At this week's public board meeting, the Calgary Catholic School District (CCSD) Board of Trustees approved the 2022-2023 audited financial statements, reflecting a deficit of $0.5 million.
The district's year-end financial results are better than the budgeted $13.5 million deficit, primarily due to additional provincial funding received during the year, more investment income due to higher interest rates and higher revenues overall.
"We are pleased with the district's efficient utilization of resources, especially during a time of inflationary pressure," said Board Chair Shannon Cook. "On behalf of the Board of Trustees, I thank our Chief Superintendent Dr. Bryan Szumlas and our senior administrators for their ongoing commitment to utilize district dollars effectively to support students' wellness and successes."
Total CCSD revenues were $638.0 million, higher by $25.5 million (4.2 per cent) over 2021-2022, primarily due to enrolment growth and the return to pre-pandemic levels of school-based activities. Total district expenditures were $638.5 million, reflecting an increase of $27.3 million (4.5 per cent) from the previous year, largely due to higher staffing costs, increased supports for students' diverse learning needs and increased spending related to enrolment growth.
For additional information, please view the district's complete 2022-2023 audited financial statements at cssd.ab.ca/financial-reports.
