Despite being under provincial supervision due to alleged financial mismanagement, the Toronto District School Board (TDSB) is projecting a $15 million deficit for the 2026-2027 school year.

In a budget report published on its website, the TDSB says despite a preliminary deficit of almost $75 million, supervisor savings of $59.5 million were found through “previously announced central staffing reductions and a reduction in discretionary expenses.”

The report says the savings “represents significant progress in restoring long-term financial sustainability to the Board.”

The TDSB is among eight school boards that are under the control of provincially appointed supervisors due to what the Ford government alleges is financial mismanagement, unsustainable deficits, and a failure to implement cost-saving measures.

The report goes on to say that despite approximately 5,000 fewer students next year, the TDSB will be adding direct teaching support related to math and literacy and will be maintaining school-based staffing levels in Special Education and Mental Health.

Meanwhile, the Toronto Catholic District School Board (TCDSB) is projecting a deficit of almost $40 million next year. That is down from the initial projection of just over $65.3 million, but virtually the same as the $39.6 million deficit recorded in the 2025-26 school year.

As with the TDSB, supervisor decisions and savings measures account for almost $26 million in savings, which includes cuts to the international languages program, administrative reductions, vacancy and attrition management.

The TCDSB budget report says after a brief period of modest growth, it expects to see almost 1,500 fewer students next year “and in the coming years.”

“Projected revenue is expected to decrease due to demographic shifts resulting in declining enrolment, reduced English as Second Language (ESL) funding based on less newcomers to Canada and lower international education revenue,” the report says.