Upper Canada District School Board reports $3.9M surplus

The Upper Canada District School Board has announced a $3.9-million operating surplus for the 2023-24 schoolhouse year, reflecting a stronger fiscal presumption than anticipated.

Executive superintendent of concern Jeremy Hobbs presented the audited fiscal statements during a Nov. 13 committee meeting, highlighting accrued compliance revenue, which roseate to $475.6 cardinal from the primitively projected $418 million. Expenses besides grew from $417.9 cardinal to $471.7 million, driven by higher enrolment and further authorities funding.

“Our steadfast fiscal presumption has been driven by prudent operational management,” Hobbs said. “In a clip of backing changes and expanding costs, being capable to not conscionable support but heighten programme offerings and opportunities is remarkable.”

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Despite the surplus, Hobbs cautioned that year-over-year surpluses are declining, signalling a tighter fiscal situation successful the years ahead.