This is a complex issue. Cherrypicking known incidents of misspending by select school boards and letting Ford's MoE talk out of his ass does not do it justice. "we’re providing record level of funding" - yeah, right. How on brand for the Ford government /s. Show me per capita spending historically in Ontario and across provinces if you want to claim "record level" that isn't pure BS. This announcement is groundwork for Conservatives to slash and privatize public services.
Evidence of the province's role in creating financial issues for School Boards (https://www.torontotoday.ca/local/education/province-appoints-toronto-school-boards-financial-investigators-10561288):
The TDSB has blamed its shortfall on the provincial government not fully covering the costs associated with employing teachers, as well as Queen’s Park’s moratorium on school closures.
The board wants to consolidate underutilized and under-enrolled schools as part of a wider plan to modernize its capital holdings and programming.
The province has denied this request, as well as requests to subsidize the cost of keeping the under-used schools open, and continues to uphold the moratorium that was first established in 2017.