The amended budget for the Sooke School District is $214,947,988. As our district grows, it’s important to understand where and how the money is spent throughout the school year.
In the 2023-24 Amended Budget, the total revenue amounts to $210,651,554 showcasing the expanding financial scope of the district.
The primary source of funding for school districts in B.C. is provincial government funding, contributing 88% of the overall budget across operating, capital, and special purpose funds.
Operating Funds, constituting 77% of the total budget, sustain the day-to-day operations of the district. This includes essential expenses such as staff salaries, services, utilities, and supplies, totaling over $165 million annually. The bulk of operating revenue stems from provincial grants, which are calculated based on student enrollment. Of significant investment is nearly $30 million in funding for Inclusive Education Services which supports students with unique needs and early literacy interventions.
Capital Funds, comprising 6% of the budget, are designated for the amortization of buildings, furniture and equipment, vehicles, computer software, and computer hardware in the District. Additionally, Capital Fund expenses include those associated with the Annual Facility Grant which is intended for annual facility projects required to maintain facility assets through their anticipated economic life and to prevent premature deterioration of these assets.
Special Purpose Funds, accounting for 17% of the budget, are dedicated to specific activities not covered by operating or capital funds. These funds, primarily sourced from provincial grants, target initiatives such as Community LINK, Strong Start, and the Classroom Enhancement Fund but are not designated for construction projects.
In addition to government grants, other revenue streams such as tuition fees from international students, facility rentals, and investment income contribute to the Operating Fund budget. However, the pressing need for capital program funding is evident, especially with the board's approval of a comprehensive Five-Year Capital Plan requiring $240 million in funding to address rapid student enrollment growth.
With limited options to raise funds for new schools or additions, government grants remain the primary funding source. Advocating for increased funding from the Ministry of Education and Child Care remains a priority for the Sooke School District Board of Education.
As our student enrollment continues to grow, we need to ensure that there is sufficient funding to accommodate the needs of our growing student population, which currently stands at 12,749 standard regular school enrolment and counting.
As we prepare for the 2024-25 budget, there will be consultations with stakeholders and opportunities for the public to engage and share feedback.