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Assurance » Financial Information and Capital Plan

Financial Information and Capital Plan

Budget

We prepare a budget and submit it to Alberta Education each spring for the upcoming school year.  In the fall, we submit an updated budget that reflects September 30 enrolment counts.
 
At the June 14, 2021  Board Meeting, Trustees formally approved the 2021-2022 Budget.

This budget is based on the Government of Alberta's new funding model, which uses a weighted moving average.  The change means school divisions now receive provincial funding based on their average student enrolment over three years, instead of based on an annual student enrolment number.  
 
Audited Financial Statements

The Audited Financial Statements (AFS) are prepared in accordance to Canadian public sector accounting standards and Ministerial requirements for Alberta school jurisdictions. The AFS include details of the Division's revenues, expenses, assets, liabilities, reserves, and remuneration of officials. The AFS are reviewed and approved by the Board of Trustees and submitted to Alberta Education each fall by November 30th.

Capital Planning

All new school facilities are funded from the Province of Alberta with consultation between Alberta Education and the Department of Infrastructure. Each year, school jurisdictions submit facility needs for the next three years and await funding and approval from the province. Quality learning environments and programs are essential for the success of students. Working with funding provided by the Government of Alberta, the Division plans and prioritizes its capital needs carefully to meet the needs of students today and in the future.