The annual operating budget - which includes ALL monies for schools and classrooms - is guided by the Board’s Multi-Year Strategic Plan.
Annual consultations by the board and elected trustees are to take place prior to the final budget is approved. The budget process begins in January, and the final budget is normally approved at either the May or June Corporate meeting.
Any parent input needs to be provided early in the process to have an impact. Delegating at a Corporate meeting from January to March is always more effective than participating in the Board's consultation process.
Annual Budgets MUST be balanced based on Education Act requirements.
Board staff provide a list of recommended capital projects - e,g new schools, day cares, retrofits, extensions, gyms etc., - based on approved criteria, to the board of trustees for approval.
Based on the approved list, board staff then prepare business cases to be submitted to the Ministry of Education.
Normally staff will submit business cases to the Ministry for its top 10 construction priorities and usually 1 or 2 will actually get funded by the Ministry.
The province then releases its memorandum providing a list of all approved capital funding projects.
The TCDSB maintains a system of internal controls designed to provide reasonable assurance that assets are safeguarded, transactions are properly authorized and recorded in compliance with legislative and regulatory requirements. These statements are audited by an independent external auditor and posted publicly each year.
For more information or to request a printed copy of the TCDSB's audited financial statements, contact: David Bilenduke
Senior Coordinator of Financial Services