Mike W. Bryant
Northern News Services

Yellowknife (Nov 07/01) - Yellowknife Catholic Schools are sitting pretty after revealing a budget surplus of nearly $1 million this year.

After presenting its financial statement for the fiscal year ending June 30, administration announced an accumulated surplus of $933,615. The news came at a public board meeting held Oct. 24.

Kern Von Hagen: The Yellowknife Catholic Schools superintendent says some of this year's budget surplus will have to go towards paying teacher salary increases.

"We're pretty happy about it," said board chair Larry Purcka. "It's nice to see you're in a solid position."

The question now is what to do with the surplus. While Purcka said there was a need to be cautious, he would like to see at least some of the money earmarked for technical trades training for students.

"If there is some way to address the needs of our students and Northern employers, then we would like to look into it," said Purcka.

One area where some of the surplus will have to go is towards the new three-year contract signed by teachers early this summer. The deal was reached after the budget cutoff of June 30, so the salary increases were not included into budget expenses for the 2001/2002 school year.

Superintendent Kern Von Hagen said $200,000 will likely go towards salary increases this year, with room for little else.

"Once that's all said and done, we have to keep a five per cent surplus," said Von Hagen, referring to Education, Culture, and Employment budget guidelines, which call for school districts to maintain a surplus of between five and 10 per cent each fiscal year.

After the most recent financial statement, the Catholic school board now has an accumulated surplus representing 6.5 per cent of its $14.6 million 2001 budget.

Nonetheless, even after paying salary increases, the board is still looking forward to a $650,000 projected surplus next year.

"The board will be very careful," said Von Hagen. "I think we have a board that takes its fiscal responsibility very seriously."