Financial Reporting

Financial Reporting

In an attempt to be as transparent to the public as possible, the Business Affairs department provides multiple reports and documents to keep the public informed of the District's finances.

The budget report, audited financial statements and supporting schedules of Lethbridge School District No. 51 presented to Alberta Learning have been prepared by school jurisdiction management which had responsibility for their preparation, integrity and objectivity. The generally accepted accounting principles and Ministerial requirements for Alberta school jurisdictions.

The District's budget is typically developed and approved from January to May of each year (preceding the relating school year); in which, this is the District's "Preliminary budget" and is the legally adopted operating budget for the District.  The budget is then updated at the beginning of the school year (from September to November) for the updated enrolment count and other updated information; in which, this budget is referred to as the "Operating budget" and/or "September 30th budget". 

Awards

The District has received the Meritorious Budget Award (MBA Program) from the Association of School Business Officials (ASBO) International every year (up to 2018/2019 budget) since first receiving the MBA on the 2006/2007 budget for excellence in our Annual Budget Report(s).

The District has received the Canadian Award for Excellence in Financial Reporting (CAnFR Program) from the Government Finance Officers Association (GFOA) International for the 2016/2017 Annual Financial Report (first year of creating and submitting the report).