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Year-End Reporting Guide: Financial Analysis & Attestation Form

Understand the reporting requirements for financial analysis and attestation in the financial sector. Learn how to complete the attestation form, calculate key financial elements, and meet certification guidelines. Assistance and resources provided.

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Year-End Reporting Guide: Financial Analysis & Attestation Form

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  1. Financial Reporting Overview & Attestation Users

  2. General Reporting Requirements • Reporting requirements are outlined in the 2011/12 Child Care Business Practices Guideline 2 Sections: Funding Allocations > $350,000 (Pages 3 – 7) Funding Allocations < $350,000 (Pages 8 -11)

  3. General Reporting Requirements

  4. 2011/12 Health & Safety Reporting Requirements * MEDU = Ministry of Education 4

  5. Financial Analysis & Accountability Branch Website Link

  6. Breakout Sessions

  7. What are the Year-End Reporting Requirements? 3 Components: • Completed attestation form (hard copy AND electronic copy) • Audited financial statements of the First Nation which covers all programs provided by the First Nation including child care (hard copy OR electronic copy) • A post audit management letter issued by the external auditors (hard copy OR electronic copy) • If such a letter is not issued, confirmation in writing indicating that no such letter was received by the First Nation

  8. What is an Attestation Form ? • Form that is completed to try to verify statements • Self-certification process / no external validation by auditors • Valid document type to confirm specific details • The key is to be clear and specific

  9. How to Complete the Attestation Form Step # 1: Introductory Section NOTE: Only enter data in white cells

  10. How to Complete the Attestation Form Step # 2: Financial Summary

  11. How to Complete the Attestation Form Step # 3: Data Summary (4 categories of data)

  12. EFIS Reminders – Schedule 1.1 1. How to calculate average monthly # of children The sum of the number of children served (headcount) in each month / 12 (10+12+11+19+19+11+12+13+14+14+16+15)/12 = 166/12 = 13.83 2. How to calculate total number of children (families) served The sum of all newly enrolled children during the year (10+2+0+5+0+0+0+1+0+0+2+0) = 19 13

  13. Step # 3 – Data Elements Defined (Continued) 3. How to calculate Full-time equivalence (FTE) of staff FTE is based on a minimum of 35 hours per week but you should use the standard work week applicable to your first nation. Formula = # of hours worked # of hours in standard work week Assume you are providing wage subsidy to three staff, what is their FTE They work the following number of hours: Staff # 1 = 40 hours per week Staff # 2 = 20 hours per week Staff # 3 = 45 hours per week The standard work week for these staff is 40 hours per week The total FTE for the 3 staff is 2.50 : Staff 1 = 40 hours worked / 40 hour standard work week = 1.00 FTE Staff 2 = 20 hours worked / 40 hour standard work week = 0.50 FTE Staff 3 = 45 hours worked / 40 hour standard work week = 1.00 FTE (actual calculation is 1.13 FTE but FTE can never exceed 1.0 per person) 4. How to calculate # of licensed centres funded The number of centres that received health & safety funding; if none was received, report 0 14

  14. How to Complete the Attestation Form Step # 4: Certification One or the other

  15. How to Complete the Attestation Form Step # 5: Contact Person

  16. How to Complete the Attestation Form Step # 6: Signing Authorities

  17. How to Complete the Attestation Form Step # 7: Submitting your attestation form Due Date: July 31, 2012

  18. Assistance on Year-End Reporting Requirements • Refer to 2011/12 Business Practices Guideline (more details in upcoming 2012/13 Guideline) • Refer to Appendix A accompanying the Attestation Form • Contact your financial analyst

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