Cornerstone Christian School announced on Friday that it will not re-open in the fall of 2015. Earlier in the week, the school principal and board members decided to shut the doors on Cornerstone after 38 years. Principal Sandra Seargent said the main reason for the closure was a decline in enrollment over the past two years, as well as increased operational costs and personal financial strain in families due to economic recession. Seargeant added that private schools must generate about 58 per cent of their revenue through fees, fundraising and donations. Schools like Cornerstone do not receive funding for transportation, administration or capital projects in contrast to the Public and Catholic systems