The Central Okanagan School District (SD23) has found a way to cut nearly $4M from its 2014-2015 operating budget.
The district was faced with the shortfall as a result of expenses increasing at a faster rate than the available revenue sources.
In order to produce a balanced budget as required by the Ministry of Education, the board Wednesday approved 10 recommendations presented earlier in the month by district Superintendent Hugh Gloster.
- $1.3M To be removed from the per pupil funding level to schools
- $250,000 - Technology budget
- $50,000 - Superintendent, Assistant Superintendent, Directors discretionary budgets
- $50,000 - Hollywood Road/Learning Centre
- $120,000 - Operations department
- $500,000 - Resource allocations to schools
- $180,000 - Budget increases for inflation
- $400,000 - Apply ministry holdback distribution from spring of 2014 to budget
- $1.2M - Apply 50% of projected ministry holdback to budget
- $23,000 - Income generated through a 5% increase in rental fees to user groups
The $1.3M per pupil reduction means the district will cut funding to schools by about $70 per student.
"The end result is that all schools will share in the challenge to operate with less money," Gloster stated in his original report to the board.
The board must finalize its budget before the end of June.