School District 60 finances in accordance with Provincial Guidelines: Audit

FORT ST. JOHN, B.C. – School District’s finances for the year ending June 30th, 2016, are in accordance with the Provincial standards that are set out by the province, according to the audit recently done on the board.

KPMG, which is a external auditing company, conducted the audit of School District 60’s expenses.

The districts total financial assets totalled $17,335,826.00 compared to $11,251,780.00 in 2015. The district also had a total of $70,930,656.00 in Non-financial assets in 2016. In 2015, they had $65,940,843.00.

Revenue saw $68,476,732 come in. The district had originally budgeted for $64,526,926.00. In 2015, revenue was at $69,886,777.00. So there was a slight drop this year from last.

Expenses saw a little bit of a spike in 2016. There was $66,583,323.00 in expenses. In 2015, there was $62,493,121.00.

Cash and cash equivalents saw a rise from $9,913,301.00 in 2015. In 2016, that number is $15,993,365.00.

There were $144,000.00 in Prepaid expenses for the year compared to $197,000.00 in 2015.

Overall, School District 60 said there were no major surprises when it came to the budget, or any major questions.

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