At 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.