Tim Ellis says the Trillium Lakelands District School Board’s (TLDSB) $8 million surplus will allow for continued investments in student achievement and well-being.
The Superintendent of Business Services shared results from the audited financial statements for the 2023-2024 school year with the board at their meeting on Tuesday (Nov. 26).
The results showed a higher surplus than the previous year because of “larger revenue, higher than estimated enrolment numbers, and additional Priority and Partnership Funding (PPF).”
Ellis says the healthy financial standing is largely due to thoughtful operational management.
“With surplus funds, the senior administration team will build a list of enhancements they believe can be made to services TLDSB provides,” said Ellis. “This list will be taken to the Finance and Administration Committee later this year for trustees to review.”
Wes Hahn, director of education, says the TLDSB is “fortunate to have trustees who support the strategic direction of the board, and this includes a healthy financial standing that will positively impact TLDSB students and staff.”
Officials say the original budget submitted to the Ministry of Education was approximately $246 million, which was later revised to $250 million. However, they say the actual expenses were under $275 million.
They add the final revenue amounts from the Ministry were not released until fall 2024 due to funding changes from Bill 124 and recent collective agreements.
