TDSB ends year with surplus
Despite crying deficit all last year, the Toronto District School Boardended the 2009 school year with a sizable surplus of $8.7 million — oneof the biggest the board has seen in a decade.
Despite crying deficit all last year, the Toronto District School Board ended the 2009 school year with a sizable surplus of $8.7 million — one of the biggest the board has seen in a decade.
At the end of the day, we came out of it with our head out of the water,” said Trustee Bruce Davis, the board’s finance committee chair. The surplus was the result of spending restraints, lower than expected sick leave payouts, smaller bills for natural gas and an overall boost in enrolment.
“Most of our funding is through a provincial funding formula, so if you have more students you have more funds,” said Davis. “I think $4-million of the surplus was attributable to that enrolment.”
The TDSB has an annual budget of $2.5-billion and schools managed to raise $44 million through student fees and parent fundraising in the last year.
Don Higgins, the board’s executive officer of business services, said a surplus of about $3 million was forecast in the budget last year.
Last year, concerns of a growing deficit forced the closure of pools and saw cuts to 36 teacher-librarian jobs and 150 educational assistants.