At the November 25th's public board meeting, the Calgary Catholic School District (CCSD) Board of Trustees approved the 2019-2020 audited financial statements reflecting a deficit of $5.9 million, representing approximately 1.0 per cent of expenditures.
The district's year-end financial results are better than the budgeted $10.5 million deficit primarily due to spending reductions realized that exceeded the reduced funding within the mid-year provincial budget, coupled with the funding claw backs arising due to the onset of COVID-19.
"The district's overarching priority has been to protect teaching and learning experiences to the greatest extent possible during these challenging times at our schools through making judicious choices for deployment of resources where they are most needed" said Board Chair Mary Martin.
Total CCSD revenues were $606.8 million, down by $12.9 million (2.1 per cent) over 2018-2019, primarily due to reduced funding, despite the growth in enrollment. Total district expenditures were $612.7 million, reflecting a decrease of $8.1 million (1.3 per cent) from the previous year, primarily in response to the funding reductions.
For additional information, please view the district's complete 2019-2020 audited financial statements at www.cssd.ab.ca.
