The board of the South East Cornerstone Public School Division received an update on the financial situation for the division during the regular meeting held last Wednesday. At the halfway point of the school year, it was reported revenues were up slightly, thanks to adjustments for enrolment as well as reimbursements, interest and royalties. 

The revenues are now projected to be above budget by nearly $800,000 for the year with the adjustments. Expenses are also projected to be lower than budgeted by just over $295,000.  

Currently, the books show a deficit of $3.25 million, but that is expected to improve by the end of the school year. The current statement of operations shows the budget will be in a deficit of $1.2 million, which is in line with the budget passed by the board last June.  

The provincial budget introduced last month did provide $2.2 billion for school division operating funding in the province, which Director of Education Keith Keating said, at the time, could help the situation for next year. 

"We're still looking at both the revenue and the expenses in more detail, but I can say, from the preliminary numbers, it appears to be a better budget than we've seen in a number of years just from a cursory look at it," he commented last month.  

Despite the increases in operation funding, the division will still likely be in a deficit when it introduces its next budget in June.