The budget at the Near North Board has been revised.
A $61,000 projected surplus in July has now become a $1.5 million in-year deficit.
The board says reasons include a 2.9 per cent drop in enrolment, an increased cost to salaries and benefits, and an increase in transportation expenditures.
At their Jan. 14 board meeting, trustees approved an in-year deficit elimination plan (below).
Along with absence management improvements, it includes just over a million dollars in teaching staff reductions.
That’s if enrolment projections for next year remain similar to enrolment at the end of October.
NNDSB In-Year Deficit Elimination Plan:
2025-2026
Revenue Increase – identify current expenses that can be directed toward specific allocations to reduce deferred revenues – $50,000
Expense Decrease – reduction of teacher staffing due to lower enrolment – ($1,086,846 — if projected enrolment for 2025-26 remains similar to Oct. 31, 2024 enrolment)
Expense Decrease – absence management improvements resulting in a reduction of supply staff costs – ($100,000)
2026-2027
Expense Decrease – absence management improvements resulting in a reduction of supply staff costs – ($200,000)
Expense Decrease – reduce school operating costs following opening of PS JK-12 – ($98,357)
