Overview

Following controversy over an off-site retreat costing nearly $40,000 by Thames Valley District School Board (TVDSB) senior officials in August 2024, the province appointed PricewaterhouseCoopers LLP (PwC) to lead an investigation that:

  • reviews the board’s finances and executive pay practices
  • assesses the board’s financial operations and the reasons for its deteriorating financial position
  • identifies capital assets for disposition
  • recommends if control of the school board should be vested in the Ministry of Education

Executive summary

The report reveals that regarding TVDSB’s compliance of executive compensation with the Broader Public Sector Executive Compensation Act, 2014, (BPSECA), there were:

  • 2 instances of non-compliance with the board’s policies and procedures
  • 5 instances of non-compliance with compensation frameworks

The board’s financial position has declined from an in-year surplus of $3.5 million in 2020–2021 to an in-year deficit of $17.3 million in 2023–2024. It has a projected in-year deficit of $16.8 million in 2024–2025.

The reasons for the deteriorating financial position include factors like:

  • increasing absenteeism among staff
  • over projected enrolment that have led to overstaffing of classroom teachers
  • increased spending on technology and cybersecurity initiatives

The investigator identified additional saving measures that the board could put in place in addition to what they have already implemented. These measures could help bring the board back to a balanced financial position. 

The report also identified saving measures related to capital assets. These measures include:

  • achieving operational efficiencies through leasing surplus land assets
  • maximizing utilization of interior or exterior spaces
  • capturing greater market rents

The investigator found the board reported an accumulated deficit in 2024–2025. This deficit excluded a one-time exemption for the transfer of proceeds of disposition and probable accumulated deficit in 2025–2026. There are also indications of potential financial mismanagement.

The investigator recommended that the control and charge of the board’s affairs be vested in the ministry.

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