The New Westminster school district is projecting operating budget surpluses for the next three years.
School District 40 trustees adopted the preliminary 2023-24 operating budget at a special board meeting on Tuesday, June 6. It outlines a surplus of $643,182, followed by surpluses of $489,000 in 2024-24 and $488,000 in 2025-26, according to the district’s three-year financial plan.
These are base budget surpluses that will then allow the district to address new ongoing priorities each year, secretary-treasurer Bettina Ketcham noted.
The district saw a $9.17-million increase in its operating grants from the B.C. Ministry of Education: $2.56 million due to enrolment growth, and $6.61 million from an increase in the ministry’s per-student funding rates.
In all, next year’s operating budget calls for revenue of $86.3 million and expenses of nearly $84.9 million, the vast majority (92 per cent) of which goes towards salaries and benefits.
The provincial grants will cover wage increases for unionized staff, management, and principals and vice-principals.
The district just got word in late May that principal and vice-principal wage increases would be funded for 2023-24. With that news, SD40 was able to add more new spending into the 2023-24 budget than it had originally anticipated when the board heard recommendations from superintendent Karim Hachlaf in May.
With the extra injection of funding, the district will add five more priority teachers on call and five more priority education assistants to help cover off absences in the district — up from the three of each it had originally included in its budget plans.
It’s also dedicating more money to supervision at New Westminster Secondary School and EA lunch relief and supervision at six schools.
Another big chunk of money — $150,000 — is now being set aside as capital savings to help the district build up a capital fund for the purchase of land.
Other previously approved new priorities for 2023-24 include one more counsellor in the district, a second principal at New Westminster Secondary School, and privacy and safety upgrades at NWSS.
Ketcham said the district is “truly excited” about the budget, noting it was able to incorporate many of the priorities the district heard from its stakeholders during this year’s budget feedback.
She said it puts the district into a “steady holding pattern” where it won’t need to be looking for cuts.
Ketcham pointed out the district has been able to keep its surplus reserves above the $2-million mark, which is the target it sets as its “rainy day fund.”
Trustees unanimously approved the preliminary budget.
