Government reinvests savings in school system Government continues to put savings associated with school consolidation back into the hands of school boards, and in Budget 2003 will reinvest $8.5 million into the system. "In 1997, government committed to school boards that savings realized as a result of consolidation and reorganization would remain with school boards for a three-year period for use on capital expenditures," said Gerry Reid, Minister of Education. "Despite declining enrolment, government met that commitment and even since the expiration of the three-year period, government has continued to leave those savings with school boards. In 2003-04, we will reinvest $8.5 million, representing a significant infusion of money back into the education system in the province." Government has invested a total of $45 million from consolidations into the school system, in addition to $176.8 million for new capital construction and school maintenance and repair. Including the $8.5 million for 2003-04, this represents a total investment by government of $230 million into the system since reorganization in 1997. Media contact: Elizabeth Matthews, Communications, (709) 729-0048, or (709) 727-3438 2003 03 27 3:10 p.m. |
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