Financial Statements Highlight PEAKS Campus Self-Sustainability

The Livingstone Range School Division Audited Financial Statements (AFS) for the 2023-2024 school year highlight the self-supporting financial position of PEAKS Campus. The AFS were presented to the Board of Trustees by Jordan Gunderson, Director of Finance at a Board Meeting on November 26, 2024.

"PEAKS Campus, which benefits students across the Division, is a financially independent business unit within Livingstone Range School Division," says Gunderson. "The funding we receive from our summer school programs cover the cost of the facility and programming. Any surplus is reinvested to ensure PEAKS Campus remains self-sustaining into the future." 

Other highlights of the AFS include: 

• Divisional costs were higher than divisional revenues resulting in a deficit of $188,224 which is lower than the anticipated deficit of $454,500
• A planned instructional deficit was reduced to almost zero due to the following:
• Higher interest was earned due to the higher interest rates 
• Higher number of International Students attended LRSD schools through our International Program 
• We continue to experience a deficit in the maintenance of our facilities due to rising costs
• Divisional operating reserves decreased mainly due to the maintenance deficit.  
• Capital reserves increased due to the sale of the old division office in Claresholm. 

The 2023-2024 Audited Financial Statements are available on our website at https://www.lrsd.ca/our-division/departments/finance.