Latest news with #trustees
CTV News
4 days ago
- Business
- CTV News
Ottawa school boards watching proposed legislation that gives power to Education Ministry
Trustees at the OCDSB were told they will need to make some difficult choices to avoid a fifth year of budget deficits. CTV's Natalie van Rooy reports. Trustees at the OCDSB were told they will need to make some difficult choices to avoid a fifth year of budget deficits. CTV's Natalie van Rooy reports. The Minister of Education announced broad legislation at Queen's Park on Thursday that could change the future of how school boards operate in Ontario, making it easier to allow the province to take over boards that it believes are acting irresponsibly. The province says this is necessary to address financial mismanagement and to ensure school boards are putting resources into educating children, but critics are raising concerns about the possibility of taking away power from local trustees and putting it into the hands of officials at Queen's Park. 'This is for every board across the province of Ontario. It removes an antiquated and old, outdated system,' said education minister Paul Calandra. 'What it should have is the authority to step in when boards aren't doing what they're doing, what they're supposed to be doing, and when they have gone off the rails, either financially, or on other matters that are important to students, parents and teachers.' The move would also eliminate third-party investigations and recommendations, allowing the province to make the decision to put boards under supervision. 'I think it's really important for there to be an opportunity for the minister to hear from school boards before the decision is made and to only take over a board where the board is clearly refusing to carry out its responsibilities in accordance with the applicable legislation,' said Lynn Scott, the chair of the Ottawa Carleton District School Board (OCSDB). The Elementary Teachers' Federation of Ontario (ETFO) says it's not an education reform, but authoritarianism that's designed to deflect blame, suppress dissenting voices, and tighten political control over a public education system this government has failed to adequately fund. Meanwhile the Ottawa Catholic School Board (OCSB) said in a statement, 'It remains committed to responsible governance, transparency, and decisions that serve the best interests of our students, staff and school communities. We recognize the Ministry of Education's intent is to ensure that school boards across Ontario operate effectively and in alignment with provincial expectations, which is what we have always done as an organization.' The province made the announcement amid a financial investigation into the OCDSB, raising questions about what could happen when the imminently expected report is released. 'We look forward to seeing what the findings are and to working with the province to make sure that any deficiencies are corrected moving forward,' said Scott. Parents with children at schools within the board also weighing in. 'It sort of comes as a surprise to hear that while we're waiting for those results, we're now being told that going forward we won't have third party involvement,' said Michelle Bertram, a parent in Ottawa. 'That's my first question, is with the timing. I'm just surprised because we have been told wait for the results of those investigations done by third parties.'
Bloomberg
6 days ago
- Business
- Bloomberg
Hong Kong Asks Pensions to Form Plans In Case of US Rating Tweak
Hong Kong officials told the city's pension funds to formulate appropriate strategies in the event of 'any significant market events' regarding the credit rating of the US government debt. The Mandatory Provident Fund Schemes Authority, which regulates Hong Kong's pension system, said in an emailed statement on Wednesday that it had recently reiterated a reminder to all MPF trustees to evaluate the potential implications if the US loses its last AAA rating by an approved agency.
News.com.au
26-05-2025
- Business
- News.com.au
English lord responds to son's $177 million inheritance
An English lord has blocked his eldest son from taking over the family's £85 million ($A177 million) estate because of his 'lack of achievement'. The Earl of Yarmouth, William Seymour, was left out of the fortune after a fallout, The Sun reports. According to the BBC, the 31-year-old took his parents and three siblings to court over the estate, which included the 400-year-old family seat Ragley Hall, in Warwickshire. Lord Yarmouth asked for the two trust corporations to be removed as trustees and replaced with an independent one. Lord and Lady Hertford, along with Lord Yarmouth's siblings – Lady Gabriella Seymour, Lord Edward Seymour and Lady Antonia Seymour opposed the legal claim. The three settlements which consist of the estate, including farmland, residential properties and woodland, are valued at around £45 million ($A93 million). The court heard that while William held a 'very earnest belief' that the trustees failed in their duties in the way Ragley was run, it was unfounded. In his ruling, Judge James Brightwell said he accepted the 'damaged and fractured' relationship between Lord Yarmouth and his parents and siblings was 'poor'. The judge added the bad relationship between William and his parents wasn't enough to remove the trustees. Ragley estate, which is 6,500-acres, includes a 110-room mansion, farms, a sprawling woods, and hundreds of acres of parkland. It has been in the Seymour Family for about 400 years, and has connections to Jane Seymour, Henry VIII's third wife. The Earl of Yarmouth has been embroiled in the public spat with his family since 2018. The aristocrat complained that his parents had led him to believe he would take over the running of the estate when he turned 30. William also claimed his parents weren't happy he wanted to marry former Goldman Sachs banker Lady Yarmouth, Kelsey Wells. The court previously heard that William, who was worth £4 million at 21, had not been interested in the estate until he met his wife Kelsey. After their marriage, William began complaining about how the estate was being run and argued his wife was being shown 'disrespect' for not being invited to the trustee meeting. His father, Lord Hertford, told the court he had planned for his son to take over the estate but changed his mind – believing he was no longer 'appropriate' for the job. He said William and Kelsey marrying was not the 'main reason' for the decision, but rather his son's 'lack of achievement'. In evidence, he said: 'I am proud of the fact that he went to college but made a mistake at university and didn't graduate. 'William has not followed a profession or obtained qualifications or experience to take over the running of Ragley Hall.' The judge ruled that Lord and Lady Hertford had obviously shown 'deep antagonism' towards their daughter-in-law. However, the judge said that the son's dispute as to the way Ragley is run was not well-founded. 'The fact that the claimant has a very earnest belief that the trustees have failed in their duties or should have acted differently, in an unspecified way, is no sufficient basis for a finding that they have so failed in their duties,' the judge added.
Yahoo
26-05-2025
- Politics
- Yahoo
Learning, inclusion, mental health top Edmonton Public Schools education plan
Edmonton Public Schools (EPSB) is entering the final year of its 2022–2026 Four-Year Education Plan, reaffirming its commitment to student success, mental health, and anti-racism initiatives. As the division prepares to welcome over 120,000 students in the upcoming school year, the final year's plan aims to guide efforts across the division, remaining focused on enhancing pathways to success for all students. Each year, EPSB submits a Four-Year Education Plan to Alberta Education, aligning it with the approved budget. The plan is developed using data, stakeholder engagement, provincial planning documents, and the division's own strategic plan. Progress on the plan's actions will be reported in fall 2025 through the Annual Education Results Report (AERR) and results review process. Brought before trustees for approval on Friday, the plan outlines the division's strategic goals and provincial assurance framework, reporting cycles, and funding manual for the 2025–2026 school year. The plan is built around three key priority areas. Under 'Priority One: Outstanding learning opportunities,' the division is focused on helping teachers implement new curriculum to build on outstanding learning opportunities for all students, the report said. For example, targeted professional learning and resources for Kindergarten to grade 6 teachers has been well received, with 84 per cent of certificated staff who accessed support saying it was helpful, according to Division Feedback Survey (DFS) results. The plan emphasizes evidence-based strategies to support strong literacy and numeracy outcomes and ensures learning remains responsive to the needs of all students. Experiential opportunities will also help students explore and plan for their futures. Under 'Priority Two: Anti-racism and reconciliation,' the Division reaffirms its commitment to anti-racism, reconciliation, and equity by engaging with staff, students, families, and community members. Select DFS results from students, staff and families shows strong perceptions of diversity, with: 78.5 per cent of grades 4 to 12 students agree that many diverse cultures are represented in the books and materials at their school; 89.3 per cent of staff share this view; and 86 per cent of families agree that many diverse cultures are represented in the events, activities, and environment of their child's school. EPSB Superintendent Darrel Robertson acknowledged concerns from those who feel dissatisfied with the influence of advisory committees such as the equity advisory committee, and that he's 'really interested in to hear what folks have to say in terms of that work and what's happening,' but noting the division must prioritize complex work over time. 'Sometimes that work doesn't move as fast as people would like, so they may walk away with feelings of dissatisfaction… It doesn't mean that their contribution isn't valuable. It's just that we need to be realistic in terms of how it is that we sequentially move this very complicated work forward and what we prioritize,' he said. 'There are folks that are very set on inclusion is the only option for children with complex needs to participate in our public education system,' he added. 'But we also know that that parent choice is very important to many, many others. So having that singular idea of how things can work can sometime lead people down the road of walking away from the experience being less satisfied than what they anticipated,' he said. Under 'Priority Three: Mental health and wellbeing,' the division said promoting student and staff well-being remains a central focus of the plan, outlining efforts to strengthen school communities that foster a sense of belonging, safety, and success. Collaboration with external partners will guide the strategic use of resources to support these goals. Select DFS results show students' positive feelings of belonging and safety, with: 63.2 per cent of Grades 4 to 12 students agree that their school is a place where all students feel like they belong; 70.7 per cent of students feel like they belong at their school; and 74 per cent of students feel safe at school. cnguyen@ Understanding the 2025-2026 budget for Edmonton Public Schools: What's changing and why it matters Edmonton Public Schools reviews annual class size report amid growing enrolment pressures Bookmark our website and support our journalism: Don't miss the news you need to know — add and to your bookmarks and sign up for our newsletters here. You can also support our journalism by becoming a digital subscriber. Subscribers gain unlimited access to The Edmonton Journal, Edmonton Sun, National Post and 13 other Canadian news sites. Support us by subscribing today: The Edmonton Journal | The Edmonton Sun.
South China Morning Post
26-05-2025
- Business
- South China Morning Post
Hong Kong's MPF managers told to prepare for US bond holdings after Moody's downgrade: MPFA
Fund managers participating in Hong Kong's US$167 billion Mandatory Provident Fund (MPF) scheme may be forced to sell part of their holdings of US government bonds after the country lost its triple-A grade from three of the biggest rating companies. The Mandatory Provident Fund Schemes Authority (MPFA), the scheme's regulator, has instructed MPF trustees and fund managers to prepare for a contingency plan if the last remaining credit agency downgrades the US government bonds. 'Recently, the MPFA reiterated this reminder to all MPF trustees, urging them to evaluate the potential implications on MPF funds in consultation with relevant investment managers in view of the latest market situation,' the MPFA said in reply to a query from the Post on Monday. It also asked the 'trustees to formulate appropriate strategies and mitigation measures in case the US does not meet the definition of 'exempt authority' due to changes in credit ratings'. The MPFA said such preparation would be needed as the authority had no plan to change the current investment requirements. It would be the responsibility of the MPF investment manager to 'formulate suitable compliance contingency plans and make timely and orderly adjustments to their asset allocation in response to possible market developments while acting in the best interests of MPF scheme members', the MPFA added.
