BSD ends fiscal year with $400K surplus

The Brandon School Division closed its 2024–25 fiscal year with an operating surplus of about $400,000, accounting firm BDO Canada LLP reported during Monday evening’s school board meeting.

The “small surplus” represented 0.3 per cent of the division’s annual operating expenditures, BDO official Todd Birkhan told the board.

“That’s basically getting into a break-even perspective,” he said.

After accounting for that surplus, Birkhan added, the division’s total accumulated surplus (money saved or carried forward from previous years) stood at about $3.68 million by the end of the year.

“If $3.68 million were in my personal bank account, that’d be a big number. But when you’re talking about a school division, that’s 2.8 per cent of the annual expenditures,” he said.

“That would equate to basically seven days’ worth of expenditures in accumulated surplus with an organization that has significant payroll.”

Birkhan also noted that contracts are not always finalized by the end of the fiscal year, and the division can face other significant financial obligations, including maintaining older school buildings.

“To be operating and basically only taking what is needed to run your organization — living within those means — is threading a needle about perfectly.”

The division also received a clean bill of health on its financial statements.

“It is my pleasure to report that … the audit opinion is what’s called a clean, unqualified opinion,” Birkhan said. “That means the financial statements are stated fairly and in accordance with the accounting basis required for Manitoba school divisions.”

Birkhan commended the division’s finance team, led by secretary-treasurer Denis Labossiere, for maintaining accurate records and strong fiscal oversight.

“When I come forward to give a presentation to the board of trustees, it’s reporting the results of our audit, not providing surprises in the numbers,” he said. “That should give comfort to trustees and Brandon ratepayers that they are receiving budgeting based on accurate financial information.”

He said the division’s financial statements reflect careful management of resources and an ability to balance ongoing operational needs with long-term commitments such as capital projects and payroll obligations.

Following the presentation, trustees thanked Birkhan and the finance department for their diligence and transparency.

“I would just like to thank you for your report,” trustee Breeanna Sieklicki said. “It’s always nice to hear your yearly report. We already know that Labossiere and his team do a great job, and it’s nice to hear your perspective as well.”

Board chair Linda Ross echoed the sentiment: “We are very grateful to our secretary-treasurer and finance department — absolutely.”

When the Sun requested a copy of the auditor’s report, Labossiere said the document is still in draft form and can only be released to the public once approved by the board. He said the finalized report should be ready by the end of the week.

» aodutola@brandonsun.com

» X: @AbiolaOdutola