Finance & Accounting School Based Funds August 25, 2014

1. Finance & AccountingSchool Based FundsAugust 25, 2014

2. Finance Department Contacts • Director of Finance George Boudreau gboudreau@cbvrsb.ca 562-6489 • Coordinator Finance Sandra Burke & Accounting 562-6497 sburke@cbvrsb.ca • Assistant Coordinator Nancy Costigan Finance &Accounting 562-6493 ncostigan@cbvrsb.ca

3. Finance Department Contacts continued… • Accountant – School Services Wendy Lyle wlyle@staff.ednet.ns.ca 562-6882 • Accounts Payable Supervisor Johna MacNeil j_macneil@staff.ednet.ns.ca 562-6884 •  Payroll Supervisor(Acting) Shelly Lee shellylee@staff.ednet.ns.ca 562-6496 • Purchasing Agent Kevin Moules kmoules@staff.ednet.ns.ca 562-6025

4. We are your service provider • The Finance Staff is a service provider to each of the schools and the employees of CBVRSB. Our job is to serve you and help in anyway we can to make your jobs easier. We are a “resource” to you. Collectively, we want to work with you for the betterment of the School Board.

5. 2014-2015 School Year • Staffing changes • Johna MacNeil, Accounts Payable Supervisor will be retiring at the end of October 2014. • Wendy Lyle, Accountant School Services, will be re-assigned to another vacant accounting position in Finance by the end of September 2014. • Shelly Lee started as “Acting Payroll Supervisor” at the beginning of June 2014. She will be in this position for 6 months to a year.

6. 2014-2015 School Year Finance Package contents: • School instructional budgets – completed and in your packages • Changes for this year are as follows: • Photocopying charges have been assigned their own cost centre, by school, and have been assigned their own budget amount. You will still see your photocopying charges and are required to monitor them but they are separate from your supplies and materials. This is to make it easier for you to see where you stand during the year. • Telecommunication charges are again showing for your school budgets (previously taken out). This is to align with the other school boards in the province and to allow you access to view and monitor these charges. They, like photocopying charges, have their own cost centre and have been assigned their own budget amount.

7. 2014-2015 School Year • Finance package contents continued… • New Principals only (or those changing schools) – Instructions on accessing your SAP Finance Accounts (School Instructional Budget).

8. 2014-2015 School Year • Pilot of on-line KEV cashless school system. Implementation is in process with anticipated start at the end of September. • Chartwell’s – starting this school year, 100% of the Chartwells commissions will be going directly to each schools. (previously 50% held at the Board). Cheques will go directly to the school and not through the Finance office. • BI2 – SAP project. In late November (anticipated date) we will be getting an upgrade to SAP and we will be changing to an on-line requisitioning and approval process. Training will take place during the month of November 2014.

9. 2014-2015 School Year • Policy and Procedures • The school based funds policy and procedures are currently being revised. There will be much more detail on financial procedures. It is anticipated that these changes will go to Sr. Staff and the policy committee in the fall. • Once passed by the policy committee, there will be a mandatory PD session, for all School Administrators. PD on this policy and procedures will be completed, from hereon in, on an annual basis.

10. School Based Funds – What qualifies ? • Funds raised through contracts and service agreements (ie. Cafeteria services, vending machines, coffee machines, etc…) • School-based fees for services, athletics, yearbooks, etc.. • Funds raised for charities and/or specific events (ie. Terry Fox Run or a school trip) • Charitable donations • Scholarship funds under the control of the school

11. School Based Funds – What doesn’t qualify? • Teacher social and bereavement funds. These must be kept in an account separate from the school based funds.

12. School Based Funds • Rule of thumb: “ If the funds are in a bank account that is under the signing authority of an employee of the CBVRSB, (ie. Principal, Vice Principal or teacher) and are for the benefit of the students, then the funds are considered “school based funds” and must be reported”

13. Acceptable/unacceptable uses of Funds • Funds raised for a specific purpose must be used for the intended purpose. • Funds raised for a general purpose with no specific intent must be used for school-related activities at the discretion of the school principal.

14. Year end reporting • Fiscal year: April 1st to March 31st of each year • Deadline for submission of school reports to Finance Department: April 30th of each year • Requirements: • March bank statement for each bank account • Bank reconciliation for each bank account • Year end financial statement of each account Please note that this includes all scholarship accounts

15. Thank you A copy of this presentation is available on the Principal’s website

16. QUESTIONS?