Nov. 28, 2024
At its public board meeting on Nov. 26, the Board of Trustees approved the
2023-24 Financial Results and Audited Financial Statements.
In the 2023-24 school year, the CBE’s expenditures were $1.56 billion, which supported 141,000 students, 15,000+ employees and over 250 schools and facilities. The CBE ended the year with an operating deficit of $4.8 million. This represents 0.3 per cent of total annual CBE expenditures, or about one-half of what the CBE spends on one typical instructional day.
“These financial results continue to highlight the impact of growing student enrolment, inflation and rising staffing costs. This modest deficit highlights that current funding levels make it challenging to maintain programs, services, and operations” said Patricia Bolger, Chair of the Board of Trustees.
The expected impacts of enrolment growth over the next ten years are documented in the CBE’s
Ten-Year Student Accommodation and Facility Strategy 2024-2034. Record enrolment is putting pressure on the system, contributing to capacity concerns, growing class sizes, overflows and longer bus rides. Accommodating record-breaking enrolment growth within a portfolio of aging schools that require significant capital investment will continue to be a challenge for the CBE over the next ten years.
Overall, the CBE’s finances are sound. Looking ahead, the CBE will continue to demonstrate prudent financial stewardship and maximize dollars directed to the classroom to support teaching and learning in alignment with the priorities set forth by the Board of Trustees and identified in the CBE Education Plan.
The audited financial statements will be submitted to Alberta Education by the Nov. 30 deadline.
