School Board posts $2.7 million surplus

At the Trillium Lakelands District School Board (TLDSB) Regular Meeting of the Board, that took place on November 23, Superintendent of Business Services, Tim Ellis, presented trustees with the Financial Statements for the 2020-2021 school year.

Ellis presented a notable highlight of a surplus of approximately 1 percent of revenues, equallying $2.7 million. This is the Board’s first surplus in a number of years.

“Surplus in the Board’s finances allow for flexibility in upcoming years,” said Ellis. “Surpluses are typically held and earmarked for priority use in other budget years. The Board has a Surplus Management Plan to support the management and spending of these funds.”

“We are moving in the right direction,” adds Director of Education, Wes Hahn. “TLDSB staff work hard to balance the budget and continually strive for ways to support the future of our learning organization and this is certainly one.”

Over the past 18+ months of the COVID-19 pandemic, school boards in Ontario received funding allocations from the Province, which were set aside for COVID-19 initiatives to enhance and support safe, healthy environments for all students and staff. This funding has been one of the reasons TLDSB has steered its way out of a deficit.

For more information, visit the Board’s Financial Statement web page.