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ALLOCATION OF RESOURCES 2009-10 FINANCIAL ESTIMATES Presentation to Board: May 5, 2009 Presented by: Susan LaRosa, Director of Education & Secretary of.

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Presentation on theme: "ALLOCATION OF RESOURCES 2009-10 FINANCIAL ESTIMATES Presentation to Board: May 5, 2009 Presented by: Susan LaRosa, Director of Education & Secretary of."— Presentation transcript:

1 ALLOCATION OF RESOURCES FINANCIAL ESTIMATES Presentation to Board: May 5, 2009 Presented by: Susan LaRosa, Director of Education & Secretary of the Board John. Sabo, Associate Director - Leading Services & Treasurer of the Board

2 OBJECTIVE To present a review of the status of the development of the Financial Estimates To distribute and present the Allocation of Resources Workbooks (binder) To present the Revenue Estimates

3 STATUS OF DEVELOPMENT OF Financial Estimates Allocation of Resources Design Team Currently developing Financial Estimates for presentation to the Board for review, discussion and approval Other related staff committees: Facilities Design Team Information Systems Leadership Team

4 STATUS OF DEVELOPMENT OF Financial Estimates Key Dates Design Team Meetings Various May to June Board/Committee Meetings Labour Relations – May 12(tentative) Accommodation – June 9 Board – May 26, June 16 & June 30

5 ALLOCATION OF RESOURCES WORKBOOK (binder) Materials are pre-loaded into binder (with exception of expenditure support materials) Expenditure support materials are under review with the Allocation of Resources Design Team Workbooks will allow orderly filing by section and will facilitate future discussions Updates will be provided over next few Board meetings up to date of final approval

6 ALLOCATION OF RESOURCES WORKBOOKS Workbook binders are pre-labeled with eight sections 1.Introduction 2.Reserve Analysis 3.Revenue Support Material 4.Expenditure Support Material 5.Final Budget Information 6.Supplementary Information Revised Estimates 8.Special Education (includes 70 slide PowerPoint) (includes 40 slide PowerPoint)

7 Financial Position Overview Past…….influences Current……..which influences Future

8 Financial Position Overview Past Financial Position at August 31, 2008 Current Operating Budget Revised Estimates Future Financial Estimates (Operating Budget) & Future Financial Estimates

9 REVENUE PROJECTIONS May 5, 2009

10 REVENUE PROJECTIONS Included under “Revenue Support Material” section of Allocation of Resources Workbook Revenue Projections presentation (40 slides) Revenue Estimates Module (47 page module) provides detailed analysis of revenue projections with associated notes, assumptions and detailed calculations.

11 ENROLMENT PROJECTIONS Revised Estimates Projections Increase (Decrease) % ELEMENTARY Students of the Board34, , % Visa56.00 TOTAL ELEMENTARY 34, , % SECONDARY Students of the Board17, , % Visa70.00 TOTAL SECONDARY 17, , % TOTAL51, , %

12 OPERATING REVENUE SUMMARY Revised Estimates Preliminary Revenue Increase (Decrease) $% Grants for Student Needs$ 451,265,313$ 469,486,798$ 18,221, Other Grants1,000,000500,000(500,000)-50.0 Other Revenue4,845,4364,313,000(532,436) Continuing Education3,940,7003,997,26456, TOTAL (Excluding Transfers from Reserves) $ 461,051,449$ 478,297,062$ 17,245, % Transfer from Reserves3,391,132tbd(3,391,132) TOTAL (Including Transfers from Reserves) $ 464,442,581$ 478,297,062$ 13,854, % REVENUE PROJECTIONS

13 Grants for Student Needs (GSN) ANALYSIS OF GRANT CHANGE-Operating Revised Estimates vs Projections Total Increase$ 18,221, %

14 Grants for Student Needs (GSN) ANALYSIS OF GRANT CHANGE-Operating Revised Estimates vs Projections Total Increase$ 18,221, % Resulting from: (estimated) Enhancements (PFA & Other misc)$ 15,685, %

15 Grants for Student Needs (GSN) ANALYSIS OF GRANT CHANGE-Operating Revised Estimates vs Projections Total Increase$ 18,221, % Resulting from: (estimated) Enhancements (PFA & Other misc)$ 15,685, % Constraints(2,466,000)(0.55)%

16 Grants for Student Needs (GSN) ANALYSIS OF GRANT CHANGE-Operating Revised Estimates vs Projections Total Increase$ 18,221, % Resulting from: (estimated) Enhancements (PFA & Other misc)$ 15,685, % Constraints(2,466,000)(0.55)% Net Funding increases (before growth)$ 13,219, %

17 Grants for Student Needs (GSN) ANALYSIS OF GRANT CHANGE-Operating Revised Estimates vs Projections Total Increase$ 18,221, % Resulting from: (estimated) Enhancements (PFA & Other misc)$ 15,685, % Constraints(2,466,000)(0.55)% Net Funding increases (before growth)$ 13,219, % Growth increase5,002, %

18 Grants for Student Needs (GSN) ANALYSIS OF GRANT CHANGE-Operating Revised Estimates vs Projections Total Increase$ 18,221, % Resulting from: (estimated) Enhancements (PFA & Other misc)$ 15,685, % Constraints(2,466,000)(0.55)% Net Funding increases (before growth)$ 13,219, % Growth increase5,002, % Total increase$ 18,221, %

19 Grants for Student Needs (GSN) HIGHLIGHTS OF GRANT CHANGES  Detailed in Ministry memorandum and staff reports under Supplementary Information section  Main increases in grant are in support of Provincial Framework Agreement ( PFA) - Previously referred to as Provincial Discussion Table (PDT)  NOTE: As per Ministry B4 memorandum “a board must fulfill the conditions of the PFA’s to benefit from the enhancement described in the PFA’s”  Other minor increases in support of School Operations for energy and other costs  Introduction of new “Constraint” measure concepts

20 Grants for Student Needs (GSN) HIGHLIGHTS OF GRANT CHANGES (cont’d)  CONSTRAINT MEASURES $ 2.46 million decrease  Pupil Foundation Grant  Textbooks funding reduced $ 700,000  Classroom computers funding reduced $ 700,000  Staff Development funding eliminated $ 600,000  Student Transportation – 1% route reductions targeted $ 166,000  Special Education and Learning Opportunities (staff development component) $ 300,000

21 Grants for Student Needs (GSN) HIGHLIGHTS OF GRANT CHANGES (cont’d)  FUTURE CONSTRAINT MEASURES  Student Transportation  50% factor applied to growth  School Operations & Renewal Top-up  [2010/11 -2%] [2011/12 – 5%]  Excludes new schools for first five years  Board Administration 1%

22 Grants for Student Needs (GSN) HIGHLIGHTS OF OTHER GRANT CHANGES CAPITAL  New Energy Efficient Schools Funding Announcement (2009:B5 Memorandum)  No other known changes at this time (other than communicated re NPP/Growth Schools etc.)

23 TRANSFERS FROM RESERVES  Preliminary Revenue Estimates DO NOT INCLUDE any provision for Transfers from Reserves  Reserves are NOT a source of revenue  Amount of utilization will be dependent upon “Budget Balancing Process” as per Board motion/direction

24 Operating Budget RESERVE POSTION as at August 31, 2008 Worker’s Safety Insurance Board$ 1,666,303 Employee Benefits Rate Stabilization537,288 Information Technology Initiatives195,272 Retirement Gratuities1,801,133 Transportation323,570 Total “Unprotected”$ 4,523,566 Alternate Accommodation Reserve$ 906,829 G.S.B.800,776 School Council Reserve77,171 Scholarship Reserve10,492 Total “Protected”$ 1,795,268 TOTAL$ 6,318,834 Note: Protected vs. Unprotected determined by Board motion

25 RESERVE POSITION   Balance as at August 31, 2008$ 6,318,834 –Less protected1,795,268 –Available amount$ 4,523,566  Available amount will be required to fund: – Year-end as per Revised Estimates $ 3.39 million – Budget TBD

26 MINISTRY “FINANCIAL” REQUIREMENTS  Estimates to be filed by June 30, 2009 (or request an extension)  Compliance requirements  NO deficit  Envelopes i.e. admin & gov., spec. ed, accommodation  Key staffing e.g. class size

27 REPORTING & ACCOUNTABILITY  Ministry controls re non-compliance  Withholding grants  Requiring boards to file deficit management plans  “Directing” boards to take measures to become compliant

28 NEXT STEPS Budget review/presentations – May & June Internal Staff Review – Design teams Board Review – Committee and Board Public Input/Budget Review Scheduled meetings May 26, 2009 & June 16, 2009 Final budget review/presentation (including finalized Revenue projections) targeted for June 16, 2009 Final budget approval June 30, 2009

29 QUESTIONS ?


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