School District Financial Reporting monitors School Board accountability.
GOALS & 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
- Records available to the public without a request
The Board of Education is responsible for:
- Designing and constructing schools buildings to specified standards, including LEED Gold; and
- Ensuring that school buildings and grounds are safe, secure and properly maintained; and
- 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.