Question1

Agenda
2010-11 Financial Results
Financial Operating Results
Cumulative Results
Reconciliation from Operating to Consolidated Financial Statements
Audited Consolidated Financial Statements
Auditors’ Report to Audit Committee
Overview & Recommendations

Financial Operating Results
Overview
2010-11 Financial Operating Results
Operating Revenues
Operating expenses:
By Function & By Object
Financial Operating Results & Accumulated Surplus

Overview
No Compliance Deficit
Compliance with Ministry Envelopes
Accommodation Special Education
Admin & Governance (within 15% limitation)
Pupil Accommodation

Overview
Comparative using Revised Estimate:
Estimates used for Consolidated Financial Statements, but not true Board “budget”
Compliance position vs Consolidated Financial Statements
Traditional focus on board defined “operating” revenues & expenses, and compliance position
Reconciliation of “operating” revenues and expenses to Consolidated Financial Statements revenues and expenses will be provided

Financial Operating Results

Operating Revenues