Impact of Education Funding 2008/2009 Budget

Budgeted Expenditure Increases To bring forward the 2007/2008 budget on a go forward basis ( Status Quo),requires an increase 5.04% ( $6,745,707) Includes: All employees in 07/08 approved budget Includes : All known negotiated and/or legislated economic increases Includes: 35% increase for heating and bus Fuel Includes : Election expenses Includes: 2.4 teacher FTEs added by Bd in Oct 07 Includes: 2 Teacher FTEs missed in count 07/08

Expenditure Increases Con’t Includes : Increase hours for confidential employees ( 6.5 Hrs to 7.0Hrs) Includes: Expansion of targeted initiatives (Offset by targeted funding) Includes: Provision for CUPE Framework($2,176,620). Funded separately, no impact on bottom line. Includes: All other non salaried expenditures as contained in the 07/08 Budget Includes: Reduction of mandated teacher cuts at a ratio of 26 to FTEs less… Plus add backs forgrade 4 cap size (4 FTEs) and early Primary (6 FTEs)a net reduction of 12.

Budgeted Revenue Increases Total funding increased year over year by 3.10% ($4,157,420). Formula Funding- Cost pressures recognized by DOE, includes ( CBVRSB):

Summary 2008/2009 Status Quo Budget Increase in Ed Cost. $6,745,707 Increase in Ed. Funding $4,157,420 Shortfall $2,588,287