During the Trillium Lakelands District School Board (TLDSB) Public Meeting of the Board on November 25, Trustee Tim McAlpine presented the results of the year-end audited financial statements for the 2024-2025 school year, which were initially reviewed at the November 12 Finance and Administration Committee Meeting. TLDSB concluded the fiscal year with a healthy financial standing, and has been able to direct $2 million toward an internally restricted operating contingency reserve. This allocation resulted in an increase to the operating accumulated surplus of $2.2 million.
Key factors that contributed to the surplus include:
- Higher student enrolment compared to the enrolment number used to create the budget
- Greater-than-budgeted interest income
- Higher recoveries in transportation costs
- Increase in administration grant funding
“Finishing the 2024-2025 school year in a strong financial situation places the Board in a favourable position for future endeavours,” commented TLDSB director of education, Wes Hahn. “The statements attest to the sound financial stewardship demonstrated by staff, and the continued responsibility of public funds for furthering student achievement.”
Trustees moved to approve the 2024-2025 audited statements, and further approved the allocation of $2 million of surplus funds for an operating contingency reserve. The contingency reserve is the Board’s strategy to address unforeseen, non-recurring operational, or emergency expenditures.
“The establishment of an operating contingency reserve represents a prudent and responsible financial measure intended to enhance the Board’s financial stability and resilience,” shared superintendent of Business Services, Nicole Britton. “Its core objective is to provide funding for unanticipated financial pressures that cannot be accommodated within the annual operating budget, thus ensuring the continuity of essential services and student-focused initiatives.”
