A second-quarter update indicates Rocky View Schools (RVS) is projecting a $3.6-million deficit for the 2024–25 school year.
On Thursday, trustees were told the school division continues to face financial pressures, despite an increase in the base grant from the provincial government. Lower-than-anticipated enrolment led to a reduction in instructional funding.
Revenue for mental health and curriculum grants came in higher than budgeted, contributing to total revenue of $328.5 million. However, total expenses are projected at $332.1 million, resulting in the $3.6-million shortfall.
The deficit will be covered using the division’s reserves.
At the end of the second quarter, expenses were about half of the budget and are expected to come in slightly lower than forecast, due to reduced spending on contracts and supplies.