Nanaimo school district and Nanaimo-Ladysmith Schools Foundation have cemented their relationship with the signing of a memorandum of understanding.
The arrangement formalizes in writing a relationship that first started when the schools foundation was formed as the Nanaimo Schools Financial Awards Society in 1982.
Amongst the terms, the school district will provide operational items to the foundation, such as staff, office space, supplies and equipment, while the foundation will provide financial awards such as scholarships and other support to students in the school district.
For the 2013-14 school year, the school district will provide approximately $140,000 for operational items while the foundation will provide more than $500,000 in student support, including an estimated $420,000 in scholarships and $30,000 raised through this year’s Stock the Lockers campaign for needy students.
“It really represents a symbiotic relationship, one of usefulness to both groups, where our hard work as volunteers supporting students in this learning environment and your hard work as trustees supporting students in this learning environment, come together,” said schools foundation president Patrick Ross at a recent school board meeting.
School board chairwoman Dot Neary said in a statement that the formalization of the agreement would benefit students greatly through the continued support and fundraising efforts from the schools foundation.
The agreement will be reviewed every three years.