AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED … · Other sales and services 125,260$ $ 95,780133,538 $ Investment income $ - $ 18,99416,498 $ Gifts and donations $ 15,000 $ 60,74866,798

8060HGF1

School Jurisdiction Code: 8060

AUDITEDFINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2015[School Act, Sections 147(2)(a), 148, 151(1) and 276]

Legal Name of School Jurisdiction

Mailing Address

Telephone & Fax Numbers, and Email Address

SCHOOL JURISDICTION MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING

The financial statements of

Board of Trustees Responsibility

External Auditors

Declaration of Management and Board Chair

c.c. ALBERTA EDUCATION, Financial Reporting & Accountability Branch8th Floor Commerce Place, 10155-102 Street, Edmonton AB T5J 4L5EMAIL: [email protected]: (780) 422-0312 (Toll free 310-0000) FAX: (780) 422-6996

Board-approved Release Date

Signature

Signature

SignatureName

Name

Name

SUPERINTENDENT

Marc Dumont

SECRETARY-TREASURER OR TREASURER

Marc Labonte

November 26, 2015

"original signed"

"original signed"

school jurisdiction's transactions. The effectiveness of the control systems is supported by the selection and training

East Central Francophone Education Region No. 3

P.O. Box 249 St. Paul AB T0A 3A0

(780) 645-3888 (780) 645-2045 [email protected]

presented to Alberta Education have been prepared by school jurisdiction management which has responsibility fortheir preparation, integrity and objectivity. The financial statements, including notes, have been prepared in accordancewith Canadian Public Sector Accounting Standards and follow format prescribed by Alberta Education.

In fulfilling its reporting responsibilities, management has maintained internal control systems and procedures designedto provide reasonable assurance that the school jurisdiction's assets are safeguarded, that transactions are executedin accordance with appropriate authorization and that accounting records may be relied upon to properly reflect the

East Central Francophone Education Region No. 3

Michelle Dallaire

of qualified personnel, an organizational structure that provides an appropriate division of responsibility and a strong system of budgetary control.

The ultimate responsibility for the financial statements lies with the Board of Trustees. The Board reviewed the auditedfinancial statements with management in detail and approved the financial statements for release.

The Board appoints external auditors to audit the financial statements and meets with the auditors to review their findings.The external auditors were given full access to school jurisdiction records.

To the best of our knowledge and belief, these financial statements reflect, in all material respects, the financial position,results of operations and cash flows for the year in accordance with Canadian Public Sector Accounting Standards.

BOARD CHAIR

"original signed"

1


TABLE OF CONTENTS

Page

3

4

5

6

7

8

9

11

12

13

14

15

16

17

STATEMENT OF CHANGE IN NET FINANCIAL ASSETS (NET DEBT)

INDEPENDENT AUDITOR'S REPORT

NOTES TO THE FINANCIAL STATEMENTS

SCHEDULE OF PROGRAM OPERATIONS

SCHEDULE OF CAPITAL REVENUE

SCHEDULE OF CHANGES IN ACCUMULATED SURPLUS

STATEMENT OF REMEASUREMENT GAINS AND LOSSES

STATEMENT OF CASH FLOWS

STATEMENT OF OPERATIONS

STATEMENT OF FINANCIAL POSITION

SCHEDULE OF PLANT OPERATIONS AND MAINTENANCE EXPENSES

UNAUDITED SCHEDULE OF FEE REVENUE

UNAUDITED SCHEDULE OF DIFFERENTIAL FUNDING

UNAUDITED SCHEDULE OF CENTRAL ADMINISTRATION EXPENSES

2


2015 2014

FINANCIAL ASSETS

Cash and cash equivalents (Note 3) 1,658,266$ 1,527,345$

Accounts receivable (net after allowances) (Note 4) 83,211$ 204,748$

Portfolio investments -$ -$

Other financial assets -$ -$

Total financial assets 1,741,477$ 1,732,093$

LIABILITIES

Bank indebtedness (Note 5) -$ -$

Accounts payable and accrued liabilities (Note 6) 230,391$ 401,795$

Deferred revenue (Note 7) 35,107,098$ 35,859,780$

Employee future benefit liabilities -$ -$

Liability for contaminated sites -$ -$

Other liabilities -$ -$

Debt (Note 8)

Supported: Debentures and other supported debt -$ -$

Unsupported: Debentures and capital loans -$ -$

Mortgages 493,460$ 670,000$

Capital leases -$ -$

Total liabilities 35,830,949$ 36,931,575$

(34,089,472)$ (35,199,482)$

NON-FINANCIAL ASSETS

Tangible capital assets (Note 9)

Land 1,255,002$ 1,255,002$

Construction in progress -$ -$

Buildings 42,812,589$

Less: Accumulated amortization (9,644,900)$ 33,167,689$ 34,213,381$

Equipment 4,870,377$

Less: Accumulated amortization (2,646,847)$ 2,223,530$ 2,417,087$

Vehicles 339,862$

Less: Accumulated amortization (175,895)$ 163,967$ 131,284$

Computer Equipment 74,937$

Less: Accumulated amortization (54,819)$ 20,118$ 35,105$

Total tangible capital assets 36,830,306$ 38,051,859$

Prepaid expenses 86,434$ 88,932$

Other non-financial assets -$ -$

Total non-financial assets 36,916,740$ 38,140,791$

Accumulated surplus (Note 10) 2,827,268$ 2,941,309$

Accumulating surplus / (deficit) is comprised of:

Accumulated operating surplus (deficit) 2,827,268$ 2,941,309$

Accumulated remeasurement gains (losses) -$ -$

2,827,268$ 2,941,309$

Contractual obligations

Contingent liabilities

The accompanying notes and schedules are part of these financial statements.

As at August 31, 2015 (in dollars)STATEMENT OF FINANCIAL POSITION

Net financial assets (debt)

4


Budget Actual Actual2015 2015 2014

Alberta Education 14,312,767$ 14,085,477$ 14,078,358$

Other - Government of Alberta -$ -$ -$

Federal Government and First Nations -$ 20,800$ 18,500$

Other Alberta school authorities -$ 59,841$ 54,602$

Out of province authorities -$ 5,907$ 5,520$

Alberta municipalities-special tax levies -$ -$ -$

Property taxes -$ -$ -$

Fees Note 11 164,790$ 229,049$ 280,912$

Other sales and services 125,260$ 133,538$ 95,780$

Investment income -$ 16,498$ 18,994$

Gifts and donations 15,000$ 66,798$ 60,748$

Rental of facilities 16,200$ 18,862$ 16,030$

Fundraising 110,000$ 167,790$ 88,389$

Gains on disposal of capital assets -$ 194,705$ -$

Other revenue -$ -$ -$

Total revenues 14,744,017$ 14,999,265$ 14,717,833$

Instruction - ECS 823,272$ 931,914$ 728,543$

Instruction - Grades 1 - 12 8,608,941$ 8,644,639$ 8,002,603$

Plant operations and maintenance 2,501,650$ 2,465,996$ 2,498,783$

Transportation 1,453,507$ 1,359,311$ 1,317,177$

Board & system administration 764,095$ 835,592$ 829,547$

External services 671,000$ 875,854$ 779,776$

Total expenses 14,822,465$ 15,113,306$ 14,156,429$

(78,448)$ (114,041)$ 561,404$

STATEMENT OF OPERATIONSFor the Year Ended August 31, 2015 (in dollars)

EXPENSES

Operating surplus (deficit)


REVENUES

5

8060

2015 2014

CASH FLOWS FROM:

A. OPERATING TRANSACTIONS

Operating surplus (deficit) (114,041)$ 561,404$

Add (Deduct) items not affecting cash:

Total amortization expense 1,537,286$ 1,488,533$

Gains on disposal of tangible capital assets (194,705)$ -$

Losses on disposal of tangible capital assets 531$ 77,465$

Expended deferred capital revenue recognition (1,418,134)$ (1,415,310)$

Deferred capital revenue write-down / adjustment -$ -$

Donations in kind -$ -$

Changes in:

Accounts receivable 121,537$ (83,102)$

Prepaids 2,498$ (29,706)$

Other financial assets -$ -$

Non-financial assets -$ -$

Accounts payable, accrued and other liabilities (171,404)$ 193,778$

Deferred revenue (excluding EDCR) 665,452$ (114,717)$

Employee future benefit liabilities -$ -$

-$ -$

Total cash flows from operating transactions 429,020$ 678,345$

B. CAPITAL TRANSACTIONS

Purchases of tangible capital assets

Land -$ -$

Buildings (71,817)$ (743,262)$

Equipment (177,765)$ (159,732)$

Vehicles (80,681)$ (89,363)$

Computer equipment -$ -$

Net proceeds from disposal of unsupported capital assets 208,704$ 9,500$

-$ -$

Total cash flows from capital transactions (121,559)$ (982,857)$

C. INVESTING TRANSACTIONS

Purchases of portfolio investments -$ -$

Dispositions of portfolio investments -$ -$

Remeasurement gains (losses) reclassified to the statement of operations -$ -$

Change in endowments -$ -$

-$ -$

Total cash flows from investing transactions -$ -$

D. FINANCING TRANSACTIONS

Issue of debt 80,000$ 670,000$

Repayment of debt (256,540)$ -$

-$ -$

Issuance of capital leases -$ -$

Repayment of capital leases -$ -$

-$ -$

-$ -$

Total cash flows from financing transactions (176,540)$ 670,000$

Increase (decrease) in cash and cash equivalents 130,921$ 365,488$

Cash and cash equivalents, at beginning of year 1,527,345$ 1,161,857$

Cash and cash equivalents, at end of year 1,658,266$ 1,527,345$


For the Year Ended August 31, 2015 (in dollars)

School Jurisdiction Code:

STATEMENT OF CASH FLOWS

Other factors affecting debt (describe)

Other factors affecting capital leases (describe)

Other (describe)

Other (describe)

Other (describe)

Other (describe)

6

8060

2015 2014

Operating surplus (deficit) (114,041)$ 561,404$

Effect of changes in tangible capital assets

Acquisition of tangible capital assets (330,263)$ (992,357)$

Amortization of tangible capital assets 1,537,286$ 1,488,533$

Net carrying value of tangible capital assets disposed of 14,530$ 86,965$

Write-down carrying value of tangible capital assets -$ -$

Other changes -$ -$

Total effect of changes in tangible capital assets 1,221,553$ 583,141$

Changes in:

Prepaid expenses 2,498$ (29,706)$

Other non-financial assets -$ -$

Net remeasurement gains and (losses) -$ -$

Endowments -$ -$

Increase (decrease) in net financial assets (net debt) 1,110,010$ 1,114,839$

Net financial assets (net debt) at beginning of year (35,199,482)$ (36,314,321)$

Net financial assets (net debt) at end of year (34,089,472)$ (35,199,482)$

School Jurisdiction Code:

STATEMENT OF CHANGE IN NET FINANCIAL ASSETS (NET DEBT)



7


2015 2014

Accumulated remeasurement gains (losses) at beginning of year -$ -$

Unrealized gains (losses) attributable to:


Other -$ -$

Amounts reclassified to the statement of operations:


Other -$ -$

Net remeasurement gains (losses) for the year -$ -$

Accumulated remeasurement gains (losses) at end of year -$ -$

STATEMENT OF REMEASUREMENT GAINS AND LOSSES



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10

8060

SCHEDULE OF CAPITAL REVENUE(EXTERNALLY RESTRICTED CAPITAL REVENUE ONLY)

for the Year Ended August 31, 2015 (in dollars)

Proceeds on UnexpendedDisposal of Deferred

Provincially Surplus from Provincially Capital Expended

Approved Provincially Funded Revenue from Deferred

& Funded Approved Tangible Capital Other Capital

Projects (A) Projects (B) Assets (C) Sources (D)Revenue

Balance at August 31, 2014 121,573$ -$ -$ -$ 35,385,446$

Prior period adjustments -$ -$ -$ -$ -$

Adjusted balance, August 31, 2014 121,573$ -$ -$ -$ 35,385,446$

Add:

Unexpended capital revenue received from:

Alberta Education school building & modular projects (excl. IMR) 193,188$

Infrastructure Maintenance & Renewal capital related to school facilities -$

Other sources: (Describe) -$ -$

Other sources (Describe) : -$ -$

Unexpended capital revenue receivable from:

Alberta Education school building & modular (excl. IMR) -$



Interest earned on unexpended capital revenue 70$ -$ -$ -$

Other unexpended capital revenue: (Describe) -$

Net proceeds on disposal of supported tangible capital assets -$ -$

Insurance proceeds (and related interest) -$ -$

Donated tangible capital assets (Explain): -$

Alberta Schools Alternative Program (ASAP), Building Alberta School Construction Program, (BASCP) and other Alberta Infrastructure managed projects -$

Transferred in (out) tangible capital assets (amortizable, @ net book value) -$

Expended capital revenue - current year (157,194)$ -$ -$ -$ 157,194$

Surplus funds approved for future project(s) -$ -$

Other adjustments (Explain): -$ -$ -$ -$ -$

Deduct:

Net book value of supported tangible capital dispositions or write-offs -$

Other adjustments (Explain): -$ -$ -$ -$ -$

Capital revenue recognized - Alberta Education 1,418,134$

Capital revenue recognized - Other Government of Alberta -$

Capital revenue recognized - Other revenue -$

Balance at August 31, 2015 157,637$ -$ -$ -$ 34,124,506$ (A) (B) (C) (D)

Balance of Unexpended Deferred Capital Revenue at August 31, 2015 (A) + (B) + (C) + (D) 157,637$

Unexpended Deferred Capital Revenue

(A) - Represents funding received from the Government of Alberta to be used toward the acquisition of new approved tangible capital assets with restricted uses only.

(B) - Represents any surplus of funding over costs from column (A) approved by Minister for future capital expenditures with restricted uses only.

(C) - Represents proceeds on disposal of provincially funded restricted-use capital assets to be expended on approved capital assets per 10(2)(a) of Disposition of Property Reg. 181/2010.

(D) - Represents capital revenue received from entities OTHER THAN the Government of Alberta for the acquisition of restricted-use tangible capital assets.

Unexpended Deferred Capital Revenue

11

Sch

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icti

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Co

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8060

2014

Pla

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Op

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12

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13


Actual Actual2014/2015 2013/2014

FEES

Transportation fees $0 $0

Basic instruction supplies (text books, including lost or replacement fees, course materials) $38,234 $30,038

Technology user fees $33,123 $35,160

Alternative program fees $0 $0

Fees for optional courses (band, art, etc.) $0 $0

Fees for students from other boards $0 $0

Tuition fees (international & out of province) $0 $0

Kindergarten & preschool $40,400 $35,422

Extracurricular fees (sports teams and clubs) $35,668 $30,263

Field trips (related to curriculum) $81,624 $150,029

Lunch supervision fees $0 $0

Locker rental; locks; student ID; uniforms; library, student union, and fitness fees $0 $0

Other (describe)* $0 $0



TOTAL FEES $229,049 $280,912

Actual Actual

2014/2015 2013/2014

Cafeteria sales, hot lunch, milk programs $29,418 $42,387

Special events, graduation, tickets $20,954 $23,600

Student travel (international, recognition trips, non-curricular) $20,926 $0

$21,092 $4,798

$0 $0

$18,959 $24,995

Other (describe) $0 $0



TOTAL $111,349 $95,780

Adult education revenue

Child care & before and after school care

UNAUDITED SCHEDULE OF FEE REVENUEfor the Year Ending August 31, 2015 (in dollars)

Please disclose amounts paid by parents of students that are recorded as "Other sales and services" or "Other revenue" (rather than fee revenue):

Sales or rentals of other supplies/services (clothing, agendas, yearbooks)

*PLEASE DO NOT USE "SCHOOL GENERATED FUNDS" AS A CATEGORY

14

8060

Funded Students in Program 10 8 41 REVENUES

Alberta Education allocated funding 9,425$ 177,731$ 47,713$ 401,322$ 1,541,519$ Other funding allocated by the board to the program -$ -$ -$ -$ -$ TOTAL REVENUES 9,425$ 177,731$ 47,713$ 401,322$ 1,541,519$

EXPENSES (Not allocated from BASE, Transportation, or other funding)Instructional certificated salaries & benefits 10,434$ -$ 24,024$ 28,481$ Instructional non-certificated salaries & benefits -$ 112,035$ -$ 313,831$ SUB TOTAL 10,434$ 112,035$ 24,024$ 342,312$ Supplies, contracts and services -$ 38,509$ -$ 77,272$ Program planning, monitoring & evaluation -$ 20,446$ -$ -$ Facilities (required specifically for program area) -$ -$ -$ -$ Administration (administrative salaries & services) -$ -$ -$ 27,261$ Training 4,000$ 5,397$ -$ 28,963$ Other (please describe) -$ -$ -$ -$ TOTAL EXPENSES 14,434$ 176,387$ 24,024$ 475,808$ NET FUNDING SURPLUS (SHORTFALL) (5,009)$ 1,344$ 23,689$ (74,486)$

UNAUDITED SCHEDULE OF DIFFERENTIAL FUNDINGfor the Year Ended August 31, 2015 (in dollars)

PROGRAM AREA

First Nations, Metis & Inuit

(FNMI)ECS Program Unit

Funding (PUF)

English as a Second Language

(ESL)Inclusive

Education

Small Schools by Necessity

(Revenue only)

15

Sch

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icti

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Co

de:

8060

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16

Documents

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED … · Other sales and services 125,260$ $ 95,780133,538 $ Investment income $ - $ 18,99416,498 $ Gifts and donations $ 15,000 $ 60,74866,798