CP24: More Ontario School Boards in Deficit, Using Reserves - Ministry Documents

Jill Dunlop has said that overall, school boards are in good financial health

TORONTO — An increasing number of Ontario school boards are reporting deficits and are using or even depleting their reserves, according to internal Ministry of Education briefing documents.

The association representing school boards in the province says while the Progressive Conservative government has boosted the education budget, increases have not kept pace with inflation, forcing boards to use money they were saving for large projects on operations or make cuts.

Education Minister Jill Dunlop has said that overall, school boards are in good financial health, but her transition binder – obtained by The Canadian Press through a freedom-of-information request – provides a deeper look.

“Sector wide, school boards are maintaining a healthy reserve level; however, some school boards have depleted/are projected to deplete their reserves over the course of the next few years,” the briefing documents say.

“Recent information suggested the number of deficit boards are on the rise, meaning more boards are starting to draw down on reserves.”

Historically, school boards have reported an overall surplus in their financial statements, but in recent years the number of school boards in deficit has risen, the documents say.