BUSINESS & FINANCE REPORT FROM THE DIRECTOR OF BUSINESS & BOARD SECRETARY MR KENT PETERS 2022 has been a year where we have seen the continuing impacts of the Covid-19 virus but also the opportunity to see many aspects of the depth, breadth and richness of School life returning to what will be the new normal following the Covid-19 pandemic. However, in the midst of all that these challenges have posed, Canberra Grammar School has continued to embrace the challenges and in the midst of it all has demonstrated the strength of its community in achieving significant milestones during the year. 2022 has also seen a not insignificant rise in not only interest rates but also increases in many other key costs that impact the day-to-day operations of the School. The School continues to see its overall enrolments consolidate with a total student population of some 2,153 students across the Northside and Red Hill Campuses. The boarding community has been hit very hard with the impacts of Covid-19 and the uncertainties that being in boarding has created for many of our boarding families, but is well positioned to bounce back in 2023. The reportable income including Government recurrent per capita funding for the year ended 31st December 2022 was $66.9 million excluding revaluations of the School’s investment portfolio. Approximately 71% of this income was contributed by parents with Federal and State Government Recurrent Grants providing around 10% and the balance of 19% from investments, donations and other sources.
73 | CGS | Annual Report 2022
