Audited Financial Statements

(1)

Greater St. Albert Roman Catholic Separate School District No. 734

Audited Financial Statements

For the year ending August 31, 2017

Faith in Our Students

(2)

4077AAB2

School Jurisdiction Code: 4077

AUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED AUGUST 31, 2017

[School Act, Sections 147(2)(a), 148, 151(1) and 276]

Legal Name of School Jurisdiction

Mailing Address

Telephone & Fax Numbers, and Email Address

SCHOOL JURISDICTION MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING

The financial statements of

Board of Trustees Responsibility

External Auditors

Declaration of Management and Board Chair

c.c. ALBERTA EDUCATION, Financial Reporting & Accountability Branch 8th Floor Commerce Place, 10155-102 Street, Edmonton AB T5J 4L5 EMAIL: [email protected]

PHONE: Mei-Ling: (780) 415-8940; Robert: (780) 427-3855 FAX: (780) 422-6996 Version 20170719

Board-approved Release Date

Signature

Signature Name

Name Name

SUPERINTENDENT Mr. David Keohane

SECRETARY-TREASURER OR TREASURER Mrs. Deborah Schlag

November 27, 2017

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

Greater St. Albert Roman Catholic Separate School District No. 734

6 St. Vital Avenue St. Albert AB T8N 1K2

(780) 459-7711 (780) 458-3213 [email protected]

presented to Alberta Education have been prepared by school jurisdiction management which has responsibility for their preparation, integrity and objectivity. The financial statements, including notes, have been prepared in accordance with Canadian Public Sector Accounting Standards and follow format prescribed by Alberta Education.

In fulfilling its reporting responsibilities, management has maintained internal control systems and procedures designed to provide reasonable assurance that the school jurisdiction's assets are safeguarded, that transactions are executed in accordance with appropriate authorization and that accounting records may be relied upon to properly reflect the

Greater St. Albert Roman Catholic Separate School District No. 734

Mrs. Serena Shaw

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 audited financial 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.

To the best of our knowledge and belief, these financial statements reflect, in all material respects, the financial position, results of operations, remeasurement gains and losses, changes in net financial assets (debt), and cash flows for the year in accordance with Canadian Public Sector Accounting Standards.

BOARD CHAIR

"Original Signed"

(3)

School Jurisdiction Code: 4077

734, which comprise the statement of financial position as at August 31, 2017, and the statements of operations, remeasurement gains and losses, changes in net financial assets (net debt) and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes 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 Greater St. Albert Roman Catholic Separate School District No. 734 as at August 31, 2017 and the results of its operations, remeasurement gains and losses, changes in net financial assets (net debt) and its cash flows for the year then ended in accordance with Canadian public sector accounting standards.

Edmonton, Alberta

November 27, 2017 Chartered Professional Accountants

10235 101St N.W., Suite 1600, Edmonton, Alberta, T5J 3G1, Phone: (780) 451-4406, 1 (800)661-7778

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School Jurisdiction Code: 4077

2017 2016

FINANCIAL ASSETS

Cash and cash equivalents (Schedule 5; Note 3) $ 4,220,407 $ 4,935,530

Accounts receivable (net after allowances) (Note 4) $ 2,990,929 $ 3,607,206

Portfolio investments $ - $ -

Other financial assets $ - $ -

Total financial assets $ 7,211,336 $ 8,542,736

LIABILITIES

Bank indebtedness (Note 5) $ - $ -

Accounts payable and accrued liabilities (Note 6) $ 3,226,383 $ 3,523,874

Deferred revenue (Note 7) $ 43,653,275 $ 35,169,637

Employee future benefits liabilities $ - $ -

Liability for contaminated sites $ - $ -

Other liabilities $ - $ -

Debt (Note 8)

Supported: Debentures and other supported debt $ 781,076 $ 1,481,931

Unsupported: Debentures and capital loans $ - $ -

Mortgages $ - $ -

Capital leases $ - $ -

Total liabilities $ 47,660,734 $ 40,175,442

(40,449,398)

$ $ (31,632,706)

NON-FINANCIAL ASSETS

Tangible capital assets (Schedule 6)

Land $ 1,396,416 $ 1,396,416

Construction in progress $ 19,432,258 $ 8,536,077

Buildings $ 71,190,414

Less: Accumulated amortization $ (46,597,489) $ 24,592,925 $ 26,354,139

Equipment $ 1,020,999

Less: Accumulated amortization $ (846,140) $ 174,859 $ 140,810

Vehicles $ 569,901

Computer Equipment $ 1,113,940

Total tangible capital assets $ 46,123,330 $ 37,204,415

Prepaid expenses (Note 9) $ 384,820 $ 381,533

Other non-financial assets $ - $ -

Total non-financial assets $ 46,508,150 $ 37,585,948

Accumulated surplus (Schedule 1; Note 10) $ 6,058,752 $ 5,953,242

Accumulating surplus / (deficit) is comprised of:

Accumulated operating surplus (deficit) $ 6,058,752 $ 5,953,242

Accumulated remeasurement gains (losses) $ - $ -

6,058,752

$ $ 5,953,242

Contractual obligations (Note 11)

Contingent liabilities (Note 12)

The accompanying notes and schedules are part of these financial statements.

As at August 31, 2017 (in dollars)

STATEMENT OF FINANCIAL POSITION

Net financial assets (debt)

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Budget Actual Actual

2017 2017 2016

Alberta Education $ 55,203,221 $ 57,143,047 $ 56,188,805

Other - Government of Alberta $ 1,588,988 $ 101,465 $ 162,262 Federal Government and First Nations $ 146,566 $ 159,558 $ 170,802 Other Alberta school authorities $ 20,000 $ - $ 3,340 Out of province authorities $ - $ - $ - Alberta municipalities-special tax levies $ - $ - $ -

Property taxes $ 7,815,000 $ 8,115,224 $ 8,020,225

Fees (Schedule 8) $ 2,681,875 $ 2,654,602 $ 3,174,879

Other sales and services $ 80,000 $ 73,897 $ 179,061 Investment income $ 50,000 $ 58,067 $ 55,964 Gifts and donations $ 60,000 $ 152,002 $ 150,467 Rental of facilities $ 225,647 $ 251,162 $ 231,236

Fundraising $ 200,000 $ 257,619 $ 276,651

Gains on disposal of capital assets $ - $ - $ 8,500

Other revenue $ 1,020,583 $ 1,403,641 $ 1,746,713

Total revenues $ 69,091,880 $ 70,370,284 $ 70,368,905

Instruction - ECS $ 5,547,375 $ 5,239,703 $ 5,050,212

Instruction - Grades 1 - 12 $ 50,498,836 $ 51,097,961 $ 51,375,633 Plant operations and maintenance Schedule 4 $ 8,094,888 $ 8,099,649 $ 7,696,667

Transportation $ 2,924,048 $ 2,869,110 $ 2,879,236

Board & system administration $ 2,507,408 $ 2,389,505 $ 2,408,101 External services $ 77,682 $ 568,846 $ 497,485 Total expenses $ 69,650,237 $ 70,264,774 $ 69,907,334

(558,357)

$ $ 105,510 $ 461,571

STATEMENT OF OPERATIONS

For the Year Ended August 31, 2017 (in dollars)

EXPENSES

Operating surplus (deficit)

REVENUES

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4077

2017 2016

CASH FLOWS FROM:

A. OPERATING TRANSACTIONS

Operating surplus (deficit) $ 105,510 $ 461,571

Add (Deduct) items not affecting cash:

Total amortization expense $ 2,083,180 $ 2,064,161

Gains on disposal of tangible capital assets $ - $ (8,500) Losses on disposal of tangible capital assets $ - $ 8,549 Expended deferred capital revenue recognition $ (1,587,508) $ (1,622,329) Deferred capital revenue write-down / adjustment $ - $ -

Donations in kind $ - $ -

Changes in:

Accounts receivable $ 616,277 $ 1,152,283

Prepaids $ (3,287) $ (150,569)

Other financial assets $ - $ -

Non-financial assets $ - $ -

Accounts payable, accrued and other liabilities $ (297,491) $ (7,466)

Deferred revenue (excluding EDCR) $ (553,201) $ (377,811)

Employee future benefit liabilities $ - $ - -

$ $ - Total cash flows from operating transactions $ 363,480 $ 1,519,889 B. CAPITAL TRANSACTIONS

Purchases of tangible capital assets

Land $ - $ -

Buildings $ (271,835) $ (223,962)

Equipment $ (64,731) $ (57,579)

Vehicles $ (12,558) $ (112,886)

Computer equipment $ (28,624) $ (219,788)

Net proceeds from disposal of unsupported capital assets $ - $ 8,500 -

$ $ - Total cash flows from capital transactions $ (377,748) $ (605,715) C. INVESTING TRANSACTIONS

Purchases of portfolio investments $ - $ - Dispositions of portfolio investments $ - $ - Remeasurement (gains) losses reclassified to the statement of operations $ - $ -

-

$ $ - -

$ $ - Total cash flows from investing transactions $ - $ - D. FINANCING TRANSACTIONS

Issue of debt $ - $ -

Repayment of debt $ (700,855) $ (797,016)

-

$ $ -

Issuance of capital leases $ - $ -

Repayment of capital leases $ - $ -

-

$ $ - -

$ $ - Total cash flows from financing transactions $ (700,855) $ (797,016) Increase (decrease) in cash and cash equivalents $ (715,123) $ 117,158 Cash and cash equivalents, at beginning of year $ 4,935,530 $ 4,818,372 Cash and cash equivalents, at end of year $ 4,220,407 $ 4,935,530

School Jurisdiction Code:

STATEMENT OF CASH FLOWS

Other factors affecting debt (describe)

Other (describe) Other (describe) Other (describe) Other (describe)

Other (describe) Other (Describe)

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4077

Budget 2017 2016

2017

Operating surplus (deficit) $ (558,357) $ 105,510 $ 461,571

Effect of changes in tangible capital assets

Acquisition of tangible capital assets $ - $ (11,002,095) $ (8,531,255) Amortization of tangible capital assets $ 2,043,859 $ 2,083,180 $ 2,064,161 Net carrying value of tangible capital assets disposed of $ - $ - $ 8,549 Write-down carrying value of tangible capital assets $ - $ - $ - Other changes $ - $ - $ -

Total effect of changes in tangible capital assets $ 2,043,859 $ (8,918,915) $ (6,458,545)

Changes in:

Prepaid expenses $ - $ (3,287) $ (150,569) Other non-financial assets $ - $ - $ -

Net remeasurement gains and (losses) $ - $ - $ - Endowments $ - $ - $ -

Increase (decrease) in net financial assets (net debt) $ 1,485,502 $ (8,816,692) $ (6,147,543) Net financial assets (net debt) at beginning of year $ (31,632,706) $ (31,632,706) $ (25,485,163) Net financial assets (net debt) at end of year $ (30,147,204) $ (40,449,398) $ (31,632,706)

School Jurisdiction Code:

STATEMENT OF CHANGE IN NET FINANCIAL ASSETS (NET DEBT)

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2017 2016

Accumulated remeasurement gains (losses) at beginning of year $ - $ -

-

$ $ - -

$ $ -

Unrealized gains (losses) attributable to:

Portfolio investments $ - $ - -

$ $ -

Amounts reclassified to the statement of operations:

Portfolio investments $ - $ - -

$ $ -

Net remeasurement gains (losses) for the year $ - $ -

Accumulated remeasurement gains (losses) at end of year $ - $ -

STATEMENT OF REMEASUREMENT GAINS AND LOSSES

Other

Prior Period Adj. (Explain) - Linked to Sch. 1 Prior Period Adjustment (Explain)

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SCHEDULE 1

ACCUMULATED ACCUMULATED ACCUMULATED INVESTMENT ENDOWMENTS UNRESTRICTED TOTAL TOTAL

SURPLUS REMEASUREMENT OPERATING IN TANGIBLE SURPLUS OPERATING CAPITAL

GAINS (LOSSES) SURPLUS CAPITAL RESERVES RESERVES

ASSETS

Balance at August 31, 2016 $ 5,953,242 $ - $ 5,953,242 $ 4,230,073 $ - $ 845,505 $ 458,545 $ 419,119 Prior period adjustments:

-

$ $ - $ - $ - $ - $ - $ - $ - -

$ $ - $ - $ - $ - $ - $ - $ - Adjusted Balance, August 31, 2016 $ 5,953,242 $ - $ 5,953,242 $ 4,230,073 $ - $ 845,505 $ 458,545 $ 419,119

Operating surplus (deficit) $ 105,510 $ 105,510 $ 105,510

Board funded tangible capital asset additions $ 105,911 $ (105,911) $ - $ -

Disposal of unsupported tangible capital assets or board

funded portion of supported $ - $ - $ - $ - $ -

Write-down of unsupported tangible capital assets or

board funded portion of supported $ - $ - $ - $ - $ -

Net remeasurement gains (losses) for the year $ - $ -

Endowment expenses & disbursements $ - $ - $ - $ -

Endowment contributions $ - $ - $ - $ -

Reinvested endowment income $ - $ - $ - $ -

Direct credits to accumulated surplus (Describe) $ - $ - $ - $ - $ - $ - $ -

Amortization of tangible capital assets $ - $ (2,083,180) $ 2,083,180

Capital revenue recognized $ - $ 1,587,508 $ (1,587,508)

Debt principal repayments (unsupported) $ - $ - $ -

Additional capital debt or capital leases $ - $ - $ -

Net transfers to operating reserves $ - $ (98,833) $ 98,833

Net transfers from operating reserves $ - $ 30,000 $ (30,000)

Net transfers to capital reserves $ - $ (6,677) $ 6,677

Net transfers from capital reserves $ - $ - $ -

Assumption/transfer of other operations' surplus $ - $ - $ - $ - $ - $ - $ - Other Changes $ - $ - $ - $ - $ - $ - $ - Balance at August 31, 2017 $ 6,058,752 $ - $ 6,058,752 $ 3,840,312 $ - $ 1,265,266 $ 527,378 $ 425,796

SCHEDULE OF CHANGES IN ACCUMULATED SURPLUS

for the Year Ended August 31, 2017 (in dollars)

INTERNALLY RESTRICTED

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SCHEDULE 1

Balance at August 31, 2016 Prior period adjustments:

Adjusted Balance, August 31, 2016 Operating surplus (deficit)

Board funded tangible capital asset additions

Disposal of unsupported tangible capital assets or board funded portion of supported

Write-down of unsupported tangible capital assets or board funded portion of supported

Net remeasurement gains (losses) for the year Endowment expenses & disbursements Endowment contributions

Reinvested endowment income

Direct credits to accumulated surplus (Describe) Amortization of tangible capital assets

Capital revenue recognized

Debt principal repayments (unsupported) Additional capital debt or capital leases Net transfers to operating reserves Net transfers from operating reserves Net transfers to capital reserves Net transfers from capital reserves

Assumption/transfer of other operations' surplus Other Changes

Balance at August 31, 2017

350,071

$ $ 100,000 $ 63,000 $ - $ 45,474 $ 319,119 $ - $ - $ - $ -

-

$ $ - $ - $ - $ - $ - $ - $ - $ - $ - -

$ $ - $ - $ - $ - $ - $ - $ - $ - $ - 350,071

$ $ 100,000 $ 63,000 $ - $ 45,474 $ 319,119 $ - $ - $ - $ -

-

$ $ - $ - $ - $ - $ - $ - $ - $ - $ - -

$ $ - $ - $ - $ -

-

$ $ - $ - $ - $ -

-

$ $ - $ - $ - $ - $ - $ - $ - $ - $ -

98,833

$ $ - $ - $ - $ -

(30,000)

$ $ - $ - $ - $ -

6,677

$ $ - $ - $ - $ -

-

$ $ - $ - $ - $ -

-

$ $ - $ - $ - $ - $ - $ - $ - $ - $ - -

$ $ - $ - $ - $ - $ - $ - $ - $ - $ - 418,904

$ $ 106,677 $ 63,000 $ - $ 45,474 $ 319,119 $ - $ - $ - $ - for the Year Ended August 31, 2017 (in dollars)

Operating Reserves

Capital Reserves

School & Instruction Related Operations & Maintenance Board & System Administration Transportation

External Services INTERNALLY RESTRICTED RESERVES BY PROGRAM

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4077 SCHEDULE 2

SCHEDULE OF CAPITAL REVENUE

(EXTERNALLY RESTRICTED CAPITAL REVENUE ONLY) for the Year Ended August 31, 2017 (in dollars)

Proceeds on Unexpended

Disposal of Deferred

Provincially Surplus from Provincially Capital Expended

Approved Provincially Funded Revenue from Deferred

& Funded Approved Tangible Capital Other Capital

Projects^(A) Projects ^(B) Assets^(C) Sources^(D) Revenue

Balance at August 31, 2016 $ - $ - $ - $ - $ 32,974,635 Prior period adjustments $ - $ - $ - $ - $ - Adjusted balance, August 31, 2016 $ - $ - $ - $ - $ 32,974,635 Add:

Unexpended capital revenue received from:

Alberta Education school building & modular projects (excl. IMR) $ 738,805 Infrastructure Maintenance & Renewal capital related to school facilities $ -

Other sources: $ - $ -

Unexpended capital revenue receivable from:

Alberta Education school building & modular (excl. IMR) $ 66,304

Other sources: $ - $ -

Interest earned on unexpended capital revenue $ - $ - $ - $ -

Other unexpended capital revenue: $ -

Proceeds on disposition of supported capital $ - $ -

Insurance proceeds (and related interest) $ - $ -

Donated tangible capital assets: $ -

Alberta Infrastructure managed projects $ 10,624,347

Transferred in (out) tangible capital assets (amortizable, @ net book value) $ -

Expended capital revenue - current year $ (271,835) $ - $ - $ - $ 271,835

Surplus funds approved for future project(s) $ - $ -

Other adjustments: $ - $ - $ - $ - $ - Deduct:

Net book value of supported tangible capital dispositions or write-offs $ -

Other adjustments: $ - $ - $ - $ -

Capital revenue recognized - Alberta Education $ 1,587,508

Capital revenue recognized - Other Government of Alberta $ -

Capital revenue recognized - Other revenue $ -

Balance at August 31, 2017 $ 533,274 $ - $ - $ - $ 42,283,309

(A) (B) (C) (D)

Balance of Unexpended Deferred Capital Revenue at August 31, 2017 (A) + (B) + (C) + (D) $ 533,274

Unexpended Deferred Capital Revenue

(A) - Represents funding received from the Government of Alberta to be used toward the acquisition of new approved tangible capital assets with restricted uses only. Please specify department if funds received from a source other than Alberta Education.

(B) - Represents any surplus of funding over costs from column (A) approved by Minister for future capital expenditures with restricted uses only.

(C) - Represents proceeds on disposal of provincially funded restricted-use capital assets to be expended on approved capital assets per 10(2)(a) of Disposition of Property Reg. 181/2010.

(D) - Represents capital revenue received from entities OTHER THAN the Government of Alberta for the acquisition of restricted-use tangible capital assets.

Unexpended Deferred Capital Revenue

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SCHEDULE 3 School Jurisdiction Code: 4077

2016

Plant Operations Board &

REVENUES and System External

ECS Grades 1 - 12 Maintenance Transportation Administration Services TOTAL TOTAL

(1) Alberta Education $ 4,822,563 $ 39,165,103 $ 7,956,424 $ 2,097,378 $ 2,577,419 $ 524,160 $ 57,143,047 $ 56,188,805 (2) Other - Government of Alberta $ - $ - $ 101,465 $ - $ - $ - $ 101,465 $ 162,262 (3) Federal Government and First Nations $ - $ 152,748 $ 1,210 $ - $ 5,600 $ - $ 159,558 $ 170,802 (4) Other Alberta school authorities $ - $ - $ - $ - $ - $ - $ - $ 3,340 (5) Out of province authorities $ - $ - $ - $ - $ - $ - $ - $ - (6) Alberta municipalities-special tax levies $ - $ - $ - $ - $ - $ - $ - $ - (7) Property taxes $ - $ 8,115,224 $ - $ - $ - $ - $ 8,115,224 $ 8,020,225

(8) Fees $ 405,271 $ 1,663,399 $ 585,932 $ - $ 2,654,602 $ 3,174,879

(9) Other sales and services $ 58,228 $ 15,294 $ - $ - $ 375 $ - $ 73,897 $ 179,061 (10) Investment income $ - $ 2,925 $ - $ - $ 55,142 $ - $ 58,067 $ 55,964 (11) Gifts and donations $ 12,141 $ 139,861 $ - $ - $ - $ - $ 152,002 $ 150,467 (12) Rental of facilities $ 36,772 $ 177,661 $ 27,105 $ - $ 9,624 $ - $ 251,162 $ 231,236 (13) Fundraising $ 16,869 $ 240,750 $ - $ - $ - $ - $ 257,619 $ 276,651 (14) Gains on disposal of tangible capital assets $ - $ - $ - $ - $ - $ - $ - $ 8,500 (15) Other revenue $ - $ 1,299,940 $ - $ - $ 59,011 $ 44,690 $ 1,403,641 $ 1,746,713 (16) TOTAL REVENUES $ 5,351,844 $ 50,972,905 $ 8,086,204 $ 2,683,310 $ 2,707,171 $ 568,850 $ 70,370,284 $ 70,368,905

EXPENSES

(17) Certificated salaries $ 2,136,781 $ 29,366,350 $ 412,685 $ 457,096 $ 32,372,912 $ 32,543,951

(18) Certificated benefits $ 448,916 $ 6,659,806 $ 86,391 $ 101,749 $ 7,296,862 $ 7,286,291

(19) Non-certificated salaries and wages $ 1,580,232 $ 6,472,169 $ 682,062 $ 114,208 $ 918,686 $ - $ 9,767,357 $ 9,774,192 (20) Non-certificated benefits $ 408,463 $ 1,758,119 $ 170,996 $ 31,249 $ 242,663 $ - $ 2,611,490 $ 2,679,969 (21) SUB - TOTAL $ 4,574,392 $ 44,256,444 $ 853,058 $ 145,457 $ 1,660,425 $ 558,845 $ 52,048,621 $ 52,284,403 (22) Services, contracts and supplies $ 656,517 $ 6,566,163 $ 5,417,090 $ 2,721,450 $ 656,753 $ 10,001 $ 16,027,974 $ 15,387,959

(23) Amortization of supported tangible capital assets $ - $ 1,587,508 $ 1,587,508 $ 1,622,329

(24) Amortization of unsupported tangible capital assets $ 8,794 $ 275,354 $ 145,448 $ 2,203 $ 63,873 $ - $ 495,672 $ 441,832 (25) Supported interest on capital debt $ - $ - $ 96,545 $ - $ - $ - $ 96,545 $ 162,262 (26) Unsupported interest on capital debt $ - $ - $ - $ - $ - $ - $ - $ - (27) Other interest and finance charges $ - $ - $ - $ - $ - $ - $ - $ - (28) Losses on disposal of tangible capital assets $ - $ - $ - $ - $ - $ - $ - $ 8,549 (29) Other expense $ - $ - $ - $ - $ 8,454 $ - $ 8,454 $ - (30) TOTAL EXPENSES $ 5,239,703 $ 51,097,961 $ 8,099,649 $ 2,869,110 $ 2,389,505 $ 568,846 $ 70,264,774 $ 69,907,334 (31) OPERATING SURPLUS (DEFICIT) $ 112,141 $ (125,056) $ (13,445) $ (185,800) $ 317,666 $ 4 $ 105,510 $ 461,571

SCHEDULE OF PROGRAM OPERATIONS

for the Year Ended August 31, 2017 (in dollars) 2017 Instruction

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Expensed IMR, Unsupported 2017 2016 TOTAL

Utilities Modular Unit Amortization Supported TOTAL Operations and

EXPENSES Custodial Maintenance and Relocations & & Other Capital & Debt Operations and Maintenance

Telecomm. Lease Payments Expenses Services Maintenance

Uncertificated salaries and wages $ - $ 506,483 $ - $ - $ 175,579 $ 682,062 $ 647,584 Uncertificated benefits $ - $ 157,577 $ - $ - $ 13,419 $ 170,996 $ 158,222 Sub-total Remuneration $ - $ 664,060 $ - $ - $ 188,998 $ 853,058 $ 805,806 Supplies and services $ 1,670,756 $ 346,947 $ - $ 1,936,446 $ 32,979 $ 3,987,128 $ 3,662,198

Electricity $ 642,308 $ 642,308 $ 629,079

Natural gas/heating fuel $ 463,006 $ 463,006 $ 381,665

Sewer and water $ 96,597 $ 96,597 $ 96,430

Telecommunications $ 13,357 $ 13,357 $ 12,787

Insurance $ 214,694 $ 214,694 $ 203,125

ASAP maintenance & renewal payments $ - $ - $ -

Amortization of tangible capital assets

Supported $ 1,587,508 $ 1,587,508 $ 1,622,329

Unsupported $ 145,448 $ 145,448 $ 120,986

Total Amortization $ 145,448 $ 1,587,508 $ 1,732,956 $ 1,743,315

Interest on capital debt

Supported $ 96,545 $ 96,545 $ 162,262

Unsupported $ - $ - $ -

Lease payments for facilities $ - $ - $ -

Other interest charges $ - $ - $ -

Losses on disposal of capital assets $ - $ - $ -

TOTAL EXPENSES $ 1,670,756 $ 1,011,007 $ 1,215,268 $ 1,936,446 $ 436,671 $ 145,448 $ 1,684,053 $ 8,099,649 $ 7,696,667

School buildings 73,080.6 73,080.6

Non school buildings 2,314.0 2,314.0

All expenses related to activities undertaken to keep the school environment and maintenance shops clean and safe.

All expenses associated with the repair, replacement, enhancement and minor construction of buildings, grounds and equipment components. This includes regular and preventative maintenance undertaken to ensure components reach or exceed their life cycle and the repair of broken components. Maintenance expenses exclude operational costs related to expensed IMR & Modular Unit relocations, as they are reported on separately.

All expenses related to electricity, natural gas and other heating fuels, sewer and water and all forms of telecommunications.

All operational expenses associated with non-capitalized Infrastructure Maintenance Renewal projects, modular unit (portable) relocation, and payments on leased facilities.

All expenses related to the administration of operations and maintenance including (but not limited to) contract administration, clerical functions, negotiations, supervision of employees

& contractors, school facility planning & project 'administration', administration of joint-use agreements, and all expenses related to ensuring compliance with health and safety standards, codes and government regulations.

All expenses related to unsupported capital assets amortization and interest on unsupported capital debt.

All expenses related to supported capital assets amortization and interest on supported capital debt.

Supported Capital & Debt Services:

Facility Planning & Operations Administration:

Expensed IMR & Modular Unit Relocation & Lease Pmts:

Utilities & Telecommunications:

Maintenance:

Unsupported Amortization & Other Expenses:

SQUARE METRES

SCHEDULE OF PLANT OPERATIONS AND MAINTENANCE EXPENSES

Facility Planning &

Operations Administration

Custodial:

Note:

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Cash & Cash Equivalents ²⁰¹⁶

Average Effective (Market) Yield

Cost Amortized Cost Amortized Cost

Cash 1.00% $ 4,220,407 $ 4,220,407 $ 4,935,530

Cash equivalents

Government of Canada, direct and guaranteed 0.00% - - - Provincial, direct and guaranteed 0.00% - - - Corporate 0.00% - - - Municipal 0.00% - - - Pooled investment funds 0.00% - - - Other, including GIC's 0.00% - - - Total cash and cash equivalents 0.00% $ 4,220,407 $ 4,220,407 $ 4,935,530

See Note 3 for additional detail.

Portfolio Investments ²⁰¹⁶

Average Effective

(Market) Yield Cost Fair Value Balance Balance

Long term deposits 0.00% $ - $ - $ - $ - Guaranteed investment certificates 0.00% - - - - Fixed income securities

Government of Canada, direct and guaranteed

0.00% $ - $ - $ - $ - Provincial, direct and guaranteed 0.00% - - - - Municipal 0.00% - - - - Corporate 0.00% - - - - Pooled investment funds 0.00% - - - - Total fixed income securities 0.00% - - - - Equities

Canadian 0.00% $ - $ - $ - $ - Foreign 0.00% - - - - Total equities 0.00% - - - - Supplemental integrated pension plan assets 0.00% $ - $ - $ - $ - Restricted investments 0.00% - - - - Other (Specify) 0.00% - - - - Other (Specify) 0.00% - - - - Total portfolio investments 0.00% $ - $ - $ - $ -

The following represents the maturity structure for portfolio investments based on principal amount:

2017 2016

Under 1 year 0.0% 0.0%

1 to 5 years 0.0% 0.0%

6 to 10 years 0.0% 0.0%

11 to 20 years 0.0% 0.0%

Over 20 years 0.0% 0.0%

0.0% 0.0%

2017

SCHEDULE OF CASH, CASH EQUIVALENTS, AND PORTFOLIO INVESTMENTS for the Year Ended August 31, 2017 (in dollars)

(16)

Tangible Capital Assets 2016

Estimated useful life 10-40 Years 5-10 Years 5-10 Years 3-5 Years

Historical cost

Beginning of year $ 1,396,416 $ 8,536,077 $ 71,190,414 $ 971,500 $ 557,343 $ 1,318,574 $ 83,970,324 $ 75,957,569 Prior period adjustments - - - - Additions - 10,896,181 - 64,731 12,558 28,624 11,002,094 8,531,255 Transfers in (out) - - - - Less disposals including write-offs - - - (15,232) - (233,258) (248,490) (518,500) Historical cost, August 31, 2017 $ 1,396,416 $ 19,432,258 $ 71,190,414 $ 1,020,999 $ 569,901 $ 1,113,940 $ 94,723,928 $ 83,970,324 Accumulated amortization

Beginning of year $ - $ - $ 44,836,275 $ 830,690 $ 284,410 $ 814,534 $ 46,765,909 $ 45,211,699 Prior period adjustments - - - -

Amortization - - 1,761,214 30,682 80,764 210,519 2,083,179 2,064,161

Other additions - - - - - Transfers in (out) - - - - Less disposals including write-offs - - - (15,232) - (233,258) (248,490) (509,951) Accumulated amortization, August 31, 2017 $ - $ - $ 46,597,489 $ 846,140 $ 365,174 $ 791,795 $ 48,600,598 $ 46,765,909 Net Book Value at August 31, 2017 $ 1,396,416 $ 19,432,258 $ 24,592,925 $ 174,859 $ 204,727 $ 322,145 $ 46,123,330

Net Book Value at August 31, 2016 $ 1,396,416 $ 8,536,077 $ 26,354,139 $ 140,810 $ 272,933 $ 504,040 $ 37,204,415

2017 2016

$ - $ - $ - $ -

Total Total

Total amortization of assets under capital lease

SCHEDULE OF CAPITAL ASSETS

2017

Land

Construction In

Progress Buildings

Other Equipment

& Furnishings Vehicles

Computer Hardware &

Software

Total cost of assets under capital lease

(17)

Negotiated Performance Other Accrued

Board Members: FTE Remuneration Benefits Allowances Bonuses Unpaid Benefits (1) Expenses

Trustee Becigneul 0.92 $ 13,806 $ 4,764 $ 1,650 $ - $ 3,652

Trustee Crockett 1.00 20,204 5,631 1,800 - 5,449

Trustee McEvoy (Vice Chair) 1.00 19,392 4,790 2,850 - 6,726

Trustee Proulx 1.00 16,284 5,351 1,800 - 9,113

Trustee Radford (Chair Sep) 1.00 17,193 5,383 1,925 - 6,959 Trustee Shaw (Chair Oct to Aug) 1.00 20,753 5,639 3,175 - 5,881

Trustee Tremblay 1.00 15,964 5,288 1,800 - 6,043

-

- - - - - -

- - - - -

Subtotal 6.92 $ 123,596 $ 36,846 $ 15,000 $ - $ 43,823

David Keohane, Superintendent 1.00 $ 202,957 $ 37,936 $ 3,600 $ - $ - $ 14,965 $ 17,262 Deborah Schlag, Secretary-Treasurer 1.00 156,158 35,115 3,000 - - 4,359 9,894

-

- - - - - - -

- - - - - - Certificated teachers 332.36 $ 32,169,955 $ 7,251,662 $ 16,000 $ - $ - $ 14,605

Non-certificated - other 187.88 9,487,603 2,539,529 15,850 - - 43,750

TOTALS 529.16 $ 42,140,269 $ 9,901,088 $ 53,450 $ - $ - $ 77,679 $ 70,979 ERIP's / Other Paid

SCHEDULE OF REMUNERATION AND MONETARY INCENTIVES for the Year Ended August 31, 2017 (in dollars)

(1) Other Accrued Unpaid Benefits Include: For the Superintendent, Other Accrued Unpaid Benefits includes SiPP and unpaid vacation. For all other positions, it includes unpaid vacation.

(18)

School Jurisdiction Code: 4077 SCHEDULE 8

Transportation Fees $ 650,000 $ 585,932 $ - $ 2,794,789 $ - Basic Instruction Fees

Basic instruction supplies 560,000 245,903 - 715,008 - Fees to Enhance Basic Instruction

Technology user fees - 100,673 - 169,655 - Alternative program fees 431,900 462,700 - 674,847 - Fees for optional courses 80,000 219,896 - 249,976 - Activity fees 300,000 605,104 - 730,081 - Early childhood services - - - - - Other fees to enhance education - - - - -

20,000

16,300 - 172,138 - -

- - - - Non-Curricular fees

Extracurricular fees 170,000 2,382 - 405,634 - Non-curricular travel - - - - - Lunch supervision and noon hour activity fees 50,000 81,850 - 115,909 - Non-curricular goods and services 120,000 1,926 - 274,309 -

260,000

265,064 - 265,666 - 39,975

66,872 - 84,770 - TOTAL FEES $ ^2,681,875 $ 2,654,602 $ - $ 6,652,782 $ -

*Unexpended balances cannot be less than $0

Actual Actual

2017 2016

Cafeteria sales, hot lunch, milk programs $ 239,436 $ 191,996

Special events, graduation, tickets 269,885 194,968

International and out of province student revenue 18,940 -

Sales or rentals of other supplies/services (clothing, agendas, yearbooks) 225,449 341,856

Adult education revenue - -

Preschool 58,228 -

Child care & before and after school care - -

Lost item replacement fee - -

348,685

219,440 -

- -

-

TOTAL $ 1,160,623 $ 948,260

Summer School

All Day Every Day Kindergarten Fees Progressive Kindergarten Fees

UNAUDITED SCHEDULE OF FEES

for the Year Ending August 31, 2017 (in dollars)

Budgeted Fee Revenues 2016/2017

Actual Fees Collected 2016/2017

Unexpended Balance at September 1, 2016*

Actual Fee Expenditures

2016/2017

Unexpended Balance at August 31, 2017*

Please disclose amounts paid by parents of students that are recorded as "Other sales and services", "Fundraising", or "Other revenue" (rather than fee revenue):

Clubs & Teams: Fees, Tournaments, Wrapups Other (Describe)

Other (Describe)

Other Enhancement fees (describe)

(19)

SCHEDULE 9 4077

Funded Students in Program 377 176 268 Federally Funded Students 17

REVENUES

Alberta Education allocated funding $ 429,417 $ 2,444,091 $ 196,056 $ 3,085,020 $ 160,106 Other funding allocated by the board to the program 20,500 451,081 - 4,541,237 - TOTAL REVENUES $ 449,917 $ 2,895,172 $ 196,056 $ 7,626,257 $ 160,106 EXPENSES (Not allocated from BASE, Transportation, or other funding)

Instructional certificated salaries & benefits $ 244,849 $ 659,768 $ 193,652 $ 2,458,058 Instructional non-certificated salaries & benefits 73,860 1,703,247 - 4,635,811

SUB TOTAL $ 318,709 $ 2,363,015 $ 193,652 $ 7,093,869

Supplies, contracts and services $ 122,880 $ 254,142 $ 76,517 $ 327,616 Program planning, monitoring & evaluation 12,067 85,466 8,193 172,873 Facilities (required specifically for program area) - - - - Administration (administrative salaries & services) 16,197 26,733 7,058 64,259 Other (please describe) - 168,147 - - Other (please describe) - - - - TOTAL EXPENSES $ 469,853 $ 2,897,503 $ 285,420 $ 7,658,617 NET FUNDING SURPLUS (SHORTFALL) $ (19,936) $ (2,331) $ (89,364) $ (32,360)

UNAUDITED SCHEDULE OF DIFFERENTIAL FUNDING for the Year Ended August 31, 2017 (in dollars)

PROGRAM AREA First Nations, Metis &

Inuit (FNMI)

ECS Program Unit Funding (PUF)

English as a Second

Language (ESL) Inclusive Education

Small Schools by Necessity (Revenue

only)

(20)

School Jurisdiction Code: 4077 SCHEDULE 10

EXPENSES TOTAL

Office of the superintendent $ 307,169 $ 17,776 $ - $ 324,945 $ 43,104 $ - $ - $ 368,049 Educational administration (excluding superintendent) 71,752 6,058 - 77,810 164,679 42,877 - 285,366 Business administration 465,284 185,195 - 650,479 112,584 4,835 - 767,898 Board governance (Board of Trustees) 120,271 210,495 - 330,766 - - - 330,766 Information technology - 77,484 - 77,484 478,166 530,229 - 1,085,879 Human resources 407,394 31,611 - 439,005 42,502 21,176 - 502,683 Central purchasing, communications, marketing 110,521 54,426 - 164,947 5,025 - - 169,972 Payroll 175,938 1,654 - 177,592 - - - 177,592

Administration - insurance 82,604 82,604 - 82,604

Administration - amortization 63,873 63,873 - 63,873

Administration - other (admin building, interest) - - - -

Other (describe) - - - - - - - - Other (describe) - - - - - - - - Other (describe) - - - - - - - - TOTAL EXPENSES $ 1,658,329 $ 584,699 $ 146,477 $ 2,389,505 $ 846,060 $ 599,117 $ - $ 3,834,682

UNAUDITED SCHEDULE OF CENTRAL ADMINISTRATION EXPENSES

Other Supplies &

Services Salaries &

Benefits

Allocated to Board & System Administration Allocated to Other Programs

TOTAL Salaries &

Benefits

Supplies &

Services Other

Audited Financial Statements

Greater St. Albert Roman Catholic Separate School District No. 734