Despite falling enrollment and an all-but-dissolved athletic program, Canterbury maintained efforts to restore itself. In the 1990s, however, questionable financial decisions and actions of the headmistress left the school in dire straits. Because of the school's progressive and liberal ideas, and declining attendance at its supporting parish, the school was suffering from a deficient budget. In the 1996-1997 school year, a new headmaster—Peter Meade, Ph.D.—was hired to attempt to salvage the failing school. The School was pulled out of debt within two years with support of the School's Board. Despite the support of the faculty, and headmaster, the financial situation of the school with the original school board's backing was irreparable. The Vestry of the Church (the board that governs the Church's affairs) changed in both philosophy and support for the school. This change made it difficult for the continued commitment of many of the school's board members and that of the Headmaster. One of the ten remaining teaching faculty left Canterbury during its final academic year, 1999-2000, due to its financial situation, forcing the headmaster to teach mathematics in addition to his administrative duties.