Tuesday, April 20, 2010

Alberta school boards suffer $33M hit to savings, says auditor's report

(From the Calgary Herald)

After years of recording increasing surpluses, Alberta school boards have experienced a $33-million hit to their savings, according to the latest auditor general's report.

While Alberta Education has asked school jurisdictions to raid their savings to help make ends meet for the near future, school districts have faced funding clawbacks, frozen education grants, and rising costs in the eight months since the latest financial figures were recorded.

And many are saying their piggy banks will soon run dry.

"It's very bleak," said Heather Welwood, president of the Alberta School Boards Association. "From descriptions that school boards are giving, their reserves are rapidly depleting."

Read more here.

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