Catholic board reports on-target finances for first quarter
By MO CRANKER on December 10, 2020.
mcranker@medicinehatnews.com@mocranker Medicine Hat Catholic Board of Education trustees received a report this week on finances for the first quarter of this school year, in a presentation by secretary treasurer Greg MacPherson. That period is the first three months of the year, ending on Nov. 30. To date, the Catholic school board has $9.2 million in revenues recorded, which represents 29 per cent of the forecast. “Revenues are generally on target,” said MacPherson. Expenditures are at $8.4 million, which is 25.2 per cent of the forecast. “Being a quarter of the way through the year, we are on target,” he said. “This is very positive for where we’re at.” MacPherson noted that projected revenue was down from a previous budget forecast, largely due to decreased enrolment. A large increase in funding came MHCBE’s way from the federal government’s COVID-19 relief funds for schools. “That resulted in about $926,000 in funding,” said MacPherson. “We’ve incorporated that money in the revenue forecast.” MHCBE lost funding federally that was previously given for French immersion learning, totalling $74,000. Expenditures decreased by about $320,000. A lot of what MHCBE did to move some students online was funded by federal grant money. 13-12
