Seine River School Division eliminates deficit, runs surplus for 2024-2025: financial report

Seine River School Division posted a surplus for the first time in two years, after previously running deficits, according to its 2024-2025 audited financial statement.

The statement, presented during Tuesday’s school board meeting by secretary treasurer Karastin Michalycia, revealed the division had a $1.8 million operating surplus in 2024-2025, and it paid off the $2.8 million deficit carried over from the previous year.

“It is modest. It’s within the threshold, but we’re happy to report that surplus this year,” Michalycia said during the meeting.

The division’s superintendent Colin Campbell sees the deficit’s elimination as a opportunity to “build off of solid ground.”

He said this enables the division to make one-time purchases as needed, but emphasised the importance of retaining the surplus and growing it.

“You want to make sure you keep it and not lose it. So we need to make sure that the decisions around the board table reflect needs that we have,” Campbell said. “But we’re in a good spot. And I think that’s something that does need to be highlighted.”

The audited statement also included a restatement of the 2023-2024 financial results, which corrected the revenue amount.

Michalycia told the board the correction resulted in a municipal revenue increase of $1.35 million, which decreased the prior year’ operating deficit amount.

Schoolboard chair Christine Roskos said the surplus will enable better services for staff and students.

“We’re going to focus on a positive path to look at the services that we provide our students and our staff and make sure that we meet the needs that are there,” said Roskos.