Bracebridge, ON – At the November 26 Trillium Lakelands District School Board (TLDSB) Public Meeting of the Board, Superintendent of Business Services, Tim Ellis, shared results from the audited financial statements for the 2023-2024 school year.
Ellis noted that TLDSB continues to have a healthy financial standing with a surplus, which puts the Board in a good position to make positive impacts on student achievement and well-being. Factors that contribute to a surplus include an in-year revenue that is larger than the expenditures, higher than estimated enrolment numbers, and additional Priority and Partnership Funding (PPF). The surplus from the 2023-2024 school year is up $8 million from the previous year.
“This healthy financial standing is largely due to thoughtful operational management. With surplus funds, the senior administration team will build a list of enhancements they believe can be made to services TLDSB provides,” said Ellis. “This list will be taken to the Finance and Administration Committee later this year for trustees to review.”
“TLDSB is fortunate to have trustees who support the strategic direction of the board and this includes a healthy financial standing that will positively impact TLDSB students and staff,” says Wes Hahn, director of education.
The original budgeted expense amount for 2023-2024 was approximately $246 million with a revised budgeted amount of $250 million, which was submitted to the Ministry of Education in December 2023. The actual expenses were just under $275 million. Final revenue amounts from the Ministry were not released until the fall of 2024, due to funding changes as a result of Bill 124 and collective agreements that were settled within the 2023-2024 school year.
While TLDSB is proud to have a surplus budget once again to support the system in advancing student achievement and well-being, it is known that as funds are accessed there is no assurance that the surplus will remain and it’s expected to decline. Additionally, the financial environment is anticipated to change in the years to come, which will have an impact on budgeting and the overall financial standing.
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Carolynne Bull
Manager of Communications Services
Work: 1-888-526-5552 extension 21252
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