The Three-Year Capital Budget Plan approved by the Board of Trustees in June 2016 outlines significant investments in schools for the future. It includes both current capital expenditures required to address growth in our system over the next three years as well as future capital priority projects to address growth as identified through the annual planning process and shown in the June 2016 Long-Term Program and Accommodation Strategy (LTPAS).
TDSB is working to strike a balance between having the school facility capacity to meet the educational needs of residential growth in Toronto while also reducing the number of school spaces in areas where not needed. That requires us to weigh our future capital needs with urban growth in the City.
The Capital Budget also includes changes in assumed revenues due to market valuation differences and changes to project costs. For the year ending August 31, 2016 it is projected that the capital fund balance will be $21.6M.
Following are links to more detailed information:
Impacts on Capital Planning
On February 10, 2015 in response to the Wilson Report and Directive #9, the TDSB approved staff to undertake community consultations on previously-decommissioned sites that are with the Toronto Lands Corporation (TLC).The Board and TLC staff will begin consultations in the fall of 2015 and early 2016. Prior to community consultations, staff will meet with city planning and community agencies to consider other uses for these buildings. Read our fact sheet for a list of these sites.
While the Board will continue to invest in schools that are in urgent need of school repairs, we will continue to push for equal access to Educational Development Charges (EDCs) to address the impact of growth on schools in City's designated growth areas. Read our fact sheet for more information about the sources of revenue for the TDSB.
While our school repair backlog has exceeded $3.5 billion (July 2016), the Board will continue to utilize the additional $112 million in funding received from the Ministry to repair and modernize our schools. Read our fact sheet that explains how we plan to use this money to repair our schools.
Commencing in September 2015, for all new capital projects, the Ministry of Education directs the use of Proceeds of Disposition (POD)
to school renewal following the guidelines of the School Condition Improvement (SCI) policy. Funding for new schools or expansion of existing schools is approved through business case submissions for Capital Priorities Grants.