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Greater Essex County District School Board
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Board Declares Budget Surplus

Trustees sitting at desks during public board meeting.jpgAt the GECDSB Board of Trustees November public meeting, administration shared that the Board had realized a $6.2 million dollar budget surplus in the 2016-17 school year. An increase in enrolment and the elimination of some outstanding financial liabilities contributed to the turn-around from what was anticipated to be a $1.2 million deficit over the year.

Chair of the Board Kim McKinley was delighted with the news, "As a Board we have made some tough decisions over the last several years that have supported our Mission statement:  Confident Learners, Engaged Communities and Ethical Stewardship. Our Board's commitment to Ethical Stewardship has helped guide excellent decision making from a fiscal perspective and as a Board we are thrilled to see that these tough decisions are making a difference in reducing our debt.  We expect to eliminate our entire Capital Deficit within the next two years. As always I am GECDSB Proud as we continue Building Tomorrow Together!"

The surplus is being used to pay down a portion of the Board's existing capital debt, which will further improve the overall financial situation.