2013/2014 Budget Process

2013/2014 Budget Proposals and Restoration Budget

On April 29, 2013, the Board approved the 2013/2014 Budget Proposals (summary) and Restoration Budget (report and infographic).

2013/2014 Preliminary Budget Proposals

The preliminary budget proposals will be presented to the Board and stakeholders at the Plenary Education & Student Services / Finance & Legal Committee (Committee III/V) meeting. The following documents are to be provided at the meeting:

Public and stakeholder meeting dates on the 2013/2014 Budget are as follows:

April 16, 2013     Stakeholder Consultation on 2013/2014 Preliminary Budget Proposals

April 17, 2013     Public input on the 2013/2014 Preliminary Budget Proposals

April 22, 2013     Public presentation of the Revised 2013/2014 Budget Proposals

April 24, 2013     Stakeholder and public input on the Revised 2013/2014 Budget Proposals

April 29, 2013     Final Deliberations and Adoption of the 2013/2014 Preliminary Budget

 

2013/2014 Fiscal Framework

The 2013/2014 Fiscal Framework was presented to trustees at a Plenary Committee III/V (Education & Student Services / Finance & Legal) on Tuesday, April 9 2013. The purpose of this report is to provide background information for the budget process and assist in the development of budget balancing proposals for the 2013/2014 budget.

The major components of this document are as follows:

  • the historical financial information section which was based on amended annual budgets for the years 2007/2008 to 2012/2013 and shows comparative enrolment, staffing, revenue and expenditure information; .
  • the 2013/2014 Base Budget section includes information on major assumptions made when building the base budget, provides a summary of revenue and expense by type and the projected 2013/2014 operating funding shortfall;
  • the local capital reserve section provides an updated local capital reserve balance projection for 2013/2014;
  • the three year operating budget projection section details the key assumptions used in building the projections for 2014/2015 and 2015/2016

As noted in the attached document, the Vancouver Board of Education (VBE) is estimating that it will be facing a budget funding shortfall for 2013/2014 currently estimated at $7.91 million. In accordance with the School Act, school districts in the province must approve a balanced budget.

The major changes to projections from the November 2012 estimated shortfall of $24.44 million to the current shortfall estimate of $ 7.91 million are due to the Board approved 2012/2013 projected operating surplus to be carried forward to 2013/2014 ($9.29 million) and ongoing savings achieved in the current year.

2013/2014 Budget Process / Timeline

At the January 14, 2013 meeting of the Vancouver Board of Education, trustees approved the process / timeline for developing the 2013/2014 preliminary operating budget. View the calendar (PDF).