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On this Page:
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2023-2024 Public Budget Consultation
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YRDSB Budget Profile
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Budget Compliance Requirements
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Budget Development Process
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Operating Budget vs. Capital Budget
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Building a Budget
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School Board Revenue Sources
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YRDSB 2022-2023 Operating Revenue
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Key Components for Operating Expenditures
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YRDSB Operating Expenses by Categories
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2022-2023 Financial Position
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10-Year Enrollment Trend
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2023-2024 Ministry Funding Information
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2023-2024 Budget Risks
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Upcoming Budget Events
2023-2024 Budget Information
Presentation for April 17 and 19, 2023 Public Consultation Sessions
YRDSB Budget Profile
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YRDSB is the third largest school district in Ontario, with a budget of $1.6 billion (PSAB standard)
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213 schools - 180 elementary and 33 secondary
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Services 128,000 students
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13,000 full-time equivalent staff
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Over 97% of Board revenue is from GSN
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Over 83% of the budget is salaries and benefits, and 75% of that is school-based staffing
Budget Compliance
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Balanced budget and 1% rule
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In-year deficit elimination plan
Budget Development Process
Fall
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Financial statements
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Revised estimates
Winter
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Budget planning for enrolment forecasts and budget risk areas
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Grants for Student Needs announcement
Spring
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Budget consultations with advisory committees and public
Summer
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Finalize budget submission for June 30
Operating Budget vs. Capital Budget
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Operating budget supports the day-to-day operations |
Capital Budget |
|---|---|
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Building a Budget
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Expenses balanced with Revenues
School Board Revenue Sources
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Grants for Student Needs (GSN)
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Based on formulas set out in regulations each year and calculated primarily by student enrollment despite cash sources from both provincial and local taxation.
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Priorities and Partnership Fund (PPF)
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Provides education funding, supplemental to the GSN, for high-impact initiatives that directly support students in the classroom. The funding is evidence-based and outcome-focused while providing streamlined, accountable, and time-limited funding that will be reviewed and assessed by the Ministry each year.
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Miscellaneous Revenues
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Vary from board to board. Common miscellaneous revenues include International Student tuition fees, permit/lease revenue, interest income, and program fees, such as acting as the agent for Federal government programs (e.g. Link or ESL programs).
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YRDSB 2022-2023 Operating Revenue
Operating Revenue Sources
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Grants for Student Needs (GSN) Allocation |
97.23% |
|---|---|
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Other |
2.16% |
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Provincial Grants - Other |
0.61% |
Operating Revenue - Other Sources
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Tuition Fees Day School and Non-Residents |
1.18% |
|---|---|
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Interest Revenue |
0.32% |
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ESL - Non-Credit |
0.20% |
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Recoverable Salaries |
0.19% |
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Community & Education Services |
0.14% |
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Rental Revenues |
0.13% |
Key Components for Operating Expenditures
Instruction Expenses at 79.2%
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Including school-based staffing, school administration and other program staff, textbooks/supplies, computer and equipment and staff training.
Administration Expenses at 2.3%
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Central Board departmental staff and operating costs such as Director’s Office, IT, Human Resources, Finance, and Trustees.
Transportation at 3.1%
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Student transportation costs
School Operations at 8.5%
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School operations and maintenance (caretakers, utilities)
Renewal, Debt and Other Expenses at 2.0%
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Such as the cost of financing and other miscellaneous expenses
Amortization at 4.9%
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Amortization of capital assets, offset by the deferred capital contribution
YRDSB Expense by Categories
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Salaries and Benefits |
83.44% |
|---|---|
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Supplies and Services |
5.17% |
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Amortization and Write Downs |
4.85% |
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Fees and Contractual Services |
4.09% |
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Interest Charges on Capital |
1.82% |
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Other Expenses |
0.23% |
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Rental Expenses |
0.04% |
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Staff Development |
0.36% |
2022-2023 Financial Position
Enrollment - Pupils of the Board
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Estimate |
Revised Estimate |
Increase or Decrease |
|---|---|---|---|
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Junior Kindergarten (JK) |
6,264.0 |
6,384.0 |
120.0 |
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Senior Kindergarten (SK) |
6,979.0 |
7,236.0 |
257.0 |
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Grades 1 to 3 |
24,640.0 |
25,322.5 |
682.5 |
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Grades 4 to 6 |
27,057.0 |
27,765.0 |
708.0 |
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Grades 7 to 8 |
18,884.0 |
19,316.5 |
432.5 |
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Total Elementary |
83,824.0 |
86,024.0 |
2200.0 |
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Total Secondary |
39,539.5 |
40,524.0 |
984.5 |
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Total Day School |
123,363.5 |
126,548.0 |
3,184.5 |
Enrollment - International Students
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|
Estimate |
Revised Estimate |
Increase or Decrease |
|---|---|---|---|
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Elementary |
218.0 |
229.5 |
11.5 |
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Secondary |
1,210.0 |
1,064.5 |
(145.5) |
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Total |
1,428.0 |
1,294.0 |
(134.0) |
Updated 22-23 Financial Position
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Amount (in millions) |
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Ministry approved deficit as of Estimate |
(29.0) |
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Change in Revenues: GSN grant increase due to enrollment increase |
16.3 |
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Change in Revenues: additional PPF announced |
2.3 |
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Change in Revenues: other miscellaneous revenue |
1.2 |
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Total Changes in Revenue |
19.8 |
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Changes in Expenses: additional support due to increased enrolment and PPF grant |
6.8 |
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Change in Expenses: cost updates for Every Student Counts survey and Trustee department expenses |
0.7 |
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Change in Expenses: cost adjustment for system priority investment funding |
1.1 |
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Change in Expenses: school renewal cost increase to match with grant |
0.3 |
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Total Change in Expenses |
8.9 |
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Total change for the in-year operation |
10.9 |
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Updated in year deficit as of Revised Estimate |
(18.1) |
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Percentage of the Operating Grant |
1.2% |
10-Year Enrollment Trend
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Pupil of the Board |
International Students |
|---|---|---|
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2023-2024 Estimates |
127,671 |
1,218 |
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2022-2023 Revised |
126,548 |
1,294 |
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2021-2022 |
124,808 |
1,168 |
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2020-2021 |
124,923 |
1,393 |
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2019-2020 |
126,369 |
2,053 |
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2018-2019 |
124,512 |
2,298 |
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2017-2018 |
122,142 |
2,324 |
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2016-2017 |
121,550 |
2,047 |
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2015-2016 |
120,633 |
1,924 |
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2014-2015 |
120,276 |
1,464 |
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2013-2014 |
112,422 |
1,001 |
2023-2024 Ministry Funding Information
The Ministry of Education provides over 97% of Board revenue through the Grants for Student Needs (GSN). This funding is based on formulas set out in regulations under the Education Act and calculated primarily by student enrollment.
Revisions to education funding are released in the spring of each year. Once the Ministry of Education releases information for the 2023-2024 school year, staff will provide an overview of the announcement.
2023-2024 Budget Risks
Enrolment Projection
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The Board is projecting increased enrolment in the 23-24 school year. Enrolment projection may deviate from actual results, which impacts Grants for Student Needs. The Board may experience labour redundancy if enrolment comes less than projected.
Funding Change
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Covid learning recovery funding expires by Aug 2023; it may not be continued or reduced. (TBD based on GSN announcement)
Inflation
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Commodity prices increased significantly post-pandemic; if the Ministry benchmark is not adjusted accordingly to cover the inflation, the Board will experience a funding shortfall.
Collective Agreement
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The result of the current negotiations will impact the budget preparation.
Upcoming Budget Events
April 5 to April 26
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Budget Survey
April 17 and April 19
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Public Budget Consultations
April 25
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Finance and Property Standing Committee
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2022-2023 Quarter 2 results
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May 30
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Finance and Property Standing Committee
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Advisory Committee presentations
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Budget Survey results
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June 20
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Board Meeting
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Budget approval
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Questions regarding the budget process may be directed to budget@yrdsb.ca.