The Central Okanagan Public Schools will carry a $2.4 million surplus into the 2019-20 school year budget.
An audit of financial statements from Jan. 1 to June. 30, 2019, was adopted by the trustees at Wednesday’s school board meeting.
“We will be using the money (from the surplus) and will be re-investing that money in education in future years,” said Ryan Stierman, chief financial officer for Central Okanagan Public Schools.
Stierman added the increase in student enrollment also meant more funding is available to the school district for 2019-20 school year based on the ministry of education’s school district funding formula.
“We currently have more than 100 students enrolled in our schools than was projected,” said Stierman.
“That obviously means we require more teachers and more funding.”
In total, 491 new students are enrolled in School District 23 this fall compared to September 2018.
Stierman added several capital projects which impacted the school district budget included the completion of Canyon Falls Middle School and finished preliminary work on H.S. Grenda Middle School in 2018.
The school district also spent $9.6 million in liabilities and $8.8 million in deferred salary leave plans last school year.