Government and Dufferin- Peel Catholic District School Board welcome return to financial stability

The McGuinty government and the Dufferin-Peel Catholic District School Board (Dufferin-Peel) announced that trustees are once again in charge of the board in recognition of its return to financial stability and a commitment to a sustainable future.

"We are pleased to return full control of board finances to local trustees and we are confident that decisions moving forward will keep board finances in balance and ensure students have the programs they need," said Education Minister Kathleen Wynne.

In the past year, the board's financial position has improved considerably. In June, the board forecast a reduced deficit of $1.7 million. New funding announced earlier this month for all boards will increase funding for Dufferin-Peel by $7 million, for a total increase of $43.5 million for the 2007-08 school year. This increased funding will allow the board to eliminate the projected deficit and file a balanced budget for 2007- 08.

"We appreciate the government's recognition that funding benchmarks have created serious budget pressures for school boards," said Bruno Iannicca, board chair. "The government has clearly demonstrated a willingness to increase the benchmarks and give boards the resources they need to better meet student needs. We welcome this step and look forward to 2010 and the review of the funding formula."

Other changes at the board include the approval of new financial bylaws to govern financial decision-making and the implementation of a new budget process which includes a significant role for the public.

As a result of the decision to return full authority to trustees, the service of the co-management team chair, Norbert Hartmann, is complete as of Aug. 31. He was appointed in October 2006 to assist the board in balancing its budget.

"Since coming to office, the McGuinty government has been doing business differently with boards, respecting the work they do at a local level with students and their communities," said Wynne. "I put great value on the role of trustees in serving their communities and their schools. We can now start a new chapter in working together for the people we serve."

"Trustees are unequivocal in their commitment to ensuring the future financial stability of this board," said Iannicca. "We are pleased to turn the page and, in a spirit of co-operation and collaboration, focus on our common goal to give Dufferin-Peel students the tools they need to achieve success. This is a good day for Dufferin-Peel."