TVDSB trustees slash budget deficit to $7.6M, blame province for shortfall
Global News
The board originally had a shortfall of $30 million, but trustees and staff managed to slash it down to $7.6 million over the course of a marathon meeting.
The Thames Valley District school board (TVDSB) Tuesday passed its new 2024-2025 budget last night. It included a $7.6 million budget deficit.
The board originally had a shortfall of $30 million, but trustees and staff managed to slash it down, in compliance with the Ministry of Education, over the course of a marathon meeting.
“I know we all know that that was a significant hurdle for staff, but they’ve used their expertise and understanding of our educational priorities and our financial realities to make changes to the budget,” said board chair Beth Mai.
“They’ve used their expertise and understanding of our educational priorities and our financial realities to make changes to the budget. Through that careful planning, they have successfully reduced the initial budget deficit.”
The deficit, according to the board, was driven by unfunded statutory benefit costs, special education costs, and costs for staff absence replacements. In order for the deficit to be compliant with the Ministry’s requirements, it must be less than or equal to one per cent of operating revenue.
During the meeting, many trustees expressed frustration with Queen’s Park, saying that the province had shorted the board $30 million in funding.
“No matter which way we turn, the ministry is not being helpful, and the ministry is not providing us with the funding that we need in order to balance our budget and do right by students,” London trustee Sheri Polhill said. “How exactly does the ministry deem it appropriate for us to not use our reserves while they owe us $30 million, and then force us to be compliant?”
Polhill said it’s not the TVDSB’s fault, and that the board has to “make sure that we do the best we can with what we’re provided.”
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