Notes on the 2011-12 financial statements

The 2011-12 audited financial statements were publicly released yesterday. Here are some random notes of things:

  • In 2011-12, total revenues were $1.188 billion and total expenses were $1.138 billion.
  • The trustees approved a budget with a $19.2 million deficit (to be funded by reserves). The CBE ended the year with a $49.8 million surplus. That is a difference of $69.0 million (although $41.3 million of that is due to the sale of two schools and the old administration building).
  • The CBE collected $37.4 million in fees. That is 25% more than the previous year (2010-11).
  • The CBE spent $9.4 million on “lease agreements for office spaces” (i.e. new administration building).
  • Including all benefits and allowances, trustee remuneration was between $55,669 (Trustee Lane) and $68,679 (Chair Cochrane).
  • Although the trustee expenses do not match those made public for less than a day in October, they are fairly close and range between $3,079 (Chair Cochrane) and $6,061 (Trustee Bazinet).
  • Chief Superintendent, Naomi Johnson made $380,672 including benefits and allowances. She also posted $26,760 in expenses.
  • Rod Peden, former CBE legal counsel who resigned? was forced out? last September was paid $175,345 in “other” (severance?).

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