The Ministry of Education has modified Holy Trinity Catholic School Division’s capital budget for this school year, which means the division will be spending less on school-related construction projects.
The board finalized its 2024-25 budget during its June 17 meeting and then submitted the document to the ministry for official approval. After reviewing the budget, the government offered feedback that focused on the division’s estimated revenues and expenses for its capital projects.
Specifically, the modifications resulted from ministry officials’ reassessment of Holy Trinity’s expected capital project cash outflows.
“Based on consultation with ministry officials, the budget requires modification as it no longer can be characterized as a minor change … ,” said a board report presented during the August meeting. “There were (also) several minor changes to the operating budget that did not change the bottom line, primarily expenditure reclassification(s).”
Changes to the capital budget include:
- Capital revenues have decreased from $17,742,795 to $13,799,000, a drop of $3,943,795
- Capital expenses for the Our Lady of Hope joint-use school project have declined from $16,242,795 to $12,299,000, a drop of $3,943,795
- Capital expenses for the École St. Margaret School project have been revised from $3,817,300 to $2,750,000, a decline of $1,067,300
These changes total $8.95 million in deferred capital budget money.
Ward Strueby, director of education, told the board that these changes will not affect the division’s operating budget, although it will affect the cash flow streaming in and out for those projects. Meanwhile, the province will take the money it reduced from this year’s capital budget and apply it to the 2025-26 capital budget.
“So we may have budgeted money in one area, but the government says it should be coming out of a different budget line. So the money stayed the same; it just moved in a couple of small places,” he said.
Strueby added that the ministry did not give any reason for reducing Holy Trinity’s capital budget this year.
The next Holy Trinity board meeting is Monday, Sept. 16.
