On January 27, 2020, OECM announced the Board of Directors’ approval on a funding provision of $2.25 million to the Education Sector Success Sharing (ESSS) reserve. The ESSS was established as an opportunity for surplus funds generated through collaborative spending on OECM contracts and not required by OECM for operational expenditures, to be invested back into the education sector to facilitate opportunities for collaboration. Learn more about this initiative here.
This year, OECM’s ESSS reserve has made a tremendous impact in the education sector by allocating more than $3 million to School Boards, Colleges, and Universities across Ontario, through their business administration coordinating groups: the Council of Senior Business Officials (COSBO), Administrative Services Coordinating Committee (ASCC) and Council of Senior Administrative Officers (CSAO).
The ESSS reserve fund is intended to help facilitate and accelerate collaboration, strategic partnerships, and foster innovation. The breadth of current projects supported by the ESSS reflects this and includes initiatives spanning Information Technology, Data Harmonization, Learning Tools/Portals, and many other strategic priorities.
Going into 2022, OECM is committed to expanding the reserve fund concept to municipalities by establishing even stronger alliances with our municipal partners to invest back into priority projects they identify.