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By rdnewsNOW staff

$140 Million

Chinook’s Edge board approves budget and sets financial direction for 2024-2025 school year

May 30, 2024 | 2:13 PM

The Chinook’s Edge Board of Trustees has approved a $140 million budget for the 2024-2025 school year.

The decision follows a presentation from Treasurer Nadeem Altaf, and a Board discussion on May 28, 2024.

According to Chinook’s Edge officials, the Board anticipates revenue next year of $139.5 million, with a budget deficit of $571,336. Officials say the division will use reserves to balance the budget, anticipating that reserves at the end of the 2024-2025 school year will be $4.7 million.

The division says Chinook’s Edge has experienced increased enrolment over the past few years and officials are anticipating an enrolment of approximately 11,300 students next year.

Because the province responds to enrolment growth or declines in school divisions through a funding formula that provides a gradual increase or decline in funding over a three year period, Chinook’s Edge notes, that divisions with enrolment growth see delayed increases in funding.

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Chinook’s Edge says it is responding to enrolment growth through the use of reserves. Officials say the division has seen a decrease of $443,760, or 15.8 percent, in funding from the province in the Transportation portion of the budget. This means the Board will continue to advocate to the province on the challenges facing school divisions in this area.

Officials say the budget will be filed with Alberta Education and posted to the division website by the end of May.

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