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February 27, 2013 - Committee of the Whole Board (Finance) Meeting
Committee of the Whole Board (Finance) Meeting
Limestone District School Board
February 27, 2013

A Committee of the Whole Board (Finance) meeting of the Limestone District School Board was held in the Board Room at the Limestone Education Centre, 220 Portsmouth Avenue, Kingston, on Wednesday, February 27, 2013, at 5:30 p.m.
Present Trustees:
L. French (Chair)
G. Beavis
H. Brown
H. Chadwick
E. Crawford
A. Goodfellow   
P. Murray
S. Ruttan

Present Staff:
Myra Baumann, Manager of Financial Services
Brenda Hunter, Director of Education
Darlene Kirkpatrick, Recording Secretary
Roger Richard, Superintendent of Business Services
        Chair French called the meeting to order, welcoming those present to the meeting.  She reported that regrets were received from Trustee Jackson.

DECLARATION OF CONFLICT OF INTEREST

        Trustee Goodfellow declared a conflict of interest, as her son is an employee of the Limestone District School Board, and she withdrew from the meeting.

APPROVAL OF THE AGENDA

MOVED BY Trustee Crawford, seconded by Trustee Chadwick, that the Committee of the Whole Board (Finance) agenda, as distributed, be approved.–Carried

2012-2013 Revised Estimates

        Manager Baumann reported that boards are required to prepare Revised Estimates each year and to submit them to the Ministry of Education (Ministry).  She advised that this year the 2012-2013 Revised Estimates were due in to the Ministry by December 14, 2012.  She indicated that grant payments to boards are adjusted based on these Revised Estimates, and a delay in filing these estimates could result in financial penalties to the Board.  Manager Baumann reported that the 2012-2013 Revised Estimates were filed electronically with the Ministry of Education on December 14, 2012.

       Manager Baumann stated that the Revised Estimates filed with the Ministry forecast a statutory deficit of $1,829,000 for the year ending August 31, 2013.  The original budget’s statutory deficit was $1,806,000.  The Revised Estimates deficit under PSAB is $556,000 compared to the budget deficit under PSAB of $881,000.

        Manager Baumann reported that enrolment is updated in the Revised Estimates from the original budget to reflect actual enrolment on the October 31, 2012 count date.  Enrolment for budget purposes is based on average daily enrolment (ADE) over the year.  Using this base, enrolment in the elementary panel is forecast to increase for the full year 2012-2013 from budget by 6 pupils (ADE).  Enrolment in the secondary panel is forecast to increase for pupils under the age of 21 by 73 ADE, and adult enrolment, i.e. pupils over the age of 21 years, is forecast to increase by 67 ADE.  Full-day kindergarten enrolment is forecast to increase by 9 ADE, and continuing education enrolment is forecast to remain consistent.  The financial impact of the increase in enrolment is an increase to grants of $380,000.  Most of this increase was offset by the requirement to hire new teachers.
        
        Manager Baumann stated that there are a number of other changes that have a neutral impact on the bottom line results.  The teacher qualification grant has increased by $1,332,000, but is fully offset by increases to salary and benefit expenditures.  As in past years, there is a significant increase in EPO funding, as further grants have been announced after the budget was approved, but these grants are also fully offset by corresponding expenditure increases.

        Manager Baumann commented that there are a number of expenditure areas that can vary significantly from budget that were not adjusted in the Revised Estimates, since it is still too early in the fiscal year to forecast any meaningful change.  These include supply teachers usage for the balance of 2012-2013, retirement gratuities, utility costs, etc.  Manager Baumann said that these items will be reviewed in detail prior to the Board’s work in preparation for the 2013-2014 budget.

        Manager Baumann reviewed a schedule, comparing the Revised Estimates to the original operating budget.

        Manager Baumann indicated that the Revised Estimates capital forecast was also updated.  She reviewed a schedule comparing the original capital budget to the Revised Estimates capital forecast.

        MOVED BY Trustee Ruttan, seconded by Trustee Crawford, that the Board approve the 2012-2013 Revised Estimates, as presented.Carried

COMMITTEE TO RISE AND REPORT

MOVED BY Trustee Chadwick, seconded by Trustee Ruttan, that the Committee of the Whole Board rise and report to the Board and the resolution of the Committee of the Whole Board, noted above, be a resolution of the Board and made public.–Carried

ADJOURNMENT

MOVED BY Trustee Ruttan, seconded by Trustee Chadwick, that the meeting adjourn at 5:45~p.m.–Carried