Financial Matters:

Financial Matters: The Educational Assistance budget, as managed by the Human Resources Department, is outlined below in Table 1. As stipulated in the Report to Council 17615 on March 23, 2015, and approved per CR61/2015 to charge eligible educational allowance reimbursement expenses to the Human Resources Operating Budget with any annual surplus or deficits flowing through the Educational Assistance Reserve (Account 1770) subject to an annual report to City Council detailing transfers flowing through this Reserve. Actual expenditures were higher than budgeted for 2019, requiring a transfer in the amount of $9,506 from the reserve account.

Table 1: Educational Assistance Program

	2015	2016	2017	2018	2019
Educational Assistance Budget	$52,607	$56,2871	$56,287	$56,287	$56,287
Tuition Reimbursement	$50,863	$33,1342	$44,443	$77,5235	$65,001
Employee Tuition Repayment	$0	$213	$0	$0	$0
Transfer to / (from) Reserve Account	$1,744	$23,366	$11,844	($21,236)	($9,506)
Other Transfers to Reserve Account	$0	$1,0003	$2,0004	$0	$1,0006
Balance in Reserve Account (1770)	$122,559	$146,925	$160,769	$139,533	$131,027

1 The 2016 Educational Assistance Budget was increased by $3,680 to include Transit Windsor’s budget.

2 The amount of tuition paid in 2016 is less than previous years due to outstanding tuition reimbursement requests not yet received as of the date of this report.

3 In 2016, an Apprenticeship Grant in the amount of $1,000 was received and transferred to the Reserve Account.

4 In 2017, an Apprenticeship Grant in the amount of $2,000 was received and transferred to the Reserve Account.

5 The increased spike in the amount of tuition paid in 2018 was attributed largely in part to rising costs of University level courses which placed some additional pressure on the educational assistance budget.

6 In 2019, an Apprenticeship Grant in the amount of $1,000 was received and transferred to the Reserve Account.