Reinvestment in school board budgets continues

Budget 2002, will see $1.7 million reinvested in school board budgets, as a result of savings from school closures.

Beginning in 1996, government allowed school boards to retain savings from school closures for a three year period to invest in one-time capital expenditures. Once that three-year period expired, savings were to be returned to government. Instead, in every year since 1996, government continues to allow savings from school restructuring to remain with school boards. This reinvestment to boards brings the total under this initiative to $25.8 million.

Additionally, $8.4 million is being reinvested in school board grants. This funding will assist school boards with payment of 100 per cent of their utility costs, increase in school board support staff benefits and their guaranteed hours of work. Although student enrolment is declining, government will not adjust the amount of funding for boards� operating grants.

"The 2002-2003 budget for school boards is being maintained despite a 17.4 per cent drop in student enrolment in the K-12 education system, and fewer schools operated by boards. Our decision to allow school boards to retain savings for seven consecutive years indicates this government�s commitment to maintaining a superior education system in this province," said Education Minister Judy Foote.

Media contact: Catherina Kennedy, Communications, (709) 729-0048.

2002 03 21                              3:00 p.m.