TDSB votes to accept financial help from province
A sign is pictured outside a Toronto District School Board building. (Corey Baird/CTV Toronto)
Published Thursday, December 13, 2012 6:11AM EST
Toronto District School Board trustees have voted to allow the provincial government to provide financial oversight as they try to get their finances in order.
In a 13-7 vote at their meeting Wednesday night, trustees accepted Education Minister Laurel Broten’s offer to have a team of special advisors to take a look at the board’s spending and provide advice on how to implement almost two dozen recommendations contained in a PricewaterhouseCoopers report into the school board’s finances.
That report suggests the TDSB close up to 15 schools and lay off more than 700 employees to save almost $92 million over the next two years.
But the province required a formal request from the board before it could send in a team of advisors.
In the meantime, the province has frozen the TDSB’s capital funding because it is concerned about cost overruns.
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