The Calgary Board of Education is forecasting a surplus of $3.5 million this fiscal year due to higher overall revenues and lower-than-expected enrolment numbers.
According to a first-quarter budget variance report presented to trustees on Tuesday, this is around $6.1 million more than the $2.66 million deficit predicted in the 2024-2025 Budget Report, which was approved last May.
Chief Financial Officer and Superintendent Brad Grundy told trustees at Tuesday’s meeting that the higher revenues resulted from $31.7 million in additional funding from the Alberta government, which helped hire more school-based staff to address enrolment growth across the school board. He also said the funding helped address operational pressures, enhance existing programs and services, and build additional learning spaces in schools.
There was also a “slight easing in the rate of enrolment growth” since the budget report was approved, which contributed to the surplus, Grundy said. According to the budget variance report, growth was initially expected to slightly exceed 9,000 students for the 2024-2025 school year. However, the student population grew by more than 4,100 students as of Sept. 30, 2025.
Grundy said changes to federal and provincial immigration policies and the affordability crisis in Calgary were considered factors. However, the CFO noted that the school board must return $35 million in funding because of the slowed enrolment growth rate.
“The CBE is required to return approximately $35 million in funding associated with the students who did not materialize in this school year when counted on Sept. 30. Administration has made provisions for the return of those funds as part of the 2025-2026 budget cycle,” Grundy said.
CBE administration will also hold funds from its Response Fund to accommodate the additional 890 students enrolled in the CBE since Sept. 30. The Response Fund is a criteria-based pool of money used to address pressures at schools that received a significant number of new students during the school year.
“The CBE also grew by approximately 890 students since Sept. 30. Those students do not attract additional funding from Alberta Education and must be funded from the CBE space budget. Accommodating these students in CBE schools necessitated an investment of slightly more than $6 million,” Grundy added.
The CBE also carried forward $16.1 million in operation funds and $27.8 million in capital funds from projects that did not complete as planned from the 2023-2024 school year. Those carry-forward amounts were reflected in the audited financial statements and will be used to complete those projects. However, they are not included in the 2024-2025 Budget Report because of the “inherent variability of carry-forward” balances.
“This budget variance report reflects a well-managed public school district that is committed to meeting the needs of all students within the funding allocated to it by Alberta education, the forecast modest surplus of $3.5 million provides the CBE with additional fiscal flexibility as the year progresses,” Grundy said.
“This report also shows the very dynamic nature of public education in Alberta. Enrollment continues to shift and change. Funding from Alberta education continues to evolve in response to emerging issues and challenges.”
