Surrey Board of Education approves billion-dollar budget for 2023-24 school year

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For the first time in history, the Surrey Board of Education has passed an annual budget totalling more than a billion dollars for the 2023-24 school year.

At Wednesday’s board meeting, trustees unanimously approved a budget worth $1,053,291,903, with $602,014,660 for teacher costs and $451,277,243 for all other costs. The budget is based on numerous variables, including projected enrolment, capital costs, grant funding, labour settlements and wage increases, inflation, supply chain delays, recruitment and retention challenges, efficiency needs and modernization of business systems, and lingering effects of the pandemic.

“As finance chair, I feel that the budget continues to support our strategic priorities and allows us to ensure the safety of our staff and students, and keep our focus where it should be: students and their learning,” said trustee Terry Allen, who is also chair of the finance committee. “I have great confidence that the district will continue to provide an exceptional education to our students, and I am pleased to present the budget bylaws for recommendation.”

Each year, the district conducts a public consultation seeking input on budget priorities, with this year’s consultation gathering 6,433 survey responses from parents, students, staff and community members across Surrey and White Rock. The Finance Committee utilized this feedback to better understand the priorities of our community as they finalized the budget.

The district also analyzed financial needs based on projected enrolment, which is expected to surpass 80,000 students by the 2025-26 school year. The board report noted an operating budget shortfall of approximately $5.6 million and a capital budget shortfall of $6.5 million, after consideration of projected revenues and expenses. This was offset by existing prior years’ fund balances.

With the lifting of pandemic restrictions, Surrey Schools anticipates a gradual return of other revenue sources, such as an increase in international students. The district also receives revenue from such sources as facility rentals and investment income.

The annual budget is made up of three separate funds: the operating fund, special purpose fund and capital fund. Operating costs include classroom and instructional programs, school and district administration, and the maintenance of schools, district facilities and transportation.

Special purpose funds are provided by funders or donors for specific functions such as school meal programs, scholarships and ministry-designated activities, including annual facility grants, classroom enhancement grants, Student and Family Affordability programs and early learning programs.

Capital funding largely comes from Ministry of Education capital grants, as well as operating and special purpose funds, for the construction of new schools, school expansions and upgrades; vehicles, computers, furniture and equipment; and site acquisitions for new schools.

To view the 2023-24 annual budget, click here.