AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED … · School Jurisdiction Code: 2115 AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED AUGUST 31, 2011 [School Act, Sections 147(2)(a),

School Jurisdiction Code: 2115

AUDITEDFINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2011[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) 644-5672 (Toll free 310-0000)

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

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

WETASKIWIN REGIONAL DIVISION NO. 11

515-47A AVENUE, WETASKIWIN, AB T9A 3S3

(PH) 780-352-6018 (FAX) 780-352-7886


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.

29-Nov-11

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

BOARD CHAIR


TABLE OF CONTENTS

Page

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


STATEMENT OF FINANCIAL POSITIONas at August 31, 2011

(in dollars)

2011 2010

RestatedASSETSCurrent assets

Cash and temporary investments (Note 3) $13,981,518 $15,870,556Accounts receivable (net after allowances) (Note 4) $488,059 $660,287Prepaid expenses (Note 2) $97,807 $38,549Other current assets (Note 2) $267,308 $213,342

Total current assets $14,834,692 $16,782,734School generated assets $789,034 $856,046Trust assets (Note 5) $205,673 $240,533Long term accounts receivable $0 $0Long term investments $10 $10Capital assets (Note 6)

Land $242,290 $242,290Construction in progress $2,818,835 $1,107,642Buildings $58,309,598

Less: accumulated amortization ($30,208,239) $28,101,360 $29,561,316Equipment $3,146,255

Less: accumulated amortization ($1,379,623) $1,766,631 $1,393,434Vehicles $598,331

Less: accumulated amortization ($280,984) $317,347 $329,642Total capital assets $33,246,463 $32,634,324

TOTAL ASSETS $49,075,871 $50,513,647

LIABILITIESCurrent liabilities

Bank indebtedness (Note 7) $0 $0Accounts payable and accrued liabilities (Note 8) $921,385 $1,924,837Deferred revenue (Note 9) $3,222,587 $2,873,871Deferred capital allocations (Note 10) $4,874,092 $6,518,932Current portion of long term debt (Note 12) $403,980 $609,776

Total current liabilities $9,422,044 $11,927,416School generated liabilities $789,034 $856,046Trust liabilities (Note 5) $205,673 $240,533Employee future benefit liabilities (Note 13) $0 $13,100Long term debt (Note 12)

Supported: Debentures and other supported debt $2,059,277 $2,661,353Less: Current portion ($396,280) ($602,076)

Unsupported: Debentures and capital loans $12,000 $19,700Capital leases $0 $0Mortgages $0 $0Less: Current portion ($7,700) ($7,700)

Other long term liabilities $101,751 $98,864Unamortized capital allocations (Note 11) $26,683,098 $25,774,676

Total long term liabilities $29,446,853 $29,054,496TOTAL LIABILITIES $38,868,897 $40,981,912

NET ASSETSUnrestricted net assets $0 $0Operating reserves $4,804,312 $4,490,463

Accumulated operating surplus (deficit) $4,804,312 $4,490,463Investment in capital assets $4,492,086 $4,178,594Capital reserves $910,576 $862,678

Total capital funds $5,402,662 $5,041,272Total net assets $10,206,973 $9,531,735

TOTAL LIABILITIES AND NET ASSETS $49,075,871 $50,513,647

Note: Please input "(Restated)" in 2010 column heading where comparatives are not taken from the finalized 2009/2010 Audited Financial Statements filed with Alberta Education.

page 4


Budget ActualActual 2011 20102011

REVENUES

Government of Alberta $42,048,540 $42,537,477 $42,465,753

Federal Government and First Nations $4,204,221 $4,306,389 $3,977,283

Other Alberta school authorities $12,821 $20,000 $22,364

Out of province authorities $0 $0 $0

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

Instruction resource fees $302,435 $189,065 $398,405

Transportation fees $24,942 $19,000 $22,673

Other sales and services $425,315 $406,238 $323,144

Investment income $110,517 $50,000 $45,349

Gifts and donations $44,365 $0 $8,320

Rental of facilities $25,855 $29,800 $24,928

Gross school generated funds $1,339,806 $1,400,000 $1,434,442

Gains on disposal of capital assets $2,500 $0 $15,451

Amortization of capital allocations $1,515,655 $1,500,000 $1,523,242

Other revenue $5,060 $0 $0

Total Revenues $50,062,032 $50,457,969 $50,261,354

Certificated salaries (Note 20) $22,893,154 $22,990,394 $22,870,044Certificated benefits (Note 20) $2,568,888 $2,740,321 $2,556,615Non-certificated salaries and wages (Note 20) $9,778,514 $9,473,377 $9,790,662Non-certificated benefits (Note 20) $2,644,697 $2,796,247 $2,624,664

Services, contracts and supplies $7,978,976 $10,492,909 $7,950,057

Gross school generated funds $1,328,016 $1,400,000 $1,434,442

Capital and debt services

Amortization of capital assets

Supported $1,515,655 $1,500,000 $1,523,242

Unsupported $439,199 $157,860 $338,197

Total Amortization of capital assets $1,954,854 $1,657,860 $1,861,439

Interest on capital debt

Supported $220,365 $264,237 $287,571

Unsupported $1,454 $1,000 $2,268

Total Interest on capital debt $221,819 $265,237 $289,839

Other interest and charges $909 $0 $6,341

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

Other expense $16,965 $0 $0

Total Expenses $49,386,794 $51,816,345 $49,384,103

$675,238 ($1,358,376) $877,251

Extraordinary Item $0 $0 $0

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES $675,238 ($1,358,376) $877,251

Please input "(Restated)" where Actual 2010 comparatives are not as presented in the finalized 2009/2010 Audited Financial Statements filed withAlberta Education. Budget 2011 comparatives presented are final budget amounts formally approved by the Board.

STATEMENT OF REVENUES AND EXPENSESfor the Year Ended August 31, 2011

(in dollars)

Note:

EXPENSES

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES BEFORE EXTRAORDINARY ITEM

page 5

2115

for the Year Ended August 31, 2011

(in dollars)

2011 2010

CASH FLOWS FROM:

A. OPERATIONSExcess (deficiency) of revenues over expenses $675,238 $877,252Add (Deduct) items not affecting cash:

Amortization of capital allocations revenue ($1,515,655) ($1,523,242)Total amortization expense $1,954,854 $1,861,439Gains on disposal of capital assets ($2,500) ($15,451)Losses on disposal of capital assets $0 $0

Changes in:Accounts receivable $172,228 $957,856Prepaids and other current assets ($113,224) $136,611Long term accounts receivable $0 $732Long term investments $0 $0Accounts payable and accrued liabilities ($1,000,565) ($47,189)Deferred revenue $348,716 $444,012Employee future benefit liabilitiies ($13,100) ($1,000)

Other (describe) $0 $0Total cash flows from Operations $505,992 $2,691,020

B. INVESTING ACTIVITIES Purchases of capital assets

Land $0 $0Buildings ($1,843,452) ($611,452)Equipment ($677,808) ($507,695)Vehicles ($45,733) ($155,842)

Net proceeds from disposal of capital assets $2,500 $74,443Other (describe) $0 $0

Total cash flows from Investing activities ($2,564,492) ($1,200,546)

C. FINANCING ACTIVITIESCapital allocations $177,162 $4,525,566Issue of long term debt $0 $0Repayment of long term debt ($609,776) ($737,375)

Add back: supported portion $602,076 $729,676Other (describe) $0 $0

Total cash flows from financing activities $169,462 $4,517,867

Net cash flows from during the year ($1,889,038) $6,008,341Cash and temporary investments, net of bank indebtedness, at Aug. 31/10 $15,870,556 $9,862,215Cash and temporary investments, net of bank indebtedness, at Aug. 31/11 $13,981,518 $15,870,556

Note: Please input "(Restated)" where Actual 2010 comparatives are not as presented in the finalized 2009/2010 Audited Financial Statements filed with Alberta Education.

School Jurisdiction Code:

STATEMENT OF CASH FLOWS

page 6

Scho

ol J

uris

dict

ion

Cod

e:21

15

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

(11)

(12)

(13)

(14)

(15)

TOTA

LIN

VEST

MEN

TU

NR

ESTR

ICTE

D

TOTA

LTO

TAL

NET

IN C

API

TAL

NET

OPE

RA

TIN

G

CA

PITA

L

ASS

ETS

ASS

ETS

ASS

ETS

RES

ERVE

SR

ESER

VES

Col

s. 2

+3+4

+5C

ols.

6+

8+10

+12+

14C

ols.

7+

9+11

+13+

15

Bal

ance

at A

ugus

t 31,

201

0$9

,531

,735

$4,1

78,5

94$0

$3,7

88,6

95$1

,564

,446

$2,5

64,7

99$9

42,2

07$7

93,1

54$2

36,5

79$2

63,4

26$3

45,7

29$1

67,3

16$3

9,93

1$0

$0P

rior p

erio

d ad

just

men

ts

(des

crib

e)

Cor

rect

rese

rve

allo

catio

n$0

$0$0

$701

,768

($70

1,76

8)$7

01,7

68($

701,

768)

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0A

djus

ted

Bal

ance

, Aug

. 31,

20

10$9

,531

,735

$4,1

78,5

94$0

$4,4

90,4

63$8

62,6

78$3

,266

,567

$240

,439

$793

,154

$236

,579

$263

,426

$345

,729

$167

,316

$39,

931

$0$0

Exc

ess

(def

icie

ncy)

of r

even

ues

over

exp

ense

s$6

75,2

38$6

75,2

38

Boa

rd fu

nded

cap

ital a

dditi

ons

$744

,991

($74

4,99

1)$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0D

ispo

sal o

f uns

uppo

rted

capi

tal

asse

ts$0

$0$0

$0$0

$0$0

$0$0

Dis

posa

l of s

uppo

rted

capi

tal

asse

ts (b

oard

fund

ed p

ortio

n)$0

$0$0

$0$0

$0$0

$0$0

Exte

rnal

Ser

vice

s

INTE

RN

ALL

Y R

ESTR

ICTE

D N

ET A

SSET

S

Scho

ol &

Inst

ruct

ion

Rel

ated

Ope

ratio

ns &

Mai

nten

ance

Boa

rd &

Sys

tem

A

dmin

istr

atio

nTr

ansp

orta

tion

Ope

ratin

g

R

eser

ves

Cap

ital

Res

erve

s O

pera

ting

Res

erve

sC

apita

l

R

eser

ves

STA

TEM

ENT

OF

CH

AN

GES

IN N

ET A

SSET

S

(in d

olla

rs)

for t

he Y

ear E

nded

Aug

ust 3

1, 2

011

Ope

ratin

g

R

eser

ves

Cap

ital

Res

erve

sO

pera

ting

Res

erve

sC

apita

l

R

eser

ves

Ope

ratin

g

R

eser

ves

Cap

ital

Res

erve

s

page

7

Dire

ct c

redi

ts to

net

ass

ets

$0$0

$0

Am

ortiz

atio

n of

cap

ital a

sset

s($

1,95

4,85

4)$1

,954

,854

Am

ortiz

atio

n of

cap

ital a

lloca

tions

$1,5

15,6

55($

1,51

5,65

5)D

ebt p

rinci

pal r

epay

men

ts

(uns

uppo

rted)

$7,7

00($

7,70

0)N

et tr

ansf

ers

to o

pera

ting

rese

rves

($34

9,53

9)$3

49,5

39$2

77,6

65$7

1,87

4$0

$0$0

Net

tran

sfer

s fro

m o

pera

ting

rese

rves

$35,

690

($35

,690

)$0

$0($

35,6

90)

$0

Net

tran

sfer

s to

cap

ital r

eser

ves

($47

,898

)$4

7,89

8$0

$15,

749

$32,

149

$0$0

Net

tran

sfer

s fro

m c

apita

l re

serv

es

$0$0

$0$0

$0$0

$0A

ssum

ptio

n/tra

nsfe

r of o

ther

op

erat

ions

' net

ass

ets

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0$0

$0

Bal

ance

at A

ugus

t 31,

201

1$1

0,20

6,97

3$4

,492

,086

$0$4

,804

,312

$910

,576

$3,5

44,2

32$2

40,4

39$8

65,0

28$2

52,3

28$2

63,4

26$3

77,8

78$1

31,6

26$3

9,93

1$0

$0

page

7


STATEMENT OF CAPITAL ALLOCATIONS(EXTERNALLY RESTRICTED CAPITAL CONTRIBUTIONS ONLY)

for the Year Ended August 31, 2011(in dollars)

Deferred UnamortizedCapital Capital

Allocations Allocations

Balance at August 31, 2010 $6,518,932 $25,774,676

Prior period adjustments $0 $0

Adjusted balance, August 31, 2010 $6,518,932 $25,774,676

Add:

Restricted capital allocations from: Alberta Education school building and modular projects $0

Other Government of Alberta $21,026

Federal Government and First Nations $0

Other sources $0

Interest earned on provincial government capital allocations $83,533

Other capital grants and donations $72,603

Net proceeds on disposal of supported capital assets $0

Insurance proceeds (and related interest) $0

Donated 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 $602,076

Expended capital allocations - current year ($1,822,002) $1,822,002

Deduct:

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

Capital allocations amortized to revenue $1,515,655

Balance at August 31, 2011 $4,874,092 $26,683,098

* 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, 2011

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 Regulation 77/2003. 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, which will be consumed subsequent to the year-end, and are accordingly recorded as prepaid expenses. Certain insurance expenses fall into this category.


August 31,2011

2. Summary of significant accounting pOlicies (continued)

Inventories

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

School generated funds

These are the funds, which come under the control and responsibility of the school principal for school activities. These funds are usually collected, retained and expended at the school level (e.g. yearbook sales, graduation fees, field trip fees, etc.).

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 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 $854,891 for the year ended August 31,2011 (2010 - $811,404). At December 31,2010 the Local Authorities Pension Plan reported a deficiency of $4,635 million {2009 deficiency of $3,999 million}.


August 31, 2011

2. Summary of significant accounting policies (continued)

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.

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.

3. Cash and Temporary Investments

2011 2010 Average Effective (Market)

Yield Cost Fair

Value

Average I IEffective (Market) •

Yield Cost Fair

Value i Cash and cash equivalents - $10,981,516 $10,981,516 - $15.870.556 $15,870.556 • Fixed-income securities:

Govemment of Canada. direct and gauranteed 1.25% 3,000,000 3,000,000 - - -Total cash and temporary investments 1.25% $13,981,516 $13,981,516 - $15,870,556 $15,870.556

4. Accounts receivable 2011 2010

Alberta Education Alberta Finance Federal Government Other Alberta School Jurisdictions Other

$ 17,531 125,674 101,475

15,644 227.735

$ 208,846 169,545 114,497

15,407 151.992

$ 488.059 $ §60,2~7


August 31,2011

5. Trust assets and liabilities

Scholarship trusts Deferred Salary Leave Plan Community Learning Council

2011

$ 152,253

53,420

$ 205,673

$

$

2010

144,811 95,722

240,533

6.

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

Capital Assets

i

Equipment-Construction Computer In Progress Hardware & other

Land New Building Buildings Software Equipment Vehicles

Estimated Useful Life Historical Cost September 1, 2010 $242,290 $1,107,642 $58,177,338 $1,476,956 $1,202,365 $569,498 Additions 1,711,193 132,260 516,855 160,952 45,733 Transfers in (out) Less disposals induding write-offs (171,010) (39,863) (16,900) August 31,2011 $242,290 $2,818,835 $58,309,598 $1,822,801 $1,323,454 $598,331

Accumulated Amortization i September 1, 2010 $0 $0 $28,616,022 $725,520 $560,367 $239,856 Amortization expense 1,592,216 190,555 114,055 58,028 Transfers in (out) Effed of disposals (171,010) (39,863) (16,900) August 31. 2011 $0 $0 $30,208,238 $745,065 $634,559 $280,984

Net Book Value at August 31, 2011 $242,290 $2,818,835 $28,101,360 $1,077,736 $688,895 $317,347

Total

$62,776,089 • 2,566,993

(227,773) $65,115,309

$30,141,765 1,954,854

(227,773) $31,868,846 $33,246,463

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, 2011.

8. Accounts payable and accrued liabilities 2011 2010

Alberta Finance $ 126,786 $ 171,310 Federal Government 27,255 575,161 Other Trade Payables and Accrued Liabilities 767,344 1,178.366

$ 921,385 $ 1,924,837


August 31,2011

9. Deferred revenue

SOURCE AND GRANT OR FUND TYPE ADD: DEDUCT: ADD(DEDUCT):' DEFERREDDEFERRED 2010/2011 2010/2011

REVENUE Restricted Restricted 201012011 as at Funds Funds Adjustments

Aug. 31, Receivedl Expended or Returned 2010 Receivable (Paid/Payable) Funds

i Alberta Education Restricted Operational Funding: Infrastructure Maintenance Renewal $2,257,014 $784,193 $152,830 Block Modernization 35,278 35,278 Alberta Initiative for School Improvement 50,602 551.188 465,385 Small Class Size Initiative 80,789 80,789 CTS Bridging Grant - 18.000

Other Government of Alberta Restricted Funding: Child and Family Services Authority 23,463 111,444 72,277 FASD Network Grant 13.500 13,500 CTS Equipment Grant 30,679 30,679 Braillest 9.595 140,000 60,121 SCHEP 2,464 60.099 55,882

i Federal Government Indian & Northern Affairs 356.801 356,801

Other Deferred Revenue: Instructional Material Fees 7 7 Supemet lease 5,139 4.780 5,139 Bus passes 8,540 16,240 8,540

TOTAL $2,873.871 $1,685,944 $1.337,228

REVENUE as at

Aug. 31, 2011

$2,888,377 -

136,405 -

18.000

62,630 --

89,474 6,681

-

-4.780

16.240

$3,222,587

i

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.


August 31, 2011

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.

12. Long-term debt 2011 2010

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 $2,059,277 is fully supported. Interest paid on $ 2,071,277 $ 2,681,053 long-term debt during 2010 - 2011 was $220,365.

Less: current portion 403,980 609,776

$ 1,655,297 $ 2,071,277

Debenture and capital loan repayments required in each of the next five years and beyond are due as follows:

Principal Interest Total

2011·2012 $ 403,980 $ 202,583 $ 606,563 2012 - 2013 387,637 162,266 549,903 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 to maturity 307.738 41,655 349,393

Total $ 2,071,277 $ 670,667 $ 2,741,944

The current portion of long-term debt includes $396,281 of amounts payable by Alberta Finance on supported debt; therefore, the working capital (current assets minus current liabilities) is understated by this amount.


August 31, 2011

13. 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 2011 were $nil (2010 - $1,000) and past service costs were $nil (2009 - $nil). The accrued benefit liability at August 31, 2011 is $nil (2010 $13,100).

14. 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 and grounds maintenance.

2011-2012 2012-2013 2013-2014 2014-2015 2015- thereafter

Total

Building Projects

$ 319,480 341,958 316,667 241,676 197,180

$ 1.416,961

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.

15. 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.


August 31, 2011

16. Economic dependence on related third party

The Regional Division's primary source of income is from the Alberta Government. The Regional Division's ability to continue viable operations is dependent on this funding.

17. Budget amounts

The Regional Division management prepared the budget with Board of Trustees approval given on November 30, 2010. It is presented for information purposes only and has not been audited.

18. Comparative Figures

The comparative figures have been reclassified where necessary to conform to the 2011 presentation.

19. 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 consolidated or accounted for on a modified equity basis 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, 2010 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 Finance Other departments

$ 17,531 125,674 44,442

$7,916,874 2,186,063

168,952

$41,500,015 220,365 317,994

Other: Alberta school jurisdictions 15,644 12,821

Total 2011·2012 $203,291 $10,271,889 $42,051,195

Total 2010-2011 $393,797 $11,992,248 $42,370,548


August 31, 2011

20. Remuneration and Monetary Incentives

Wetaskiwin Regional Division No. 11 has paid or accrued expenses for the year ended AUgust 31, 2011 to or on behalf of the following positions and persons in groups as follows:

Board Members FTE Remuneration Benefits Totals Expenses Mr. Rob Reimer 0.17 2,992 650 3.642 227 Mr. Ed Zacharko 1.0 22.598 4,448 27.046 3.447 Ms. Barb Johnson 1.0 20,823 1.961 22.784 7.945 Mrs. Donna Hogg 1.0 20,402 4,444 24.846 5.363 Mr. Clint Neis 1.0 21.561 4.893 26,454 6.697 Mr. Glen Norby 1.0 19.579 3.742 23.321 5.006 Mrs. Deanna Specht (Chair)

1.0 26,371 5.311 31.682 8.397

Mr. Stanley Harsch 0.83 17.927 4.359 22.286 7,349 Mrs. Shauna Bruno 0.83 17.798 4,355 22,153 5,488

Subtotal 8.0 170,051 34,163 204,214 49.919

Superintendent: Dr. Terry Pearson 1.0 153,691 21,456 181,447 17,201

SecretaryfTreasurer Ms. Arlene Dow 0.17 43,521 11,109 54,630 533 Ms. Sherri Senger 0.83 114,653 26,753 141,406 13.714

Certificated Teachers

242.7 22,739,463 2,547,432 25,280,595

Non-certificated -Other

242.9 9,450,289 2,572,673 12,022,962

TOTALS 32,671,668 5,213,586 37,885,254


UNAUDITED SCHEDULES

TO THEFINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2011[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) 644-5672 FAX: (780) 422-6996


5515 47A AVENUE, WETASKIWIN, AB T9A 3S3

(PH) 780-352-6018 (FAX) 780-352-7886

29-Nov-11

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

SCHEDULE C 5

Allocation of Revenues and Expenses to Programs

School Generated Funds (SGF)

Operations and Maintenance Program Expense Details

page 2 of 5

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

010/

2011

Ope

ratio

ns a

ndM

aint

enan

ce o

fB

oard

&R

EVEN

UES

ECS

Gra

des

1-12

Scho

ols

&Sy

stem

Ex

tern

al

Inst

ruct

ion

Inst

ruct

ion

Mai

nten

ance

Sho

psTr

ansp

orta

tion

Adm

inis

trat

ion

Serv

ices

TOTA

L(1

)A

lber

ta E

duca

tion

$2,2

03,0

25$3

0,75

0,89

2$4

,244

,962

$2,6

79,1

97$1

,621

,938

$0$4

1,50

0,01

5

(2)

Oth

er -

Gov

ernm

ent o

f Alb

erta

$82,

597

$152

,341

$224

,660

$0$0

$88,

928

$548

,526

(3)

Fede

ral G

over

nmen

t and

Firs

t Nat

ions

$49,

638

$3,3

22,7

59$6

14,5

48$0

$217

,275

$0$4

,204

,221

(4)

Oth

er A

lber

ta s

choo

l aut

horit

ies

$0$0

$0$1

2,82

1$0

$0$1

2,82

1

(5)

Out

of p

rovi

nce

auth

oriti

es$0

$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

$0

(7)

Inst

ruct

ion

reso

urce

fees

$4,4

87$2

97,9

48$3

02,4

35

(8)

Tran

spor

tatio

n fe

es-E

CS

$0$0

(9)

Tran

spor

tatio

n fe

es-G

rade

s 1-

12$2

4,94

2$2

4,94

2

(10)

Oth

er s

ales

and

ser

vice

s$0

$354

,546

$30,

814

$0$1

5,63

9$2

4,31

6$4

25,3

15

(11)

Inve

stm

ent i

ncom

e$0

$0$0

$0$1

10,5

17$0

$110

,517

(12)

Gift

s an

d do

natio

ns$0

$24,

365

$0$0

$20,

000

$0$4

4,36

5

(13)

Ren

tal o

f fac

ilitie

s$0

$0$2

5,85

5$0

$0$0

$25,

855

(14)

Gro

ss s

choo

l gen

erat

ed fu

nds

$0$1

,339

,806

$0$0

$0$0

$1,3

39,8

06

(15)

Gai

ns o

n di

spos

al o

f cap

ital a

sset

s$0

$0$2

,500

$0$0

$0$2

,500

(16)

Am

ortiz

atio

n of

cap

ital a

lloca

tions

$0$7

5,69

4$1

,439

,961

$0$0

$1,5

15,6

55

(17)

Oth

er re

venu

e$0

$0$3

,494

$0$1

,566

$0$5

,060

(18)

TOTA

L R

EVEN

UES

$2,3

39,7

47$3

6,31

8,35

3$6

,586

,795

$2,7

16,9

59$1

,986

,935

$113

,244

$50,

062,

032

EXPE

NSE

S(1

9)C

ertif

icat

ed s

alar

ies

$992

,042

$21,

395,

811

$505

,302

$0$2

2,89

3,15

4

(20)

Cer

tific

ated

ben

efits

$114

,376

$2,3

97,8

60$5

6,65

2$0

$2,5

68,8

88

(21)

Non

-cer

tific

ated

sal

arie

s an

d w

ages

$7

55,0

72$5

,857

,418

$2,2

09,0

04$1

76,8

53$7

28,0

66$5

2,10

2$9

,778

,514

(22)

Non

-cer

tific

ated

ben

efits

$184

,276

$1,6

53,4

48$5

79,8

92$3

6,43

1$1

81,4

77$9

,173

$2,6

44,6

97

(23)

SUB

- TO

TAL

$2,0

45,7

66$3

1,30

4,53

6$2

,788

,896

$213

,284

$1,4

71,4

96$6

1,27

5$3

7,88

5,25

4

(24)

Serv

ices

, con

trac

ts a

nd s

uppl

ies

$127

,837

$2,9

01,9

86$1

,921

,809

$2,5

38,5

42$4

36,8

34$5

1,96

9$7

,978

,976

(25)

Gro

ss s

choo

l gen

erat

ed fu

nds

$0$1

,328

,016

$1,3

28,0

16

(26)

Am

ortiz

atio

n of

cap

ital a

sset

s$0

$327

,238

$1,5

82,3

97$0

$45,

219

$0$1

,954

,854

(27)

Inte

rest

and

cha

rges

$0$0

$221

,819

$823

$86

$0$2

22,7

28

(28)

Loss

es o

n di

spos

al o

f cap

ital a

sset

s$0

$0$0

$0$0

$0$0

(29)

Oth

er e

xpen

se$0

$16,

965

$0$0

$0$0

$16,

965

(30)

TOTA

L EX

PEN

SES

$2,1

73,6

03$3

5,87

8,74

2$6

,514

,920

$2,7

52,6

50$1

,953

,635

$113

,244

$49,

386,

794

(31)

$166

,143

$439

,611

$71,

874

($35

,690

)$3

3,30

0$0

$675

,238

EXC

ESS

(DEF

ICIE

NC

Y) O

F R

EVEN

UES

O

VER

EXP

ENSE

S

page

3 o

f 5


SCHEDULE BSCHOOL GENERATED FUNDS (SGF) - 2010/2011

Unexpended SGF - Opening Balance August 31, 2010 (Note 1) $856,046

Sources of School Generated Funds: Gross SGF Related Expenses Net SGFFundraising activities $272,062 $180,091 $91,972Student fees (non-instructional) (note 1) $483,657 $425,078 $58,579Donations and grants to schools $47,168 $12,887 $34,281Other (describe): $458,117 $56,873 $401,244Net Additions to SGF $1,261,004 $674,928 $586,076

Net SGF Available $1,442,122

Uses of Net School Generated Funds:Extra-curricular activities $2,788Field trips $13,935Other (describe): $636,365

Total Uses of Net SGF (Note 2) $653,088

Unexpended SGF - Closing Balance August 31, 2011 (Note 3) $789,034

Notes:

1

2 The sum of "total related expenses" and "total uses of net SGF" is reported as "gross school generated funds" in the Statement of Revenues & Expenses.

School Generated Funds (SGF) are funds raised in the community for student activities that come under the control and responsibility of school management. These funds are usually collected and retained at the school for expenditures paid at the school level. SGF does not include any other funds collected at the school but remitted to central office and accounted for by central office (facility rentals, capital assets purchases, etc.)

Excludes fees collected pursuant to Section 60(2)(j) of the School Act (fees related to instructional supplies or materials - essentially textbooks, resource materials in lieu of textbooks, media, software, and materials for classrooms). Fees charged for CEU-related activities are recorded as instruction resource fees, not SGF.

3 Unexpended SGF is reported as SGF assets and SGF liabilities in the Statement of Financial Position.

page 4 of 5

Scho

ol J

uris

dict

ion

Cod

e:21

15

Expe

nsed

U

nsup

port

edU

tiliti

es

IMR

&Am

ortiz

atio

n Su

ppor

ted

TOTA

LEX

PEN

SES

Cus

todi

alM

aint

enan

cean

dM

odul

ar U

nit

& O

ther

C

apita

l & D

ebt

Ope

ratio

ns a

ndTe

leco

mm

unic

atio

nsR

eloc

atio

nsEx

pens

esSe

rvic

esM

aint

enan

ceU

ncer

tific

ated

sal

arie

s an

d w

ages

$1

,413

,879

$511

,387

$0$0

$283

,737

$2,2

09,0

04$2

,209

,004

Unc

ertif

icat

ed b

enef

its$3

83,9

69$1

19,9

70$0

$0$7

5,95

3$5

79,8

92$5

79,8

92Su

b-to

tal R

emun

erat

ion

$1,7

97,8

48$6

31,3

57$0

$0$3

59,6

90$2

,788

,896

$2,7

88,8

96Su

pplie

s an

d se

rvic

es$1

23,1

83$4

96,5

31$5

6,26

6$4

6,39

7$5

8,53

6$7

80,9

13$7

80,9

13El

ectr

icity

$497

,525

$497

,525

$497

,525

Nat

ural

gas

/hea

ting

fuel

$424

,289

$424

,289

$424

,289

Sew

er a

nd w

ater

$102

,542

$102

,542

$102

,542

Tele

com

mun

icat

ions

$0$0

$0In

sura

nce

$116

,539

$116

,539

$116

,539

Amor

tizat

ion

of c

apita

l ass

ets

Sup

porte

d$1

,439

,961

$1,4

39,9

61U

nsup

porte

d$0

$142

,436

$142

,436

$142

,436

Tota

l Am

ortiz

atio

n$0

$142

,436

$142

,436

$1,4

39,9

61$1

,582

,397

Inte

rest

on

capi

tal d

ebt

Sup

porte

d$2

20,3

65$2

20,3

65U

nsup

porte

d$0

$1,4

54$1

,454

$1,4

54O

ther

inte

rest

cha

rges

$0$0

$0Lo

sses

on

disp

osal

of c

apita

l ass

ets

$0$0

$0

TOTA

L EX

PEN

SES

$1,9

21,0

31$1

,127

,888

$1,0

80,6

23$4

6,39

7$5

34,7

66$1

43,8

90$4

,854

,594

$1,6

60,3

26$6

,514

,920

SC

HED

ULE

CO

PER

ATIO

NS

AND

MAI

NTE

NAN

CE

OF

SCH

OO

LS &

MAI

NTE

NAN

CE

SHO

PS P

RO

GR

AM E

XPEN

SE D

ETAI

LS -

2010

/201

1

Faci

lity

Plan

ning

&

Ope

ratio

ns

Adm

inis

trat

ion

SUB

-TO

TAL

Ope

ratio

ns &

M

aint

enan

ce

Sch

ool b

uild

ings

65,7

00.2

Non

sch

ool b

uild

ings

2,12

9.0

Not

e: Cus

todi

al:

All

expe

nses

rela

ted

to a

ctiv

ities

und

erta

ken

to k

eep

the

scho

ol e

nviro

nmen

t and

mai

nten

ance

sho

ps c

lean

and

saf

e.

Mai

nten

ance

: A

ll ex

pens

es a

ssoc

iate

d w

ith th

e re

pair,

repl

acem

ent,

enha

ncem

ent a

nd m

inor

con

stru

ctio

n of

bui

ldin

gs, g

roun

ds a

nd e

quip

men

t com

pone

nts.

Thi

s in

clud

es re

gula

r and

pre

vent

ativ

em

aint

enan

ce u

nder

take

n to

ens

ure

com

pone

nts

reac

h or

exc

eed

thei

r life

cyc

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

ar u

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

istra

tion

of jo

int-u

se a

gree

men

ts, a

nd a

ll ex

pens

es re

late

d to

ens

urin

g co

mpl

ianc

e w

ith h

ealth

and

saf

ety

stan

dard

s,

code

s an

d go

vern

men

t reg

ulat

ions

.Su

ppor

ted

Cap

ital &

Deb

t Ser

vice

s:

All

expe

nses

rela

ted

to s

uppo

rted

capi

tal a

sset

s am

ortiz

atio

n an

d in

tere

st o

n su

ppor

ted

capi

tal d

ebt.

SQU

ARE

MET

RES

page

5 o

f 5

Documents

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED … · School Jurisdiction Code: 2115 AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED AUGUST 31, 2011 [School Act, Sections 147(2)(a),