Catholic school board reports $2.9M surplus in financial update The Catholic District School Board of Eastern Ontario shared its 2023-2024 financial statements at a Special Board Meeting on December 3, 2024.
The Board reported $243.4 million in revenue, boosted by higher enrolment and Bill 124 payments. Expenditures reached $240.3 million, with most funds going to salaries, operational costs, and capital projects.
An in-year accumulated surplus of $2.9 million was achieved, thanks to extra revenue and cost-saving measures. Trustees noted that the Board met its balanced budget compliance, reflecting strong financial management.
KPMG auditors gave the Board an unqualified report, confirming the statements’ accuracy. This endorsement highlights the Board’s commitment to transparency and fiscal accountability.
Trustees commended staff for their work in maintaining stability while meeting the community’s needs.
These results reinforce the Board’s mission to deliver high-quality education in a responsible and sustainable manner.