AND SUPPLEMENTARY INFORMATION · Special education co-ordinators or student services administrators...

Schools' Finance Branch

511-1181 Portage Avenue

Winnipeg, ManitobaR3G 0T3

MOUNTAIN VIEW SCHOOL DIVISIONBOX 715

DAUPHIN, MANITOBA R7N 3B3

AUDITED FINANCIAL STATEMENTS

AND SUPPLEMENTARY INFORMATION

June 30, 2015

TABLE OF CONTENTS

2014/2015 FINANCIAL STATEMENTS

PAGE

AUDITOR'S REPORT

AUDITOR'S REPORT ON ENROLMENT (with EIS Cert. - part 2 of 2)

AUDITOR'S MANAGEMENT LETTER

MANAGEMENT RESPONSIBILITY LETTER

ORGANIZATIONAL CHART

EXPENSE DEFINITIONS i

CONSOLIDATED

STATEMENT OF FINANCIAL POSITION 1

STATEMENT OF REVENUE, EXPENSES AND ACCUMULATED SURPLUS 2

STATEMENT OF CHANGE IN NET DEBT 3

STATEMENT OF CASH FLOW 4

NOTES TO THE FINANCIAL STATEMENTS

ANALYSIS OF CONSOLIDATED ACCUMULATED SURPLUS 5

OPERATING FUND

SCHEDULE OF FINANCIAL POSITION 6

SCHEDULE OF REVENUE, EXPENSES AND ACCUMULATED SURPLUS 7

REVENUE DETAIL: PROVINCE OF MANITOBA 8 - 9

REVENUE DETAIL: NON-PROVINCIAL GOVERNMENT SOURCES 10

EXPENSE BY FUNCTION AND BY OBJECT 11

EXPENSE DETAIL

- Function 100: Regular Instruction 12

- Function 200: Student Support Services 13

- Function 300: Adult Learning Centres 14

- Function 400: Community Education and Services 15

- Function 500: Divisional Administration 16

- Function 600: Instructional and Other Support Services 17

- Function 700: Transportation of Pupils 18

- Function 800: Operations and Maintenance 19

DETAIL OF TRANSFERS TO (FROM) CAPITAL FUND 20

CAPITAL FUND



SCHEDULE OF TANGIBLE CAPITAL ASSETS 23

SCHEDULE OF RESERVE ACCOUNTS 24

SPECIAL PURPOSE FUND



STUDENT ENROLMENTS (FRAME) AND TRANSPORTATION STATISTICS (unaudited) 27

FULL TIME EQUIVALENT PERSONNEL (unaudited) 28

CALCULATION OF ADMINISTRATION COSTS (audited) 29

CALCULATION OF ALLOWABLE AND UNSUPPORTED EXPENSES 30 - 32

MVSD Organizational Structure Board Approved August 25, 2014

Sr. Technician(s)

Jr. Technician(s)

Homestay Manager

Manager of Human Resources

Workplace Health and Safety Officer

School Principals

School Secretary(s)

Custodian(s)

School Library Assistants

Psychologists

HSAP Facilitator

PD Centre Library Assistants

Superintendent/CEO

Board of Trustees

Secretary - Treasurer (Assistant Superintendent Finance and Asset Management)

Manager of Communication &

Reporting Administrative

Secretary

Assistant Superintendent Programs and Planning

Coordinator of Operations Coordinator of Finance

Coordinator of International Student

Program Coordinator of Library

Services Coordinator of ICT Coordinator of Educational Services

Coordinator of Curriculum and

Assessment

RR Teacher Leader Assistant

Maintenance Coordinator

Assistant Transportation

Coordinator

Youth Support Workers

K - 12 Literacy Learning Coach

Learning to Age 18 Facilitator

Speech /language Pathologists

Maintenance Staff

DO Custodian

Accounting Clerks

Payroll Administrator

Instructional Staff

Vice - Principal(s)

Education Assistants

Mechanical Staff

Bus Drivers

Secretary Secretary DO Receptionist

Facilities Systems Manager

Secretaries

K - 8 Numeracy and UDL Coach

Accounting Clerk (Payroll)

Function 100 - Regular Instruction - Consists of costs related directly to the K - 12 classroom (e.g. teachers, educational assistants,

Function 200 - Student Support Services - Consists of costs specifically related to students who have exceptional learning

Function 300 - Adult Learning Centres - Consists of costs related to Adult Learning Centres (ALC) owned and operated

Function 400 - Community Education and Services - Consists of costs related to providing services (such as community

Function 500 - Divisional Administration - Consists of costs related to the administration of the school division including

Function 600 - Instructional and Other Support Services - Consists of costs related to support services for students,

Function 700 - Transportation of Pupils - Consists of all costs, including supervisory and clerical personnel, related to the

Function 800 - Operations and Maintenance - Consists of all costs, including supervisory and clerical personnel, related to the

Function 900 - Fiscal - Consists of short-term loan interest, bank charges, bad debts expense and the Health and Education

Operating Fund - consists of the nine functions defined below:

textbooks, related supplies, services and equipment such as desks, chairs, audio-visual equipment and computers). Also includes

supplies. Does not include capital costs.

Levy.

school based administration costs including principals, vice-principals and support staff.

costs would include special education and resource teachers, special needs educational assistants, counsellors, clinicians, and related and appropriate services (e.g. occupational therapists), supplies, textbooks, materials, equipment and software. Special education co-ordinators or student services administrators and clerical staff are also included.

capital fund.

the board of trustees and the superintendent's and secretary-treasurer's departments.

use of facilities and gym rentals) and non-credit courses to community groups and individuals. Includes pre-kindergarten

upkeep, maintenance and minor repair of all school division buildings and grounds. Includes utilities, taxes, insurance and

EXPENSE DEFINITIONS

to curriculum and program delivery. Does not include costs associated with adults in the regular classroom. Also,

needs, as well as counselling and guidance and resource costs for all students. Students with exceptional learning needs

does not include costs associated with ALC's that are governed by their own board of directors.

are students who have physical, cognitive, sensory, or emotional/behavioural disabilities or who are identified as gifted. These

education.

teaching staff and the educational process, such as libraries/media centers, professional development, and curriculum

transportation of pupils. Does not include the purchase of school buses over $20,000 per unit as they are recorded in the

consulting and development.

by school divisions. ALC's offer adult centred programs in which adult education principles and practices are applied

i

Mountain View School Division 13-Oct-15

Notes 2015 2014

Financial Assets

Cash and Bank - -

Due from - Provincial Government 1,364,363 3,348,178

- Federal Government 59,150 59,887

- Municipal Government 6,331,655 6,115,006

- Other School Divisions 109,008 157,769

- First Nations 40,696 161,969

Accounts Receivable 150,018 127,498

Accrued Investment Income - -

4 Portfolio Investments 39,567 39,549

8,094,457 10,009,856

Liabilities

5 Overdraft 3,580,643 7,867,010

Accounts Payable 2,502,718 1,722,467

Accrued Liabilities 2,108,104 1,776,094

6 Employee Future Benefits 448,370 412,480

Accrued Interest Payable 359,203 383,677

Due to - Provincial Government - -

- Federal Government - -

- Municipal Government - -

- Other School Divisions - -

- First Nations - -

7 Deferred Revenue 139,059 89,479

9 Debenture Debt 16,799,903 16,936,553

10 Other Borrowings 3,957,472 1,869,988

School Generated Funds Liability 30,165 5,778

29,925,637 31,063,526

Net Debt (21,831,180) (21,053,670)

Non-Financial Assets

11 Net Tangible Capital Assets (TCA Schedule) 24,518,752 23,124,476

Inventories 415,314 541,672

Prepaid Expenses 1,789,947 2,123,349

26,724,013 25,789,497

12 Accumulated Surplus 4,892,833 4,735,827

See accompanying notes to the Financial Statements

CONSOLIDATED STATEMENT OF FINANCIAL POSITIONas at June 30

1


Notes 2015 2014

Revenue

Provincial Government 28,769,998 28,314,479

Federal Government 20,245 497,222

Municipal Government - Property Tax 10,431,053 9,963,001

- Other - -

Other School Divisions 433,820 503,197

First Nations 867,615 275,314

Private Organizations and Individuals 678,061 652,453

Other Sources 269,311 124,463

School Generated Funds 912,566 783,018

Other Special Purpose Funds - -

42,382,669 41,113,147

Expenses

Regular Instruction 21,957,752 21,135,228

Student Support Services 5,313,020 5,386,101

Adult Learning Centres - -

Community Education and Services 102,146 95,495

Divisional Administration 1,362,464 1,199,383

Instructional and Other Support Services 1,198,921 1,247,756

Transportation of Pupils 3,258,166 3,095,633

Operations and Maintenance 4,971,667 4,720,240

14 Fiscal - Interest 979,184 954,039

- Other 592,834 584,230

Amortization 1,613,551 1,406,248

Other Capital Items - -


Other Special Purpose Funds - -

42,197,072 40,606,419

Current Year Surplus (Deficit) before Non-vested Sick Leave 185,597 506,728

Less: Non-vested Sick Leave Expense (Recovery) 28,591 (31,357)

Net Current Year Surplus (Deficit) 157,006 538,085

Opening Accumulated Surplus 4,735,827 4,197,742

Adjustments: Tangible Cap. Assets and Accum. Amort. - -

Other than Tangible Cap. Assets - -

Non-vested sick leave - prior years - -

Opening Accumulated Surplus, as adjusted 4,735,827 4,197,742

Closing Accumulated Surplus 4,892,833 4,735,827

See accompanying notes to the Financial Statements

CONSOLIDATED STATEMENTOF REVENUE, EXPENSES

AND ACCUMULATED SURPLUSFor the Year Ended June 30

2

Mountain View School Division

2015 2014


Amortization of Tangible Capital Assets 1,613,551 1,406,248

Acquisition of Tangible Capital Assets (3,018,774) (3,588,150)

(Gain) / Loss on Disposal of Tangible Capital Assets (22,558) (36,461)

Proceeds on Disposal of Tangible Capital Assets 33,505 40,366

(1,394,276) (2,177,997)

Inventories (Increase)/Decrease 126,358 49,882

Prepaid Expenses (Increase)/Decrease 333,402 168,050

459,760 217,932

(Increase)/Decrease in Net Debt (777,510) (1,421,980)

Net Debt at Beginning of Year (21,053,670) (19,631,690)

Adjustments Other than Tangible Cap. Assets - -

(21,053,670) (19,631,690)

Net Debt at End of Year (21,831,180) (21,053,670)

13-Oct-15

CONSOLIDATED STATEMENT OF CHANGE IN NET DEBTFor the Year Ended June 30, 2015

3


CONSOLIDATED STATEMENT OF CASH FLOWFor the Year Ended June 30, 2015

2015 2014

Operating Transactions


Non-Cash Items Included in Current Year Surplus/(Deficit):

Amortization of Tangible Capital Assets 1,613,551 1,406,248

(Gain)/Loss on Disposal of Tangible Capital Assets (22,558) (36,461)

Employee Future Benefits Increase/(Decrease) 35,890 (14,023)

Due from Other Organizations (Increase)/Decrease 1,937,937 (2,263,173)

Accounts Receivable & Accrued Income (Increase)/Decrease (22,520) (11,276)

Inventories and Prepaid Expenses - (Increase)/Decrease 459,760 217,932

Due to Other Organizations Increase/(Decrease) - -

Accounts Payable & Accrued Liabilities Increase/(Decrease) 1,087,787 470,964

Deferred Revenue Increase/(Decrease) 49,580 (739,270)

School Generated Funds Liability Increase/(Decrease) 24,387 (7,935)

Adjustments Other than Tangible Cap. Assets - -

Cash Provided by (Applied to) Operating Transactions 5,320,820 (438,909)

Capital Transactions

Acquisition of Tangible Capital Assets (3,018,774) (3,588,150)

Proceeds on Disposal of Tangible Capital Assets 33,505 40,366

Cash Provided by (Applied to) Capital Transactions (2,985,269) (3,547,784)

Investing Transactions

Portfolio Investments (Increase)/Decrease (18) 669

Cash Provided by (Applied to) Investing Transactions (18) 669

Financing Transactions

Debenture Debt Increase/(Decrease) (136,650) 1,200,688

Other Borrowings Increase/(Decrease) 2,087,484 (220,008)

Cash Provided by (Applied to) Financing Transactions 1,950,834 980,680

Cash and Bank / Overdraft (Increase)/Decrease 4,286,367 (3,005,344)

Cash and Bank (Overdraft) at Beginning of Year (7,867,010) (4,861,666)

Cash and Bank (Overdraft) at End of Year (3,580,643) (7,867,010)

13-Oct-15

4

Mountain View School Division: 2014/2015 Financial Statements

CALCULATION OF ADMINISTRATION COSTS

AS A PERCENTAGE OF TOTAL EXPENSES

Administration Costs

Divisional Administration, Function 500 1,362,464

Curriculum Consulting & Development Administration, Program 605 20,655

Transportation Administration, Program 710 214,459

Operations & Maintenance Administration, Program 810 171,375

Sub-total 1,768,953

Less: Liability Insurance 16,930

Administration portion of self-funded expenses (see below) 0 *

1,752,023 (A)

Expense Base

Total Operating Expenses 38,906,923

Plus: Transfers to Capital 1,106,001

Less: Adult Learning Centres, Function 300 0

40,012,924 (B)

Percentage (A) / (B) 4.4%

Self-Funded Expenses (fully offset by incremental revenues):

International Student Programs

Expenses (1)

Instructional -

Administration (deducted above) - *

Other: -

-

0

Associated Revenue (2)-

Self-Administered Pension Plans

Expenses (1)


Other: -

-

0


(1) Incremental costs of the program.

(2) Tuition fees from international students or the pension plan administration fee.

13-Oct-15

29

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MOUNTAIN VIEW SCHOOL DIVISION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2015 1. Nature of Organization and Economic Dependence The School Division (Division) is a public body that provides education services to residents within its geographic location. The division is funded mainly by grants from the Province of Manitoba (Province), and a special levy on the property assessment included in the Division’s boundaries. The Division is exempt from income tax and is a registered charity under the Income Tax Act. The Division is economically dependent on the Province for the majority of its revenue and capital financing requirements. Without this funding, the Division would not be able to continue its operations. 2. Significant Accounting Policies The consolidated financial statements have been prepared by management in accordance with Canadian generally accepted accounting principles established by PSAB of the Canadian Institute of Chartered Accountants (CICA).

a) Reporting Entity and Consolidation

The consolidated financial statements reflect the assets, liabilities, revenues and expenses of the operating fund, capital fund, and special purpose fund of the Division. The Division reporting entity includes school generated funds. All inter-fund accounts and transactions are eliminated upon consolidation. b) Trust funds The Division administers various trust funds. Trust funds and their related operations are not included in the consolidated financial statements as they are not owned or controlled by the Division. A schedule of trust funds is attached as part of the notes to the consolidated financial statements. Trust funds, under PSAB are properties assigned to a trustee (school division) under a trust agreement or statute; the trustee merely administers the terms and conditions embodied in the agreement, and it has no unilateral authority to change the conditions set out in the trust indenture.

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c) Basis of Accounting Revenues and expenses are reported on the accrual basis of accounting except when the accruals cannot be determined with a reasonable degree of certainty or when their estimation is impracticable. The accrual basis of accounting recognizes revenues as they are earned and measurable; expenses are recognized as they are incurred and measurable as a result of the receipt of goods or services and the creation of a legal obligation to pay. Expenses also include the amortization of tangible capital assets. d) Fund Accounting The fund method of accounting is employed by the Division to record financial transactions in separate funds as defined by Financial Reporting and Accounting in Manitoba Education (FRAME) in accordance with the purpose for which the funds have been created. The Operating Fund is maintained to record all the day to day operating revenues and expenses. The Capital Fund is used to account for the acquisition, amortization, disposal and financing of capital assets. The Special Purpose Fund is used to account for school generated funds and charitable foundations controlled by the Division. e) School Generated Funds School generated funds are moneys raised by the school, or under the auspices of the school, through extra curricular activities for the sole use of the school that the principal of each school, subject to the rules of the school board, may raise, hold, administer and expend for the purposes of the school. Only revenue and expenses of school generated funds controlled by the Division are included in the Consolidated Statement of Revenue, Expenses and Accumulated Surplus. To be deemed as controlled, a school must have the unilateral authority to make the decisions as to when, how and on what the funds are to be spent. Period end cash balances of all school generated funds are included in the Consolidated Statement of Financial Position. The uncontrolled portion of this amount is reflected in the School Generated Funds Liability account. Examples of uncontrolled school generated funds are parent council funds, other parent group funds, student council funds and travel club funds. Revenues and expenses of uncontrolled school generated funds are not included in the consolidated financial statements.

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f) Tangible Capital Assets

Tangible capital assets are non-financial assets that are used by the Division to provide services to the public and have an economic life beyond one fiscal year. Tangible capital assets include land, buildings, buses, other vehicles, furniture and equipment, computers, capital leases, leasehold improvements, and assets under construction. To be classified as tangible capital assets, each asset other than land must individually meet the capitalization threshold for its class as prescribed by FRAME.

Asset Description Capitalization Threshold

Estimated Useful Life

Land N/A N/A

Land Improvements 25,000 10 years

Buildings - bricks, mortar and steel

$25,000 40 years

Buildings - wood frame $25,000 25 years

School buses $20,000 10 years

Vehicles $10,000 5 years

Equipment $10,000 5 years

Network Infrastructure $25,000 10 years

Computer Hardware, Servers & Peripherals

$5,000 4 years

Computer Software $10,000 4 years

Furniture & Fixtures $5,000 10 years

Leasehold Improvements $25,000 Over term of lease

Grouping of assets is not permitted except for computer work stations. With the exception of land, donated capital assets and capital leases, all tangible capital assets, are recorded at historical cost, which includes purchase price, installation costs and other costs incurred to put the asset into service. Buildings are recorded at historical cost when known. For buildings acquired prior to June 30, 2005 where the actual cost was not known, the replacement value for insurance purposes as at June 30, 2005 was regressed to the date of acquisition using a regression index based on Southam and CanaData construction cost indices.

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Capital leases are recorded at the present value of the minimum lease payments excluding executory costs (e.g. insurance, maintenance costs, etc.). The discount rate used to determine the present value of the lease payments is the lower of the Division’s rate for incremental borrowing or the interest rate implicit in the lease. Donated tangible capital assets are recorded at fair market value at the date of donation. Deferred revenue is recorded in an equivalent amount, for all donated assets except land. The deferred revenue will be recognized as revenue over the useful life of the related asset, on the same basis that the asset is amortized.

All land acquired prior to June 30, 2006 has been valued by the Crown Lands and Property Agency. All tangible capital assets, except for land, capital leases, and assets under construction, are amortized on a straight-line basis over their estimated useful lives as prescribed by FRAME. Land is not amortized. Capital leases with lease terms that have a bargain purchase option or allow ownership to pass to the Division are amortized over the useful life of the asset class. All other capital leases are amortized over the lesser of the lease term and the useful life of the asset class. One-half of the annual amortization is charged in the year of acquisition and in the year of disposal if not fully amortized. Assets under construction are not amortized until the date of substantial completion. Interest on funds used to finance school buildings under construction is capitalized for the periods preceding the date of substantial completion. g) Employee Future Benefits The Province of Manitoba pays the employer portion of the Teachers’ Retirement Allowances Fund (TRAF), the pension plan for all certified teachers of the Division. The Division does not contribute to TRAF, and no costs relating to this plan are included in the Division’s financial statements. The Division provides retirement benefits to its non-teaching employees. The Division adopted the following policy with respect to accounting for these employee future benefits:

(i) Defined contribution/ insured benefit plans

Under these plans, specific fixed amounts are contributed by the Division each period for services rendered by the employees.

For non-vesting accumulating sick days, the benefit costs are recognized, if deemed material, based on a projection of expected future utilization of sick time, discounted using net present value techniques.

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h) Capital Reserve Certain amounts, as approved by the Board of Trustees and the Public Schools Finance Board (PSFB), have been set aside in reserve accounts for future capital purposes. These Capital Reserve accounts are internally restricted funds that form part of the Accumulated Surplus presented in the Consolidated Statement of Financial Position. i) Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. j) Financial instruments

There are no significant terms and conditions related to financial instruments (cash, accounts receivable, investments, bank indebtedness, accounts payable and long-term debt) that may affect the amount, timing and certainty of future cash flows. The Division is exposed to credit risk from the potential non-payment of accounts receivable. However, the majority of the receivables are from local, provincial and federal governments, and therefore, the credit risk is minimal. The carrying amounts of the financial instruments approximate their carrying values, unless otherwise noted.

3. Conversion to PSAB

Commencing with the 2006/07 fiscal year, the Board has adopted generally accepted accounting principles established by PSAB. The following changes have been implemented to comply with the PSAB standard:

(i) Tangible capital assets were restated and amortized over their useful lives to

reflect net book value. Amortization of tangible capital assets and gain or loss on disposal of capital assets are recorded in the Statement of Revenue, Expenses and Accumulated Surplus.

(ii) The Operating Fund, Capital Fund and Special Purpose Fund are consolidated

in the financial statements. The Special Purpose Fund was created to include school generated funds and charitable foundations controlled by the Division.

(iii)The Employee Future Benefits Liability was established to account for the

Division’s commitment to pay vested future benefits to its employees.

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(iv)Accrued Interest Payable was established to account for accrual of interest on

Debenture Debt and Other Borrowings from the last payment date. An equal amount is set up as due from the Province to offset the accrued interest payable on debenture.

4. Other Investments Other investments consist mainly of long-term guaranteed investment certificates and credit union surplus shares. 5. Overdraft The Division has an authorized line of credit with the Royal Bank of Canada in the amount of $12,500,000 by way of overdrafts and is repayable on demand. Interest is paid monthly at prime less .75%. 6. Employee Future Benefits Employee future benefits are benefits earned by employees in the current period, but will not be paid out until future periods. The employee future benefit is the annual vacation earned by the twelve month non-teaching employees during the fiscal year. Typically this earned vacation entitlement is taken in the subsequent fiscal year. Non-vested accumulated sick leave benefits are measured using net present value techniques on the expected future utilization of excess of sick benefits used over earned per year, to maximum entitlement. The impact of the estimated non-vested sick leave benefit cost for 2014-2015 is an increase of the liability in the amount of $28,591.

8

The Division sponsors a defined contribution and defined benefits plan. The defined contribution plan is provided to non-teaching staff through MAST Pension Plan. Eligible employees contributed a percentage of their regular salary or wage. The percentage varies according to the age of the employee. The Division contributions equal the employee contributions to the plan. No pension liability is included in the financial statements other than late payment interest owing for the period. Long term disability benefits are covered by a defined contribution/ insured plan. The costs of salary compensation paid to employees on long-term disability leave are fully insured and are not included in the financial statements. Supplemental unemployment benefits are defined benefits that are recognized and recorded only in the period when the events occur (e.g. maternity top up). 7. Deferred Revenue The deferral method of accounting is used for revenues received that, pursuant to legislation, regulation or agreement, may only be used for specific purposes. These amounts are recognized as revenue in the fiscal year the related expenses are incurred or services performed. The following is a breakdown of the account balance:

Revenue

Balance as at Additions recognized Balance as at

June 30, 2014 in the period in the period June 30, 2015

Property Tax Credit - 30,790 - 30,790

International Education Revenue 20,070 12,270 20,070 12,270

Playground donations 69,409 36,249 9,659 95,999

$ 89,479 $ 79,309 $ 29,729 $ 139,059

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8. School Generated Funds Liability School Generated Funds Liability includes the non-controlled portion of school generated funds consolidated in the cash and bank balances in the amount of $30,165.

2015

Parent council funds $ -

Other parent group funds -

Students council funds 30,165

Travel club funds -

$ 30,165

As a transition measure in the implementation of the new accounting policies, school generated funds revenue and expenses reported in the Consolidated Statement of Revenue, Expenses and Accumulated Surplus as at June 30, 2015 covers a period of twelve months from April 1, 2014 to March 31, 2015. 9. Debenture Debt The debenture debt of the Division is in the form of twenty-year debentures payable, principal and interest, in twenty equal yearly installments and maturing at various dates from 2016 to 2035. Payment of principal and interest is funded entirely by grants from the Province of Manitoba, except for the debenture debt on self-funded capital projects. The debentures carry interest rates that range from 3.375% to 10.00%. The debenture principal and interest repayments in the next five years are:

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10. Other Borrowings Other borrowings are debts other than overdrafts or debentures: On May 8, 2012 Mountain View School Division entered into a loan agreement for $2,200,000 with the Royal Bank of Canada to finance the broadband internet project. The funds were advanced December 17, 2012. The term of the loan is 120 equal principal payments of $18,334 plus interest at a rate of prime minus 0.75%. On December 4, 2014 Mountain View School Division entered into a loan agreement for $2,400,000 with the Royal Bank of Canada to finance the telecom and fire alarm projects. The term of the loan is 144 fixed payments of $19,587 with an interest rate of prime minus 0.75%.

2014 2015

Connectivity Loan 1,869,988$ 1,649,980$

Telecom/Fire alarm 2,307,492$

1,869,988$ 3,957,472$

Future payments

Principal

2016 411,764$

2017 415,537$

2018 419,384$

2019 423,306$

2020 427,306$

Until Maturity 1,860,175$

3,957,472$

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11. Net Tangible Capital Assets The Schedule of Tangible Capital Assets (TCA), page 23 of the audited financial statements, provides a breakdown of cost, accumulated amortization and net book value by class. The amount of interest capitalized in the period included in Assets under Construction was $0 (previous year $0).

Accumulated 2015 Net

Gross Amount Amortization Book Value Owned-tangible capital assets $ 60,512,625 $ 35,993,873 $ 24,518,752

Capital lease - -

$ 60,512,625 $ 35,993,873 $ 24,518,752

12. Accumulated Surplus The consolidated accumulated surplus is comprised of the following:

2015

Operating Fund

Designated Surplus -

Undesignated Surplus 1,488,299

Non-vested sick leave (220,095)

1,268,204

Capital Fund

Reserve Accounts 288,840

Equity in Tangible Capital Assets 2,897,751

3,186,591

Special Purpose Fund

School Generated Funds 438,038

Other Special Purpose Funds -

438,038

Total Accumulated Surplus $ 4,892,833

Designated Surplus under the Operating Fund represents internally restricted amounts appropriated by the board or, in the case of school budget carryovers, by board policy. Reserve Accounts under the Capital Fund represents internally restricted reserves for specific purposes approved by the Board of Trustees and PSFB. A Schedule of Capital Reserve Accounts is provided on page 24 of the audited financial statements.

2015

Bus reserves $ 67,470

Other reserves 221,370

Capital Reserve $ 288,840

School Generated Funds and Other Special Purpose Funds are externally restricted moneys for school and restricted for school use.

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13. Municipal Government – Property Tax and related Due from Municipal

Government Education property tax or Special Levy is raised as the Division’s contribution to the cost of providing public education for the students resident in the division. The Municipal Government-Property Tax shown on the consolidated revenue and expense statement is raised over the two calendar (tax) years; 40% from 2014 tax year and 60% from 2015 tax year. Below are the related revenue and receivable amounts:

14. Interest Received and Paid The Division received interest during the year of $1,123 (previous year $692); interest paid during the year was $979,184 (previous year $954,039). Interest expense is included in Fiscal and is comprised of the following:

2015

Operating Fund

Fiscal-short term loan, interest and bank charges $ 117,788

Interest on long-term debt 32,165

Capital Fund Debenture debt interest Other interest

798,595 30,636

$ 979,184

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15. Expenses by object Expenses in the consolidated statement of revenue, expenses and accumulated surplus are reported by function as defined by FRAME. Below is the detail of expenses by object:

Actual Budget Actual

2015 2015 2014

Salaries $ 28,024,672 $ 27,889,065 $ 27,284,945

Employees benefits & allowances 2,716,597 2,853,323 2,608,102

Services 3,887,452 3,670,682 3,641,888 Supplies, materials & minor equipment 3,532,514 3,802,073 3,339,517

Interest 979,184 120,000 954,039

Bad debts - - -

Payroll tax and transfers 595,735 591,105 589,614

Amortization 1,613,551 - 1,406,248

Other capital items - - -

School generated funds 847,367 - 782,066

Other special purpose funds - - -

$ 42,197,072 $ 38,926,248 $ 40,606,419

16. Contractual Obligations High Speed Connectivity Agreement The Division has entered into a long term agreement with Manitoba Telephone System Inc. to provide high speed internet and wide area network connectivity for all community schools. The term of the agreement is ten years commencing July 1, 2014 with a one-time cost of $2,298,275. The agreement provides for fiber optic connectivity to the administration office, Barker School, DRCSS, Ethelbert School, Gilbert Plains Elementary and Collegiate, Goose Lake High, Grandview School, Roblin Elementary School, Winnipegosis Elementary and Collegiate. All remaining sites will receive high speed service through copper cable access. 17. Contingent Liabilities There have been no legal actions initiated against the Division. 18. Adoption of New Accounting Policy

Effective July 1, 2014, the division has adopted the new Public Sector Accounting Board accounting standard - Liability for Contaminated Sites, Section PS3260. The standard was applied on a retroactive basis to July 1, 2013 and did not result in any adjustments to financial liabilities, tangible capital assets or accumulated surplus of the school division.


Operating Fund Accumulated Surplus (Deficit) 1,268,204

Equity in Tangible Capital Assets 2,897,751

Capital Reserve Accounts 288,840

School Generated Funds 438,038

Other Special Purpose Funds 0

Consolidated Accumulated Surplus 4,892,833

Operating Fund Accumulated Surplus Comprised of:

Designated Surplus *

DescriptionUnexpended

Amount

Total Designated Surplus 0

Undesignated Surplus (Deficit) 1,488,300

Operating Fund Accumulated Surplus (Deficit) Gross of Non-vested sick leave 1,488,300

Less: Non-vested sick leave to date 220,096

Operating Fund Accumulated Surplus (Deficit) Net of Non-vested sick leave 1,268,204

Operating Fund Accumulated Surplus as a % of Operating Expenses ** 3.8%

*

**

ANALYSIS OF CONSOLIDATED ACCUMULATED SURPLUSas at June 30, 2015

Board Motion No.

Gross of Non-vested sick leave.

Includes all Board-approved surplus designations by Board Motion or, in the case of school budget carryovers, by Board policy.

5


OPERATING FUND SCHEDULE OF FINANCIAL POSITIONas at June 30

2015 2014

Financial Assets

Cash and Bank - -

Due from - Provincial Government 1,051,044 3,011,338

- Federal Government 59,150 59,887

- Municipal Government 6,331,655 6,115,006

- Other School Divisions 109,008 157,769

- First Nations 40,696 161,969

- Other Funds 2,374,666 3,535,676

Accounts Receivable 150,018 127,498


Portfolio Investments - -

10,116,237 13,169,143

Liabilities

Overdraft 4,009,279 8,206,078

Accounts Payable 2,502,718 1,722,467

Accrued Liabilities 2,108,104 1,776,094

Employee Future Benefits 448,370 412,480





- Other School Divisions - -

- First Nations - -

- Capital Fund 288,840 353,335

Deferred Revenue 43,060 20,070

Other Borrowings 1,649,980 1,869,988

11,053,294 14,363,970

Net Financial Assets (Net Debt) (937,057) (1,194,827)


Inventories 415,314 541,672

Prepaid Expenses 1,789,947 2,123,349

2,205,261 2,665,021

Accumulated Surplus (Deficit) 1,268,204 1,470,194

6


OPERATING FUNDSCHEDULE OF REVENUE, EXPENSES


2015 2015 2014Actual Budget Actual

Revenue

Provincial Government - Core 27,115,560 26,992,126 26,734,338

Federal Government 20,245 528,510 497,222

Municipal Government - Property Tax 10,431,053 10,631,474 9,963,001

- Other - - -

Other School Divisions 433,820 478,050 503,197

First Nations 867,615 336,400 275,314

Private Organizations and Individuals 678,061 545,640 652,453

Other Sources 237,094 227,020 88,002

39,783,448 39,739,220 38,713,527

Expenses

Regular Instruction 21,957,752 21,930,726 21,135,228

Student Support Services 5,313,020 5,582,784 5,386,101

Adult Learning Centres - - -

Community Education and Services 102,146 116,872 95,495

Divisional Administration 1,362,464 1,317,772 1,199,383

Instructional and Other Support Services 1,198,921 1,297,268 1,247,756

Transportation of Pupils 3,258,166 3,051,340 3,095,633

Operations and Maintenance 4,971,667 4,925,881 4,720,240

Fiscal 742,787 703,605 725,423

38,906,923 38,926,248 37,605,259

Current Year Surplus (Deficit) before Non-vested Sick Leave 876,525 812,972 1,108,268

Less: Non-vested Sick Leave Expense (Recovery) 28,591 (31,357)

Current Year Surplus (Deficit) after Non-vested Sick Leave 847,934 812,972 1,139,625

Net Transfers from (to) Capital Fund (1,049,924) (812,972) (589,908)

Transfers from Special Purpose Funds - -

Net Current Year Surplus (Deficit) (201,990) 0 549,717

Opening Accumulated Surplus (Deficit) 1,470,194 920,477

Adjustments: Liabilty for Contaminated Sites - -

- -

- -

Opening Accumulated Surplus (Deficit), as adjusted 1,470,194 920,477

Closing Accumulated Surplus (Deficit) 1,268,204 1,470,194

Non-vested sick leave - prior years

7


OPERATING FUND - REVENUE DETAILPROVINCE OF MANITOBA

For the Year Ended June 30, 2015

Funding of Schools Program

Base Support Instructional Support 5,711,628

Additional Instructional Support for Small Schools -

Sparsity 570,178

Curricular Materials 177,840

Information Technology 177,840

Library Services 272,688

Student Services 1,015,292

Counselling and Guidance 246,012

Professional Development 136,344

Physical Education 66,125

Occupancy 2,311,920 10,685,867

Categorical Support Transportation 1,656,879

Board and Room -

Special Needs: Coordinator/Clinician 302,328

Special Needs: Level 2 698,876

Special Needs: Level 3 389,785

Senior Years Technology Education 197,450

English as an Additional Language 17,350

Aboriginal Academic Achievement (including BSSAP) 215,000

Aboriginal and International Languages 10,465

French Language Education 71,673

Small Schools 114,821

Enrolment Change Support -

Northern Allowance -

Early Childhood Development Initiative 43,547

Early Literacy Intervention 189,633

Numeracy 31,391

Middle Years Life/Work Exploration 8,360

Education for Sustainable Development 11,200 3,958,758

Equalization 6,264,599

Additional Equalization 719,357

Adjustment for Days Closed -

Formula Guarantee -

Other Program Support School Buildings Support: "D" Projects 164,340

Technology Education Equipment Replacement 131,600

Skills Strategy Equipment Enhancement 47,372

Other Minor Capital Support -

Prior Year Support

Finalization of Previous Year Support -

Curricular Materials -

School Buildings Support: "D" Projects -

Technology Education Equipment - 343,312

21,971,893

8


OPERATING FUND - REVENUE DETAILPROVINCE OF MANITOBA (CONT'D)


Other Department of Education and Advanced Learning

Non-Resident -

Special Needs -

Institutional Programs -

Nursing Supports (URIS) 19,315

Substitute Fees 3,060

General Support Grant 589,698

Education Property Tax Credit 3,548,324

Tax Incentive Grant 690,312

Smaller Classes Initiative (K - 3) 105,973

Community Schools -

Healthy Schools Initiative 11,629

Learning to Age 18 Coordinator 20,000

Quality Education Initiative Fund 14,823

Career Development Fund 17,760

Other: Other 7,765

MB Healthy Child 61,500

Exam marking 6,708

French Revitalization Grant 46,800

5,143,667

Other Provincial Government Departments (Not including GBE's)

Employment Programs -

Adult Learning Centres -

Other: -

0

Funding of Schools Program (previous page) 21,971,893

TOTAL PROVINCIAL GOVERNMENT REVENUE 27,115,560

9


OPERATING FUND - REVENUE DETAILNON-PROVINCIAL GOVERNMENT SOURCES


Federal GovernmentTuition FeesTransportation of PupilsFrench Language Monitor 20,245 English as an Additional Language (Adults) - Other: -

20,245

Municipal GovernmentSpecial Requirement 14,669,689 Less: Education Property Tax Credit (3,548,324)Less: Tax Incentive Grant (690,312) 10,431,053Other: - 10,431,053

Other School DivisionsTuition FeesTransfer Fees 40,580 Residual Fees 220,231 Transportation of Pupils 173,009 Other:

- 433,820

First NationsTuition Fees 853,504 Transportation of Pupils 14,111 Other: -

867,615

Private Organizations and Individuals (Includes GBE's)Regular Tuition 30,000 International Tuition 350,207 Continuing EducationOther Tuition: - Food Service 161,150 Government Business Enterprises (GBE's) - Other: 37,026

30,425 62,623 3,150 3,480

678,061

Other SourcesInterest 1,123 Donations - Other: 25,472

47,187 156,886

6,426

237,094

TOTAL NON-PROVINCIAL GOVERNMENT REVENUE 12,667,888

Maintenance RecoveriesAdmin Recoveries

Tech Ed RecoveriesInternational Ed Recoveries

Rentals Band Program

Community Use of SchoolsTransportation Recoveries

Regular Instruction Recoveries

Exceptional recoveries

10


FUNCTION 100 200 300 400 500 600 700 800 900

Instructional

Student Adult Education and Other Operations 2015 2014

Regular Support Learning and Divisional Support Transportation and

OBJECT Instruction Services Centres Services Administration Services of Pupils Maintenance Fiscal TOTALS TOTALS

Salaries 18,099,385 4,676,736 - 650 924,764 660,826 1,765,828 1,896,483 28,024,672 27,284,945

Employees Benefits and Allowances 1,538,296 467,037 - - 107,753 72,583 247,248 283,680 2,716,597 2,608,102

Services 804,225 92,110 - 80,942 292,928 256,155 220,377 2,140,715 3,887,452 3,641,888

Supplies, Materials and Minor Equipment 1,515,846 77,137 - 20,554 37,019 206,456 1,024,713 650,789 3,532,514 3,339,517

Interest and Bank Charges 149,953 149,953 141,193

Bad Debt Expense - 0 0

11 (PAYROLL TAX)

Transfers - - - - - 2,901 - - 592,834 595,735 589,614

TOTALS 21,957,752 5,313,020 0 102,146 1,362,464 1,198,921 3,258,166 4,971,667 742,787 38,906,923 37,605,259

OPERATING FUND - EXPENSE BY FUNCTION AND BY OBJECTFor the Year Ended June 30

Mountain View School Division OPERATING FUND - EXPENSE DETAIL: FUNCTION 100 13-Oct-15


10 SINGLE TRACK SCHOOLS * 80 90 20 50 70 SENIOR YEARS

ENGLISH FRENCH DUAL TRACK TECHNOLOGYCODE OBJECT \ PROGRAM ADMINISTRATION LANGUAGE FRANÇAIS IMMERSION SCHOOLS ** EDUCATION TOTALS 3XX SALARIES 320 Executive, Managerial and Supervisory 1,752,720 1,752,720 330 Instructional - Teaching 11,955,900 923,142 1,435,071 515,588 14,829,701 350 Instructional - Other 476,111 476,111 360 Technical, Specialized and Service 102,069 19,250 121,319 370 Secretarial, Clerical and Other 617,823 617,823 390 Information Technology 301,711 301,711 Total Salaries 2,672,254 12,534,080 0 942,392 1,435,071 515,588 18,099,385 4XX EMPLOYEES BENEFITS AND ALLOWANCES 215,355 1,167,662 52,016 76,981 26,282 1,538,296 5-6XX SERVICES 510 Professional, Technical and Specialized 2,643 34,478 37,121 520 Communications 59,513 11,253 70,766 540 Travel and Meetings 171,853 237 172,090 560 Tuition 37,237 37,237 570 Printing and Binding 0 580 Insurance and Bond Premiums 0 590 Maintenance and Repair Services 51,996 6,902 351 865 60,114 610 Rentals 46,932 3,672 50,604 630 Advertising 464 8,136 8,600 640 Dues and Fees 10 7,860 7,870 650 Professional and Staff Development 14,910 14,910 680 Information Technology Services 798 343,994 121 344,913 Total Services 174,623 593,550 0 358 351 35,343 804,225 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 23,611 324,934 21,399 37,985 72,779 480,708 740 Curricular and Media Materials 1,201 117,243 15,243 5,165 58 138,910 760 Minor Equipment 6,295 401,910 16,204 8,002 105,640 538,051 780 Information Technology Equipment 3,490 330,601 11,582 12,504 358,177 Total Supplies, Materials and Minor Equipment 34,597 1,174,688 0 52,846 62,734 190,981 1,515,846 96X-99 TRANSFERS 960 School Divisions 0 980 Organizations and Individuals 0 Total Transfers 0 0 0 0 0 0 0

TOTALS 3,096,829 15,469,980 0 1,047,612 1,575,137 768,194 21,957,752 * 90% or more of enrolment is in one of the following instructional programs: English Language, Français, French Immersion. ** includes multi-track schools.

REGULAR INSTRUCTION

12



10 30 40 50 60 70

CLINICAL ANDADMINISTRATION RELATED SPECIAL REGULAR RESOURCE COUNSELLING

CODE OBJECT \ PROGRAM /CO-ORDINATION SERVICES PLACEMENT PLACEMENT SERVICES AND GUIDANCE TOTALS 3XX SALARIES 320 Executive, Managerial and Supervisory 91,245 91,245 330 Instructional - Teaching 87,617 176,669 700,765 810,340 1,775,391 350 Instructional - Other 262,580 1,108,072 809,515 2,180,167 360 Technical, Specialized and Service 130,657 130,657 370 Secretarial, Clerical and Other 21,362 21,362 380 Clinician 477,914 477,914 390 Information Technology 0 Total Salaries 112,607 477,914 350,197 1,284,741 1,510,280 940,997 4,676,736 4XX EMPLOYEES BENEFITS AND ALLOWANCES 6,538 24,222 45,928 174,731 157,699 57,919 467,037 5-6XX SERVICES 510 Professional, Technical and Specialized 5,125 39,057 44,182 520 Communications 1,992 1,892 1,351 5,235 540 Travel and Meetings 3,565 13,940 4,910 541 16,200 39,156 560 Tuition 0 570 Printing and Binding 0 580 Insurance and Bond Premiums 0 590 Maintenance and Repair Services 0 610 Rentals 132 132 630 Advertising 0 640 Dues and Fees 250 3,155 3,405 650 Professional and Staff Development 0 680 Information Technology Services 0 Total Services 5,807 24,112 0 44,099 541 17,551 92,110 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 1,841 4,458 2,419 10,010 5,103 23,831 740 Curricular and Media Materials 28 10,574 18,015 933 9,896 39,446 760 Minor Equipment 630 2,216 2,101 4,947 780 Information Technology Equipment 1,530 1,314 6,009 60 8,913 Total Supplies, Materials and Minor Equipment 3,399 16,976 4,635 36,135 933 15,059 77,137 96X-99 TRANSFERS 960 School Divisions 0 980 Organizations and Individuals 0 Total Transfers 0 0 0 0 0

TOTALS 128,351 543,224 400,760 1,539,706 1,669,453 1,031,526 5,313,020

STUDENT SUPPORT SERVICES

13



10 20ADMINISTRATION

CODE OBJECT \ PROGRAM AND OTHER INSTRUCTION TOTALS 3XX SALARIES 320 Executive, Managerial and Supervisory 0 330 Instructional - Teaching 0 350 Instructional - Other 0 360 Technical, Specialized and Service 0 370 Secretarial, Clerical and Other 0 390 Information Technology 0 Total Salaries 0 0 0 4XX EMPLOYEES BENEFITS AND ALLOWANCES 0 5-6XX SERVICES 510 Professional, Technical and Specialized 0 520 Communications 0 530 Utility Services 0 540 Travel and Meetings 0 560 Tuition 0 570 Printing and Binding 0 580 Insurance and Bond Premiums 0 590 Maintenance and Repair Services 0 610 Rentals 0 620 Property Taxes 0 630 Advertising 0 640 Dues and Fees 0 650 Professional and Staff Development 0 680 Information Technology Services 0 Total Services 0 0 0 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 0 740 Curricular and Media Materials 0 760 Minor Equipment 0 780 Information Technology Equipment 0 Total Supplies, Materials and Minor Equipment 0 0 0 96X-99 TRANSFERS 960 School Divisions 0 980 Organizations and Individuals 0 999 Recharge 0 Total Transfers 0 0 0

TOTALS 0 0 0

ADULT LEARNING CENTRES

14

Mountain View School Division OPERATING FUND - EXPENSE DETAIL: FUNCTION 400For the Year Ended June 30, 2015

10 20 30 40ENGLISH AS AN COMMUNITY

CONTINUING ADDITIONAL LANGUAGE SERVICES AND PRE-KINDERGARTENCODE OBJECT \ PROGRAM EDUCATION FOR ADULTS RECREATION EDUCATION TOTALS 3XX SALARIES 320 Executive, Managerial and Supervisory 628 628 330 Instructional - Teaching 22 22 350 Instructional - Other 0 360 Technical, Specialized and Service 0 370 Secretarial, Clerical and Other 0 380 Clinician 0 390 Information Technology 0 Total Salaries 0 0 0 650 650 4XX EMPLOYEES BENEFITS AND ALLOWANCES 0 5-6XX SERVICES 510 Professional, Technical and Specialized 78,361 78,361 520 Communications 0 540 Travel and Meetings 1,569 1,569 570 Printing and Binding 0 580 Insurance and Bond Premiums 0 590 Maintenance and Repair Services 0 610 Rentals 0 630 Advertising 1,012 1,012 640 Dues and Fees 0 650 Professional and Staff Development 0 680 Information Technology Services 0 Total Services 0 0 0 80,942 80,942 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 12,390 12,390 740 Curricular and Media Materials 8,164 8,164 760 Minor Equipment 0 780 Information Technology Equipment 0 Total Supplies, Materials and Minor Equipment 0 0 0 20,554 20,554 96X-99 TRANSFERS 980 Organizations and Individuals 0 999 Recharge 0 Total Transfers 0 0 0 0 0

TOTALS 0 0 0 102,146 102,146

15

COMMUNITY EDUCATION AND SERVICES



10 20 30 50INSTRUCTIONAL BUSINESS AND MANAGEMENT

BOARD OF MANAGEMENT & ADMINISTRATIVE INFORMATIONCODE OBJECT \ PROGRAM TRUSTEES ADMINISTRATION SERVICES SERVICES TOTALS 3XX SALARIES 310 Trustees Remuneration 99,901 99,901 320 Executive, Managerial and Supervisory 297,918 246,458 544,376 360 Technical, Specialized and Service 197,664 197,664 370 Secretarial, Clerical and Other 61,837 20,986 82,823 390 Information Technology 0 Total Salaries 99,901 359,755 465,108 0 924,764 4XX EMPLOYEES BENEFITS AND ALLOWANCES 1,770 33,432 72,551 107,753 5-6XX SERVICES 510 Professional, Technical and Specialized 31,958 31,958 520 Communications 562 3,215 19,601 23,378 540 Travel and Meetings 52,166 15,301 10,912 78,379 570 Printing and Binding 0 580 Insurance and Bond Premiums 96 16,930 17,026 590 Maintenance and Repair Services 6,420 6,420 610 Rentals 4,921 4,921 630 Advertising 2,434 43,008 2,659 48,101 640 Dues and Fees 47,720 4,996 1,442 54,158 650 Professional and Staff Development 1,060 1,060 680 Information Technology Services 1,501 3,664 22,362 27,527 Total Services 102,978 68,021 99,567 22,362 292,928 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 1,215 4,684 23,820 29,719 740 Curricular and Media Materials 241 2,715 2,956 760 Minor Equipment 317 2,344 2,661 780 Information Technology Equipment 1,339 344 1,683 Total Supplies, Materials and Minor Equipment 1,456 9,055 26,508 0 37,019 96X-99 TRANSFERS 960 School Divisions 0 980 Organizations and Individuals 0 999 Recharge 0 Total Transfers 0 0 0 0

TOTALS 206,105 470,263 663,734 22,362 1,362,464

DIVISIONAL ADMINISTRATION

16



05 10 20 30 80CURRICULUM

CONSULTING & CURRICULUM LIBRARY / PROFESSIONALDEVELOPMENT CONSULTING & MEDIA AND STAFF

CODE OBJECT \ PROGRAM ADMINISTRATION DEVELOPMENT CENTRE DEVELOPMENT OTHER TOTALS 3XX SALARIES 320 Executive, Managerial and Supervisory 19,596 91,017 64,454 175,067 330 Instructional - Teaching 87,375 87,375 350 Instructional - Other 275,056 275,056 360 Technical, Specialized and Service 96,617 96,617 370 Secretarial, Clerical and Other 26,711 26,711 390 Information Technology 0 Total Salaries 19,596 117,728 362,431 64,454 96,617 660,826 4XX EMPLOYEES BENEFITS AND ALLOWANCES 1,059 10,398 47,524 13,602 72,583 5-6XX SERVICES 510 Professional, Technical and Specialized 16,349 16,349 520 Communications 550 550 540 Travel and Meetings 1,295 1,155 6,000 8,450 560 Tuition 0 570 Printing and Binding 0 580 Insurance and Bond Premiums 0 590 Maintenance and Repair Services 0 610 Rentals 427 427 630 Advertising 0 640 Dues and Fees 3,406 3,406 650 Professional and Staff Development 187,662 187,662 680 Information Technology Services 39,311 39,311 Total Services 0 1,845 44,299 187,662 22,349 256,155 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 15,247 2,457 130,265 147,969 740 Curricular and Media Materials 36 57,139 57,175 760 Minor Equipment 317 403 720 780 Information Technology Equipment 592 592 Total Supplies, Materials and Minor Equipment 0 353 73,381 2,457 130,265 206,456 96X-99 TRANSFERS 960 School Divisions 0 980 Organizations and Individuals 2,901 2,901 Total Transfers 2,901 2,901

TOTALS 20,655 130,324 527,635 254,573 265,734 1,198,921

17

INSTRUCTIONAL AND OTHER SUPPORT SERVICES



10 20 70 80 90ALLOWANCES BOARDING OF FIELD TRIPS

IN LIEU OF STUDENTS/ ANDCODE OBJECT \ PROGRAM ADMINISTRATION REGULAR TRANSPORTATION DORMITORIES OTHER TOTALS 3XX SALARIES 320 Executive, Managerial and Supervisory 103,411 103,411 350 Instructional - Other 0 360 Technical, Specialized and Service 1,425,347 160,852 1,586,199 370 Secretarial, Clerical and Other 76,218 76,218 390 Information Technology 0 Total Salaries 179,629 1,425,347 0 160,852 1,765,828 4XX EMPLOYEES BENEFITS AND ALLOWANCES 27,124 208,638 11,486 247,248 5-6XX SERVICES 510 Professional, Technical and Specialized 21,304 21,304 520 Communications 4,242 4,657 8,899 540 Travel and Meetings 486 7,555 51,557 59,598 550 Transportation of Pupils 5,827 5,827 570 Printing and Binding 0 580 Insurance and Bond Premiums 55,741 55,741 590 Maintenance and Repair Services 31,370 31,370 610 Rentals 5,977 5,977 630 Advertising 1,311 1,311 640 Dues and Fees 686 500 1,186 650 Professional and Staff Development 2,292 14,129 16,421 680 Information Technology Services 12,743 12,743 Total Services 7,706 155,287 5,827 0 51,557 220,377 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 996,266 996,266 740 Curricular and Media Materials 0 760 Minor Equipment 24,163 24,163 780 Information Technology Equipment 4,284 4,284 Total Supplies, Materials and Minor Equipment 0 1,024,713 0 0 1,024,713 96X-99 TRANSFERS 960 School Divisions 0 980 Organizations and Individuals 0 999 Recharge 0 Total Transfers 0 0 0 0 0 0

TOTALS 214,459 2,813,985 5,827 0 223,895 3,258,166

TRANSPORTATION OF PUPILS

18



10 20 50 70 80SCHOOL

SCHOOL BUILDINGSBUILDINGS REPAIRS AND OTHER

CODE OBJECT \ PROGRAM ADMINISTRATION MAINTENANCE REPLACEMENTS BUILDINGS GROUNDS TOTALS 3XX SALARIES 320 Executive, Managerial and Supervisory 113,290 113,290 360 Technical, Specialized and Service 1,732,845 17,794 1,750,639 370 Secretarial, Clerical and Other 32,554 32,554 390 Information Technology 0 Total Salaries 145,844 1,732,845 0 17,794 0 1,896,483 4XX EMPLOYEES BENEFITS AND ALLOWANCES 21,043 261,790 847 283,680 5-6XX SERVICES 510 Professional, Technical and Specialized 351,052 175,646 36,324 57,381 620,403 520 Communications 1,614 4,016 5,630 530 Utility Services 1,016,465 64,140 1,080,605 540 Travel and Meetings 635 6,956 7,591 570 Printing and Binding 0 580 Insurance and Bond Premiums 279,899 279,899 590 Maintenance and Repair Services 12,849 666 1,135 14,650 610 Rentals 1,524 436 1,960 620 Property Taxes 40,204 71,281 111,485 630 Advertising 939 453 1,392 640 Dues and Fees 686 686 650 Professional and Staff Development 1,553 6,252 7,805 680 Information Technology Services 8,609 8,609 Total Services 4,488 1,728,765 175,646 172,411 59,405 2,140,715 7XX SUPPLIES, MATERIALS AND MINOR EQUIPMENT 710 Supplies 430,706 138,576 17,588 4,310 591,180 740 Curricular and Media Materials 0 760 Minor Equipment 43,745 15,864 59,609 780 Information Technology Equipment 0 Total Supplies, Materials and Minor Equipment 0 474,451 138,576 17,588 20,174 650,789 96X-99 TRANSFERS 999 Recharge 0

TOTALS 171,375 4,197,851 314,222 208,640 79,579 4,971,667

OPERATIONS AND MAINTENANCE

19


OPERATING FUND - DETAIL OF TRANSFERSTO (FROM) CAPITAL FUND


Transfers To Capital Fund

Category "D" School Buildings 239,288

Bus Reserve 405,000

Bus Purchases -

Other Vehicles 73,013

Furniture/Fixtures & Equipment 65,229

Computer Hardware & Software -

Assets Under Construction -

Other: Admin Facility payment 145,971

DRCSS Gymnasium reserve 100,000

BYOD/CYOD Reserve 10,000

Bus Security Cameras reserve 67,500

1,106,001

Less: Transfers From Capital Fund

Vehicles sold 27,105

Final payment on DRCSS tech ed project 34

Vendor credits on fire alarms 28,938

56,077

Net Transfers To (From) Capital Fund 1,049,924

20


CAPITAL FUND SCHEDULE OF FINANCIAL POSITIONas at June 30

2015 2014

Financial Assets

Cash and Bank - -

Due from - Provincial Government 313,319 336,840



- First Nations - -

- Other Funds 288,840 353,335

Accounts Receivable - -


Portfolio Investments - -

602,159 690,175

Liabilities

Overdraft - -

Accounts Payable - -

Accrued Liabilities - -





- First Nations - -

- Operating Fund 2,374,666 3,535,676

Deferred Revenue 95,999 69,409

Debenture Debt 16,799,903 16,936,553

Other Borrowings 2,307,492 -

21,934,320 20,921,857

Net Debt (21,332,161) (20,231,682)


Net Tangible Capital Assets 24,518,752 23,124,476

Accumulated Surplus / Equity * 3,186,591 2,892,794

* Comprised of:

Reserve Accounts 288,840 353,335

Equity in Tangible Capital Assets 2,897,751 2,539,459

3,186,591 2,892,794

21


CAPITAL FUNDSCHEDULE OF REVENUE, EXPENSES


2015 2014

Revenue

Provincial Government

Grants 35 144

Debt Servicing - Principal 923,126 838,304

- Interest 731,277 741,693

Federal Government - -

Municipal Government - -

Other Sources:

Investment Income - -

Donations 9,659 -

MB Hydro grant - -

Gain / (Loss) on Disposal of Capital Assets 22,558 36,461

Gain on receipt of Modular classroom - -

-

- - -

1,686,655 1,616,602

Expenses

Amortization 1,613,551 1,406,248

Debenture Debt Interest 798,595 812,846

Other Interest 30,636 -

Other Capital Items - -

2,442,782 2,219,094

Current Year Surplus / (Deficit) (756,127) (602,492)

Net Transfers from (to) Operating Fund 1,049,924 589,908

Transfers from Special Purpose Fund - -

Net Current Year Surplus (Deficit) 293,797 (12,584)

Opening Accumulated Surplus / Equity 2,892,794 2,905,378

Adjustments: - -

- -

Opening Accumulated Surplus / Equity as adjusted 2,892,794 2,905,378

Closing Accumulated Surplus / Equity 3,186,591 2,892,794

22


SCHEDULE OF TANGIBLE CAPITAL ASSETSat June 30, 2015

Furniture / Computer Assets 2015 2014

School Other Fixtures & Hardware & Land Under TOTALS TOTALS

School Non-School Buses Vehicles Equipment Software * Land Improvements Construction

Tangible Capital Asset Cost

Opening Cost, as previously reported 41,483,757 2,626,963 5,564,269 543,651 2,332,382 347,103 570,392 276,659 4,313,572 58,058,748 54,975,402

Adjustments - - - - - - - - - - -

Opening Cost adjusted 41,483,757 2,626,963 5,564,269 543,651 2,332,382 347,103 570,392 276,659 4,313,572 58,058,748 54,975,402

Add:Additions during the year

Less:Disposals and write downs

Closing Cost 44,630,608 4,900,466 5,483,139 555,162 2,434,620 347,103 570,392 276,659 1,314,476 60,512,625 58,058,748

Accumulated Amortization

Opening, as previously reported 27,185,764 1,079,946 3,719,134 373,368 2,242,600 255,869 77,591 34,934,272 34,028,923

Adjustments - - - - - - - - -

Opening adjusted 27,185,764 1,079,946 3,719,134 373,368 2,242,600 255,869 77,591 34,934,272 34,028,923

Add:Current period Amortization

Less:Accumulated Amortizationon Disposals and Writedowns

Closing Accumulated Amortization 28,093,209 1,286,097 3,583,689 379,904 2,266,281 281,936 102,757 35,993,873 34,934,272

Net Tangible Capital Asset 16,537,399 3,614,369 1,899,450 175,258 168,339 65,167 570,392 173,902 1,314,476 24,518,752 23,124,476

Proceeds from Disposal of Capital Assets - - 6,400 27,105 - - 33,505 40,366

* Includes network infrastructure.

3,146,851

-

907,445

-

61,502 -

102,238 - 3,588,150

504,804

1,406,248

500,899 -

57,091

23

Buildings and Leasehold Improvements

-

23,681

-

2,273,503 422,265 73,013 -

- 503,395

- 503,395 50,555 -

- (2,999,096)

- -

25,166

3,018,774

564,897

1,613,551

553,950

206,151 367,950 26,067

-


2015 2014

Financial Assets

Cash and Bank 428,636 339,068

GST Receivable - -


Portfolio Investments 39,567 39,549

468,203 378,617

Liabilities

School Generated Funds Liability 30,165 5,778

Accounts Payable - -

Accrued Liabilities - -

Due to Other Funds - -

Deferred Revenue - -

30,165 5,778

Accumulated Surplus * 438,038 372,839

* Comprised of:

School Generated Funds Accumulated Surplus 438,038 372,839

Other Funds Accumulated Surplus - -

Accumulated Surplus * 438,038 372,839

SPECIAL PURPOSE FUND SCHEDULE OF FINANCIAL POSITION

as at June 30

13-Oct-15

25


2015 2014

Revenue


Other Funds - -

- -

912,566 783,018

Expenses


Other Funds - -

- -

847,367 782,066

Current Year Surplus (Deficit) 65,199 952

Transfers (to) Operating Fund - -

Transfers (to) Capital Fund - -

Net Current Year Surplus (Deficit) 65,199 952

Opening Accumulated Surplus 372,839 371,887

Adjustments: School Generated Funds - -

Other Funds - -

Opening Accumulated Surplus as adjusted 372,839 371,887

Closing Accumulated Surplus 438,038 372,839

For the Year Ended June 30

13-Oct-15

SPECIAL PURPOSE FUND SCHEDULE OF REVENUE, EXPENSES

AND ACCUMULATED SURPLUS

26


STUDENT ENROLMENTS (FRAME) AND TRANSPORTATION STATISTICS(UNAUDITED)

ENROLMENTS BY PROGRAM F.T.E. EnrolmentSeptember 30, 2014

REGULAR INSTRUCTION

English Language - Single Track 2,445.5

Francais - Single Track -

French Immersion - Single Track 219.5

Dual Track

- English Language 212.0

- Francais -

- French Immersion 35.0

- Other Bilingual 76.5 323.5

Senior Years Technology Education 119.0

TOTAL NUMBER OF FULL TIME EQUIVALENT K - 12 STUDENTS 3,107.5

TRANSPORTATION OF PUPILS

TRANSPORTED STUDENTS (September 30) 1,382 TOTAL KILOMETERS - LOG BOOK (For the period ended June 30) 1,405,514 TOTAL KILOMETERS - BUS ROUTES (For the period ended June 30) 1,365,514 LOADED KILOMETERS (For the period ended June 30) 1,151,322

13-Oct-15

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FULL TIME EQUIVALENT PERSONNEL (UNAUDITED)

For the 2014/15 Fiscal Year

FUNCTION FUNCTION FUNCTION FUNCTION FUNCTION FUNCTION FUNCTION FUNCTION

CODE OBJECT \ FUNCTION 100 200 300 400 500 600 700 800 TOTALS

320 Executive, Managerial, & Supervisory 17.80 1.00 5.03 1.30 1.50 1.50 28.13

330 Instructional - Teaching 192.77 22.38 2.25 217.40

350 Instructional - Other 20.37 87.10 14.46 121.93

360 Technical, Specialized And Service 3.25 5.00 4.00 4.17 52.25 45.71 114.38

370 Secretarial, Clerical And Other 18.96 0.50 1.50 0.75 2.00 1.00 24.71

380 Clinician 5.90 5.90

390 Information Technology 5.00 5.00

TOTALS (excluding Trustees) 258.15 121.88 0.00 0.00 10.53 22.93 55.75 48.21 517.45

510 Contracted Clinicians (include private clinicians where possible)

310 TRUSTEES 9.00

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Mountain View School Division: 2014/2015 Financial Statements

CALCULATION OF ADMINISTRATION COSTS

AS A PERCENTAGE OF TOTAL EXPENSES

Administration Costs

Divisional Administration, Function 500 1,362,464

Curriculum Consulting & Development Administration, Program 605 20,655

Transportation Administration, Program 710 214,459

Operations & Maintenance Administration, Program 810 171,375

Sub-total 1,768,953

Less: Liability Insurance 16,930

Administration portion of self-funded expenses (see below) 0 *

1,752,023 (A)

Expense Base

Total Operating Expenses 38,906,923

Plus: Transfers to Capital 1,106,001

Less: Adult Learning Centres, Function 300 0

40,012,924 (B)

Percentage (A) / (B) 4.4%

Self-Funded Expenses (fully offset by incremental revenues):

International Student Programs

Expenses (1)

Instructional -


Other: -

-

0


Self-Administered Pension Plans

Expenses (1)


Other: -

-

0


(1) Incremental costs of the program.

(2) Tuition fees from international students or the pension plan administration fee.

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Mountain View School Division : 2014/2015 Financial StatementsCALCULATION OF ALLOWABLE AND UNSUPPORTED EXPENSES

CALCULATION OF ALLOWABLE EXPENSESR E D U C T I O N S T O E X P E N S E S

OTHER NON-PROVINCIAL SOURCESADJUSTMENTS OTHER PROVINCIAL TUITION,

TO CATEGORICAL PROGRAM GOVERNMENT TRANSFER AND FUNCTION / PROGRAM TOTAL EXPENSES SUPPORT SUPPORT REVENUE RESIDUAL FEES OTHER ALLOWABLE

EXPENSES < < < < < (from Appendix A) > > > > > < < < < < (from Appendix B) > > > > > EXPENSES

210 - 260 Student Support Services 4,281,494 0 1,390,989 0 19,315 0 3,480 2,867,710 270 Counselling and Guidance 1,031,526 0 0 0 0 0 0 1,031,526 300 Adult Learning Centres 0 0 0 0 400 Community Education and Services 102,146 43,547 0 61,500 0 0 620 Library / Media Centre 527,635 0 0 0 0 0 0 527,635 630 Professional and Staff Development 254,573 0 0 0 0 0 0 254,573 800 Operations and Maintenance 4,971,667 183,211 0 164,340 0 0 202,603 4,787,935ALLOCATED ADJUSTMENTS/REDUCTIONS 183,211 1,434,536 164,340 80,815 0 206,083UNALLOCATED ADJUSTMENTS/REDUCTIONS 73,013 2,524,222 178,972 824,216 1,494,522 535,107 (1) TOTALS 11,169,041 256,224 3,958,758 343,312 905,031 1,494,522 741,190 9,469,379

OTHER FUNCTION/PROGRAMS EXPENSES 27,737,882 OPEN OR CLOSE DETAIL

TOTAL EXPENSES 38,906,923

CALCULATION OF UNSUPPORTED EXPENSES

OTHER FUNCTION/PROGRAMS EXPENSES 27,737,882TOTAL ALLOWABLE EXPENSES 9,469,379TOTAL UNALLOCATED ADJUSTMENTS/REDUCTIONS (1) (5,484,026) OPEN OR CLOSE DETAIL

Base Support (from page 8) (10,685,867)Formula Guarantee (from page 8) 0SCHOOL BUS AMORTIZATION (from TCA Sched page 23) 367,950TOTAL UNSUPPORTED EXPENSES 21,405,318

30

Mountain View School Division : 2014/2015 Financial Statements

CALCULATION OF ALLOWABLE EXPENSES (refer to "Allow Guide")

ADJUSTMENTS TO EXPENSES: Function/ Amount CATEGORICAL SUPPORT TO BE ALLOCATED(enter deductions as negative amounts) Program

Special Needs: Coordinator/ClinicianCapitalized Energy Mgmt. Systems Costs (add) (1), (2) 800 239,288 (A) Maximum Support 302,328Capitalized Section "D" School Bldgs. Costs (add) (1) 800 (B) Eligible Expenses 617,424Transfers from Capital Fund (deduct) 800 (56,077) (C) Less related revenuesLeased Non-School Space (deduct) 800 0 (D) Allowable Expenses (B) - (C) 617,424

# Transfers from Special Purpose Fund (deduct) 0# Other Capitalized Items Eligible Support (lesser of A or D) 302,328# (specify Item and Function/Program) (2) Special Needs: Level 2 and 3 1,088,661

Aboriginal Academic Achievement 215,000Vehicle Purchases Unallocated 73,013 Early Literacy Intervention 189,633

# Numeracy 31,391## Small Schools# (A) Maximum Support 114,821# (B) Program Expenses 114,821# Eligible Support (lesser of A or B) 114,821## Board and Room# (A) Maximum Support# (B) Program Expenses# Eligible Support (lesser of A or B) 0# Early Childhood Development 43,547## Total allocable Categorical Support (carried to Allow Input) 1,985,381## Non-allocable Categorical Support 1,973,377# Total Categorical Support (carried to page 30) 3,958,758##

Total Adjustments to Expenses 256,224(1) Net of all related revenues.

CALCULATION OF ALLOWABLE SCHOOL BUILDING SUPPORT "D" EXPENSES:

Program 850 School Building Repairs & Replacements 314,222 PLUS: Capitalized Section "D" Expenses (net) 0 Grounds -

OTHER PROGRAM SUPPORT: LESS: Related revenue other than "D" Support -

School Buildings Support: "D" Projects 164,340 Allowable Section "D" Expenses (C) 314,222Technology Education Equipment & Skills Strategy Equipment Enhancement 178,972 < OR >Other Minor Capital Support 0 Expenses to be used for calculating "D" Grant. Enter anCurricular Materials Prior Year Support 0 amount to overwrite if different from above. (D) 314,222 Finalization of Previous Year's support 0 (cannot be more than amount on line "C")

Refer to page 2 of the Allowable Expenses Guide when completing this section.Amount carried forward to Allowable Expenses 343,312

APPENDIX A

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(2) For capitalized energy management systems costs and other capitalized items, lease and loan payments for eligible equipment may be included.

Mountain View School Division : 2014/2015 Financial Statements

CALCULATION OF ALLOWABLE EXPENSES APPENDIX B

OTHER PROVINCIAL GOVERNMENT REVENUE: Allocated Unallocated Total Other Dept. of Education General Support Grant 589,698 589,698 Education Property Tax Credit 3,548,324 3,548,324 Tax Incentive Grant 690,312 690,312 All other 315,333 315,333 Other Provincial Government Departments 0 0

Total Revenue 315,333 4,828,334 5,143,667

NON-PROVINCIAL SOURCES: Allocated Unallocated Total Federal Government Tuition Fees 0 0 All other 20,245 20,245 Municipal Government Net Special Requirement 10,431,053 10,431,053 Other 0 0 OTHER PROVINCIAL GOVERNMENT REVENUE: Other School Divisions Total Revenue 5,143,667 Tuition Fees 0 0 Education Property Tax Credit (3,548,324) Transfer Fees 40,580 40,580 Tax Incentive Grant (690,312) Residual Fees 220,231 220,231 PROVINCIAL REVENUE FOR EQUALIZATION 905,031 All other 173,009 173,009 (to agree with Other Provincial Gov't Revenue on page 30) First Nations Tuition Fees 853,504 853,504 NON-PROVINCIAL SOURCES: All other 14,111 14,111 TOTAL ALLOCABLE FEES 1,494,522 Private Organizations and Individuals (Tuition, Transfer and Residual Fees) Tuition Fees 380,207 380,207 Ancillary Services 297,854 297,854 Other Sources TOTAL ALLOCABLE OTHER REVENUE 741,190 Interest 1,123 1,123 (to agree with total other revenue on page 30) Donations 0 0 Other 235,971 235,971

Total Revenue 2,235,712 10,432,176 12,667,888 TOTAL ALLOCABLE NON-PROV. SOURCES 2,235,712

ALL REVENUES REPORTED ON THIS PAGE, EXCEPT THOSE SHADED, MUST BE DEDUCTED FROM TOTAL EXPENSES ON PAGE 30 UNLESS THERE ARE SPECIAL CIRCUMSTANCES WHICH WOULD MAKE AN ALLOCATION IMPRACTICAL OR INAPPROPRIATE. IN THOSE LIMITED CASES, REASONS FOR NOT ALLOCATING MUST BE PROVIDED BELOW.

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AND SUPPLEMENTARY INFORMATION · Special education co-ordinators or student services administrators...

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