The Burnaby school district finished the fiscal year in good financial shape.
Secretary-treasurer Greg Frank presented the audited financial statements for the 2011/12 fiscal year at the school board meeting on Tuesday, Sept. 27.
"We finished the year with some accumulated surpluses.
They are in total $6.1 million," Frank said. "Part of that, about $3.8 million, was designated to cover an anticipated budget shortfall for the coming year."
That $3.8-million shortfall is because provincial funding is not keeping up with rising education costs, Frank added.
While neighbouring New Westminster is struggling financially and may be forced to run a deficit, Burnaby seems to be in good shape.
"I can't comment on the other districts. I can say our board has made the decisions required to make sure we stay within our operating budgets," Frank said.
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