audited financial statements for the year ended … · school jurisdiction code: 2115 budget actual...

School Jurisdiction Code: 2115

AUDITEDFINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2012[School Act, Sections 147(2)(a), 148, 151(1) and 276]

Legal Name of School Jurisdiction

Mailing Address

Telephone and Fax Numbers

SCHOOL JURISDICTION MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING

The financial statements of

Board of Trustees Responsibility

External Auditors

Declaration of Management and Board Chairman

"ORIGINAL SIGNED"Name Signature



Board-approved Release Date

c.c. ALBERTA EDUCATION, Financial Reporting & Accountability Branch8th Floor Commerce Place, 10155-102 Street, Edmonton AB T5J 4L5EMAIL: [email protected]: (780) 427-3855 (Toll free 310-0000) FAX: (780) 422-6996

Wetaskiwin Regional Division No.11

5515-47A Avenue, Wetaskiwin, Alberta T9A 3S3

Telephone: 780-352-6018 Fax: 780-352-7886

27-Nov-12

SECRETARY TREASURER OR TREASURER

SUPERINTENDENT

To the best of our knowledge and belief, these financial statements reflect, in all material respects, the financial positionand results of operations and cash flows for the year in accordance with generally accepted accounting principles and

Ms. Sherri Senger


Ms. Deanna Specht

Dr. Terry Pearson

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.

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 accordance

BOARD CHAIR

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

follow the financial reporting requirements prescribed by Alberta Education.

with generally accepted accounting principles and follow format prescribed by Alberta Education.

In fulfilling its reporting responsibilities, management has maintained internal control systems and procedures designed


TABLE OF CONTENTS

Page

INDEPENDENT AUDITOR'S REPORT 3

STATEMENT OF FINANCIAL POSITION 4

STATEMENT OF REVENUES AND EXPENSES 5

STATEMENT OF CASH FLOWS 6

STATEMENT OF CHANGES IN NET ASSETS 7

STATEMENT OF CAPITAL ALLOCATIONS 8

NOTES TO THE FINANCIAL STATEMENTS 9

page 2

. '

JDP WASSERMAN & c

AS SOCIA TES ~ Certified Management Accountant

Independent Auditors' Report

To the Board of Trustees of Wetaskiwin Regional Division No. 11

5010 51 st Street Wetaskiwin, AB T9A IL3 Telephone: 780 352-8982 Fax: 780 352-5285 E-mail: [email protected]

4825 - 481h Street Camrose, AB T4V IL4 Telephone: 780 608-4849 Fax: 780 672-0349 E-mail: [email protected]

We have audited the accompanying financial statements of Wetaskiwin Regional Division No. 11, which comprise the statement of financial position as at August 31, 2012, and the statements of revenues and expenses, cash flows, changes in net assets and capital allocations for the year then ended, and a summary of significant accounting policies and other explanatory notes.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian accounting standards for not-for-profit organizations, 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 auditor's 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 evaluating 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 Wetaskiwin Regional Division No. 11 as at August 31, 2012, and the results of its operations, cash flows, and changes in net assets and capital allocations for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations.

Wetaskiwin, Alberta CERTIFIED MANAGEMENT ACCOUNTANTS

November 15, 2012


STATEMENT OF FINANCIAL POSITIONas at August 31, 2012

(in dollars)

2012 2011

RestatedASSETSCurrent assets

Cash and temporary investments (Note 3) $9,357,916 $14,634,184Accounts receivable (net after allowances) (Note 4) $2,885,564 $492,387Prepaid expenses (Note 2) $322,253 $97,808Other current assets (Note 2) $273,224 $267,308

Total current assets $12,838,958 $15,491,687Trust assets (Note 5) $265,876 $213,207Long term accounts receivable $0 $0Long term investments $10 $10Capital assets (Note 6)

Land $242,290 $242,290Construction in progress $9,186,608 $2,818,835Buildings $59,875,347

Less: accumulated amortization ($31,789,575) $28,085,772 $28,101,360Equipment $4,060,909

Less: accumulated amortization ($1,790,115) $2,270,794 $1,766,631Vehicles $598,331

Less: accumulated amortization ($337,195) $261,135 $317,347Total capital assets $40,046,599 $33,246,463

TOTAL ASSETS $53,151,443 $48,951,367

LIABILITIESCurrent liabilities

Bank indebtedness (Note 7) $0 $0Accounts payable and accrued liabilities (Note 8) $2,691,201 $972,269Deferred revenue (Note 9) $4,290,674 $3,953,203Deferred capital allocations (Note 10) ($0) $4,874,092Current portion of long term debt $642,520 $403,981

Total current liabilities $7,624,395 $10,203,545Total current liabilities $ ,6 ,395 $ 0, 03,5 5Trust liabilities (Note 5) $265,876 $213,207Employee future benefit liabilities (Note 15) $0 $0Long term debt (Note 12)

Supported: Debentures and other supported debt $1,662,996 $2,059,277Less: Current portion ($391,937) ($396,281)

Unsupported: Debentures and capital loans $4,300 $12,000Capital leases $246,283 $0Mortgages $0 $0Less: Current portion ($250,583) ($7,700)

Other long term liabilities $106,371 $101,751Unamortized capital allocations (Note 11) $32,984,515 $26,683,099

Total long term liabilities $34,627,821 $28,665,353TOTAL LIABILITIES $42,252,216 $38,868,898

NET ASSETSUnrestricted net assets ($0) $69,505Operating reserves $4,785,981 $4,707,308

Accumulated operating surplus (deficit) $4,785,981 $4,776,813Investment in capital assets $5,148,505 $4,395,080Capital reserves $964,741 $910,576

Total capital funds $6,113,246 $5,305,656Total net assets $10,899,227 $10,082,469

TOTAL LIABILITIES AND NET ASSETS $53,151,443 $48,951,367

Note: Please input "(Restated)" in 2011 column heading where comparatives are not taken from the finalized 2010/2011 Audited Financial Statements filed with Alberta Education.

page 4


Budget ActualActual 2012 20112012 Restated

REVENUESGovernment of Alberta (Note 21) $44,968,655 $44,079,136 $44,250,346

Federal Government and/or First Nations $3,862,452 $4,022,518 $4,204,221

Other Alberta school authorities $13,532 $69,038 $12,821

Out of province authorities $0 $0 $0

Alberta Municipalities-special tax levies $0 $0 $0

Fees (Note 13) $932,344 $713,758 $752,455

Other sales and services $786,472 $750,000 $1,085,252

Investment income $136,483 $75,000 $110,517

Gifts and donations $24,331 $35,000 $57,252

Fundraising $211,757 $200,000 $248,753

Rental of facilities $24,949 $25,000 $25,855

Gains on disposal of capital assets $0 $0 $2,500

Amortization of capital allocations $1,540,039 $1,550,000 $1,515,655Other revenue $0 $0 $5,061

Total Revenues $52,501,014 $51,519,450 $52,270,688

Certificated salaries (Note 23) $23,111,157 $23,044,713 $22,893,154Certificated benefits (Note 23) $4,797,014 $4,314,821 $4,770,693Non-certificated salaries and wages (Note 23) $10,049,818 $9,872,296 $9,778,514Non-certificated benefits (Note 23) $2,748,697 $2,772,562 $2,644,697Services, contracts and supplies $8,751,264 $10,598,733 $9,133,753Capital and debt services

Amortization of capital assets

Supported $1,540,039 $1,550,000 $1,515,655

Unsupported $508,001 $126,000 $439,199

Total Amortization of capital assets $2,048,040 $1,676,000 $1,954,854

Interest on capital debt

Supported $54,916 $201,290 $221,274

Unsupported $122,131 $1,300 $1,454

Total Interest on capital debt $177,047 $202,590 $222,728

Other interest and charges $1,219 $1,000 $0

Losses on disposal of capital assets $0 $0 $0

Other expense $0 $150,000 $197,056

Total Expenses $51,684,256 $52,632,715 $51,595,449

$816,758 ($1,113,265) $675,239

Extraordinary Item $0 $0 $0

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES $816,758 ($1,113,265) $675,239

Please input "(Restated)" where Actual 2011 comparatives are not as presented in the finalized 2010/2011 Audited Financial Statements filed withAlberta Education. Budget 2012 comparatives presented are final budget amounts formally approved by the Board.

STATEMENT OF REVENUES AND EXPENSESfor the Year Ended August 31, 2012

(in dollars)

Note:

EXPENSES

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES BEFORE EXTRAORDINARY ITEM

page 5

2115

for the Year Ended August 31, 2012

(in dollars)

2012 2011

Restated

CASH FLOWS FROM:

A. OPERATIONSExcess (deficiency) of revenues over expenses $816,758 $675,239Add (Deduct) items not affecting cash:

Amortization of capital allocations revenue ($1,540,039) ($1,515,655)Total amortization expense $2,048,040 $1,954,854Gains on disposal of capital assets $0 ($2,500)Losses on disposal of capital assets $0 $0

Changes in:Accounts receivable ($2,393,177) $167,900Prepaids and other current assets ($230,361) ($113,225)Long term accounts receivable $0 $0Long term investments $0 $0Accounts payable and accrued liabilities $1,723,552 ($949,681)Deferred revenue $337,471 $1,079,332Employee future benefit liabilitiies $0 ($13,100)

Other (describe) $0 ($27,500)Total cash flows from Operations $762,244 $1,255,664

B. INVESTING ACTIVITIES Purchases of capital assets

Land $0 $0Buildings ($7,844,828) ($1,843,452)Equipment ($1,003,348) ($677,808)Vehicles $0 ($45,733)

Net proceeds from disposal of capital assets $0 $2,500Other (describe) $0 ($97,005)

Total cash flows from Investing activities ($8,848,177) ($2,661,498)

C. FINANCING ACTIVITIESCapital allocations $2,571,082 $177,162Issue of long term debt $246,283 $0Repayment of long term debt ($403,980) ($609,776)

Add back: supported portion $396,281 $602,076Other (describe) $0 $0

Total cash flows from financing activities $2,809,665 $169,462

Net cash flows from during the year ($5,276,268) ($1,236,372)Cash and temporary investments, net of bank indebtedness, at Aug. 31/11 $14,634,184 $15,870,556Cash and temporary investments, net of bank indebtedness, at Aug. 31/12 $9,357,916 $14,634,184

Note: Please input "(Restated)" where Actual 2011 comparatives are not as presented in the finalized 2010/2011 Audited Financial Statements filed with Alberta Education.

School Jurisdiction Code:

STATEMENT OF CASH FLOWS

Prior period adjustement - Scholarships

Unsupported corrected to supported assets

page 6

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page

7


STATEMENT OF CAPITAL ALLOCATIONS(EXTERNALLY RESTRICTED CAPITAL CONTRIBUTIONS ONLY)

for the Year Ended August 31, 2012(in dollars)

Deferred UnamortizedCapital Capital

Allocations Allocations

Balance at August 31, 2011 $4,874,092 $26,683,099

Prior period adjustments $0 $0

Adjusted balance, August 31, 2011 $4,874,092 $26,683,099

Add:

Restricted capital allocations from: Alberta Education school building and modular projects $2,402,664

Other Government of Alberta $97,005

Federal Government and First Nations $0

Other sources $39,942

Interest earned on provincial government capital allocations $31,471

Other capital grants and donations $0

Net proceeds on disposal of supported capital assets $0

Insurance proceeds (and related interest) $0

Donated capital assets (amortizable @ fair market value) $0Donated capital assets (amortizable, @ fair market value) $0

P3, other ASAP and Alberta Infrastructure managed projects $0

Transferred in capital assets (amortizable, @ net book value) $0

Current year supported debenture principal repayment $396,281

Expended capital allocations - current year ($7,445,174) $7,445,174

Deduct:

Net book value of supported capital assets dispositions, write-offs, or transfer; Other $0 $0

Capital allocations amortized to revenue $1,540,039

Balance at August 31, 2012 ($0) $32,984,515

* Infrastructure Maintenance Renewal (IMR) Program allocations are excluded from this Statement, since those allocations are not externally restricted to capital.

page 8

Wetaskiwin Regional Division No. 11 Notes to the Financial Statements

August 31, 2012

1. Authority and purpose

The School Jurisdiction delivers education programs under the authority of the School Act, Revised Statutes of Alberta 2000, Chapter S-3.

The jurisdiction receives instruction and support allocations under Education Grants

Regulation (AR 120/2008). The regulation allows for the setting of conditions and use of

grant monies. The School Jurisdiction is limited on certain funding allocations and

administration expenses.

2. Summary of significant accounting policies

These financial statements have been prepared in accordance with Canadian generally accepted accounting principles (GAAP). The precise determination of many assets and liabilities is dependent on future events. As a result, the preparation of financial statements for a period involves the use of estimates and approximations, which have been made using careful judgment. Actual results could differ from those estimates and approximations. The financial statements have, in management’s opinion, been properly prepared within reasonable limits of materiality and within the framework of the accounting policies summarized below:

Revenue recognition

The Wetaskiwin Regional Division #11 (the “Regional Division”) follows the deferral method of accounting for contributions.

Revenue is recognized as follows:

Instruction and support allocations are recognized in the year to which they relate.

Fees for services related to courses and programs are recognized as revenue when such courses and programs are delivered.

Unrestricted contributions are recognized as revenue when received or receivable. Contributions in-kind are recorded at fair market value when reasonably determinable.

Externally restricted contributions are deferred and recognized as revenue in the period in which the restriction is complied with.

Restricted investment income is recognized as revenue in the year in which the related

expenses are incurred. Unrestricted investment income is recognized as revenue when

earned.

Prepaid expenses

Certain expenditures incurred before the close of the school year are for school supplies and equipment which will be consumed subsequent to the year-end, and are accordingly recorded as prepaid expenses. Certain insurance expenses also fall into this category.


August 31, 2012

2. Summary of significant accounting policies (continued)

Inventories

Inventories are recorded at the lower of cost or net realizable value.

Capital assets

Capital assets are recorded at cost. Contributed capital assets are recorded at fair market

value at the date of the contribution. Amortization is provided on a straight line basis over

the assets’ estimated useful lives at the following rates:

Buildings 2.5% to 10%

Computer Hardware & Software 20%

Other Equipment & Furnishings 10% and 20%

Vehicles 10% and 20%

Capital assets with costs in excess of $5,000 are capitalized. Capital allocations received

for asset additions are amortized into revenue over the same period as the amortization

expense.

Vacation pay

Vacation pay is accrued in the period in which the employee earns the benefit. Pensions

Pension costs included in these statements comprise the cost of employer contributions for

current service of employees during the year.

The current service and past service costs of the Alberta Teacher Retirement Fund are

met by contributions by active members and the Government of Alberta. Under the terms

of the Teachers Pension Plan Act, the Wetaskiwin Regional Division No. 11 does not make

pension contributions for certificated staff. The Government portion of the current service

contribution to the Alberta Teacher Retirement Fund on behalf of the jurisdiction is included

in both revenues and expenses. For the school year ended August 31, 2012, the amount

contributed by the Government was $2,230,051 (2011-$2,201,805)

The Regional Division participates in the multi-employer pension plan, Local Authorities

Pension Plan, and does not report on any unfunded liabilities. The expense for this

pension plan is equivalent to the annual contributions of $910,483 for the year ended

August 31, 2012 (2011 - $854,891). At December 31, 2011 the Local Authorities Pension

Plan reported a deficiency of $4,639,390,000 (2010 deficiency of $4,635,250,000).

Operating and capital reserves

Reserves are established at the discretion of the Board of Trustees of the Regional Division, to set aside funds for operating and capital purposes. Such reserves are appropriations of unrestricted net assets.


August 31, 2012

2. Summary of significant accounting policies (continued)

Financial instruments

The Regional Division’s financial instruments consist of cash and temporary investments, accounts receivable, accounts payable, accrued liabilities and long-term debt. It is management’s opinion that the jurisdiction is not exposed to significant interest, currency or credit risks arising from these financial instruments. Unless otherwise noted, the fair values of these financial instruments approximate their carrying value. The Regional Division has invested surplus funds in accordance with Section 60 (2) (d) of the School Act.

Contributed services

Volunteers contribute a considerable number of hours per year to schools to ensure that

certain programs are delivered, such as kindergarten, lunch services, and the raising of

school generated funds. Because of the difficulty of compiling these hours and the fact that

these services are not otherwise purchased, contributed services are not recognized in the

financial statements.

Future Accounting Policies

The Regional Division will adopt public sector accounting standards for the year ending

August 31, 2013 with retrospective application and restatement of the prior school year.

The transition is intended to enhance the public accountability and comparability of the

financial reporting of the government controlled entities with those of other government

organizations.

3. Cash and Temporary Investments

2012 2011

Restated Average

Effective

(Market)

Yield Cost

Fair

Value

Average

Effective

(Market)

Yield Cost

Fair

Value

Cash and cash equivalents $9,357,916 $9,357,916 - $11,731,189 $11,731,189

Fixed-income securities:

Government of Canada,

direct and gauranteed - - 1.25% 3,000,000 3,000,000

Total cash and temporary

investments $9,357,916 $9,357,916 1.25% $14,731,189 $14,731,189

4. Accounts receivable 2012 2011

Restated

Alberta Education $ 2,417,220 $ 17,531

Alberta Finance 100,791 125,674

Federal Government 184,016 105,803

Other Alberta School Jurisdictions 13,532 15,644

Other 170,005 227,735

$ 2,885,564 $ 492,387


August 31, 2012

5. Trust assets and liabilities 2012 2011

Restated

Scholarship trusts $ 172,940 $ 152,253

School Generated Fund trusts 6,023 7,534

Community Learning Council 86,913 53,420

$ 265,876 $ 213,207

These balances represent cash that is held in trust by the Regional Division.

6. Capital Assets

Land

Construction

In Progress

New Building

Buildings

Equipment-

Computer

Hardware &

Software

Other

Equipment

Vehicles

Total

Estimated Useful Life

Historical Cost

September 1, 2011 $242,290 $2,818,835 $58,309,598 $1,822,801 $1,323,454 $598,331 $65,115,309 Additions - 6,919,400 1,014,122 750,364 164,290 - 8,848,176 Transfers in (out) - (551,627) 551,627 - - - -

Less disposals including write-offs - - - - - - -

August 31, 2012 $242,290 $9,186,608 $59,875,347 $2,573,165 $1,487,744 $598,331 $73,963,485

Accumulated Amortization

September 1, 2011 $0 $0 $30,208,238 $745,065 $634,559 $280,984 $31,868,846

Amortization expense - - 1,581,337 285,649 124,842 56,211 2,048,040

Transfers in (out) - - - - - - -

Effect of disposals - - - - - - -

August 31, 2012 $0 $0 $31,789,575 $1,030,714 $759,402 $337,195 $33,916,886

Net Book Value at August 31, 2012 $242,290 $9,186,608 $28,085,772 $1,542,451 $728,343 $261,135 $40,046,599

7. Bank indebtedness

The Regional Division has negotiated a Line of Credit in the amount of $1,000,000 and a

Standby Letter of Credit for $300,000, each bear interest at the bank prime rate less

0.25%. Both are secured by a borrowing bylaw and a security agreement, covering all

revenue of the Regional Division. There was no balance outstanding on the Line of Credit

or the Standby Letter of Credit as at August 31, 2012.

8. Accounts payable and accrued liabilities 2012 2011

Restated

Alberta Finance $ 101,249 $ 126,786

Federal Government 278 27,438

Other Trade Payables and Accrued Liabilities 2,589,674 818,045

$ 2,691,201 $ 972,269


August 31, 2012

9. Deferred revenue

SOURCE AND GRANT OR FUND TYPE

DEFERRED

REVENUE

as at

Aug. 31, 2011

Restated

ADD:

2011/2012

Restricted

Funds

Received/

Receivable

DEDUCT:

2011/2012

Restricted

Funds

Expended

(Paid/Payable)

DEFERRED

REVENUE

as at

Aug. 31, 2012

Alberta Education Restricted Operational Funding:

Infrastructure Maintenance Renewal $2,888,377 $773,196 $328,281 $3,333,292

Alberta Initiative for School Improvement 136,405 410,408 448,154 98,659 CTS Bridging Grant 18,000 68,000 43,000 43,000

IEPT Grant - 20,000 9,157 10,843

Other Government of Alberta Restricted Funding:

Child and Family Services Authority 62,630 116,517 159,512 19,635

Braillest 89,474 70,000 71,885 87,589

SCHEP 6,681 48,700 37,083 18,298

Other Deferred Revenue:

Supernet lease 4,780 4,768 4,780 4,768

Bus passes 16,240 20,900 16,240 20,900

School Generated Funds 730,616 - 76,926 653,690

TOTAL $3,953,203 $1,532,489 $1,195,018 $4,290,674

10. Deferred capital allocations

Deferred capital allocations represent externally restricted supported capital funds provided for a specific capital purpose that have been received or are receivable by the Regional Division, but the related expenditure has not yet been made at year-end. When expended, these deferred capital allocations are transferred to unamortized capital allocations.

11. Unamortized capital allocations

Unamortized capital allocations represent externally restricted supported capital funds that have been expended, but have yet to be amortized over the useful life of the related capital asset. The unamortized capital allocations account balance is increased by transfers of deferred capital allocations expended, as well as fully-supported debenture principal repayments.

Wetaskiwin Regional Division No. 11

Notes to the Financial Statements August 31, 2012

12. Long-term debt 2012 2011

Restated

Debentures:

6.875% to 15.75% Alberta Capital Finance Authority

debentures maturing at various dates from 2009 to 2019.

Debenture debt is authorized by Alberta Treasury

and $1,662,996 is fully supported. Interest paid on $ 1,667,296 $ 2,071,277

long-term debt during 2011 – 2012 was $201,290.

Capital Lease: 246,283 -

1,913,579 2,071,277

Less: current portion 642,520 403,981

$ 1,271,059 $ 1,667,296

Debenture and capital loan repayments required in each of the next five years and beyond

are due as follows:

Principal Interest Total

2012 - 2013 $ 633,920 $ 162,266 $ 796,186

2013 - 2014 359,747 123,515 483,262

2014 - 2015 344,747 87,498 432,245

2015 - 2016 267,428 53,150 320,578

2016 - 2017 170,942 26,950 197,892

2017 to maturity 136,795 14,705 151,500

Total $ 1,913,579 $ 468,084 $ 2,381,663

The current portion of long-term debt includes $391,937 of amounts payable by Alberta

Finance on supported debt; therefore, the working capital (current assets minus current

liabilities) is understated by this amount.

13. Fees 2012 2011

Restated

Transportation fees* $ 28,260 $ 24,942

Fees charged for instructional material and supplies** 307,454 297,948

Other Fees 596,630 429,565

$ 932,344 $ 752,455

*Charged under School Act, Section 51 (3) **Charged under School Act, Section 60 (2) (j)


August 31, 2012

14. School Generated Funds

Unexpended School Generated Revenues,

Opening Balance August 31, 2011 (A) $730,616

Current Year Activities – Gross Receipts:

Fees 555,128

Fundraising 290,322

Gifts and donations 71,296

Grants to schools -

Other sales and services 300,308

Total gross receipts (B) 1,217,054

Current Year Activities – Total Direct Costs

Including Cost of Goods Sold to Raise

Funds (C) 1,212,844

Current Year Activities – Uses of Funds (D) 81,136

Unexpended School Generated Revenues,

Closing Balance August 31, 2012 (E)* $653,690

*E=A+B-C-D

15. SIPP

The Regional Division is a member of the Supplemental Integrated Pension Plan. The plan

provides supplementary pension plan benefits to a prescribed class of employees in

addition to Local Authorities Pension Plan or Alberta Teacher Retirement Fund.

There are nine employees who are eligible to participate in the plan, one employee is

currently participating.

The current service contributions in 2012 were $nil (2011 - $nil) and past service costs

were $nil (2011 - $nil). The accrued benefit liability at August 31, 2012 is $nil (2011 - $nil).

16. Commitments

Operating leases

The Regional Division has entered into a number of operating leases, which have financial commitments as outlined below. These leases relate to photocopiers, facility rental, garbage removal and grounds maintenance.

2012-2013 $ 401,958

2013-2014 376,667

2014-2015 301,676

2015-2016 257,180

2016-2017 60,000

Total $ 1,397,481


August 31, 2012

16. Commitments (continued)

Building Projects

The Regional Division is committed to capital expenditures for the construction of Griffiths

Scott Middle School of approximately $11,019,820. It is anticipated that these costs will be

fully funded by the capital allocations from Alberta Education.

17. Contingency

The Regional Division is a member of a reciprocal insurance exchange called ALARIE. A

portion of the premiums paid in past year’s represented equity contributions to the

insurance fund. The value of equity is subject to liability claims and is not an asset that the

Regional Division can liquidate.

18. Economic dependence on related third party

The Regional Division’s primary source of income is from the Government of Alberta. The

Regional Division’s ability to continue viable operations is dependent on this funding.

19. Budget amounts

The Regional Division management prepared the budget with Board of Trustees approval

given on May 31, 2011. It is presented for information purposes only and has not been

audited.

20. Comparative Figures

The comparative figures have been reclassified where necessary to conform to the 2012

presentation.

21. Prior Period Adjustments

Revenue from Government of Alberta and certificated benefits have been restated to

$44,250,346 (2011-$42,048,540) to reflect retroactive application of inclusion of

Government contributions to Alberta Teachers Retirement Fund in the statement of

revenues and expenses.


August 31, 2012

22. Related Party Transactions

Effective 2005/2006, school jurisdictions are controlled by the Government of Alberta

according to criteria set out in Public Sector Accounting Board Handbook Section 1300. All

entities that are consolidated in the accounts of the Government of Alberta are now related

parties of school jurisdictions. These include government departments, health authorities,

post-secondary institutions and other school jurisdictions in Alberta. The Regional Division

had related party transactions for the year ended August 31, 2012 recorded in the

Statement of Revenues and Expenses and Statement of Financial Position, at the amount

of consideration agreed upon between the related parties.

Balances Transactions

2011-2012 Assets Liabilities Revenue

Government of Alberta:

Education $ 2,402,380 $ 3,485,794 $44,396,649

Finance 100,791 1,764,246 176,407

Other departments 46,730 125,522 395,674

Other:

Alberta school jurisdictions 13,532 - 13,532

Total 2011-2012 $ 2,563,433 $ 5,375,562 $44,982,262

Total 2010-2011 $ 203,291 $10,271,889 $42,051,195


August 31, 2012

23. Remuneration and Monetary Incentives

Wetaskiwin Regional Division No. 11 has paid or accrued expenses for the year ended

August 31, 2012 to or on behalf of the following positions and persons in groups as

follows:

Board Members

FTE

Remuneration

Benefits*

Totals

Expenses

Mr. Ed Zacharko 1.0 20,560 5,381 25,941 4,905

Ms. Barb Johnson 1.0 25,007 2,896 27,903 10,786

Mrs. Donna Hogg 1.0 21,142 2,682 23,824 6,057

Mr. Clint Neis 1.0 21,572 5,504 27,076 8,477

Mr. Glen Norby 1.0 19,786 4,385 24,171 5,856

Mrs.Deanna Specht

(Chair)

1.0 29,053 5,751 34,804 9,121

Mr. Stanley Harsch 1.0 19,162 5,395 24,557 3,425

Mrs. Shauna Bruno 1.0 18,612 5,407 24,019 4,296

Subtotal 8.0 174,894 37,401 212,295 52,923

Superintendent:

Dr. Terry Pearson 1.0 187,088 32,418 219,506 19,849

Secretary/Treasurer

Ms. Sherri Senger 1.0 147,501 34,946 182,447 10,084

Certificated

Teachers

235.6 22,924,069 4,764,596 27,688,665

Non-certificated -

Other

225.3 9,727,423 2,676,350 12,403,773

TOTALS 33,160,975 7,545,711 40,706,686

*Benefits include government portion of the current service contribution to the Alberta

Teachers Pension Fund on behalf of the school jurisdiction.


UNAUDITED SCHEDULES

TO THEFINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2012[School Act, Section 276]

Legal Name of School Jurisdiction

Mailing Address

Telephone and Fax Numbers

Declaration of Secretary-Treasurer / Chief Financial Officer

reporting requirements for Alberta school jurisdictions. These schedules were submitted to the board for information


Dated

c.c. ALBERTA EDUCATION, Financial Reporting & Accountability Branch8th Floor Commerce Place, 10155-102 Street, Edmonton AB T5J 4L5EMAIL: [email protected]: (780) 427-3855 FAX: (780) 422-6996


Box 6171, Wetaskiwin, AB T9A 3S3

Telephone:780-352-6018 Fax:780-352-7886

27-Nov-12

To the best of my knowledge and belief, these unaudited schedules have been prepared following Alberta Education's

purposes.

SECRETARY TREASURER OR TREASURER

Ms. Sherri Senger


TABLE OF CONTENTS

Page

SCHEDULE A 3

SCHEDULE B 4

Allocation of Revenues and Expenses to Programs

Operations and Maintenance Program Expense Details

page 2 of 4

S

CH

EDU

LE A

Sc

hool

Jur

isdi

ctio

n C

ode:

2115

ALLO

CAT

ION

OF

REV

ENU

ES A

ND

EXP

ENSE

S TO

PR

OG

RAM

S - 2

011/

2012

Ope

ratio

ns a

ndM

aint

enan

ce o

fB

oard

&R

EVEN

UES

ECS

-Gra

de 1

2Sc

hool

s &

Syst

em

Exte

rnal

In

stru

ctio

nM

aint

enan

ce S

hops

Tran

spor

tatio

nAd

min

istr

atio

nSe

rvic

esTO

TAL

(1)

Alb

erta

Edu

catio

n$3

5,29

8,32

0$4

,349

,765

$2,8

77,4

34$1

,871

,130

$0$4

4,39

6,64

9

(2)

Oth

er -

Gov

ernm

ent o

f Alb

erta

$305

,268

$180

,702

$0$0

$86,

036

$572

,005

(3)

Fede

ral G

over

nmen

t and

Firs

t Nat

ions

$3,1

32,0

62$5

72,4

78$0

$157

,912

$0$3

,862

,452

(4)

Oth

er A

lber

ta s

choo

l aut

horit

ies

$0$0

$13,

532

$0$0

$13,

532

(5)

Out

of p

rovi

nce

auth

oriti

es$0

$0$0

$0$0

$0

(6)

Alb

erta

Mun

icip

aliti

es-s

peci

al ta

x le

vies

$0$0

$0$0

$0$0

(7)

Fees

$904

,084

$28,

260

$932

,344

(8)

Oth

er s

ales

and

ser

vice

s$7

15,6

67$4

09$0

$57,

412

$12,

984

$786

,472

(9)

Inve

stm

ent i

ncom

e$0

$0$0

$136

,483

$0$1

36,4

83

(10)

Gift

s an

d do

natio

ns$2

4,33

1$0

$0$0

$0$2

4,33

1

(11)

Fund

rais

ing

$211

,757

$0$0

$0$0

$211

,757

(12)

Ren

tal o

f fac

ilitie

s$0

$24,

949

$0$0

$0$2

4,94

9

(13)

Gai

ns o

n di

spos

al o

f cap

ital a

sset

s$0

$0$0

$0$0

$0

(14)

Am

ortiz

atio

n of

cap

ital a

lloca

tions

$98,

955

$1,4

41,0

84$0

$0$1

,540

,039

(15)

Oth

er re

venu

e$0

$0$0

$0$0

$0

(16)

TOTA

L R

EVEN

UES

$40,

690,

444

$6,5

69,3

87$2

,919

,226

$2,2

22,9

37$9

9,02

0$5

2,50

1,01

4

EXPE

NSE

S(1

7)C

ertif

icat

ed s

alar

ies

$22,

525,

648

$585

,509

$0$2

3,11

1,15

7

(18)

Cer

tific

ated

ben

efits

$4,6

89,5

34$1

07,4

80$0

$4,7

97,0

14

(19)

Non

-cer

tific

ated

sal

arie

s an

d w

ages

$6

,805

,656

$2,2

52,0

03$1

83,5

01$7

46,1

17$6

2,54

1$1

0,04

9,81

8

(20)

Non

-cer

tific

ated

ben

efits

$1,9

01,4

10$5

99,9

40$4

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5$1

96,3

62$1

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0$2

,748

,697

(21)

SUB

- TO

TAL

$35,

922,

248

$2,8

51,9

43$2

23,5

76$1

,635

,469

$73,

451

$40,

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687

(22)

Serv

ices

, con

trac

ts a

nd s

uppl

ies

$3,9

68,7

34$1

,790

,225

$2,5

63,6

01$4

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5,56

9$8

,751

,264

(23)

Am

ortiz

atio

n of

cap

ital a

sset

s$4

42,4

34$1

,567

,190

$0$3

8,41

6$0

$2,0

48,0

40(2

4)In

tere

st a

nd c

harg

es$0

$177

,047

$895

$324

$0$1

78,2

66

(25)

Loss

es o

n di

spos

al o

f cap

ital a

sset

s$0

$0$0

$0$0

$0

(26)

Oth

er e

xpen

se$0

$0$0

$0$0

$0

(27)

TOTA

L EX

PEN

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$40,

333,

416

$6,3

86,4

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,788

,071

$2,0

77,3

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0$5

1,68

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6

(28)

$357

,028

$182

,982

$131

,155

$145

,593

$0$8

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58

EXC

ESS

(DEF

ICIE

NC

Y) O

F R

EVEN

UES

O

VER

EXP

ENSE

S

page

3 o

f 4

Scho

ol J

uris

dict

ion

Cod

e:21

15

Expe

nsed

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&Am

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& O

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l & D

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$1

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$543

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$0$0

$296

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$2,2

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,252

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ertif

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enef

its$3

87,1

23$1

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$1,7

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,943

$2,8

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3,56

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10,8

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30,8

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ectr

icity

$487

,184

$487

,184

$487

,184

Nat

ural

gas

/hea

ting

fuel

$331

,785

$331

,785

$331

,785

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nd w

ater

$112

,497

$112

,497

$112

,497

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com

mun

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ions

$0$0

$0In

sura

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$126

,816

$126

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$126

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of c

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l ass

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$27,

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$27,

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$27,

151

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$27,

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$27,

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$1,9

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,298

$995

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$85,

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$613

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$28,

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$6,3

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OF

SCH

OO

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MAI

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SHO

PS P

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GR

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ETAI

LS -

2011

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2

Faci

lity

Plan

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&

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Adm

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sch

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Not

e: Cus

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All

expe

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rela

ted

to a

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ities

und

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ken

to k

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the

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and

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Mai

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: A

ll ex

pens

es a

ssoc

iate

d w

ith th

e re

pair,

repl

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ent a

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con

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bui

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gs, g

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t com

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s in

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es re

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pre

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ativ

em

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ce u

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take

n to

ens

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com

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nts

reac

h or

exc

eed

thei

r life

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le a

nd th

e re

pair

of b

roke

n co

mpo

nent

s. M

aint

enan

ce e

xpen

ses

excl

ude

oper

atio

nal c

osts

rela

ted

toex

pens

ed IM

R &

Mod

ular

Uni

t rel

ocat

ions

, as

they

are

repo

rted

on s

epar

atel

y.U

tiliti

es &

Tel

ecom

mun

icat

ions

: A

ll ex

pens

es re

late

d to

ele

ctric

ity, n

atur

al g

as a

nd o

ther

hea

ting

fuel

s, s

ewer

and

wat

er a

nd a

ll fo

rms

of te

leco

mm

unic

atio

ns.

Expe

nsed

IMR

& M

odul

ar U

nit R

eloc

atio

ns:

All

oper

atio

nal e

xpen

ses

asso

ciat

ed w

ith n

on-c

apita

lized

Infra

stru

ctur

e M

aint

enan

ce R

enew

al p

roje

cts

(AK

A IM

P a

nd B

QR

P) a

nd m

odul

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nit (

porta

ble)

relo

catio

ns.

Faci

lity

Plan

ning

& O

pera

tions

Adm

inis

trat

ion:

A

ll ex

pens

es re

late

d to

the

adm

inis

tratio

n of

ope

ratio

ns a

nd m

aint

enan

ce in

clud

ing

(but

not

lim

ited

to) c

ontra

ct a

dmin

istra

tion,

cle

rical

func

tions

, neg

otia

tions

, sup

ervi

sion

of e

mpl

oyee

s&

con

tract

ors,

sch

ool f

acilit

y pl

anni

ng &

pro

ject

'adm

inis

tratio

n', a

dmin

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tion

of jo

int-u

se a

gree

men

ts, a

nd a

ll ex

pens

es re

late

d to

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audited financial statements for the year ended … · school jurisdiction code: 2115 budget actual...

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