Finance

The Finance Department is responsible for all financial aspects for SD73.  Services that fall under the Finance Department include payroll, accounts payable, accounts receivable, donations, property management and facility rentals.

Please find below records related to the financial aspects of SD73.

 Budget

In February each year, SD73 begins the preparation of the annual Operating Budget.  Projected enrolment numbers are due at the Ministry of Education on February 15th each year.

Based on our projected enrolment, on or before March 15th, the Ministry provides estimated funding for the following school year.  We then generate a complete list of external cost drivers and their financial implications that will impact the following year’s operating budget and add/subtract these costs from our current budget.

The next step involves adjusting our staffing needs based on our projected enrolment.  At this stage of the process, we have a fairly good indication of the budget challenge our District needs to address to ensure that we file a balanced budget prior to June 30th each year.

The Board of Education embarks on a public budget input process in March/April of each year.  Stakeholders are invited to attend meetings to learn about the proposed changes to services and staffing to meet budget obligations and provide the Board with feedback.  The Board considers all feedback received and considers the information in its budget deliberations.

In order to meet its contractual obligations to its employee groups, the Board must adopt a balanced budget by the end of April or in early May each year.

 Financial Statements

 A record of the Financial Statements for SD73 beginning in year 2006/2007. 

 Statement of Financial Information (SOFI)

 In accordance with the Financial Information Act, each Board of Education is required to prepare a Statement of Financial Information (SOFI) for each fiscal year ending June 30thBy clicking here, you will be redirected to the Ministry of Education website where this information is available for all K-12 School Districts.

 Executive Compensation

Public sector organizations must disclose all compensation provided to the Chief Executive Officer and the next four highest ranking/paid executives for the services they have provided to the organization.

 

 SD73 Business Company

 The SD73  Business Company was incorporated on February 14, 2006. This company is a wholly owned subsidiary of School District No. 73 (Kamloops-Thompson) which is governed by the School Act.

Contact Us