$2,890,387 for the Upper Canada District School Board;

$1,304,938 for the Catholic District School Board of Eastern Ontario;

$1,433,687 for the Conseil des ecoles publiques de l'Est de l'Ontario;

$1,703,555 for the Conseil scolaire de district catholique de l'Est ontarien.

The new funding formula, which comes after an earlier $781-million announcement in March, includes $20 million earmarked to reduce primary school class sizes by hiring more teachers.

Another $12 million was reserved to help with transportation costs - a major concern for rural boards, which have to bus students further distances to school than urban boards.

News of additional transportation funding was well received by Art Buckland, the public board's trustee for North and South Stormont and North and South Glengarry.

"We've been campaigning for equality in the transportation funding," said Buckland. "We're not receiving the same allotment as our sister boards."

Cornwall trustee David McDonald echoed his colleague's remarks, saying the new funding formula - which also includes $20 million for school maintenance and operations - showed the province was listening to the concerns of rural boards.

"They're starting to change the way they fund their rural schools," said McDonald. "Whether you have 80 kids in the school or 200 kids in the school, it still costs money to operate that school."

The Upper Canada board is approximately $6.7 million in debt, and it would be up to trustees to decide whether to divert some of the new funds in that direction, said McDonald.

He said he preferred to stay on the board's existing schedule, which would see that debt wiped out by 2010-11.

English Catholic board chair Ron Eamer said while the funding would be spread fairly thinly across the province, he welcomed any financial commitment from Queen's Park.

"There won't be a lot of money (going) to any one area, but it's certainly good news," said Eamer.

Tuesday's announcement comes less than two months before Ontarians go to the polls in October, but Liberal MPP Jim Brownell was adamant the cash was not an election ploy.

Rather, the new funding is another example of the party's commitment to education, said Brownell, a former teacher.

"We have made investments every year (in education) since we got elected and we continue to make investments," he said.

While the money for the coming school year is guaranteed, the 2008-09 funding could be in jeopardy if the Liberals don't win the fall election, said Brownell.

"We can put it in place, I would say, but it's up to the electorate to hold a government to account," he said.

In his announcement, McGuinty said that finding the right education funding formula is "forever a work in process," adding the province should review the formula again in a few years' time.