After careful consideration and in-depth consultation with external professional services, the Board of Directors of CUSA confirmed the difficult and final decision to cease operation of Haven.
The Board retained the services of professional financial accountants to provide the Board with financial advice. Following their review, the accountant confirmed substantial financial losses and hardship for Haven over the last two years. Their analysis concluded that Haven has been operating at a significant loss, which included a loss of over $130,000 over the last six months.
Per their independent analysis, Haven is not, nor will it be, in a position to derive a profit or break even should it continue to operate.
CUSA’s accountants, auditors, and lawyers recommended that CUSA take significant and urgent steps to reduce financial losses and correct our overall financial position. After considerable contemplation and deliberation, the Board has determined that the closure of Haven is necessary to avoid a worst-case scenario, given CUSA’s unexpected financial constraints.
We are currently working with the student employees of Haven to secure on-campus opportunities. They will be given the opportunity to subsequently be transferred to our other operational businesses and services.
The Board, in making this difficult decision, recognized their binding fiduciary obligation to safeguard CUSA’s long-term financial future and the students at large, who rely on CUSA for their services.
The CUSA Board wishes to acknowledge and apologize for the fact that many students felt blindsided and disappointed by this decision. Constructive feedback is paramount, especially while navigating these financially tumultuous times, and CUSA is committed to more open communication moving forward. If you have feedback or suggestions for our businesses, please fill out our form here.
Haven will cease operation as of December 6, 2024. We thank everyone for their ongoing support of Haven. We will continue to work to provide the students of Carleton University with valuable on-campus services.