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DAA Fiscal Management Priority Objectives

Adopted: February 2, 1993

Amended: June 26, 2007, November 25, 2013

Policy

The Board recognizes that its primary purpose is to provide the best possible education for the children in its care within the limits of established curriculum and the financial resources available. It, therefore, directs that a long-term financial plan (based on approved planning factors) be developed for the District, that the plan be reviewed and updated at least annually, and that annual District Budgets be governed by considerations derived from the Three Year Educational Strategic Plan.

Guidelines

The District's Financial Plan will:

  1. Reflect the mission, goals, objectives, and priorities of the District and the Province;
  2. Achieve an immediate short-term and long-term balanced condition with regard to revenues and expenditures; and
  3. Provide for realistic annual student population growth targets by sector recognizing local employment conditions.

Procedures

The following statements are intended to serve as a guide for Board decisions relative to the District's long term financial goals and in support of the fiscal management policy:

  1. Establish policy and guidelines which will control per-student costs while continuing to improve services provided to the public and the quality of education provided to students;
  2. Review programs on an annual basis in terms of obsolescence and duplication relative to student interest in accordance with the District's mission, goals and objectives. Program expansion and contraction to be limited by specific Board authority;
  3. An accumulated surplus position should be maintained at a minimum of two (2) per cent of average annual budget.
  4. Maintain and extend the Capital Plan for growth and expansion on the basis of local, provincial and national indicators. Ensure short term capital requirements are included in the Finance Plan; and
  5. Help ensure that all property and buildings are used efficiently, by including the following in the long range facilities plan:
    1. Building utilization should be maintained at a minimum system level of 85% in order to maximize provincial funding on future building construction needs;
    2. Generate interest from surplus funds in order to assist with balancing annual budgets, and develop policy for cash management system in order to ensure maximum yield on investments of available cash.

References

Legal Reference:

Alberta School Act: Sections, 60, 61,Part 6, Section 191

Cross Reference: DA Fiscal Management - Goals
GBP School Based Management - Staffing
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