TCDSB chair looks to calm panic over multi-million dollar deficit
Posted February 22, 2015 7:00 pm.
This article is more than 5 years old.
The chair of the Toronto Catholic District School Board says there’s no need to panic after documents obtained by CityNews were published that shows the board is sitting on a multi-million dollar deficit.
According to one trustee, in order to balance the budget in three years, everything is on the chopping block.
“Increased class sizes, programs that have traditionally been the sacred cows are on the chopping block,” Maria Rizzo told CityNews on Saturday. “My opinion is that it will cripple us.”
But board chair Mike Del Grande said there is no need for parents to panic at this point.
“Our position is this we will do whatever is necessary as much as we can to protect the classroom,” Del Grande said. “I’m not about to panic anyone at this point until we look at what the situation is.”
Not only is the TCDSB currently addressing a structural deficit of $16.9 million, but it also is facing reduced funding from the Ministry of Education of over $25 million.
According to Del Grande, other school boards should take this as a warning as possible funding cuts coming from the government.
“It’s not just the Catholic board that’s going to get dinged two per cent. I dare say this may be an early morning for the other boards,” he said. “The boards many not be aware that that’s coming — but it’s coming.”
Every school board in Ontario is required to operate on an annual balanced budget and the board will be working with finance experts from the Ministry of Education to formulate a special three-year financial recovery plan.
The board has scheduled a special meeting on Monday to discuss two possible plans which they hope will balance the budget in three years. The board also wants to hear from the community on the issue.
