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Developing the 2021-2022 Budget

Latest Budget Update: On October 15, the TDSB participated in the Ontario Ministry of Finance’s Fall 2020 Ontario Budget virtual consultation and shared concerns about the financial impacts of the COVID-19 pandemic on the TDSB’s budget. The presentation touched on the following areas that require additional funding so that students and staff can be fully supported: In-Person/Virtual Models of Education, Special Education, Mental Health and Well-Being, PPE and Cleaning Supplies, and Supply Teacher Costs. The presentation also referenced the TDSB’s continued advocacy in the areas of Renewal Funding and access to Education Development Charges. Please read TDSB Chair Alexander Brown’s written submission to the Ministry of Finance for more information.

 

The Budget Process

 Prior to this past year, the Ministry of Education announces revisions to education funding (Grants for Student Needs – GSNs) and the amounts that school boards will receive for the coming year in the Spring. Funding for education is determined through a set of provincial benchmark costs for the major components of education operations, as well as the number of students. By law, school boards are required to balance their budgets by June 30. TDSB Trustees and staff work together to create a balanced budget that best supports the achievement and well-being of all students within the funding provided by the province. This past year, due to COVID-19 pandemic, funding was not announced until June and boards were given until August 15 to submit their balanced budget. The timing for the 2021-22 GSN announcement from the province is still to be confirmed.

 

The TDSB’s annual operating budget is approximately $3.4 billion and we are committed to using these resources as responsibly and effectively as possible. However, the funding provided by the government does not fully meet the needs of students in Toronto. In addition, the COVID-19 pandemic will continue to have a significant impact on the TDSB budget into next year. Read more about the TDSB’s key funding priorities and concerns, including the financial impact of COVID-19, in the Chair’s written submission to the Ministry of Finance as part of the Fall 2020 Ontario Budget consultation.

 

As the largest and most diverse school board in the country, the TDSB has a unique set of needs when it comes to what is required to best support our students and communities. To ensure that we continue to support all students, we developed the Multi-Year Strategic Plan to set direction and identify system goals. The focus of the Multi-Year Strategic Plan is to ensure that every student has equitable access to programs and resources, and increased opportunities that lead to success.

 

 

Finance, Budget & Enrolment Committee Meetings

 Currently, the Finance, Budget and Enrolment Committee (FBEC) meetings are being held virtually and are broadcast live to the public. Please note, the schedule of meetings below may change during the budget process.

Date Budget Milestone Reports Meeting Webcast
October
14
Pandemic funding and cost update Report: Pandemic Funding and Cost Update Recorded Webcast
November 3 Budget schedule

2021-2022 Budget Schedule for Feedback

 

Capital Issues: Update

Recorded Webcast
November 25

Update on reserves status as a result of 2019-20 operations

 

2020-21 Enrolment update

 

Update on 2020-21 Revised Estimates

 

Review of 2020-21 strategic budget drivers and discussion of proposed 2021-22 drivers

Reserve Status as a Result of 2019-20 Operations: Update

 

2020 Actual Enrolment: Update

 

2020-21 Revised Estimates: Update

 

Draft 2021-22 Budget Strategic Drivers and Consultation Plan

Recorded Webcast
January 2021

Finalize 2020-21 strategic budget drivers

 

Three-year financial projections and budget strategy

 

Update on provincial consultation on 2021-22 budget

 

Discussion of public budget consultation plan and timelines during COVID-19 pandemic

 

Three-year enrolment forecast

   
February 2021

Finalize public consultation plan on 2021-22 budget

 

Update on Grants for Student Needs announcement from Ministry (if available)

 

2020-21 First quarter financial report

   
March 2021

2021-22 School based staffing allocation

 

Update on Grants for Student Needs announcement from Ministry (if available)

   
April
2021

Staff analysis of Grants for Student Needs with release of detailed budget working papers (if available)

 

Capital revenue analysis based on GSN announcements (if available)

 

Update to financial projection based on Grants for Student Needs and recommended options to balance (if available)

 

2020-21 Second quarter financial report

   
May
2021
Presentation of 2021-22 Operating and capital budget - Draft report    
June
2021
Approval of operating and capital budget for submission to Ministry    
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