TDSB trustees will meet tonight to discuss the projected $20-million deficit and, among other options, are expected to discuss the possibility of renting out school parking lots during off-hours in order to generate some extra income.
The proposal would turn the lots into municipal "green P" lots when school is not in session, and could also see spaces rented to car share programs.
But Ward 16 trustee Sheila Cary-Meagher says the board has already tried it.
"There's only so much revenue you can generate and we have gone through everything we can think of," Cary-Meagher told CBC News.
The board is facing decreased enrolment — only 200 new elementary school students are expected this fall, while high school enrolment will be down by 2,200.
The board is looking at job cuts; mostly through attrition, retirement and hiring limitations.
Trustees are also looking at cuts to special education.
But Cary-Meagher says special education is in high demand in Toronto, and she says she worries about the impact of cutbacks.
Trustees say one eighth of Ontario students go to Toronto schools, but the board doesn't get anywhere near an eighth of provincial education funding.