school district no. 71 (comox valley) · pdf fileamendedannualbudget...

Amended Annual Budget

School District No. 71 (Comox Valley)

June 30, 2017

Version: 5306-4560-2578January 19, 2017 15:56

School District No. 71 (ComoxValley)June 30, 2017

Table of Contents

Bylaw ................................................................................................................................................................

.,................. 1

AmendedAnnual Budget - Revenue and Expense - Statement2 ........................................................................................

.. 2

AmendedAnnual Budget — Changes in Net Financial Assets (Debt) - Statement 4 ............................................................

.. 4

AmendedAnnual Budget - Scheduleof Changes in Accumulated Surplus (De?cit) by Fund — Schedule 1 .........................I-

5

Amended Annual Budget - Operating Revenueand Expense — Schedule2 ......................................................................... 6

Schedule 2A — AmendedAnnual Budget - Schedule of Operating Revenue by Source ............................................... 7

Schedule 2B - AmendedAnnual Budget - Schedule of Operating Expense by Source ............................................... 8

Schedule 2C - AmendedAnnual Budget - Operating Expense by Function,Program and Object .............................. 9

AmendedAnnual Budget - Special Purpose Revenue and Expense - Schedule3 ................................................................

.. ll

Schedule 3A - AmendedAnnual Budget — Changes in Special Purpose Funds ........................................................... 12

AmendedAnnual Budget — Capital Revenue and Expense — Schedule 4 ....................................................; .......................... 14

*NOTE - Statement 1, Statement 3, Statement 5 and Schedules 4A - 4D are used for Financial Statement reporting only.

January 19, 2017 15:56

AMENDEDANNUALBUDGETBYLAW

ABylawofTHEBOARDOF EDUCATIONOFSCHOOLDISTRICTNO.71(COMOXVALLEY)(calledthe "Board")to adopttheAmendedAnnualBudgetoftheBoardforthefiscalyear2016/2017pursuanttosection113ofthe SchoolAct, R.S.B.C.,1996,c. 412as amendedfromtimeto time(calledthe "Act").

1. Boardhas compliedwiththeprovisionsoftheActrespectingtheAmendedAnnualBudgetadoptedbythisbylaw.

2. Thisbylawmaybe citedas SchoolDistrictNo.71(ComoxValley)AmendedAnnualBudgetBylawforfiscalyear2016/2017.

3. TheattachedStatement2 showingtheestimatedrevenueandexpenseforthe2016/2017fiscalyearandthetotalbudgetbylawamountof$86,367,000forthe 2016/2017?scalyearwas preparedinaccordancewiththeAct.

4. Statement2,4 andSchedules1to4 are adoptedas theAmendedAnnualBudgetofthe Boardforthefiscalyear2016/2017.

READAFIRSTTIMETHE24thDAYOFJANUARY,2017;I

READASECONDTIMETHE24thDAYOFJANUARY,2017;

READATHIRDTIME,PASSEDANDADOPTEDTHE24thDAYOFJANUARY,2017;I

hI

personI

theBoard

( CorporateSeal )

Secretary Treasurer

IHEREBYCERTIFYthisto be a trueoriginalofSchoolDistrictNo.71 (ComoxValley)AmendedAnnualBudgetBylaw2016/2017,adoptedbythe Boardthe 24thDAYOFJANUARY,2017.

Secretary Treasurer

Version: 5306-4560-2578January 19, 2017 15:56

School District No. 71 (Comox Valley) S‘a‘°“‘°“”

Amended Annual Budget - Revenue and ExpenseYear Ended June 30, 2017

2017 Amended 2017Annual Budget AnnualBudget

Ministry Operating Grant Funded FTE's -

School-Age 8,046.938 7,243.000Adult 41.750 7.500Total Ministry Operating Grant Funded FTE's 8,088.688 7,250.500

Revenues $ $ProvincialGrants

Ministry of Education 76,122,800 71,893,505Tuition 2,437,500 3,797,500Other Revenue 2,754,538 2,804,538Rentals and Leases 203,220 201,508Investment Income 117,000 87,000Amortizationof Deferred Capital Revenue 3,336,465 3,358,590Total Revenue 84,971,523 82,142,641

ExpensesInstruction 68,207,419 65,344,684District Administration 2,415,685 2,383,413Operations and Maintenance 13,506,914 13,597,052Transportation and Housing 1,825,699 1,800,736Debt Services 20,400Total Expense .

4

85,976,117 83,125,885

Net Revenue (Expense) ' (1,004,594) (983,244)

Budgeted Allocation (Retirement) of Surplus (De?cit) 115,264

Budgeted Surplus (De?cit), for the year (889,330) (983,244)

Budgeted Surplus (De?cit), for the year comprised of:Operating Fund Surplus (De?cit)Special Purpose Fund Surplus (De?cit)Capital Fund Surplus (De?cit) (889,330) (983,244)Budgeted Surplus (De?cit), for the year (889,330) (983,244)

Version: 5306-4560-2578January 19,2017 15:56

_

Page 2

School District No. 71 (Comox Valley) Statement 2

Amended Annual Budget -_Revenue and ExpenseYear EndedJune 30, 2017


Budget Bylaw Amount_

Operating - Total Expense -- 76,333,165 73,467,271

SpecialPmpose Funds - Total Expense 5,187,157 5,166,780Capital Fund — Total Expense 4,455,795 4,491,834CapitalFund - Tangible Capital Assets Purchased from Local Capital 390,883 390,883Total Budget Bylaw Amount

‘86,367,000 83,516,768

__._?

SignatuvfemoiftheTSecretaryT1:ea0sur_e.rW'*0

it

Date Signed

Version: 5306-4560-2578January 19, 2017 15:56

'

Page 3

School District No. 71 (Comox Valley) S‘“‘°“‘e“‘4

Amended Annual Budget - Changes in Net Financial Assets (Debt)Year Ended June 30, 2017


$ $

Surplus (De?cit) for the year (1,004,594) (983,244)

Effect of change in Tangible Capital AssetsAcquisitionof Tangible Capital Assets

From Local Capital (390,883) (390,883)From Deferred Capital Revenue (11,962,154) (1,327,043)Total Acquisition of Tangible Capital Assets (12,353,037) (1,717,926)

Amortizationof Tangible Capital Assets 4,435,395 4,491,834TotalEffect of change in Tangible Capital Assets (7,917,642) 2,773,908

(Increase) Decrease in Net Financial Assets (Debt) (8,922,236) 1,790,664

Version: 5306-4560-2578January 19, 2017 15:56 Page 4

School District No. 71 (Comox Valley) S°h°d“'° 1

Amended Annual Budget — Schedule of Changes in Accumulated Sulplus (De?cit) by FundYear Ended June 30, 2017

Operating Special Purpose Capital 2017 AmendedFund Fund Fund Annual Budget

$ $ $ $

Accumulated Surplus (De?cit), beginning of year 585,582 - 29,667,204 30,252,786

Changes for the yearNet Revenue (Expense) for the year 114,736 (1,119,330) (1,004,594)InterfundTransfers

Local Capital (230,000) 230,000 -

Net Changes for the year_

(115,264) - (889,330) ' (1,004,594)

Budgeted Accumulated Surplus (De?cit), end of year 470,318 - 28,777,874 29,248,192


School District No. 71 (Comox Valley) S°h°d“'° 2

Amended Annual Budget - Operating Revenue and ExpenseYear Ended June 30, 2017

2017 Amended 2017Armual Budget Annual Budget

$3

$Revenues

ProvincialGrantsMinistry of Education . 73,165,643 69,006,725

Tuition 2,437,500 3,797,500Other Revenue

_

524,538 524,538Rentals and Leases 203,220 201,508Investment Income 117,000 87,000Total Revenue ' 76,447,901 73,617,271

ExpensesInstruction 63,400,519 60,558,161District Administration 2,415,685 2,383,413Operations and Maintenance 8,691,262 8,724,961Transportation and Housing 1,825,699 1,800,736Total Expense 76,333,165 73,467,271

Net Revenue (Expense) 114,736 150,000

Budgeted Prior Year Surplus Appropriation , 115,264

Net Transfers (to) from other fundsLocal Capital (230,000) (150,000)Total Net Transfers (230,000) (150,000)

Budgeted Surplus (De?cit), for the year - —

Version: 5306-4560-2578January 19,2017 15:56 Page 6

School District No. 71 (Comox Valley) S°h°d“‘° 2A

Amended Annual Budget — Schedule of Operating Revenue by SourceYear Ended June 30, 2017


$ $Provincial Grants - Ministry of Education

Operating Grant, Ministryof Education 71,997,368 68,693,766INAC/LEA Recovery (174,538) (174,538)Other Ministry of EducationGrants

Pay Equity - 451,831 451,831Transportation Supplemental

_421,375

EconomicStability Dividend’

29,000Return of AdministrativeSavings 354,941Other Ministry of EducationGrants - 35,666 35,666Carbon Tax Grant 50,000

Total Provincial Grants — Ministry of Education 73,165,643 69,006,725

TuitionInternational and Out of Province Students

2

2,437,500 3,797,500Total Tuition 2,437,500 3,797,500

Other RevenuesLEA/Direct Funding from First Nations 174,538 174,538Miscellaneous

InstructionalCafeteria 120,000 120,000Other Miscellaneous 230,000 230,000

Total Other Revenue 1 524,538 524,_538

Rentals and Leases 203,220 201,508

Investment Income 117,000 87,000

Total Operating Revenue 76,447,901 73,617,271


School District No. 71 (Comox Valley)Amended Annual Budget — Schedule of Operating Expense by SourceYear Ended June 30, 2017

SalariesTeachers

_

Principals and Vice PrincipalsEducationalAssistantsSupport StaffOther ProfessionalsSubstitutesTotal Salaries

Employee Bene?ts

Total Salaries and Bene?ts

Services and SuppliesServicesStudent TransportationProfessional Development and TravelDues and FeesInsuranceSuppliesUtilitiesTotal Services and Supplies

Total Operating Expense

Version: 5306-4560-2578January 19, 2017 15:56

2017 AmendedArmual Budget

$

31,803,5594,679,8735,092,3066,744,4911,916,2352,364,681

52,601,145

13,308,573

65,909,718

3,615,8131,941,587

331,66657,117

193,7902,728,8961,554,578

10,423,447

76,333,165

Schedule 2B

2017AnnualBudget

$

30,138,2244,008,0225,085,3396,926,8601,890,1461,629,020

49,677,611

12,778,516

62,456,127

3,315,6971,898,915

296,50057,117

193,7903,694,5471,554,578

11,011,144

73,467,271

Page 8

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School District No. 71 (Comox Valley) S°"e““'° 3

Amended Annual Budget — Special Purpose Revenue and ExpenseYear Ended June 30, 2017


$ $Revenues

ProvincialGrantsMinistry of Education 2,957,157 2,886,780

Other Revenue 2,230,000 2,280,000Total Revenue 5,187,157 5,166,780

ExpensesInstruction 4,806,900 4,786,523Operations andMaintenance 380,257 380,257Total Expense

.5,187,157 - 5,166,780

Budgeted Surplus (De?cit), for the year '

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School District N0. 71 (Comox Valley) S°“°d“1" 4

Amended Annual Budget - Capital Revenue and ExpenseYear Ended June 30, 2017

2017 Amended Annual Budget

Invested in Tangible Local Fund 2017Capital Assets '

Capital Balance AnnualBudget 6

$ $ $ $Revenues

Amortizationof Deferred Capital Revenue 3,336,465 3,336,465 3,358,590Total Revenue 3,336,465 — 3,336,465 3,358,590

ExpensesAmortizationof Tangible Capital Assets

Operations and Maintenance 4,435,395 4,435,395 4,491,834Debt Services

Capital Lease Interest 20,400 20,400Total Expense ’ 4,435,395 20,400 4,455,795 4,491,834

Net Revenue (Expense) (1,098,930) (20,400) (1,119,330) (1,133,244)

Net Transfers (to) from other fundsLocal Capital

_

230,000 230,000 150,000Total Net Transfers - 230,000 230,000 150,000

Other Adjustments toFund BalancesTangible Capital Assets Purchased fro1nLocal Capital . 390,883 (390,883) -

Principal PaymentCapital Lease 202,024 (202,024) -

Total OtherAdjustments to Fund Balances 592,907 (592,907) —

A

Budgeted Surplus (De?cit), for the year (506,023) (383,307) (889,330) (983,244)

Version: 5306-4560-2578January 19,2017 15:56 Page 14

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