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The Canadian Champion, Tueaday January 29â, 2002- eBudget pressures looming .-Booths now available at the public school board Halton District School Board business superintendent Caria Kisko had nnmediate good news and Iooming bari news for trustees at last week's board meeting. She told them, thse board was on target ta date to reach its original budget figure of $283.8 million for 2001-02, which bas since been revised to $284.6 million. However, provincial funding for- mula pressures and particularly returemelit gratuities continue to cause concemn about reaching budget projections by thse end of thse fiscal year, sald Ms Kisko. A $2.8 million overail deficit is forecast for thse carrent year after factoring in an expected $5 to 6 million in retirement gratuity pay- ments in 2002. TIse amount pald out in 2001 was $5.7 million. "It is an outstanding problemn for lots of boards of about $160 mil- lion" in coming payments, ase told trustees, "and that is significantly up. In most cases it is being addressed through reserves." Ise Halton public board used most of its reserve fund last year to eliminate its $2.2 million budget deficit. Ms Kisko sald tIse board bas an unfunded liability related to future gratuity payments but that the amount isn't known because it bas not been determined actuarially. Not word from Province Ms Kisko said appeals have been made to thse provincial govemmuent for ald in covering retirement gra- tuities but nu word bas been received. Gratuities are part of teachers' negotiated agreements and have been offered at tIse Halton board for at least 30 years. They consti- tute a lump-sum payment upon retirement. Most fuli-timne employees of tIse board, including principals and administrative staff, are entitled to gratuities. The payout is calculated by con- sidering an employee's years of service, number of banked sick days and their annual salary. The amount pald is equal ta thse lesser of 50 per cent of tIse annual salary or tIse ternis of employment. A teacher gets 20 sick days over 10 montha. Those unused are banked and carried over ta tIse next sehool year. Prior ta 1998 sebool boards were able ta keep tIse différence between retiring and new teachers' salaries and that usually paid for thc for- mer's owed gratuity. About 150 teachers left Halton last year. for Showcase Milton Pollowing thse sueceas of lai yars' Showcase Milton, tise matons Cliamber of Commerce lba decided to hst tise eveua in 2001. 'Iis yest's Sbowcase Milton wili lie beld May 24 to 26 at Memorial Arena ou Tlhompacta Road. .Boothi coominsers and exlhtt wett extremely pleaaed wils tie succes of Wasyear'a show," sad Sandy mafia, executive diruer of tise Milton Chamber of Commerce. gube show provides an excellent opporUnity for local buainesme to iro- duce their producta ta Milton's expanag rosi- de"la bas. lt's "ls a great way fer new and current iaidenw bo lem more about Ibeicomamu- A coeunitse oflvlse teers nte reaonsb for the show's maaement WVe're going to bàWl on the gret base we establishd i 2001 wiih eveta mom activis, dWa ploa and prizes" sail Jamie ICrans, comme chair. .We wer also able to rimve the shw forward c week, in response to requsae from Our exhiWtors."1 Along with produet for the home and garden, Sbowcase' Milton will feame travel, enlutan- mentfihaiss, nitonotive, malC - Mid hmnuiee "ýwe have already W. a lot Of i110es5t frola 5emtU5 exhi2ton to te 2002 shw,"& M m mari ..Mny bualneases wes sorry they missed oSt lan Year Md nse very ben to becoine mvolvd ii 2002. We expect tlsat hais will sal ont veay quscky afler kam year's succesa" Boo"h willgo on sale Februay il at the Milton Chamber of Cmmerce office. 'lb reaerve a bootis or for more information, eaU Andrea at (905> 878- 0581. R lIA SONCHEVROLET.-OLDSMOIILE SATS... oti$TPAY P DA&YS'Nç On Purchase Financing NO Down Payment NO Payments NO Interestl Generat Motors pays the interest 1 LS On Purchase Financîng on virtuail ail 2002 vehicIest CHEVROLET-GLDSMOBILE HWY. 25 S. AT DERRY RD., M ILTON Main Si. oerry Rd U~L 8781z393i