Budget time for Waterloo Region school boards
Public board has completed task while Catholic board begins process this week
It is budget month for school boards in Waterloo Region.
As the Waterloo Catholic District School Board looks to pass its budget for the upcoming school year this week, its public counterpart has already completed the tough challenge of balancing the books during a time of increased prices and changing enrolment patterns.
The Waterloo Region District School Board officially passed its budget last week, approving an operating revenue of $893 million and a capital budget of $94 million.
This compares to an operating budget of $848 million for the 2023-24 school year, and a capital budget of about $96 million.
“It takes many months of hard work by the dedicated staff in our business services department to prepare the budget for the WRDSB,” public board chair Joanne Weston said. “I want to express my gratitude to them for ensuring we are able to approve a budget that meets provincial requirements and allows us to support students in achieving their full potential on their learning journey.”
The board hosted two budget meetings this month to allow trustees time to ask questions about potential risks to the projections, and to learn more about the challenging financial climate all school boards are in as they attempt to maintain operations.
Trustees approve the annual operating budget, while staff oversee and monitor day-to-day spending within the budget framework.
Enrolment volatility continues to be a wild card since the onslaught of the COVID-19 pandemic, explained Nick Landry, superintendent of business services and treasurer.
The fewer students the board enrols, the less funding it receives.
The 2023-24 school year will be the second year in a row the board has filed a deficit budget — currently priced in at $10.1 million, thirdquarter numbers show — which is more than one per cent of its operational revenues.
This will require an in-year approval from the Minister of Education, and it also means it is required to file a balanced budget for 202425.
To limit volatility, the board is taking a more conservative approach this time around to its enrolment, with a projection that is 0.3 per cent less than last year’s enrolment projection.
“While we continue to experience moderate growth in student enrolment overall, the forecast for 202324 was fairly aggressive and we have taken a more conservative approach to our forecast for 2024-25,” the budget report reads. “Enrolment volatility continues to be a risk and staff will continue to monitor as we progress into the fall.” Then there is inflation to consider. Since 2009, funding for per pupil classroom supplies, classroom computers, textbook and learning materials have only raised by 2.3
per cent; inflation has grown by 40 per cent during the same period.
“My son is going into Grade 10 next year, and ministry benchmark supplies have increased 2.3 per cent since he was born,” said Landry.
“So, if you could think about what you could buy 14 years ago with $10, and what you can buy now, that gives you a sense of some of the stresses we are under.”
The public board approved its budget on June 13.
The Catholic board will begin deliberations on its budget during a meeting on Tuesday.
Balanced budgets are due to the ministry by both boards on June 28.