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2-The Canadian Champion, Tuesday, May 25, 2004 flItIflEO i ~L~LLL~ E~L~UIF ~ ULNI~ ~7~f~L~3 ED~E~ D~UL~D~ D~B~I Don't Miss Dut On Toyota's... eLow Loeas&ILFinance Rates * e For a Umited Urne, 4*Milton Toyota s Offering.... 2 YEARS or 82,000 KM Worth of ""NO CHARGE" FACTORY MAINTENANCE* When You Purchase a New Toyota Vehicle.i The 2005 Matrix and Corolla have landedl. Last Chance lor BEST DEAL on Remaining 2004 s... 8350640* 180,900* MM» Il10,7450* '30000O** mp omb Su'ftW t 839QQQ00* For more dotails, ses... 400 Steeles Avenue www.mlton.toyota.ca 905 875-1700 824,800* M1.W a Wath Tom' mail Vau ms F o G Ir VohlcI. muet bc dslivered by Jon. 30104 tu qualify - ose Miltan Toyota for detaolt. -Plus Frolght and Applicable Taxes. - t Finance example $20000 at 1.9% per annum equals $571 .88/month for 38 months. COBS s $591.28 for total obligation of $20591 .28 1.9% no limit porchase finanicing up to 36 months on 2004 FtAV4, Sequoia, Highlander, 4 Ranner OAC. 3.8% lease on 2004 Corolla. No securify deposit on 2004/2005 leases with Toyota Credif. OAC/ see deaiL r for dta/ls. Rate sabjecf f0 change June lost, 2004. 1 LTO O)TOYO Catholic sehool uoaru ,deyes $9 million deficit Board may face hard choices to present balanced budget By HOWARD MOZEL Special ta The Champion Although the Halton District Catholic School Board is awaitmng firm provincial fonding numbers for next year, staff are projectrng a $8.9-million ohortfall for the 2004-05 budget. Stili a 'very preliminary proposed budg- et," Education Director Lou Piovesan said at laot Tuesday'o board meeting, the proceso of whittling down the figures wil be challenging - eopecially since by law the board must submit a balanced budget f0 the Province. Although the provincial budget was announced laot Tuesday, board Superintendent of Business Services and Treasurer Paul McMahon said the Ministoy of Education won't release ifs General Legiolative Grants (GLG) for several more days at the earlicot. As a resuit, thc board's first draft of ifs 2004-05 budget is predicated on a number of assumptions, not the Ieast of which is tncorporafing a 2 per cent funding increase for fhe salary and benefit portion of Uic foundaf ion grant. This, aniong oUier fac- fors, said Mr. Piovesan, is responsible for Uic estimafed $8.9-million deficit. 'We hope Uiaf's a worse-case scenanio," said Mr. McMahon. Among the other assomptions is a forther 2 per cent increase for Continuing Education, administration and transporta- t ion funding formulas. Also pani of the equation are Average Daily Enrolment (ADE) numbers, which Uic board has submitted to the ministry in order for grants to be calculated. Staff have estimated an ADE of 17,261.5 elementary students - an increase of 165, or 1 per cent, over 2003-04. An ADE of 8,142 sec- ondary students has been estunated - an increase of 475.5, or 6.2 per cent, over 2003/04. Other enrolment estimates include those for French Immersion and English-As-Second-Language as well as sommer school, intemational languages and adoît education. The board has also projected total pre- liminary operating revenues of $169.7 mil- lion, an increase of 1.3 per cent over 2003- 04. Based on Uie board's assomptions, pre- liminary expenditure projections total $178.7 million - $1 16.8 million for claso- room expendîtores, $6 1.9 million for non- classroom expenditores. 'he result is Uie $8.9 million shortfall. Mr. McMahon told trustees last Tuesday night Uiey will receive an intermediate budget in early June followed by a bal- anced budget later Uiat monUi - alI con- tingent, of course, on Queen's Park coming Urough wiUi funding numbers. It is likely Uiat Uie estimated revenues in foture bodget drafts will not increase by Uie amoont of the shortfall," said Mr. McMahon in bis written report. "Therefore, if will be necessary once again to review the board objectives and - see BOARD on page 16 ýYOTÀA