DIC: Financial Reports and Statements

Classification: 
D: Fiscal Management
Code: 
DIC

On or before September 15 of each year, the Board of School Trustees (the “Board”) is required by law to have its Secretary-Treasurer prepare financial statements about the preceding fiscal year.  These statements must include for each fund a balance sheet, a statement of revenues and expenditures, and any other information that the Minister of Education may direct or the regulations prescribe. 

Following Board approval, the financial statements shall be signed by the Chairperson of the Board and the Secretary-Treasurer.  Not later than September 30 in each year, the Secretary-Treasurer shall forward to the Minister a copy of the financial statements together with the auditor's report and, not later than December 31 of each year, the financial statements shall be published for distribution to the public, together with the auditor's report. 

In addition to these annual financial statements, the Board shall prepare other financial reports and statements as may be required by the Ministry, and the Secretary-Treasurer may be asked by the Board to submit periodic reports showing the current financial status of the school system.

DMT Responsibility:CONT.

Cross References: 
DIE Audits
Adopted Date: 
Monday October 18, 1982
Revision Date: 
Sep 1994
Jan 1999