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N25-02-004

06398

30 Oct 98

EDUCATION ENDOWMENT SCHEME ANNUAL REPORT FOR FINANCIAL YEAR 1997/98

The Education Endowment Scheme, commonly known as the Edusave Scheme, was established in January 1993. An annual report for the 1997/98 financial year has been presented at Parliament and distributed to schools and educational institutions under the Ministry of Education. A copy of the annual report can now be found in any of the public libraries.

2 The annual report for the financial year 1 April 1997 to 31 March 1998 provides general information on the Edusave Scheme; usage of Edusave Pupils’ Fund and Edusave grants by schools and information on Edusave awards (scholarships, merit bursaries and good progress awards) disbursed to eligible pupils during the period. The report serves to inform the public and schools on the Edusave scheme and how schools have used the Edusave funds. The annual report also includes the audited financial statements of the Edusave Endowment Fund and Edusave Pupils Fund. One segment of the annual report covers the new award, Good Progress Award, which was implemented in 1997 to reward pupils who have made significant improvement in their academic performance. The awards are given to a maximum of 10% of pupils per level per stream in every school. A total of 42,238 pupils were given the Good Progress Awards for 1997.

MINISTRY OF EDUCATION