees is pleased to share with all education stakeholders the highlights of our recent Board meeting held on Tuesday, November 27, 2018. The adopted minutes will be available on our website following the next Regular Board meeting.
- The Board approved the 2017-18 Audited Financial Statement presented by Associate Superintendent Corporate Supports and Services Scott McFadyen and Director of Financial Services, Jason Krefting. Highlights include:
- Revenues for the year were $132,134,779. (+3.0%)
- Operating expenses for the year were $131,814,005. (+3.5%)
- The cost of educating 11,123 students was $131,814,005.
- 77.4% ($102,038,891) of total funds (which includes Instruction, School Generated Funds, and System Instruction) was spent directly on students in the classroom.
- The single largest classroom expenditure was for staff salaries and benefits. The average teaching cost was $112,471 ($101,010 excluding Alberta Teachers Retirement Fund costs). This accounted for 69.9% of all instructional expenses.
- Parkland’s annual operating surplus is $320,774 which relates to a surplus from operations of $309,741 and a surplus from School Generated Funds of $11,033. The total accumulated surplus from operations is $6,345,494, which includes $923,565 from School Generated Funds and $943,768 unrestricted.
- PSD’s capital reserves amount to $3.57 million.
- Capital projects initiated during 2017-2018 included Copperhaven School, Infrastructure, Maintenance and Renewal projects, Centre for Education renovations, Woodhaven modernization and Duffield modulars.
- Expenditures to transport students to and from school amounted to 8.4% of expenditures. ($11,041,855)
- The cost of maintaining and operating 23 sites amounted to 10.8% of expenditures. ($14,179,434).
- Independent auditor PricewaterhouseCoopers LLP, represented by Jeff Baker, delivered a clean audit opinion that the financial statements present fairly, in all material respects, the financial position of Parkland School Division No. 70 as at August 31, 2018 and the results of its operations, cash flows, change in net debt and remeasurement gains and losses for the year in accordance with Canadian public sector accounting standards.
- The Board approved the 2018-2019 Final Budget as presented by Associate Superintendent McFadyen and Director of Financial Services Jason Krefting. The final budget indicates an operating deficit of $724,408 offset by the use of operating reserves. Total revenue is $133,324,405 with expenses of $134,048,813. The shortfall is offset with the use of reserves of $724,408. Transportation costs accounted for $576.5K of the overall deficit. It is expected that district reserves will have a budgeted balance of $4,354,175 as of August 31, 2019.
- The Board approved Parkland School Division’s 2017-2018 Annual Education Results Report (AERR) as presented by Associate Superintendent Scott Johnston. The AERR for 2017-2018 addresses the previous year's achievement on each of the Alberta Education goals and its success in improving results using the strategies developed by education stakeholders. The accountability results guide the decisions and focus areas for the current 2018-2019 Education Plan and inform the assurance process by providing quantitative data to qualitative measures.
- The Board directed Parkland School Division administration to conduct a demographic and facility utilization review of schools within the City of Spruce Grove, as well as the west end of Parkland School Division, in order to facilitate long-term planning.
- The Board directed Parkland School Division administration to determine the impact of four different Funding Scenarios to assist in long-term planning.
- The Board received as information the Engaging Students Through School Attendance report as presented by Associate Superintendent, Dr. Dianne McConnell.
Next Regular Board Meeting will be held on December 11, 2018 at the Centre for Education at 9:30am.