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Toronto District School Board

TDSB Approves Operating Budget for 2023-24

Categories: News News Releases

Trustees continue to highlight urgent need for adequate and stable funding from the provincial government


Toronto District School Board (TDSB) Trustees approved a $3.4 billion operating budget for the 2023-24 school year during a Special Board Meeting this evening. The budget meets the requirements set out in the TDSB’s 3-year deficit recovery plan, as required by the Ministry of Education.


Guided by the 2023-24 Strategic Budget Drivers, the budget prioritizes investments in a number of key areas including, equitable access to learning opportunities, student and staff mental health, well-being and safety, and student success and engagement.


The budget also includes the re-addition of a number of school-based staffing positions that were originally eliminated due to the discontinuation of COVID-19 Learning Recovery Funding by the Ministry of Education. The Board added back 99 positions, at a cost of $10.4 million, in the following categories: social workers, child and youth counsellors, school-based safety monitors, and elementary and secondary vice-principals.


A number of cost saving measures were also identified for the 2023-24 school year, including reducing central staffing and department budgets, and requesting permission to use Proceeds of Disposition (money received upon the sale of TDSB property) to offset operating costs resulting from the continued provincial moratorium on school closures.


Over the past three years, the TDSB was required to deplete its reserves (approximately $69 million) to support the continuation of learning and the safety of students and staff during the pandemic. As a result, there are limited reserves left to offset any future operating shortfalls.


For more information on the TDSB’s 2023-24 budget, please see the approved Final 2023-24 Budget Estimates report.


Quick Facts

  • Section 231 of the Education Act requires school boards to pass and submit a balanced operating budget to the Ministry of Education by June 30 of each year.

  • Budgets are intended to align both human and financial resources to system priorities.

  • School-based staffing was approved by the Board in March 2023, representing 67% of the entire budget.

  • As part of the 3-year deficit recovery plan, the TDSB committed to a $40.4 million deficit in 2022-23, a $15.1 million deficit in 2023-24, and an $8 million surplus in 2024-25.

  • Throughout the year, TDSB Trustees and staff have continued to advocate to the Ministry of Education and the Government of Ontario for adequate, stable and predictable funding that meets the needs of the students of Toronto.

“As Trustees, we have advocated tirelessly this year for the resources and supports required to meet the unique needs of the students of Toronto. Looking ahead, we will continue this important work until the funding provided by the provincial government reflects the actual cost of supporting the academic success, well-being and safety of our students.”
- Rachel Chernos Lin, Chair, TDSB

“In developing next year’s budget, every effort has been made to limit the impact of reductions on students and ensure that all available resources are put toward supporting our classrooms and schools. In cases where Ministry funding is not sufficient to meet the needs of students, next year’s budget allocates additional resources where they are needed most.”
- Colleen Russell-Rawlins, Director of Education, TDSB