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 Division's finances.

The budget report, audited financial statements and supporting schedules of Lethbridge School Division 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 Division's budget is typically developed and approved from January to May of each year (preceding the relating school year); in which, this is the Division's "Preliminary budget" and is the legally adopted operating budget for the Division.  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 Division has received the Meritorious Budget Award (MBA Program) from the Association of School Business Officials (ASBO) International every year (up to the 2019-2020 Annual Budget Report) since first receiving the MBA on the 2006-2007 budget for excellence in our Annual Budget Report(s).

The Division has received the Canadian Award for Excellence in Financial Reporting (CAnFR Program) from the Government Finance Officers Association (GFOA) International every year (up to the 2017-2018 Annual Financial Report) since first receiving the CAnFR on the 2016-2017 Annual Financial Report (first year of creating and submitting the report) for excellence in financial reporting.

The 2019-2020 Annual Budget Report is our most current comprehensive budget reporting for the Division.  This report has received the Meritorious Budget Award (MBA) from ASBO International for excellence in our budget presentation.

The 2017-2018 Annual Financial Report is our most current comprehensive financial reporting for the Division.  This report has received the Canadian Award for Excellence in Financial Reporting (CAnFR) from GFOA International for excellence in our financial reporting.