All eight boards under provincial supervision — including Toronto public and Catholic — are running deficits for this fall totalling $134 million despite deep spending cuts.  

In a surprise move Thursday afternoon, the boards publicly posted their budgets for the next school year, with the Toronto Catholic District School Board $39.5 million in the red, about the same as it was for the 2025-26 school year. The Toronto District School Board projects its 2026-27 budget deficit has been reduced to about $15 million from $74.5 million, after the supervisor identified $59.5 million in savings.