PwC Advises VSB on Potential Cost Savings and Revenue Sources

At the November Finance and Legal Committee meeting, senior management noted the intention to undertake a Resource Allocation Review. The purpose of the review was to identify a strategic budget approach and possible budget proposals that could be considered as part of the 2012/2013 budget process. 

The Board issued an RFP and determined that PwC would undertake a review of the current state at the VSB through a review of documentation and reports and interviews with management and stakeholders. The review began in January and was completed in early March. 

"We appreciate the external advice provided by the PwC team in this report," says Patti Bacchus, Chair of the Vancouver School Board.

The report PwC presented last night identifies opportunities that could be initiated within the coming year that could ultimately result in the annual savings of $3.6 - $12.3 million when fully implemented in addition to long term recommendations, which could total $1.4 - $4 million annually. PwC's report did not include a review of collective bargaining agreements or the provincial funding formula.

"The PwC report identified approximately $16 million in potential savings through short term and long term initiatives," says Winifred Whelan, Managing Director, PwC Consulting Services and report co-author.

To read the full report, click here.

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