Chinook’s Edge reserves dwindling following latest budget
Chinook’s Edge School Division has had to dig deep, again, in order to pass a balanced budget.
Last week, the Board of Trustees approved a $129 million budget for the 2017-18 school year. It forecasts student enrollment next year will increase by 0.6 per cent.
To balance the budget they again had to dip into reserves. The division says they now sit with “uncomfortably low” operating reserves expected to increase by $115,000 and capital reserves of $660,000.
“Over the years we’ve been faced with eroding resources and we’ve depleted our reserves to the point where the Board is uncomfortable with them,” said Chinook’s Edge Superintendent Kurt Sacher. “When your reserves get that low you get into a position where you have to borrow money to pay the bills.”