“Education Matters,” but it’s pricey, too!
Posted Oct 9, 2010 10:44 am.
This article is more than 5 years old.
A scholarships-grants program, operated by the Calgary Board of Education, spends about half of its annual income on administrative and fund-raising costs, money that could be better spent. That’s according to Laura Shutiak, a candidate running for school board trustee.
Last year, “Education Matters” received $750,000 from the CBE, a significant portion of the $1.7 million it raised in 2009. But the Calgary Herald reports $600-thousand was spent on administration of the program and another $260,000 for fund-raising costs.
The net gain: $840,000.
The endowment fund now sits at $1.2 million, but it could be 30 years before it is self-sustaining.
Shutiak believes the school board’s contribution of three-quarters of a million dollars could be better spent on programs or teachers.
But Pat Cochrane, who sits on the scholarships-grants board and is running against Shutiak, believes the “Education Matters” program is a long-term project that will eventually produce huge benefits.
