The Rocky View School Division (RVS) is growing at a tremendous rate but, according to the 2017 / 18 Audited Financial Statement that was approved by Board Trustees at yesterday's (November 29) School Board meeting, the jurisdiction remains in a relatively strong financial position.

Karyn Golem, the Director of Finance for RVS discussed the financial picture.  She says, “Revenue for the 2017/18 school year rose to $277 million – up by 7.6 percent over the previous year.  The bulk of this increase was a direct result of increased enrolments of 1,073 new students and funds received through the government’s new Classroom Improvement Fund.”

According to Golem, of the total revenue, 76.55 percent was spent on instruction, 14.07 percent on Plant Operations and Maintenance, 6.41 percent on Transportation and 2.98 percent on Board Governance and System Administration - a slight increase from the previous year’s total of 2.85 percent, but well below the government’s ceiling of 3.6 percent.

The largest expenditure was for salaries and benefits, totalling almost $183.6 million.

“The number of full-time equivalent teachers increased by 88 from the prior year to a total of 1,261, while instructional support staff levels increased by 53 (full-time equivalent) for a total of 685,” said Golem. “The bulk of this staff was hired to accommodate increased enrolments in schools and to improve the student experience through the Classroom Improvement Funds provided by the province.

”In the areas of Transportation and Plant, Operation and Maintenance, inflationary increases in contracted services, fuel prices and utility costs continue to add pressure to the jurisdiction’s operations without corresponding matching grant increases.

By year’s end, the jurisdiction is reporting a surplus of $3.2 million which is attributed to a $600,000 operational surplus and the recognition of $2.6 million from reserves to capital to purchase land for a future high school in the City of Airdrie.

RVS notes that it has now exhausted its reserves targeted for transportation to cover funding shortfalls.

School Board Chair Todd Brand says, “Overall the year ended with the Board in a strong financial position.  Given we are operating in an environment characterized by increased uncertainty, our staff members are to be applauded for their fiscal management of finite resources, while providing outstanding educational services."

During the meeting Golem also presented the revised 2018 / 19 budget.  It shows a 3.7 percent growth in enrolment and corresponding expenses to address the educational needs of students. 

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