Toronto District School Board
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School & TDSB Budgets and Financial Statements

Budgets and Financial Statements

TDSB Budget

School boards are required to submit a balanced budget plan to the Ministry of Education at the end of each school year. At the TDSB, public consultations are an important part of the budget process. Each year, we post information about our financial outlook for the upcoming school year and hold ward forums and community consultations to give you an opportunity to share your priorities before any decisions are made. 

Financial Statements

We prepare and post externally audited statements, detailing the financial position of the TDSB, annually:

2018 - 2019 Financial Statements
2017 - 2018 Financial Statements
2016 - 2017 Financial Statements
2015 - 2016 Financial Statements
2014 - 2015 Financial Statements
2013 - 2014 Financial Statements 
2012 - 2013 Financial Statements 
2011 - 2012 Financial Statements 
2010 - 2011 Financial Statements  
2009 - 2010 Financial Statements 
2008 - 2009 Financial Statements  
2007 - 2008 Financial Statements  
2006 - 2007 Financial Statements 
2005 - 2006 Financial Statements 
2004 - 2005 Financial Statements  


Financial Statements - TDSB Trust Funds:

August 31, 2019
August 31, 2018
August 31, 2017
August 31, 2016
August 31, 2015
August 31, 2014
August 31, 2013 and August 31, 2012

Financial statements – Toronto Lands Corporation

TLC - August 31, 2019
TLC - August 31, 2018
TLC - August 31, 2017
TLC - August 31, 2016

School Budgets

All schools have annual budgets that are used to support classroom programs. Money provided is based on the school budget allocation model. Although a model is used to determine amounts, schools have flexibility in administering their budgets. Find your school budget.

The model is based on the following principles:

  • Provide an equitable distribution of discretionary funds to schools
  • Enhance local ability to plan for the full school year by informing schools of the discretionary funds available to them at the beginning of the school year
  • Enable flexibility for the schools to spend discretionary funds to meet the needs of their students
  • Provide a clear understanding of school budget responsibilities and a reporting process that enhances local accountability

With the exception of special education funding, the school budget allocation model is not prescriptive in the way schools can spend their funds. The model allows the central budget department to allocate resources to schools for discretionary purposes. 

Schools are encouraged to establish a school budget committee and must include school council representatives in developing their expenditure plan. This plan should be reviewed with the school’s Superintendent to ensure that the curriculum objectives for the year are supported by the school’s expenditure plan.

School budgets are calculated based on: enrolment, credit information and special education supplementary teacher allocation data. 

To supplement base allocations, additional funds are provided for certain programs that have been identified as having a higher cost.

Update 2019-20: School Budgets and Supplementary Allocation for Specialized Schools/Programs

As part of last year’s budget process, school budgets were reduced and supplementary allowances for specialized schools/programs were eliminated. The chart below provides a school-by-school breakdown of the following information: overall school budget, school budget reduction amount, program reduction type, and LOI ranking. Changes in school budgets are a result of both budget reductions and changes to enrolment. School carryovers for the past two years and five year average are also included in the chart.  School carryovers include both school budgets and non-board funds (e.g. fund raising, fees, etc.). 

The School Support team is working with schools to assist in the realignment of their budgets so that they can continue to support the programs that their schools have traditionally offered with the pool of funds they have available to them.

The School Support team is working with schools to assist in the realignment of their budgets so that they can continue to support the programs that their schools have traditionally offered with the pool of funds they have available to them. 

The vast majority of specialized schools carried over funds from year-to-year. Schools continue to have access to the surplus amounts that they carryover and these amounts were not be reduced. The majority of specialized schools have more carryover than the amount of the supplementary allowance that was eliminated as part of last year’s budget process. In the small number of schools where this is not a reality, the School Support Team will work closely with the schools to ensure that their budgets can continue to support the programs they offer. If any further budget it required, we will look to the TDSB’s equity fund to support these schools.

School-by-school budget information for the 2019-20 school year