The Board of Education acknowledges that an Accumulated Operating Surplus balance provides a measure of resiliency to mitigate against fluctuations in annual grant funding and other revenues and creates a contingency to manage one-time costs or unforeseen expenditures. Use of the Accumulated Operating Surplus cannot be relied upon to sustain on-going operations and services.

 

The Board of Education will ensure that prior to approving the Preliminary Annual Budget, a consultation process regarding the utilization of Accumulated Operating Surplus will take place with education partners, local First Nations and Métis Nation BC. The Board of Education will consider the advice and recommendations received prior to approving a separate motion regarding utilization of the surplus.