The finances are right on track in the Hanover School Division.
On Tuesday night the board accepted the audited financial report for the year ending June 2006. Finance chair Marilyn Plett says they had projected to be in the hole by more than $400,000.00 but ended the year almost breaking even. This left Hanover with a surplus of about $1.2 million or 2.8 percent of their annual budget. She says there were no major surprises in revenues or expenses. But one area the division is still quite low in is administration costs. The province has placed a cap of 4.5 percent but last year Hanover only spent 3.2 percent of its total budget in administration.
On Tuesday night the board accepted the audited financial report for the year ending June 2006. Finance chair Marilyn Plett says they had projected to be in the hole by more than $400,000.00 but ended the year almost breaking even. This left Hanover with a surplus of about $1.2 million or 2.8 percent of their annual budget. She says there were no major surprises in revenues or expenses. But one area the division is still quite low in is administration costs. The province has placed a cap of 4.5 percent but last year Hanover only spent 3.2 percent of its total budget in administration.
Fri, Jul 26, 8:00 PM
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