District Financial Accountability
School District Financial Reporting monitors School Board accountability.
Goals and Objectives
-Ensuring the Board of Education meets its legislated and government policy-based financial responsibilities (e.g. submitting school district budget on time; submitting audited financial statements on time; proper adoption of bylaws)
-Ensuring school district budgetary information and financial information are available, comparable and audited
Major Program Activities
-Communicating with the Ministry of Education regarding funding allocation
-Coordinating, monitoring and analyzing budgets, financial statements and other financial reporting
-Adhering to budgeting, accounting and reporting policies and instructions for school districts
-Adhering to budgeting and accounting reference material
-Ensuring budget decisions are made in public to enhance board of education accountability
-Ensuring external auditors receive all materials require to conduct annual audits
-Implementing Ministry of Education and external auditor financial accountability recommendations
-Reporting on special purpose funds for other agencies
-Supporting collection of federal revenues by reporting aboriginal student numbers
-Reporting quarterly for inclusion in the Government Reporting Entity.
Reference and Resources
The Board of Education is responsible for:
1. Designing and constructing schools buildings to specified standards, including LEED Gold; and
2. Ensuring that school buildings and grounds are safe, secure and properly maintained; and
3. Operating and utilizing schools as efficiently as possible.
Each year the Board submits a five-year capital plan that includes details on school building projects it wishes to undertake. Each capital request is analyzed and assigned a priority ranking by the Ministry of Education. Based on detailed analysis of district submissions, government establishes an overall capital budget for schools. Resources are allocated to the highest-priority projects, and boards are advised which projects may proceed.
School bus replacement is also included in the capital plan.