The New Westminster school district is in better financial shape than expected for 2022/23.
Trustees adopted the district’s amended annual budget at the Feb. 21 school board meeting. The new budget shows an anticipated deficit of $564,000 this school year — considerably better than the $1.2 million the board had expected when it passed its preliminary budget in the spring.
In part, the rosier-than-expected financial picture comes from enrolment growth. With more students than anticipated enrolled in September 2022, the school district got $440,000 more than projected in its regular operating grant from the B.C. Ministry of Education (more than $70.6 million versus the $70.2 million it had originally budgeted for).
The district also saw higher revenues from a couple of other sources.
It brought in more money from interest on short-term investments thanks to the rise in interest rates, increasing its coffers by $215,000.
Also helping was a $310,000 bump in revenues from rental fees as community groups returned to using school facilities.
“Now that the pandemic restrictions have been lifted and we see much more use of our facilities, we are seeing a lift in rentals across the district,” said secretary-treasurer Bettina Ketcham.
International education hasn't completely rebounded from COVID
Not all the numbers have turned out in the district’s favour, though.
One area that’s taken a hit is international education, where the district had anticipated bringing in more than $3 million in tuition fees. Instead, the amended budget shows it’s on track to bring in about $178,000 less than expected.
Ketcham said the international education program has “rebounded quite substantially” from the effects of COVID but still hasn’t returned to previous levels. Now, she said, the program is taking a hit not because of COVID-related restrictions but because of challenges in finding homestay families to host students — a problem she said is also being experienced by other districts.
In all, School District 40’s amended budget shows $3.8 million more than expected on the revenue side, balancing off $3.2 million in higher expenses.
Board chair Gurveen Dhaliwal said it’s good to see how much the district has been able to reduce its structural deficit, which it offsets with money from its surplus reserves.
“I think that’s a positive way to enter into the new budget as well as really plan for how we’re investing in the classrooms,” she said.
The district is now planning its budget for 2023/24. Public surveys and budget consultations with parents, staff, students and community members will come in April.
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