School Districts within British Columbia now have a little extra spending money at their disposal.
On Wednesday, the Ministry of Education announced that B.C. school districts will be receiving $8.1 million in holdback funds. The province will immediately be providing each of the 60 school districts within the province an additional $15 per student.
The money is part of the Ministry of Education’s holdback, which retains money for potential enrollment increases throughout the year.
Due to accurate estimates by the province for potential enrollment, the province was able to share the remaining holdback funds among all school districts. Usually the province enrollment rate is higher than predicted and the holdback is necessary to cover funding for the additional students.
Minster of Education George Abbott says “a combination of prudent fiscal planning by government and accurate enrollment predictions by school districts mean more money is available for every district.”
With regards to the Peace Region, school district 60 received approximately $246,435, with $82,000 received from the holdback funds and the remaining $164,435 allocatd to the enrollment based funding. School district 59 in the South Peace received $45,832.
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