Englefeld Protestant Separate School Division # 132 Annual ......Speech and language pathologist Student counsellors Pr ogramming highlights for 2013 -2014 include d : EAL – In recent

Englefeld Protestant Separate School Division # 132 Annual Report 2013-2014

Englefeld Protestant Separate SD Annual Report 2013-2014 Page | 1

Table of Contents Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Highlights/Accomplishments for 2013-14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

School Division Profile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

About Us Division Mission Statement Division Vision Statement Division Guiding Principles

Program Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

School Division Planning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Strategic Plan Continuous Improvement and Accountability Framework

The School Division in the Community . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Community and Parent Involvement Community Partnerships

Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

The Board of Education School Community Councils

Our Students and Staff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Students Staff Profile

Indicators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Grade 12 Graduation Average Final Marks Grade 7 to 10 Transitions Credit Attainment

System Accountability and Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

School Community Councils and Learning Improvement Plans

Facilities and Transportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Facilities Student Transportation

Financial Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Revenue and Expenses with Budget to Actual Comparison


Appendix A: Management Report and Audited Financial Statements . . . . . . . . . . . . . . . . . . . . . . . .21

Appendix B: School List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . .44

Appendix C: Payee List – 2013-2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44

Board of Education Remuneration Personal Services Supplier Payments Other Expenditures

Englefeld Protestant Separate School Division # 132

Box 100, Englefeld, SK S0K 1N0

Phone: (306) 287-3568 Fax: (306) 287-3569

Website: http://www.englefeld.ca/School/HomeSchool.html

http://www.englefeld.ca/School/HomeSchool.html



Highlights/Accomplishments for 2013-2014

Englefeld Protestant Separate School Division has a lot to be proud of this year. Our students and staff have helped to create a setting in which “quality education in a caring, supportive and challenging environment” is the central focus. Congratulations to everyone who contributed to our success in 2013-2014. Below are some highlights:

Graduation Rates – Englefeld Protestant Separate School Division’s graduation rate is to be celebrated. It has been one of the highest graduation rates in the province for several years. We are very proud. Congratulations to both students and staff.

Literacy – Resources were put in place that enabled the introduction of the Literacy CAFÉ in Grades 5 and 6

Programming for Newcomers – In recent years, Englefeld School has provided a welcoming and supportive environment for students who are newcomers from other parts of the world. Over the past year we have welcomed even more newcomers and expect the trend to continue as industries in the area continue to grow.

Supports for Students—In 2013-2014 Englefeld Protestant Separate School Division expanded our agreement with Horizon School Division to provide support services such as student counselling and speech language services.


Introduction

This annual report presents an overview of Englefeld Protestant Separate School Division’s activities and results for the fiscal year September 1, 2013 to August 31, 2014.

This annual report provides a snapshot of Englefeld Protestant Separate School Division, its governance structures, students, staff, programs and facilities, student achievement, transitions, as well as system accountability and governance.

In addition to detailing the School Division’s activities and performance, this report outlines how the Division is implementing its strategic plan, provides a report from management endorsing the financial overview and audited financial statements.

Financial statements included in this report have been audited by an independent auditor following the Canadian Generally Accepted Auditing Standards.


School Division Profile

About Us

Englefeld Protestant Separate School Division is a small rural school division with one school located in the community of Englefeld. The Division is unique in that it is the only Protestant Separate School Division in Saskatchewan. The Division is located in central Saskatchewan and encompasses 265 square kilometres.

The economy of the Englefeld area is mixed but predominantly based on agriculture and manufacturing.

Division Mission Statement

Englefeld Protestant Separate School Division will provide:

A quality education for all children in an environment that is caring, supportive and challenging

All students with opportunities for Christian spiritual growth.

Division Guiding Principles

We Believe:

that the Christian religion is an important element of Englefeld School that through formal education the ethical and moral values of the community will

be passed on to the children that every student will be provided with equitable educational opportunities that community involvement will enhance the quality of education provided to our

children that education goals can be achieved with hard work that an important component of education is the development of a high degree of

confidence and self esteem that everyone who works within the EPSSD has an important role in our school that to achieve success in education in our children, we must all work together.


Program Overview

The students in Englefeld Protestant Separate School Division are diverse. They vary in age, personal circumstances, learning styles, interests, and individual strengths and needs. In order to provide the best education possible for all our students, Englefeld School has utilized a variety of approaches to provide a wide range of programs for our students. How well the school has met student needs is exemplified by the graduation rates which remain the envy of other provincial schools. Englefeld School truly is an example of a “little school that could” compete with all schools in Saskatchewan.

Central to the program in the school is the provincially-mandated core curricula, broad areas of learning and cross-curricular competencies. Classroom instruction is designed to incorporate differentiated instruction, First Nations and Métis (FNM) content, perspectives and ways of knowing, and the adaptive dimension.

In addition, the school offers specialized programming that responds to the needs of its students. The following list identifies additional programs in operation at Englefeld School:

Core French instruction

Distance education

English as an Additional Language programming

Music programming

Nutrition programs

Technology-enhanced learning

Additional services and supports are offered to students and teachers through contracts with individuals and the surrounding school division, Horizon School Division including:

Occupational Therapist

Educational psychologist

Speech and language pathologist

Student counsellors

Programming highlights for 2013-2014 included:

EAL – In recent years, Englefeld School has experienced a resurgence in the number of newcomers from other parts of the world. Fortunately, the school staff has the experience of past waves of immigration and supports were in place to support the newcomers in 2013-2014. As the percentage of EAL students has increased to approximately 30% of the school enrolment it has tested the supports in place. We anticipate even more newcomers in the years ahead as the major local industry has plans in place to bring in a large number of additional immigrant workers.

Instructional Strategies – All staff members have worked to increase their skills and repertoire in the area of differentiated instruction to ensure the learning needs of all students are being met.

Grade 3 Reading – Research demonstrates that students who are reading below grade level by the middle of Grade 3 are likely to have difficulty reading for the rest of their school career. In mid-2013-2014, 100% of the Grade 3 students in Englefeld Protestant Separate School Division were reading below grade level. The school has initiated a program of intensive intervention for those students. This program features:

Differentiated Instructional strategies

Literacy CAFÉ (Grades 5 and 6)

Home reading program


Individualized support with Educational Assistants (EA)

School Community Council (SCC) purchased Nelson Guided Independent Reading Program for Grade

2 and 3 reading levels

One on One time with Learning Resource Teacher (LRT)

Volunteers come to the school to listen to the children read (one on one)

School Division Planning

The small size of the Englefeld Protestant Separate School Division # 132 has allowed a more informal approach to strategic planning than would be required in a larger division. The Division has focused on Ministry targets while maintaining some of the historical strengths of the school.

The Board’s plan provides overall direction and serves as an anchor to ensure that reporting processes and Division priorities are aligned with the four Ministry pillars:

higher literacy and achievement;

equitable opportunities;

smooth transitions; and,

system accountability and governance. These four areas are the foundation of the Englefeld Protestant Separate School Division strategic plan which identifies measurable goals for each priority area listed above and outlines strategies to achieve the goals relevant to each priority.


The School Division in the Community

Englefeld Protestant Separate School Division is an integral part of community life in Englefeld. The School and the Division exist because of the support and commitment of the community. The school has long standing partnerships with many aspects of the community both local and in the surrounding area.

Community and Parent Involvement

Research has shown that students achieve at higher levels in school when their parents/guardians and other community members are involved in education. Englefeld School is fortunate to have high levels of community support but the staff continues to look for ways to more fully involve parents in the education of their children. The Englefeld School Community Council (SCC) is serving as a mechanism for connecting community and school. The SCC plays a role in governance (described more fully in the next section) and is increasingly involved in the development and support of the school’s learning improvement efforts.

Community Partnerships

Englefeld Protestant Separate School Division and Englefeld School have established a range of formal and informal community partnerships in order to promote student learning and ensure that students’ school experience is positive and successful. The largest area employer, Schulte Industries, partners with the school in a variety of ways to support school programming, particularly, in the EAL area. Other area businesses support school activities such as graduation awards. In the 2013-2014 school year Englefeld Protestant Separate School Division entered into an agreement with Horizon School Division to provide administrative services from the Director of Education, the Chief Financial Officer and other professional services. This agreement has added a very welcome increase in supports to our division.

Governance The Board of Education provides governance for Englefeld Protestant Separate School Division as a whole and the School Community Council provides advice to the school.

The Board of Education

Englefeld Protestant Separate School Division is governed by a five-person elected Board of Education. The Education Act, 1995 gives the Board of Education the authority to “administer and manage the educational affairs of the school division” and to “exercise general supervision and control over the schools in the school division”. The current Board of Education was acclaimed on October 24, 2012 and will serve a four-year term. Board of Education members are:

Board Chair ...................................................... Deanna Miskolczi Vice Chair ................................................................. Larry Muller Trustee .............................................................. Donna Altermatt

Trustee ....................................................................... Rod Andrew Trustee .......................................................... Donna Zimmerman

A list of the remuneration paid to board members is provided in Appendix C.


School Community Councils

The Board of Education has established a School Community Council (SCC) for Englefeld School.

The Education Regulations, 1986 require school divisions to undertake orientation, training, development and networking opportunities for their SCC members. In 2013-2014 Englefeld Protestant Separate School Division again provided informal and ongoing training for SCC members. The Regulations also require School Community Councils to work with school staff to develop an annual school Learning Improvement Plan and to recommend that plan to the Board of Education.

School Community Councils are also expected to facilitate parent and community participation in planning and to provide advice to the Board of Education, the school’s staff, and other agencies involved in the learning and development of students.

The advice the SCCs give to the Board of Education encompasses policies, programs, and educational service delivery.

The advice the SCCs give to the school staff relates to the school’s programs.

SCCs enable the community to participate in educational planning and decision making, and promote shared responsibility for learning among community members, students and educators.

The Englefeld School SCC is comprised of the required number of elected and appointed members, as outlined in The Education Regulations, 1986.


Our Students and Staff

The sections that follow provide information about the Englefeld Protestant Separate School Division’s students and staff.

Students

In 2013-2014, 97 students were enrolled with Englefeld Protestant Separate School Division. This is an increase in enrolment over the previous year.

For 2013-2014 we realized a significant increase in our Kindergarten to Grade 3 enrolment which will help ensure stability for the future. We are optimistic that newcomers from other parts of the world will continue to move to the Englefeld area as industries in our part of the province also continue to grow.

Figure 1: Enrolment by Grade Grouping – September 30

Note: The table above identifies the actual number

of students enrolled in each grade as of September 30 of each year.

Source: Ministry of Education, 2014

2011-12 2012-13 2013-14

K to 3 19 22 29

4 to 6 19 23 17

7 to 9 26 22 31

10 to 12 25 23 20

Total 89 90 97

GradeSchool Year


Staff Profile

Figure 2 below provides an overview of all Division staff.

Figure 2: School Division Staff – 2013-2014

Job Category FTEs

Classroom teachers 7.6

Principals, vice-principals 1.0

Other educational staff – e.g., educational psychologists, educational assistants, school community coordinators, speech language pathologists

2.5

Administrative and financial staff – e.g., clerks, accountants, IT people, administrative assistants, secretaries

.60

Plant operations and maintenance – e.g., caretakers, handypersons, carpenters, plumbers, electricians, gardeners, supervisors

.50

Transportation – e.g., bus drivers, mechanics, parts persons, bus cleaners, supervisors

3.0

Senior management team – e.g. chief financial officer, director of education, superintendents

Contracted Services

Total Full-Time Equivalent (FTE) Staff 15.2

Notes:

• The number of employees listed above represents full-time equivalents (FTEs). The actual number of employees is greater because some people work part-time or seasonally.

• Some individuals are counted in more than one category. For example, a teaching principal might be counted 0.4 as a classroom teacher and 0.6 as a principal.

• Information for all staff is at August 31, 2014.

Source: Division Records

Englefeld Protestant Separate School Division is an important employer in the Englefeld area and makes a significant contribution to the regional economy. The Division employs the full-time equivalent of 15.2 people.

Senior Management Team

The Director of Education, Kevin Garinger, reports directly to the Board of Education. The Chief Financial Officer, Lionel Diederichs is responsible for, business and operations of the school division.


Indicators

Grade 12 Graduation

Three-Year Graduation Rates – Unfortunately, the data suppression guidelines prevent full reporting of graduation rates due to the small class sizes within the Englefeld Protestant Separate School Division. In years where this information has been reported (e.g. 2008-09) Englefeld School has consistently been well above provincial averages and frequently has achieved a graduation rate of 100%. See Figure 3.

Figure 3: Grade 12 Graduation – Students Completing Grade 12 Within Three Years: Baseline Year with Two Most Recent Years

Note: On-time graduation rates are calculated as the percentage of students who complete Grade 12 within 3 years of ‘starting’ Grade 10. Results for populations of 10 or fewer have not been reported to avoid identifying individuals or very small groups of students. FNMI students are those who choose to self-identify as First Nations (Registered/Treaty/Status Indian, Non-Status Indian), Métis, or Inuit/Inuk. Non-FNMI students are those who do not identify themselves to be FNMI, and may include FNMI students who choose not to self-identify. Source: Ministry of Education, 2014

74

.6%

83

.3%

31

.8%

74

.8%

83

.9%

37

.4%

74

.7%

83

.4%

40

.3%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

All Non-FNMI FNMI All Non-FNMI FNMI All Non-FNMI FNMI

Province Englfld

(Students Completing Grade 12 Within 3 Years of 'starting' Grade 10)On-time Graduation Rates, Province and Englefeld

Graduating by ... Graduating by ... Graduating by ...

(2006-2007 cohort) (2010-2011 cohort) (2011-2012 cohort)

2008-2009 2012-2013 2013-2014


Note: On-time graduation rates are calculated as the percentage of students who complete Grade 12 within 3 years of ‘starting’ Grade 10. Results for populations of 10 or fewer have not been reported to avoid identifying individuals or very small groups of students. FNMI students are those who choose to self-identify as First Nations (Registered/Treaty/Status Indian, Non-Status Indian), Métis, or Inuit/Inuk. Non-FNMI students are those who do not identify themselves to be FNMI, and may include FNMI students who choose not to self-identify. Source: Ministry of Education, 2014

Five-Year Graduation Rates – Some students need more time to complete all the courses necessary to graduate, and so they continue in school longer than three years after beginning Grade 10. The graduation rate increases when these extra years of schooling are considered. By June 2014, 100% of all Englefeld students who had entered Grade 10 five years previously had graduated. Englefeld School’s five-year graduation rate for all students shows the same pattern as the three-year graduation rate, but the data suppression rules prevent a full reporting of all years.

Figure 4: Grade 12 Graduation – Students Completing Grade 12 Within Five Years: Baseline Year with Two Most Recent Years

Note: Extended-time graduation rates are calculated as the percentage of students who complete Grade 12 within 5 years of ‘starting’ Grade 10 (and include those who graduate on-time).

81

.4% 8

6.8

%

47

.1%

80

.1%

87

.0%

50

.0%

81

.4%

88

.1%

54

.2%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%


Province Englfld

(Students Completing Grade 12 Within 5 Years of 'starting' Grade 10)

Extended-time Graduation Rates, Province and Englefeld

Graduating by ...

(2004-2005 cohort)

Graduating by ... Graduating by ...

(2008-2009 cohort) (2009-2010 cohort)

2008-2009 2012-2013 2013-2014


Results for populations of 10 or fewer have not been reported to avoid identifying individuals or very small groups of students. FNMI students are those who choose to self-identify as First Nations (Registered/Treaty/Status Indian, Non-Status Indian), Métis, or Inuit/Inuk. Non-FNMI students are those who do not identify themselves to be FNMI, and may include FNMI students who choose not to self-identify. Source: Ministry of Education, 2014

Average Final Marks

When registering for secondary level courses, students have many opportunities for choice.

In 2013-2014, the average final marks for all Englefeld students cannot be reported due to small class size.

Figure 5: Average Final Marks in Selected Secondary-Level Courses

Note: Results for populations of 10 or fewer have not been reported to avoid identifying individuals or very small groups of students (nr). FNMI students are those who choose to self-identify as First Nations (Registered/Treaty/Status Indian, Non-Status Indian), Métis, or Inuit/Inuk. Non-FNMI students are those who do not identify themselves to be FNMI, and may include FNMI students who choose not to self-identify. Source: Ministry of Education, 2014

Province Englefeld SD Province Englefeld SD Province Englefeld SD

English Language Arts A 10 72.0 nr 74.9 nr 60.2 nr

English Language Arts B 10 71.7 nr 74.6 nr 59.5 nr

Science 10 70.6 nr 73.9 nr 57.1 nr

Math: Workplace and Apprenticeship 10 71.1 nr 74.6 nr 57.8 nr

Math: Foundations and Pre-calculus 10 70.7 nr 72.9 nr 58.5 nr

English Language Arts 20 73.0 nr 74.9 nr 63.3 nr

Math: Workplace and Apprenticeship 20 66.9 nr 69.6 nr 59.5 nr

Math: Foundations 20 72.6 nr 74.2 nr 63.5 nr

Average Final Marks in Selected Secondary-Level Courses 2013-14

SubjectAll Students Non-FNMI FNMI


Credit Attainment

Saskatchewan secondary students must accumulate at least 24 secondary-level credits in order to graduate. This means that to graduate within a three-year period after beginning Grade 10, students must accumulate at least eight credits per year. In 2013-2014 100% of Englefeld students earned eight or more credits per year.

Credit attainment by Englefeld students has consistently been higher in comparison to the provincial results.

Figure 6: Proportion of Secondary Students Attaining 8 or More Credits per Year: Baseline Year with Two Most Recent Years

Note: Proportions are calculated as the percentage of students enrolled at the secondary level on September 30 attaining eight of more credits yearly. Results for populations of 10 or fewer have not been reported to avoid identifying individuals or very small groups of students. FNMI students are those who choose to self-identify as First Nations (Registered/Treaty/Status Indian, Non-Status Indian), Métis, or Inuit/Inuk. Non-FNMI students are those who do not identify themselves to be FNMI, and may include FNMI students who choose not to self-identify. Source: Ministry of Education, 2014

System Accountability and Governance

59

.9%

70

.1%

24

.5%

60

.4%

70

.4%

29

.5%

60

.2%

70

.3%

28

.8%

0%

20%

40%

60%

80%

100%


2008-09 2012-13 2013-14

Proportion of Secondary Students Attaining 8 or More Credits Yearly

Province Englefeld SD


Englefeld Protestant Separate School Division is committed to operational effectiveness, transparency and fiscal responsibility, and to the long-term stability of the education system in order to provide a high quality education for all students.

School Community Councils and Learning Improvement Plans

School Community Councils (SCCs) are required by legislation to cooperate with school staff to develop a school Learning Improvement Plan that is in accordance with the school division’s strategic plan and to recommend the Learning Improvement Plan to the Board of Education.

Facilities and Transportation

Facilities

Englefeld Protestant Separate School Division rents a school facility from the Village of Englefeld.

The Village of Englefeld pays careful attention to the maintenance of the school building. Minor repairs are done as needed and a painting schedule ensures the buildings are always fresh looking. The building is cleaned every day and major cleaning such as washing of walls and shelving takes place during the summer.

Student Transportation

Englefeld Protestant Separate School Division operates its own transportation service and owns a fleet of four buses of various sizes.

Figure 7: Student Transportation 2013-2014

Transportation Statistics

Students transported 33

In-town students transported (included in above) 0

Transportation routes 3

Number of buses 4 (includes 1 spare)

Kilometres travelled daily 434

Average age of bus 5.33 years

Capacity utilized on buses 25%

Average one-way ride time 52 min.

Longest one-way ride time 70 min.

Number of school trips per year 10

Kilometres per year travelled on school trips 2872

Cost per student per year $3,361

Cost per kilometre travelled $1.50

Source: Division Records


Financial Overview

In 2013-2044, as in previous years, Englefeld Protestant Separate School Division’s single largest expense was instruction. Instruction includes salaries and benefits for teachers and other staff who work with students, resource materials and classroom supplies. The second largest expense was transportation of students.

The largest single source of revenue was the provincial grant followed by property taxes.

Revenue and Expenses Figure 8 below summarizes Englefeld Protestant Separate School Division’s main categories of revenues and expenditures in 2013-2014.

Figure 8: Summary of Revenue and Expenses – 2013-2014

Englefeld Protestant Separate SD Annual Report 2013-2014 Page 19

Budget to Actual Expenditures and Variances

Figure 9 below summarizes Englefeld Protestant Separate School Division’s main categories of revenues and expenditures in 2013-2014.

Appendix A: Management Report and Audited Financial Statements

19

Independent Auditors’ Report

To the Board of Education of Englefeld Protestant Separate School Division No. 132:

We have audited the accompanying financial statements of Englefeld Protestant Separate School Division No. 132, which comprise the statement of financial position as at August 31, 2014, statements of operations and accumulated surplus and related schedules, changes in net financial assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluat ing the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of Englefeld Protestant Separate School Division No. 132 as at August 31, 2014, and the results of its operations, change in net financial assets and its cash flows for the year then ended in accordance with Canadian public sector accounting standards. Melfort, SK November 25, 2014 Chartered Accountants

… page 2

Englefeld Protestant Separate School Division No. 132

Statement of Operations and Accumulated Surplus

for the year ended August 31, 2014

2014 2014 2013Budget Actual Actual

REVENUES(Note 8)

Property Taxation 97,670 93,156 85,655

Grants 1,113,860 1,175,908 1,107,358 Other 18,760 13,312 12,441

Total Revenues (Schedule A) 1,230,290 1,282,376 1,205,454

EXPENSES

Governance 28,620 29,694 25,201

Administration 81,885 80,441 68,058

Instruction 917,451 894,147 861,329

Plant 86,630 91,758 82,815 Transportation 150,683 149,163 131,237

Total Expenses (Schedule B) 1,265,269 1,245,203 1,168,640

Surplus (Deficit) for the Year (34,979) 37,173 36,814

Accumulated Surplus, Beginning of Year 848,339 848,338 811,524

Accumulated Surplus, End of Year 813,360 885,511 848,338

The accompanying notes and schedules are an integral part of these statements

… page 3


Statement of Changes in Net Financial Assets


2014 2014 2013Budget Actual Actual

(Note 8)

Net Financial Assets, Beginning of Year 698,297 698,297 633,459

Changes During the Year:

Surplus (Deficit) for the Year (34,979) 37,173 36,814

Acquisition of Tangible Capital Assets (Schedule C) - (19,110) -

Amortization of Tangible Capital Assets (Schedule C) 34,979 36,222 32,833 Net Acquistion of Prepaid Expenses - 885 (4,809)

Change in Net Financial Assets - 55,170 64,838

Net Financial Assets, End of Year 698,297 753,467 698,297


… page 4

Englefeld Protestant Separate School Division No. 132Statement of Cash Flows


2014 2013

OPERATING ACTIVITIES

Surplus for the Year 37,173 36,814

Add Non-Cash Items Included in Surplus (Schedule D) 36,222 32,833

Net Change in Non-Cash Operating Activities (Schedule E) 9,536 (11,724)

Cash Provided by Operating Activities 82,931 57,923

CAPITAL ACTIVITIES

Cash Used to Acquire Tangible Capital Assets (19,110) -

Cash Used by Capital Activities (19,110) -

INCREASE IN CASH AND CASH EQUIVALENTS 63,821 57,923

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 642,318 584,395

CASH AND CASH EQUIVALENTS, END OF YEAR 706,139 642,318


A-1

Englefeld Protestant Separate School Division No. 132Schedule A: Supplementary Details of Revenue


2014 2014 2013

Budget Actual Actual

Property Taxation Revenue

Tax Levy Revenue:

Property Tax Levy Revenue 97,670 93,177 86,448

Total Property Tax Revenue 97,670 93,177 86,448

Additions to Levy:

Penalties - (21) 213

Total Additions to Levy - (21) 213

Deletions from Levy:

Discounts - - (1,006)

Total Deletions from Levy - - (1,006)

Total Property Taxation Revenue 97,670 93,156 85,655

Grants:

Operating Grants

Ministry of Education Grants:

K-12 Operating Grant 1,113,860 1,175,908 1,107,358

Total Operating Grants 1,113,860 1,175,908 1,107,358

Total Grants 1,113,860 1,175,908 1,107,358

Other Revenue

Miscellaneous Revenue 7,260 1,824 1,490

Investments 11,500 11,488 10,951

Total Other Revenue 18,760 13,312 12,441

TOTAL REVENUE FOR THE YEAR 1,230,290 1,282,376 1,205,454

B-1

Englefeld Protestant Separate School Division No. 132Schedule B: Supplementary Details of Expenses


2014 2014 2013


Governance Expense

Board Members Expense 3,490 4,442 3,070

Professional Development- Board Members 900 - -

Advisory Committees 1,500 1,500 1,500 Other Governance Expenses 22,730 23,752 20,631

Total Governance Expense 28,620 29,694 25,201

Administration Expense

Salaries 48,320 48,672 47,506

Benefits 9,010 9,110 4,112

Supplies & Services 14,475 13,886 13,132

Communications 2,580 2,258 1,081

Travel 6,000 5,990 2,227 Professional Development 1,500 525 -

Total Administration Expense 81,885 80,441 68,058

Instruction Expense

Instructional (Teacher Contracts) Salaries 671,920 676,147 654,209

Instructional (Teacher Contracts) Benefits 39,000 34,656 36,933

Program Support (Non-Teacher Contract) Salaries 79,150 64,804 69,825

Program Support (Non-Teacher Contract) Benefits 14,750 11,733 11,232

Instructional Aids 35,210 32,763 31,781


Non-Capital Furniture & Equipment 6,500 4,476 4,201

Communications 3,350 2,923 4,176

Travel 4,000 1,291 4,969

Professional Development 6,500 5,444 2,706

Student Related Expense 1,800 1,417 693 Amortization of Tangible Capital Assets 12,921 14,784 9,064

Total Instruction Expense 917,451 894,147 861,329

B-2

Englefeld Protestant Separate School Division No. 132Schedule B: Supplementary Details of Expenses


2014 2014 2013


Plant Operation & Maintenance Expense

Salaries 20,310 20,306 19,823

Benefits 4,900 4,606 4,401 Building Operating Expenses 61,420 66,846 58,591

Total Plant Operation & Maintenance Expense 86,630 91,758 82,815

Student Transportation Expense

Salaries 45,730 52,603 49,354

Benefits 9,300 8,679 8,672


Non-Capital Furniture & Equipment 23,655 21,939 14,287

Contracted Transportation 14,340 12,011 10,352 Amortization of Tangible Capital Assets 22,058 21,438 23,769

Total Student Transportation Expense 150,683 149,163 131,237

TOTAL EXPENSES FOR THE YEAR 1,265,269 1,245,203 1,168,640


Schedule C - Supplementary Details of Tangible Capital Assets


Furniture Computer

School and Hardware and Computer

Buses Equipment Audio Equipment Software 2014 2013

Tangible Capital Assets - at Cost:

Opening Balance as of September 1 331,023 43,881 100,337 13,753 488,994 488,994

Additions/Purchases - 6,479 12,631 - 19,110 -

Closing Balance as of August 31 331,023 43,881 100,337 13,753 508,104 488,994

Tangible Capital Assets - Amortization:

Opening Balance as of September 1 203,306 42,766 84,878 13,753 344,703 311,870

Amortization of the Period 21,438 789 13,995 - 36,222 32,833

Closing Balance as of August 31 224,744 43,555 98,873 13,753 380,925 344,703

Net Book Value:

Opening Balance as of September 1 127,717 1,115 15,459 - 144,291 177,124

Closing Balance as of August 31 106,278 326 1,464 - 127,178 144,291

Change in Net Book Value (21,439) (789) (13,995) - (17,113) (32,833)

Sch

C

Englefeld Protestant Separate School Division No. 132Schedule D: Non-Cash Items Included in Surplus


2014 2013

Non-Cash Items Included in Surplus:

Amortization of Tangible Capital Assets (Schedule C) 36,222 32,833

Total Non-Cash Items Included in Surplus 36,222 32,833

Englefeld Protestant Separate School Division No. 132Schedule E: Net Change in Non-Cash Operating Activities


2014 2013

Net Change in Non-Cash Operating Activities:

Decrease (Increase) in Accounts Receivable 529 (6,960)

(Decrease) in Provincial Grant Overpayment - (2,340)

Increase In Accounts Payable and Accrued Liabilities 8,122 2,385

Decrease (Increase) in Prepaid Expenses 885 (4,809)

Total Net Change in Non-Cash Operating Activities 9,536 (11,724)

ENGLEFELD PROTESTANT SEPARATE SCHOOL DIVISION No. 132 NOTES TO THE FINANCIAL STATEMENTS

As at August 31, 2014

Page 10

1. AUTHORITY AND PURPOSE The school division operates under the authority of The Education Act, 1995 of Saskatchewan as a corporation under the name of “The Board of Education of the Englefeld Protestant Separate School Division No. 132” and operates as “the Englefeld Protestant Separate School Division No.132”. The school division provides education services to residents within its geographic region and is governed by an elected board of trustees.

The school division is funded mainly by grants from the Government of Saskatchewan and a levy on the property assessment included in the school division’s boundaries at mill rates determined by the provincial government and agreed to by the Board of Education, although separate school divisions continue to have a legislative right to set their own mill rates. The school division is exempt from income tax and is a registered charity under the Income Tax Act.

2. SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared in accordance with Canadian public sector accounting standards for other government organizations as established by the Public Sector Accounting Board (PSAB) and as published by the Chartered Professional Accountants of Canada (CPA Canada). Significant aspects of the accounting policies adopted by the school division are as follows: a) Adoption of New Public Sector Accounting (PSA) Standards

In 2014, the school division adopted the new PSA standard PS3260 Liability for Contaminated Sites. Detailed information on the impact of the adoption of this new PSA standard is provided in Note 11 Accounting Changes.

b) Reporting Entity

The financial statements include all of the assets, liabilities, revenues and expenses of the school division reporting entity.

c) Basis of Accounting

The financial statements are prepared using the accrual basis of accounting.

d) Measurement Uncertainty and the Use of Estimates Canadian public sector accounting standards requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the year. Measurement uncertainty that may be material to these financial statements exists for:

property taxation revenue of $93,156 (2013 - $85,655) because final tax assessments may differ from initial estimates,

uncollectible taxes of $2,500 (2013 - $2,500) because actual collectability may differ from initial estimates,

useful lives of capital assets and related amortization of $380,925 (2013 - $344,703) because the actual useful lives of the capital assets may differ from their estimated economic lives, and



Page 11

2. SIGNIFICANT ACCOUNTING POLICIES – continued d) Measurement Uncertainty and the Use of Estimates – continued

accrual for retroactive teachers’ salaries related to the 2014 year of $10,713 (2013 - $NIL) because the actual amount in the final negotiated contract may differ from initial estimates.

These estimates and assumptions are reviewed periodically and, as adjustments become necessary, they are reported in earnings in the periods in which they become known. While best estimates are used for reporting items subject to measurement uncertainty, it is reasonably possible that changes in future conditions, occurring within one fiscal year, could require material changes in the amounts recognized or disclosed.

e) Financial Instruments

Financial instruments are any contracts that give rise to financial assets of one entity and financial liabilities or equity instruments of another entity. A contract establishing a financial instrument creates, at its inception, rights and obligations to receive or deliver economic benefits. The school division recognizes a financial instrument when it becomes a party to a financial instrument. The financial assets and financial liabilities portray these rights and obligations in the financial statements. Financial instruments of the school division include cash and cash equivalents, accounts receivable, accrued salaries and benefits and accounts payable and accrued liabilities. All financial assets and liabilities are measured at cost or amortized cost. Transaction costs are a component of cost for financial instruments measured using cost or amortized cost. For financial instruments measured using amortized cost, the effective interest rate method is used to determine interest revenue or expense. Impairment losses such as write-downs or write-offs are reported in the statement of operations and accumulated surplus from operations. Gains and losses on financial instruments measured at cost or amortized cost are recognized in the statement of operations and accumulated surplus from operations in the period the gain or loss occurs.

f) Financial Assets

Financial assets are assets that could be used to discharge existing liabilities or finance future operations and are not for consumption in the normal course of operations. Valuation allowances are used where considered necessary to reduce the amounts reported for financial assets to their net realizable value. Cash and Cash Equivalents consist of cash, bank deposits and highly liquid investments with initial maturity terms of three months or less and held for the purpose of meeting short-term operating cash commitments rather than for investing purposes. Accounts Receivable includes taxes receivable, provincial grants receivable and other receivables. Taxes receivable represent education property taxes assessed or estimated owing to the end of the fiscal period but not yet received. The allowance for uncollected taxes is a valuation allowance used to reduce the amount reported for taxes receivable to the estimated net recoverable amount. The allowance represents management’s estimate of the amount of taxes that will not be collected taking into consideration prior years’ tax collections



Page 12

2. SIGNIFICANT ACCOUNTING POLICIES – continued

f) Financial Assets – continued and information provided by municipalities regarding collectability of outstanding balances. Provincial grants receivable represent operating and capital grants earned but not received at the end of the fiscal year, provided reasonable estimates of the amounts can be made. Grants are earned when the events giving rise to the grant have occurred, the grant is authorized and any eligibility criteria have been met. Other receivables are recorded at cost less valuation allowances. These allowances are recorded where collectability is considered doubtful.

g) Non-financial Assets Non-financial assets are assets held for consumption in the provision of services. These assets do not normally provide resources to discharge the liabilities of the school division unless they are sold. Tangible Capital Assets have useful lives extending beyond the accounting period, are used by the school division to provide services to the public and are not intended for sale in the ordinary course of operations. Tangible capital assets include school buses, furniture and equipment, computer hardware and audio equipment and computer software. Tangible capital assets are recorded at cost and include all costs directly attributable to the acquisition, design, construction, development, installation and betterment of the tangible capital asset. The school division does not capitalize interest incurred while a tangible capital asset is under construction. The cost of depreciable tangible capital assets, net of any residual value, is amortized on a straight line basis over their estimated useful lives as follows:

School buses 12 years

Furniture and equipment 10 years

Computer hardware and audio visual equipment 5 years

Computer software 5 years

Prepaid Expenses are prepaid amounts for goods or services such as fees, consumable supplies, insurance, and other expenses which will provide economic benefits in one or more future periods.

h) Liabilities Liabilities are present obligations arising from transactions and events occurring prior to year-end, which will be satisfied in the future through the use of assets or another form of economic settlement.

Accounts Payable and Accrued Liabilities include accounts payable and accrued liabilities owing to third parties and employees for work performed, goods supplied and services rendered, but not yet paid, at the end of the fiscal period.



Page 13


i) Employee Pension Plans Employees of the school division participate in the following pension plans: Multi-employer Defined Benefit Plans The school division’s employees participate in one of the following multi-employer defined benefit plans:

i) Teachers participate in the Saskatchewan Teachers’ Retirement Plan (STRP) or

Saskatchewan Teachers’ Superannuation Plan (STSP). The school division’s obligation for these plans is limited to collecting and remitting contributions of the employees at rates determined by the plans.

ii) Other employees participate in the Municipal Employees’ Pension Plan (MEPP). In

accordance with PSAB, the plan is accounted for as a defined contribution plan whereby the school division’s contributions are expensed when due.

j) Revenue Recognition

Revenues are recorded on the accrual basis. Revenues are recognized in the period in which the transactions or events occurred that give rise to the revenues, provided the amount to be received can be reasonably estimated and collection is reasonably assured.

The school division’s major sources of revenues include the following: i) Government Transfers (Grants):

Grants from governments are considered to be government transfers. In accordance with PS3410 standard, government transfers are recognized as revenues when the transfer is authorized, all eligibility criteria have been met, the amount can be estimated and collection is reasonably assured except when, and to the extent, stipulations by the transferor give rise to an obligation that meets the definition of a liability. For transfers with stipulations, revenue is recognized in the statement of operations and accumulated surplus from operations as the stipulation liabilities are settled.

ii) Property Taxation: Property tax is levied and collected on a calendar year basis. Uniform education property tax mill rates are set by the Government of Saskatchewan and agreed to by the Board of Education, although separate school divisions continue to have a legislative right to set their own mill rates. Tax revenues are recognized on the basis of time with 1/12th of estimated total tax revenue recorded in each month of the school division’s fiscal year. The tax revenue for the September to December portion of the fiscal year is based on the actual amounts reported by the municipalities for the calendar taxation year. For the January to August portion of its fiscal year, the school division estimates tax revenue based on estimate information provided by municipalities who levy and collect the property tax on behalf of the school division. The final annual taxation amounts are reported to the division by each municipality following the conclusion of each calendar taxation year, and any difference between final amounts and the school division’s estimates is recorded as an adjustment to revenue in the next fiscal year.

iii) Interest Income: Interest is recognized on an accrual basis when it is earned.



Page 14


j) Revenue Recognition – continued

iv) Other (Non-Government Transfer) Contributions:

Unrestricted contributions are recognized as revenue in the year received or in the year the funds are committed to the school division if the amount can be reasonably estimated and collection is reasonably assured. Externally restricted contributions are contributions for which the contributor has placed restrictions on the use of the resources. Externally restricted contributions that are to be held in perpetuity are recognized as revenue in the year in which they are received or committed if the amount can be reasonably estimated and collection is reasonably assured. Externally restricted contributions that are not held in perpetuity are deferred until the resources are used for the purpose specified, at which time the contributions are recognized as revenue. In-kind contributions are recorded at their fair value when they are received.

k) Statement of Remeasurement Gain and Losses

The school division has not presented a statement of remeasurement gains or losses because it does not have financial instruments that give rise to remeasurement gains or losses.

3. EXPENSES BY FUNCTION AND ECONOMIC CLASSIFICATION

FunctionSalaries &

Benefits

Goods &

Services

Amortization

of TCA

2014

Budget

2014

Actual

2013

Actual

Governance $ 5,942 $ 23,752 $ - $ 28,620 $ 29,694 $ 25,201

Administration $ 57,782 $ 22,659 $ - $ 81,885 $ 80,441 68,058

Instruction $ 787,340 $ 92,023 $ 14,784 $ 917,451 $ 894,147 861,329

Plant $ 24,912 $ 66,846 $ - $ 86,630 $ 91,758 82,815

Transportation $ 61,282 $ 66,443 $ 21,438 $ 150,683 $ 149,163 131,237

TOTAL $ 937,258 $ 271,723 $ 36,222 $ 1,265,269 $ 1,245,203 $ 1,168,640

4. PENSION PLANS

Multi-employer Defined Benefit Plans Information on the multi-employer pension plans to which the school division contributes is as follows: i) Saskatchewan Teachers’ Retirement Plan (STRP) or Saskatchewan Teachers’ Superannuation

Plan (STSP): The STRP and STSP provide retirement benefits based on length of service and pensionable earnings. The STRP and STSP are funded by contributions by the participating employee members and the Government of Saskatchewan. The school division’s obligation to the STRP and STSP is limited to collecting and remitting contributions of the employees at rates determined by the plans. Accordingly, these financial statements do not include any expense for employer contributions to these plans. Net pension assets or liabilities for these plans are not reflected in these financial statements as ultimate responsibility for retirement benefits rests with the Saskatchewan Teachers’ Federation for the STRP and with the Government of Saskatchewan for the STSP.



Page 15

4. PENSION PLANS – continued Details of the contributions to these plans for the school division’s employees are as follows:

2013

STRP STSP TOTAL TOTAL

Number of active School Division members 10 1 11 10

Member contribution rate (percentage of salary) 7.8%-10% 6.05%-7.85% 6.05%-10% 6.05%-10%

Member contributions for the year 50,520$ 977$ 51,497$ 51,022$

2014

ii) Municipal Employees’ Pension Plan (MEPP): The MEPP provides retirement benefits based on length of service and pensionable earnings. The MEPP is funded by employer and employee contributions at rates set by the Municipal Employees’ Pension Commission. Every three years, an actuarial valuation is performed to assess the financial position of the plan and the adequacy of plan funding. Any actuarially determined deficiency is the responsibility of the participating employers and employees which could affect future contribution rates and/or benefits. The contributions to the MEPP by the participating employers are not segregated in separate accounts or restricted to provide benefits to the employees of a particular employer. As a result, individual employers are not able to identify their share of the underlying assets and liabilities, and the net pension assets or liabilities for this plan are not recognized in these financial statements. In accordance with PSAB requirements, the plan is accounted for as a defined contribution plan whereby the school division’s contributions are expensed when due. Details of the MEPP are as follows:

2014 2013

Number of active School Division members 8 7

Member contribution rate (percentage of salary) 8.15% 8.15%

School Division contribution rate (percentage of salary) 8.15% 8.15%

Member contributions for the year 10,482$ 10,160$

School Division contributions for the year 10,482$ 10,160$

Actuarial valuation date 31-Dec-13

31-Dec-12

(Restated)

Plan Assets (in thousands) 1,685,167$ 1,560,967$

Plan Liabilities (in thousands) 1,498,853$ 1,420,319$

Plan Surplus (in thousands) 186,314$ 140,648$



Page 16

5. ACCOUNTS RECEIVABLE All accounts receivable presented on the Statement of Financial Position are net of any valuation allowances for doubtful accounts. Details of account receivable balances and allowances are as follows:

Total Valuation Net of Total Valuation Net of

Receivable Allowance Allowance Receivable Allowance Allowance

Taxes Receivable 53,147$ 2,500$ 50,647$ 64,442$ 2,500$ 61,942$

Grant Receivable 10,713 - 10,713 - - -

Other Receivables 630 - 630 576 - 576

Total Accounts Receivable 64,490$ 2,500$ 61,990$ 65,019$ 2,500$ 62,519$

2014 2013

6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Details of accounts payable and accrued liabilities are as follows:

7. ACCUMULATED SURPLUS

Accumulated surplus represents the financial assets and non-financial assets of the school division less liabilities. This represents the accumulated balance of net surplus arising from the operations of the school division including school generated funds. Certain amounts of the accumulated surplus from operations, as approved by the board of education, have been designated for specific future purposes such as program expenditures and weekly indemnity plan. These internally restricted amounts are included in the accumulated surplus from operations presented in the statement of financial position. The school division does not maintain separate bank accounts for the internally restricted amounts.

2014 2013

Accrued Salaries and Benefits 14,662$ 4,104$

Supplier Payments - 2,436

Total Accounts Payable and Accrued Liabilities 14,662$ 6,540$



Page 17

7. ACCUMULATED SURPLUS – continued Details of accumulated surplus are as follows:

2014 2013

Invested in Tangible Capital Assets:

Net Book Value of Tangible Capital Assets 127,178$ 144,291$

S.286 pre-April 2009 capital reserves from prior years' operating surpluses (1) 342,000 342,000

Internally Resricted Surplus:

Designated for Program Expenditures 250,000 250,000

Designated for Weekly Indemnity Plan 30,000 30,000

280,000 280,000

Unrestricted Surplus 136,333 82,048

Total Accumulated Surplus from Operations 885,511$ 848,339$

(1) S.286 pre-April 2009 Capital Reserves from Prior Years' Operating Surpluses represents

capital reserves that were created by pre-April 2009 board of education motions that designated certain prior years' operating surpluses to be set aside for the purpose of future capital expenditures. Pursuant to S.286 of The Education Act, 1995, the school division is required to hold these reserves as a special fund for the purpose of constructing or acquiring any capital works that may be approved by the minister.

The purpose and nature of each Internally Restricted Surplus amount is as follows: Designated for Program Expenditures represents amounts restricted for the implementation and development of curricular and co-curricular initiatives that will help support teachers in their adaptation to and continual development of curricular needs and teaching methods to support students in their learning and outcomes. Designated for Weekly Indemnity Plan represents amounts restricted for unanticipated leave and associated costs that may occur to compensate for those leaves.

8. BUDGET FIGURES

Budget figures included in the financial statements were approved by the board of education on May 23, 2013 and the Minister of Education on August 23, 2013.



Page 18

9. RELATED PARTIES

These financial statements include transactions with related parties. The school division is related to all Province of Saskatchewan ministries, agencies, boards, school divisions, health authorities, colleges, and crown corporations under the common control of the Government of Saskatchewan. The school division is also related to non-Crown enterprises that the Government jointly controls or significantly influences. In addition, the school division is related to other non-Government organizations by virtue of its economic interest in these organizations. Related Party Transactions:

Transactions with these related parties are in the normal course of operations. Amounts due to or from and the recorded amounts of transactions resulting from these transactions are included in the financial statements and the table below. They are recorded at exchange amounts which approximate prevailing market rates charged by those organizations and are settled on normal trade terms.

2014 2013

Revenues:

Ministry of Education 1,175,908$ 1,107,358$

Saskatchewan Government Insurance - 1,490

1,175,908$ 1,108,848$

Expenses:

Saskatchewan Telecommunications 4,002$ 3,811$

Saskatchewan Energy 5,802 4,752

Saskatchewan Power 12,906 13,228

Saskatchewan Government Insurance 2,034 1,653

Saskatchewan Workers Compensation 2,150 1,938

Horizon School Division 18,447 19,296

Lloydminster School Division - 1,200

Northeast School Division 500 2,000

45,839$ 47,877$

Accounts Receivable:

Ministry of Education 10,713$ -$

10,713$ -$ In addition, the school division pays Provincial Sales Tax to the Saskatchewan Ministry of Finance on all its taxable purchases and customer sales on items that are deemed taxable. Taxes paid are recorded as part of the cost of those purchases.

Other transactions with related parties and amounts due to/from them are described separately in the financial statements or notes thereto.



Page 19

10. CONTRACTUAL OBLIGATIONS AND COMMITMENTS

The school division rents a building from the Village of Englefeld with monthly payments of $1,500. This Lease Agreement with these terms expired on August 31, 2014. Monthly payments have increased to $2,000 under a new Lease Agreement with the Village of Englefeld, which expires on August 31, 2015. It is anticipated that the rental payments to the Village of Englefeld in relation to the building for the next five years are broken down as follows:

2015 24,000 2016 24,000 2017 24,000

2018 24,000 2019 24,000

11. ACCOUNTING CHANGES

PS 3260 Liability for Contaminated Sites On September 1, 2013, the school division adopted the new PS3260 Liability for Contaminated Sites standard. This section establishes standards on how to account for and report a liability associated with the remediation of contaminated sites. Contaminated sites are a result of contamination being introduced into air, soil, water or sediment of a chemical, organic or radioactive material or live organism that exceeds the maximum acceptable concentrations under an environmental standard. A liability for remediation of contaminated sites is recognized when all of the following criteria are met:

An environmental standard exists;

Contamination exceeds the environmental standard;

The school division: Directly responsible; or Accepts responsibility

The school division expects that future economic benefits will be given up; and

A reasonable estimate of the amount can be made.

The adoption of the new PS3260 standard has not resulted in any changes to the measurement and recognition of liabilities in the school division’s 2014 financial statements.

12. COMPARATIVE INFORMATION Certain comparative figures have been reclassified to conform to the current year’s presentation.

13. RISK MANAGEMENT

The school division is exposed to financial risks from its financial assets and liabilities. These risks include credit risk, liquidity risk and market risk (consisting of interest rate risk). i) Credit Risk

Credit risk is the risk to the school division from potential non-payment of accounts receivable. The credit risk related to the school division's receivables from the provincial government, federal government and their agencies are considered to be minimal. The school division does not have a significant exposure to any individual customer. Management reviews accounts receivable on a case by case basis to determine if a valuation allowance is necessary to reflect an impairment in collectability.



Page 20

13. RISK MANAGEMENT - continued

ii) Liquidity Risk Liquidity risk is the risk that the school division will not be able to meet its financial obligations as they come due. The school division manages liquidity risk by maintaining adequate cash balances and monitoring expenditures and comparing to budget. The following table sets out the contractual maturities of the school division’s financial liabilities:

Within

6 months

6 months

to 1 year1 to 5 years > 5 years

Accounts payable and accrued liabilities 14,662 - - -

Total 14,662$ -$ -$ -$

August 31, 2014

iii) Market Risk The school division is exposed to market risks with respect to interest rates as follows: Interest Rate Risk: Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Since the Englefeld School Division holds no debt, this risk is minimal.


Appendix B: School List

Englefeld School in Englefeld, Saskatchewan.

Appendix C: Payee List – 2013-2014

Englefeld Protestant Separate School Division Payee Disclosure List for the Fiscal Year September 1, 2013 to August 31, 2014

As part of government`s commitment to accountability and transparency, the Ministry of Education and Saskatchewan school divisions disclose payments that total $50,000 or greater made to individuals, businesses and other organizations during the fiscal year. These payments include salaries, contracts, transfers, purchases of goods and services, and other expenditures.

Board of Education Remuneration

Personal Services Listed are individuals who received payments for salaries, wages, honourariums, etc which total $50,000.00 or more


Other Expenditures

45

Documents

Englefeld Protestant Separate School Division # 132 Annual ......Speech and language pathologist Student counsellors Pr ogramming highlights for 2013 -2014 include d : EAL – In recent