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Chinook's Edge ends year with $800K surplus

Chinook's Edge School Division ended the 2010-11 fiscal year with an $808,000 surplus, board of education members were told during their Nov. 23 board meeting.

Chinook's Edge School Division ended the 2010-11 fiscal year with an $808,000 surplus, board of education members were told during their Nov. 23 board meeting.Susan Roy, Chinook's Edge's treasurer, said the division is in a better financial position than was originally projected.Revenues for the year ending Aug. 31, 2011 were $112,486,000 while expenses were $111,678,000. Roy said the division originally budgeted for the expenses to exceed revenue by $1.3 million, with revenues coming in $1.6 million higher than originally budgeted. Expenses also came in under budget, Roy added.The accumulated operating, capital and unrestricted reserves sat at $5,757,000 at year end ñ well above the $4 million the division originally estimated last fall.ìWe pretty much are ending up where we thought we would end up being ñ in good, solid financial shape,î Roy said. ìAs traditionally happens, we're in better financial shape than we had predicted in the original budget last fall.î

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