ÓÅÃÛÊÓƵ Clarifies Budget Surplus Reporting
Recent public reports from non-ÓÅÃÛÊÓƵ sources referring to the district's 2024-2025 Audited Financial Statements have incorrectly stated that ÓÅÃÛÊÓƵ has a $4.4 million surplus. This is not the case.
The district’s annual (single-year) operating surplus is $51,008.
The $4.4 million referred to in reports is not a general surplus. It is a restricted accumulated operating surplus – funds that are accumulated over multiple years that the Board of Education has already set aside for specific, required purposes such as contracts, programs, and planned costs such as equipment replacement. These funds are reserved and unavailable for other uses.
In addition, ÓÅÃÛÊÓƵ maintains an unrestricted accumulated operating surplus of $3.1 million, which falls within the 3–5% range of operating expenditures required by Board policy, as recommended by the Province of B.C. This reserve acts as a contingency fund to ensure financial stability when unexpected costs arise.
The Board of Education follows standard, prudent financial practices to ensure stability for students, staff, and communities.
More information is available in the ÓÅÃÛÊÓƵ Budget Surplus Clarification FAQ.
