Monitoring of K-12 District Financial Accountability

School District Financial Reporting monitors school board accountability.

Goals and objectives

Ensure boards of education and CSF are meeting their legislated and government policy-based financial responsibilities (e.g. submitting school district budgets on time; submitting audited financial statements on time; proper adoption of bylaws)
Ensure school district budgetary information and financial information are available, comparable and audited

Major program activities

Work with school districts to monitor how their funding allocation is budgeted and spent.
Coordinating, monitoring and analyzing board of education budgets, financial statements and other financial reporting
Updating budgeting, accounting and reporting policies and instructions for school districts
Updating of budgeting and accounting reference material to improve board of education accountability
Providing external auditors of school districts materials to enhance the understanding of school district accounting policies
Consolidating school district financial statements into public accounts
Implementing financial accountability recommendations
Analyzing special purpose funds and other financial activities for program branches
Ensuring collection of federal revenues from aboriginal cost sharing agreements
Primary contact for issues relating to the inclusion of school districts in the Government Reporting Entity.

Reference and Resources

School District Reporting Timelines

December 2008-July 2010 (PDF, 19KB) (updated January 2009)

School District Financial Statement Reporting

2008/09 Financial Statement Instructions (PDF, 265KB) (May 2009)
2008/09 Sample Notes to Financial Statements (Rich Text, 508KB) (May 2009)
Sample Journal Entries (May 2006)
- Disposals of Sites and Buildings (MS Excel, 36KB)
- Write Downs of Sites and Buildings (MS Excel, 33KB)
- Write Offs of Buildings (MS Excel, 32KB)
- Policy: Allocation of Proceeds from the Disposition of Capital Assets
Financial Statement Format for 2009/10 v.6.1 (September 2009)
- Blank (MS Excel, 3.2 MB)
Financial Statement Format for 2008/09 v.6 (May 2009)
- Sample (MS Excel, 2.3 MB)

School District Budget Reporting

2009/10 Annual Budget Instructions (PDF, 75KB)
2009/10 Annual Budget Bylaw (Rich Text, 59KB)
2009/10 Budget and School Referendum Tax Rate Bylaw (Rich Text, 61KB)
2009/10 Annual Budget Excel Template (MS Excel, 801KB)

Employee Future Benefits

Actuarial Study (PDF, 250KB) (February 2009) Letter, Considerations and Instructions for School Districts
Liabilities for Employee Future Benefits (PDF, 141KB) (April 2009)

Reports

Revenue and Expenditure Tables
The British Columbia School District Revenue and Expenditure Information contains financial information over a multi-year period

Local Education Agreement (LEA)/Indian & Native Affairs Canada (INAC)

Local Education Agreement (LEA) Accounts Receivable Form (MS Excel, 27KB) (May 2009)
Final 2008/09 Per Pupil Block Rates Adjusted for Provincial Learning Network and Annual Facility Grant (21 KB, PDF)

Accounting and Reporting Guidelines

Operating Fund Account Descriptions (PDF, 317KB) (May 2006)
Canadian Institute of Chartered Accountants (CICA)

Committees