Full details on presentations, reports, and discussions can be found in the agenda or reviewed in the recorded broadcast. Video segments are linked in the subhead for each item below.
October 27, 2022 – Trustees with the Upper Canada District School Board (UCDSB) met on Wednesday, Oct. 26, 2022. Some of the items discussed in the public session are as follows.
Executive Superintendent of Business Services and Treasurer Jeremy Hobbs presented to the Board the first financial forecast for the 2022-2023 school year. The forecast is based on to-date funding and enrolment information.
This report projects revenues of $406.8M and expenses of $406M. For compliance purposes, the projected in-year surplus is $800,000. This forecast includes supports identified in the original budget at the same or enhanced level. Some of these are learning recovery, special education, indigenous education, and mental health supports.
On June 1, 2022, Trustees approved the Board’s 2022-2023 Budget, which projected revenues of $399M and expenses of $398.8M for compliance purposes, resulting in a projected year-end surplus of $200,000 for compliance purposes.
Hobbs noted that the largest driver of revenue and expense changes between the approved budget and the first financial forecast is an enrolment increase of approximately 500 students across the system. These updated figures also include additional in-year revenues of $200,000 from the Priorities and Partnerships Funds that were not yet known at the time the budget was approved.
Hobbs outlined that several uncertainties have the potential to impact the district’s 2022-2023 financials, including the current economic climate with inflationary pressures, rising interest rates, labour and supply chain shortages, and future COVID-19 waves and variants and associated funding.
The second financial forecast, with revised estimates, will be presented in January 2023.
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April Scott-Clarke
Manager of Communications
Upper Canada District School Board
[email protected]