Deficit is actually cash surplus

Nathan Liewicki
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Prairie South board chair discusses division finances

According to Shawn Davidson, chair of the Prairie South School Division (PSSD) board, the division’s surplus comes in two forms.

Shawn Davidson, Prairie South School Division board chair, discusses an agenda item at a PSSD board meeting on Dec. 3, 2013. Davidson recently discussed the division's financial situation in light of the board's May 6 vote to pass a $3.89 million budget deficit for the 2014-15 school year.

“One is in the form of our existing capital assets – the number that’s reported on the financial statements in our books,” Davidson told the Times-Herald on May 16.

Nathan Liewicki can be reached at 306-691-1256 or follow him on Twitter @liewicks

Organizations: Public Sector Accounting Standards, Times-Herald, Prairie South board

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