The Vancouver School Board predicts teacher layoffs and school closures as it faces a budget shortfall of more than $18 million – up $500,000 from a previous projection.

VSB officials laid out the grim financial prediction Thursday night – saying the upcoming budget will likely seek program cuts and an overhaul of the entire school calendar.

Although the Vancouver School District will receive a total of $443,000 in funding this year -- trustee Patti Bacchus told ctvbc.ca it won't be enough to cover rising costs.

"Several things have changed and it's a fairly complex budget," Bacchus said.

She says the shortfall is partly due to rising costs and inflation, as well as pension plans and salary increases.

The VSB plans to meet with parents and stakeholders in the next few weeks to consult about where cuts can be made.

The board plans to approve a final budget for 2010-2010 on April 29.

School districts across B.C. are facing similar problems, with Kamloops-Thompson trustees warning of staff layoffs as they cope with a $2.4 million shortfall.

Boards are furious the province has hiked per-student funding but cut in other areas and they say the government is balancing its budget on the backs of school children.

With files from The Canadian Press