SUDBURY—The Rainbow District School Board (RDSB) has a surplus in its budget at the end of the current financial fiscal year.
Derek D’Angelo, on behalf of the board’s auditors, KPMG, presented the financial statements at the school board meeting last week. RDSB received a clean audit on its financial statements for the year ending August 31, 2025. A clean audit is the highest level of assurance that an auditor can provide.
At the end of the 2024-2025 school year, RDSB had a surplus and added $560,395 to its accumulated surplus, Mr. Angelo told the school board members.
Trustee Judy Hunda praised Mr. D’Angelo and board staff for making things relatively easy for the members of the board’s audit committee in helping to get the audit completed.
Trustee Judy Kosmerly reiterated that the RDSB had a surplus of $560,395 in the fiscal year. “We had thought (previously) that we would be in a deficit position this year.”
