***Audited Financial Statements, AERR Summary Report/Three Year Education Plan Released
At today’s public Board meeting, Trustees approved the District’s financial statements for the 2017-2018 year ending August 31, 2018.
Here are some of the highlights from the Financial Statements:
- The District had a modest operating deficit for 2017-18 of $4 million which is 0.8% of the District's total revenues of $514.7.
- The District's Accumulated Surplus from Operations decreased by $0.2 million and now stands at $19.7 million or 3.8% of total expenditures. This amount can be used by schools and the District to cushion significant fluctuations in subsequent years resulting from either funding or expense changes.
- The District has $439 million of tangible capital assets. Our Capital Reserve decreased by $0.6 million and now stands at $15.6 million.
- A total of 2.9% of the District's expenses were directed towards Board, System and Administration. This amount is significantly below the government cap of 3.6%.
“By being fiscally responsible, our District continues to meet the needs and provide supports for all students,” said Laura Thibert, Board Chair. “It is becoming more and more difficult to meet our critical need for new schools as well as funding for maintenance and modernizations,” Thibert went on to say.
The Annual Education Results Report 2017/18 celebrates the District’s achievements in the past year. These include:
- The District’s three-year high school completion increased to 85.6%, which is above the provincial rate of 78 %.
- Our drop-out rate of 1.2% is almost half the provincial rate of 2.3%
- A plan was developed for transportation to implement tiered bussing which is an expansion of the shared bussing with Edmonton Public Schools for a total cost savings in 2018/19 of $1.8 million.
- For the third year in a row, Edmonton Catholic Schools was named one of Alberta’s Top 70 Employers.
The Three-Year Education Plan looks ahead to 2021 and our continued commitment to enhance the distinctiveness of Catholic education and to help students develop to their full potential. This includes numerous strategies so that our First Nations, Metis and Inuit students can continue to excel, the completion and opening of Ben Calf Robe/St. Clare replacement school, to ensuring learning environments embrace diversity and promotes inclusion.
“Our innovative programs and partnerships provide our students with amazing opportunities,” said Joan Carr, Superintendent. “These include our Dual Credit Aviation Program that began in September through a partnership with WestJet and Mount Royal University, as well as our wonderful partnership with the City of Edmonton that offers numerous District programs, including our 100 Voices program for pre-school children, at 13 City of Edmonton sites,” added Carr.
Click here for the 2018-2021 AERR Summary Report/Three Year Education Plan
Click here for the Audited Financial Statements