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:

2021 - 2022 Financial Statements
2020 - 2021 Financial Statements
2019 - 2020 Financial Statements
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, 2022
August 31, 2021
August 31, 2020
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, 2021
TLC - August 31, 2020
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.