After years of declining enrollment and revenues, things are perking up for the London District Catholic School Board on the balance sheet.
Following three years of operating deficits, including a $2.18 million deficit last year, on Monday the board of trustees for the LDCSB approved a budget for the 2016-17 fiscal year with expenditures just under $235 million–eliminating the deficit, and predicting a $355,000 surplus.
The board was able to reduce some spending, but a spokesperson that for the first time in a while, the board saw an uptick in enrollment last year, allowing revenues to catch up to expenditures.
“We’re looking at probably stable or very slow growth for the next few years,” said Jacquie Davison, superintendent of business for the LDCSB.
Davison attributed this to demographics more than any other factor.
While the board has had to cut some positions in recent years, Davison said that the board hired nearly 7.5 teachers, as well as a number of early childhood educators, given the link between enrollment and teaching positions.
There haven’t been any layoffs this year, but Davison did say that some vacant positions have not been refilled.
A release from the board said that “the resulting surplus will be used to reduce an accumulated deficit and accommodate unforeseen events.”