SD8 receives more cash as Province releases 'holdback' funding
An extra $152,650 will roll into School District No. 8 (Kootenay Lake) coffers as the Ministry of Education plays catch up with enrollment numbers.
With the school district having 37 more students as of September than was estimated in the May enrolment count last year, the provincial ministry is releasing its “holdback” funding to SD8 and school districts across the province.
A portion of the funds now being distributed will be used to pre-pay the school district’s school protection plan premiums for the 2011-12 school year.
This funding is part of the holdback the Ministry of Education retains for potential enrolment increases throughout the year.
Typically, province-wide enrolment is higher than what districts have predicted — a rise of 37 in SD8 — and this contingency is necessary to cover funding for the additional students. Because district estimates were relatively accurate this year, the Province is in position to share the remaining holdback funds among all school districts.
The Province is providing each of B.C.’s 60 school districts with an additional $15 per student, for a total of $8.1 million.
In September the school district received $33.68 million as its enrolment based funding amount, with $15.9 million in supplementary funding. In February the school, district received an additional $295,578 in supplemental funding.
The total aggregate operating grant from the Ministry of Education for the 2011/2012 operating year was $50.05 million, much less than the amount SD8 superintendent Jeff Jones had hoped for.