The Saskatchewan government unveiled details of a new funding formula for education in the provincial budget Wednesday.
Under the new model, decreases to a school division's tax revenue will be offset by provincial funding. If a school division's tax revenue increases, its grant funding will decrease accordingly.
Education Minister Donna Harpauer says the new model will ensure school division funding is equitable across the province.
Funding for school divisions will increase five per cent to $1.74 billion. That includes $10 million in transition funding to mitigate the financial impact of the new funding model on school divisions.
In addition, the government will allocate $4.3 million for initiatives to improve education outcomes for First Nations and Mètis students.
The province also plans to spend an additional $600,000 to help school divisions assess the readiness of new immigrant students and to support children in English as an additional language programs.
The education budget includes an $112 million increase in capital spending to build three new schools and complete 21 previously approved major school projects. Funding for upgrades to schools will also increase by $10.9 million.
Post-secondary institutions will receive $890.6 million – an increase of 4.1 per cent over last year. The government expects annual tuition fee increases will hold steady at four per cent.
The budget also includes $107 million in funding for programs such as student loans, bursaries, training allowances, the Skills Training Benefit, the Graduation Retention Program and scholarships.
The government also plans to follow through on its election promises with three new post-secondary initiatives.
One is the new Saskatchewan Advantage Scholarship, which offers $500 a year, to a maximum of $2,000, to Grade 12 students who attend one of the province's post-secondary institutions.
The government will also forgive student loans of up to $120,000 for new doctors and up to $20,000 for new nurses and nurse practitioners who work in underserved rural and remote communities for five years.
In addition, the Saskatchewan Advantage Grant for Education Savings will come into effect in January 2013. The initiative provides a 10 per cent grant that matches Registered Education Savings Plan contributions to a maximum of $250 per child annually.
Post-secondary institutions will see a total increase of $12 million to help cover operating costs.
Other education budget highlights include:
• A $2 million increase to create 500 new child care spaces and $4 million to cover capital costs. Most of the spaces will be in schools or post-secondary institutions
• $2 million to develop 15 new pre-kindergarten programs
• $500,000 for summer literacy camps in 20 communities across the province
• A 1.6 per cent funding increase for libraries and community-based organizations, including child care centres
• $109 million for skills training and labour force development
• $47 million in funding for post-secondary education and skills training for First Nations and Mètis people
• $13 million to continue delivering the Saskatchewan Immigrant Nominee Program and provide settlement, integration services and other supports for newcomers
• $17 million for science and innovation initiatives, including increases to the International Vaccine Centre and light source and water research
• $1 million for a new student residence, child-care facilities and a parkade at the University of Regina
• $1 million to continue construction of the new Southeast Regional College
• $13.5 million to train 300 additional nurses and 100 more doctors a year, while increasing the number of nurse practitioner seats by five
