The School District 67 Board of Trustees voted on Feb. 24 to hire an external financial expert to help them balance their books. The district today announced they have hired a private financial advisor, Joan Axford, to assist the board with financial oversight in regards to their budget. (Phil McLachlan - Western News)

The School District 67 Board of Trustees voted on Feb. 24 to hire an external financial expert to help them balance their books. The district today announced they have hired a private financial advisor, Joan Axford, to assist the board with financial oversight in regards to their budget. (Phil McLachlan - Western News)

Ministry grants SD67 extension to balance books, submit amended budget

The board of trustees voted Monday to acquire outside help to deal with budget concerns

School District 67 has been granted an extension by the Ministry of Education to balance their books and approve their amended 2019/20 budget.

They are set to submit the 2019/20 amended budget, with the help of a private financial advisor, following the third and final reading of the budget bylaw at a board meeting March 9.

The district announced Thursday (Feb. 27) they have hired private financial advisor, Joan Axford, to assist the board with financial oversight in regards to their budget.

This comes after SD67 Trustees voted in a Monday (Feb. 24) board meeting to bring on an external financial expert to help balance their books. At the meeting, concerns were raised by members of the public and trustees about SD67’s financial situation.

Trustees also decided not to give third reading to the $73 million budget for the 2019-20 fiscal year, giving them less than a week to meet the deadline set by the Ministry.

READ MORE: School district looks to financial expert to balance books

The district explained Joan Axford is a professional accountant with over 35 years of experience in education finance. She has previously worked for School District 63, and as director of school finance for the Ministry of Education.

SD67 board chair James Palanio says the board and Axford have agreed to produce the following together:

  • A simple explanation of the 2018/19 operating deficit
  • Clarification of the decisions in the amended 2019/20 budget, impact on the 2020/21 budget and a financial forecast to June 30, 2020
  • A report on operating reserves, school generated funds and local capital over the past three years
  • Provision of a Financial Literacy and Budget Development Workshop for the Board
  • Provision of budget consultation and communication strategies
  • Development of a budget implementation plan to ensure that all areas of the organization understand and can manage their area of budget responsibility.

SD67 assistant superintendent Todd Manuel said the school district appreciates the budget work of staff to date and recognizes the amended budget is intended to have, “the least impact on educational programs.”

“The Board is committed to move forward in a positive manner, with tools to work collaboratively and transparently with our staff and partners on a sound 2020/21 annual budget plan,” he said.

@PentictonNews
editor@pentictonwesternnews.com

Like us on Facebook and follow us on Twitter.

deficits

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

(Phil McLachlan - Capital News)
Device found on Walmart parking lot confirmed false: Kelowna RCMP

Banks Road around Walmart was closed off on Nov. 22

RCMP Cpl. Cory Lepine pictured at BC Livestock Producers Co. in Kamloops, Nov. 16. (Phil McLachlan - Black Press Media)
Meet B.C.’s only cowboy cop; a voice for the livestock industry

Cpl. Cory Lepine serves as a bridge between the law and those who make a living off the land

Gary Brown Sr. (Contributed - West Kelowna Warriors)
West Kelowna Warriors honour late super-fan

The Warriors renamed its Fan of the Year award after devoted fan Gary Brown Sr. died last week

Kelowna’s Post-Modern Connection performs for Riot on the Roof on the top of the Vernon Parkade Saturday, Aug. 22. The band is scheduled to play in the “Live @ The KCT” series in Kelowna on Dec. 4. (Vernon Public Art Gallery photo)
Kelowna concert series moves online due to new health orders

Rebellious Unicorns series ‘Live @ The KCT’ has moved to an online model until further notice

Kyle Charles poses for a photo in Edmonton on Friday, Nov. 20, 2020. Marvel Entertainment, the biggest comic book publisher in the world, hired the 34-year-old First Nations illustrator as one of the artists involved in Marvel Voice: Indigenous Voices #1 in August. THE CANADIAN PRESS/Jason Franson
VIDEO: Indigenous illustrator of new Marvel comic hopes Aboriginal women feel inspired

Kyle Charles says Indigenous women around the world have reached out

Minister of Justice and Attorney General of Canada David Lametti speaks with the media following party caucus in Ottawa, Tuesday, January 28, 2020. THE CANADIAN PRESS/Adrian Wyld
Exclusion of mental health as grounds for assisted death is likely temporary: Lametti

Senators also suggested the exclusion renders the bill unconstitutional

Claudio Mastronardi, Toronto branch manager at Carmichael Engineering, is photographed at the company’s offices in Mississauga, Ont., Thursday, Nov. 19, 2020. As indoor air quality becomes a major concern in places of business, HVAC companies are struggling to keep up with demand for high quality filtration systems. THE CANADIAN PRESS/Chris Young
Business is booming for HVAC companies as commercial buildings see pandemic upgrades

‘The demand right now is very high. People are putting their health and safety ahead of cost’

Bank of Montreal, located on Burrard Street in downtown Vancouver. (Google Maps)
Heiltsuk man files human rights complaint against Vancouver police, BMO after bank arrest

Pair remains distraught after employee falsely reports fraud in progress leading to their arrest

LeAnne Jakubeit, a prominent Penticton business woman and wife of former Penticton mayor Andrew Jakubeit, has died after a battle with cancer. Her death was announced Saturday, Nov. 21, 2020 on The Grooveyard’s Facebook page. (The Grooveyard / Facebook)
Prominent Penticton businesswoman dies after battle with cancer

LeAnne Jakubeit opened iconic Penticton record store The Grooveyard 30 years ago

BCHL
BCHL pushes back season start due to provincial health orders

The delay is minimal, just six days, for now. But the league is open to starting up after Christmas

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Prime Minister Justin Trudeau speak to the media about the COVID-19 virus outside Rideau Cottage in Ottawa, Friday, Nov. 20, 2020. THE CANADIAN PRESS/Adrian Wyld
Long-awaited federal rent subsidy program for businesses hurt by COVID-19 opens today

The new program will cover up to 65 per cent of rent or commercial mortgage interest

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Most Read