The 吃瓜黑料网鈥檚 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 the spring of each year, the Ministry of Education announces revisions to education funding (Grants for Student Needs) and the amounts that school boards will receive for the coming year. 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. 吃瓜黑料网 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.
As the largest and most diverse school board in the country, the 吃瓜黑料网 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.
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Requirement to Submit a Balanced Budget
By law, school boards are required to balance their budgets by June 30. Should a balanced budget not be submitted by that time (or should there be concerns over a school board鈥檚 financial health), the Ministry of Education has a number of measures at it disposal to ensure school board compliance including:
- Withholding grants payable to the school board when the school board is not in compliance. All or part of a grant otherwise payable to a school board could be听withheld.
- Directing a school board to take measures to become compliant, including through the submission and presentation of a formal action plan that outlines how the school board intends to become compliant. Action plans serve to identify the commitment and level of responsibility of the school board. They also help the ministry to monitor the school board's听progress.
- Increasing the frequency of financial reporting by school boards, through interim financial reports, which could be either quarterly or monthly to proactively monitor a school board鈥檚 financial听health.
- Appointing a team of internal or external advisors to review the financial situation of a school board. Based on the team's findings, the team may help the school board to identify and develop strategies that would result in听compliance.
- Appointing an investigator to review the financial and the administrative affairs of the school board. The investigator would report in writing to the Minister and could make recommendations on specific actions that would ensure that a school board's operation becomes compliant in a specific area or support the school board in meeting its financial obligations. The Minister may then order the school board to implement any action that the Minister deems necessary to address the听situation.
- Upon the recommendation of the investigator, or if the school board does not comply with the Minister's order, the Lieutenant Governor in Council may vest in the ministry, or a supervisor appointed by the Minister, control and charge over the administration of the affairs of the school board. The Minister has the authority to take whatever action he or she considers necessary and appropriate to manage the affairs of the school board in order to remedy the听non-compliance.
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Staff Allocation听听
School-based staff allocation is a key component of the 吃瓜黑料网鈥檚 budget process, with approximately 65% of the Board鈥檚 budget spent on school-based staffing costs. Every year, staff allocation is guided by a number of factors including student enrolment, collective agreements, class sizes caps and averages, and the 吃瓜黑料网鈥檚 commitment to equity, student achievement and well-being.