The Bluewater District School Board is in good shape financially entering the 2010-11 fiscal year.
Linda Bross of BDO Dunwoody told the board Tuesday, the operating surplus is in the black this year at just over 925 thousand dollars.
Bross says the accumulated surplus is over 87.1 million dollars but board treasurer Brenda Booth that number is deceiving.
Booth says it is made up of several components including the investment in tangible capital assets such as school buildings and land throughout the system.
Booth says it now counts as revenue but can’t be used for anything other than where it is, or there’d be no infrastructure.
She did say the operating surplus is being used for student’s education and has already been included in budgetary items for the new fiscal year.
Meanwhile, Bross says although the board is in good shape, they will have challenges in the new year in managing the numbers since declining enrolment equals reduced provincial grants.
Booth likes what she’s heard saying they’ve ended the fiscal year with a surplus and it’s always a good place to be in a publicly funded organization.
