Post on 19-Mar-2020
6015HAB1
School Jurisdiction Code: 6015
AUDITEDFINANCIAL STATEMENTS
FOR THE YEAR ENDED AUGUST 31, 2015[School Act, Sections 147(2)(a), 148, 151(1) and 276]
Legal Name of School Jurisdiction
Mailing Address
Telephone & Fax Numbers, and Email Address
SCHOOL JURISDICTION MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING
The financial statements of
Board of Trustees Responsibility
External Auditors
Declaration of Management and Board Chair
c.c. ALBERTA EDUCATION, Financial Reporting & Accountability Branch8th Floor Commerce Place, 10155-102 Street, Edmonton AB T5J 4L5EMAIL: sarah.brennan@gov.ab.caPHONE: (780) 422-0312 (Toll free 310-0000) FAX: (780) 422-6996
Jill Weiss
of qualified personnel, an organizational structure that provides an appropriate division of responsibility and a strong system of budgetary control.
The ultimate responsibility for the financial statements lies with the Board of Trustees. The Board reviewed the auditedfinancial statements with management in detail and approved the financial statements for release.
The Board appoints external auditors to audit the financial statements and meets with the auditors to review their findings.The external auditors were given full access to school jurisdiction records.
To the best of our knowledge and belief, these financial statements reflect, in all material respects, the financial position,results of operations and cash flows for the year in accordance with Canadian Public Sector Accounting Standards.
BOARD CHAIR
"Original Signed"
school jurisdiction's transactions. The effectiveness of the control systems is supported by the selection and training
New Horizons Charter School Society
53145 Range Rd 222 Ardrossan AB T8E 2M8
(780) 922-8087 (780) 922-8784 fdekleine@newhorizons.ab.ca
presented to Alberta Education have been prepared by school jurisdiction management which has responsibility fortheir preparation, integrity and objectivity. The financial statements, including notes, have been prepared in accordancewith Canadian Public Sector Accounting Standards and follow format prescribed by Alberta Education.
In fulfilling its reporting responsibilities, management has maintained internal control systems and procedures designedto provide reasonable assurance that the school jurisdiction's assets are safeguarded, that transactions are executedin accordance with appropriate authorization and that accounting records may be relied upon to properly reflect the
New Horizons Charter School Society
Board-approved Release Date
Signature
Signature
SignatureName
Name
Name
SUPERINTENDENT
Don B. Falk
SECRETARY-TREASURER OR TREASURER
G. (Fred) de Kleine
November 20, 2015
"Original Signed"
"Original Signed"
1
School Jurisdiction Code: 6015
TABLE OF CONTENTS
Page
3
4
5
6
7
9
10
12
13
14
15
16
17
18
STATEMENT OF CHANGE IN NET FINANCIAL ASSETS (NET DEBT)
INDEPENDENT AUDITOR'S REPORT
NOTES TO THE FINANCIAL STATEMENTS
SCHEDULE OF PROGRAM OPERATIONS
SCHEDULE OF CAPITAL REVENUE
SCHEDULE OF CHANGES IN ACCUMULATED SURPLUS
STATEMENT OF REMEASUREMENT GAINS AND LOSSES
STATEMENT OF CASH FLOWS
STATEMENT OF OPERATIONS
STATEMENT OF FINANCIAL POSITION
SCHEDULE OF PLANT OPERATIONS AND MAINTENANCE EXPENSES
UNAUDITED SCHEDULE OF FEE REVENUE
UNAUDITED SCHEDULE OF DIFFERENTIAL FUNDING
UNAUDITED SCHEDULE OF CENTRAL ADMINISTRATION EXPENSES
2
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors of New Horizons Charter School Society
We have audited the accompanying financial statements of New Horizons Charter School Society, which comprise the statement of financial position as at August 31, 2015, and the statements of operations, cash flow, changes in net debt, and change in remeasurement gains and losses, for the year ended August 31, 2015, and a summary of significant accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian Public Sector Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances,. but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion In our opinion, these financial statements present fairly, in all material respects, the financial position of New Horizons Charter School Society as at August 31, 2015, and the results of its operations and its cash flows for the year ended August 31, 2015, in accordance with Canadian Public Sector Accounting Standards.
Sherwood Park, Alberta November 20, 2015
~ )'~ tJ41;;,q 1-J.~ Vleemmg Vleeming O'Neill LLP
Vleeming Vleeming O'Neill LLP
Accountants 3
School Jurisdiction Code: 6015
2015 2014
FINANCIAL ASSETS
Cash and cash equivalents 86,128$ 248,857$
Accounts receivable (net after allowances) (Note 3) 33,411$ 19,505$
Portfolio investments (Note 4) 611,220$ 757,759$
Other financial assets -$ -$
Total financial assets 730,759$ 1,026,121$
LIABILITIES
Bank indebtedness -$ -$
Accounts payable and accrued liabilities (Note 5) 81,278$ 32,644$
Deferred revenue (Note 6) 267,722$ 1,186,166$
Employee future benefit liabilities -$ -$
Liability for contaminated sites -$ -$
Other liabilities -$ -$
Debt
Supported: Debentures and other supported debt -$ -$
Unsupported: Debentures and capital loans -$ -$
Mortgages -$ -$
Capital leases -$ -$
Total liabilities 349,000$ 1,218,810$
381,759$ (192,689)$
NON-FINANCIAL ASSETS
Tangible capital assets (Note 7)
Land -$ -$
Construction in progress -$ -$
Buildings 554,616$
Less: Accumulated amortization -$ 554,616$ 1,182,929$
Equipment 19,705$
Less: Accumulated amortization (6,604)$ 13,101$ -$
Vehicles -$
Less: Accumulated amortization -$ -$ -$
Computer Equipment -$
Less: Accumulated amortization -$ -$ -$
Total tangible capital assets 567,717$ 1,182,929$
Prepaid expenses 9,006$ 7,175$
Other non-financial assets -$ -$
Total non-financial assets 576,723$ 1,190,104$
Accumulated surplus (Note 8) 958,482$ 997,415$
Accumulating surplus / (deficit) is comprised of:
Accumulated operating surplus (deficit) 958,482$ 997,415$
Accumulated remeasurement gains (losses) -$ -$
958,482$ 997,415$
Contractual obligations (Note 9)
Contingent liabilities
The accompanying notes and schedules are part of these financial statements.
As at August 31, 2015 (in dollars)STATEMENT OF FINANCIAL POSITION
Net financial assets (debt)
4
School Jurisdiction Code: 6015
Budget Actual Actual2015 2015 2014
(Note 14)
Alberta Education 2,232,236$ 2,215,811$ 2,124,165$
Other - Government of Alberta -$ -$ -$
Federal Government and First Nations -$ -$ -$
Other Alberta school authorities -$ -$ -$
Out of province authorities -$ -$ -$
Alberta municipalities-special tax levies -$ -$ -$
Property taxes -$ -$ -$
Fees 50,900$ 68,629$ 76,862$
Other sales and services 20,773$ 20,065$ 18,380$
Investment income 7,001$ 7,636$ 9,081$
Gifts and donations 12,000$ 23,100$ 8,500$
Rental of facilities -$ -$ -$
Fundraising 4,000$ 5,567$ 8,096$
Gains on disposal of capital assets -$ -$ -$
Other revenue -$ -$ -$
Total revenues 2,326,910$ 2,340,808$ 2,245,084$
Instruction - ECS 117,276$ 115,418$ 104,190$
Instruction - Grades 1 - 12 1,834,402$ 1,760,998$ 1,697,269$
Plant operations and maintenance 285,663$ 275,995$ 187,970$
Transportation 33,784$ 43,879$ 20,450$
Board & system administration 177,432$ 172,579$ 183,401$
External services 4,700$ 10,872$ 10,995$
Total expenses 2,453,257$ 2,379,741$ 2,204,275$
(126,347)$ (38,933)$ 40,809$
STATEMENT OF OPERATIONSFor the Year Ended August 31, 2015 (in dollars)
EXPENSES
Operating surplus (deficit)
The accompanying notes and schedules are part of these financial statements.
REVENUES
5
6015
2015 2014
CASH FLOWS FROM:
A. OPERATING TRANSACTIONS
Operating surplus (deficit) (38,933)$ 40,809$
Add (Deduct) items not affecting cash:
Total amortization expense 60,664$ 63,188$
Gains on disposal of tangible capital assets -$ -$
Losses on disposal of tangible capital assets -$ -$
Expended deferred capital revenue recognition (60,664)$ (60,663)$
Deferred capital revenue write-off -$ -$
Donations in kind -$ -$
Changes in:
Accounts receivable (13,906)$ (104)$
Prepaids (1,831)$ (192)$
Other financial assets -$ -$
Non-financial assets -$ -$
Accounts payable, accrued and other liabilities 48,634$ (55,075)$
Deferred revenue (excluding EDCR) (1,141)$ 1,142$
Employee future benefit liabilities -$ -$
-$ -$
Total cash flows from operating transactions (7,177)$ (10,895)$
B. CAPITAL TRANSACTIONS
Purchases of tangible capital assets
Land -$ -$
Buildings (288,990)$ -$
Equipment (13,101)$ -$
Vehicles -$ -$
Computer equipment -$ -$
Net proceeds from disposal of unsupported capital assets -$ -$
-$ -$
Total cash flows from capital transactions (302,091)$ -$
C. INVESTING TRANSACTIONS
Purchases of portfolio investments (13,284)$ (7,164)$
Dispositions of portfolio investments 159,823$ -$
Remeasurement gains (losses) reclassified to the statement of operations -$ -$
Change in endowments -$ -$
-$ -$
Total cash flows from investing transactions 146,539$ (7,164)$
D. FINANCING TRANSACTIONS
Issue of debt -$ -$
Repayment of debt -$ -$
-$ -$
Issuance of capital leases -$ -$
Repayment of capital leases -$ -$
-$ -$
-$ -$
Total cash flows from financing transactions -$ -$
Increase (decrease) in cash and cash equivalents (162,729)$ (18,059)$
Cash and cash equivalents, at beginning of year 248,857$ 266,916$
Cash and cash equivalents, at end of year 86,128$ 248,857$
The accompanying notes and schedules are part of these financial statements.
For the Year Ended August 31, 2015 (in dollars)
School Jurisdiction Code:
STATEMENT OF CASH FLOWS
Other factors affecting debt (describe)
Other factors affecting capital leases (describe)
Other (describe)
Other (describe)
Other (describe)
Other (describe)
6
6015
Budget 2015 2014
2015
Operating surplus (deficit) (126,347)$ (38,933)$ 40,809$
Effect of changes in tangible capital assets
Acquisition of tangible capital assets -$ 554,548$ -$
Amortization of tangible capital assets 60,663$ 60,664$ 63,188$
Net carrying value of tangible capital assets disposed of -$ -$ -$
Write-down carrying value of tangible capital assets -$ -$ -$
Other changes -$ -$ -$
Total effect of changes in tangible capital assets 60,663$ 615,212$ 63,188$
Changes in:
Prepaid expenses -$ (1,831)$ (192)$
Other non-financial assets -$ -$ -$
Net remeasurement gains and (losses) -$ -$ -$
Endowments -$ -$ -$
Increase (decrease) in net financial assets (net debt) (65,684)$ 574,448$ 103,805$
Net financial assets (net debt) at beginning of year -$ (192,689)$ (296,494)$
Net financial assets (net debt) at end of year (65,684)$ 381,759$ (192,689)$
School Jurisdiction Code:
STATEMENT OF CHANGE IN NET FINANCIAL ASSETS (NET DEBT)
For the Year Ended August 31, 2015 (in dollars)
The accompanying notes and schedules are part of these financial statements.
7
School Jurisdiction Code: 6015
2015 2014
Accumulated remeasurement gains (losses) at beginning of year -$ -$
Unrealized gains (losses) attributable to:
Portfolio investments -$ -$
Other -$ -$
Amounts reclassified to the statement of operations:
Portfolio investments -$ -$
Other -$ -$
Net remeasurement gains (losses) for the year -$ -$
Accumulated remeasurement gains (losses) at end of year -$ -$
STATEMENT OF REMEASUREMENT GAINS AND LOSSES
The accompanying notes and schedules are part of these financial statements.
For the Year Ended August 31, 2015 (in dollars)
8
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pe
rati
on
s &
Ma
inte
na
nc
eB
oa
rd &
Sy
ste
m A
dm
inis
tra
tio
nT
ran
sp
ort
ati
on
SC
HE
DU
LE
OF
CH
AN
GE
S I
N A
CC
UM
UL
AT
ED
SU
RP
LU
S
10
6015
SCHEDULE OF CAPITAL REVENUE(EXTERNALLY RESTRICTED CAPITAL REVENUE ONLY)
for the Year Ended August 31, 2015 (in dollars)
Proceeds on UnexpendedDisposal of Deferred
Provincially Surplus from Provincially Capital Expended
Approved Provincially Funded Revenue from Deferred
& Funded Approved Tangible Capital Other Capital
Projects (A) Projects (B) Assets (C) Sources (D)Revenue
Balance at August 31, 2014 -$ -$ -$ -$ 1,182,928$
Prior period adjustments -$ -$ -$ -$ -$
Adjusted balance, August 31, 2014 -$ -$ -$ -$ 1,182,928$
Add:
Unexpended capital revenue received from:
Alberta Education school building & modular projects (excl. IMR) 265,626$
Infrastructure Maintenance & Renewal capital related to school facilities -$
Other sources: (Describe) -$ -$
Other sources (Describe) : -$ -$
Unexpended capital revenue receivable from:
Alberta Education school building & modular (excl. IMR) -$
Other sources: (Describe) -$ -$
Other souces: (Describe) -$ -$
Interest earned on unexpended capital revenue -$ -$ -$ -$
Other unexpended capital revenue: (Describe) -$
Net proceeds on disposal of supported tangible capital assets -$ -$
Insurance proceeds (and related interest) -$ -$
Donated tangible capital assets (Explain): -$
Alberta Schools Alternative Program (ASAP), Building Alberta School Construction Program, (BASCP) and other Alberta Infrastructure managed projects 265,626$
Transferred in (out) tangible capital assets (amortizable, @ net book value) (1,122,265)$
Expended capital revenue - current year -$ -$ -$ -$ -$
Surplus funds approved for future project(s) -$ -$
Other adjustments (Explain): -$ -$ -$ -$ -$
Deduct:
Net book value of supported tangible capital dispositions or write-offs
Other adjustments (Explain): -$ -$ -$ -$
Capital revenue recognized - Alberta Education 60,664$
Capital revenue recognized - Other Government of Alberta -$
Capital revenue recognized - Other revenue -$
Balance at August 31, 2015 265,626$ -$ -$ -$ 265,625$ (A) (B) (C) (D)
Balance of Unexpended Deferred Capital Revenue at August 31, 2015 (A) + (B) + (C) + (D) 265,626$
Unexpended Deferred Capital Revenue
(A) - Represents funding received from the Government of Alberta to be used toward the acquisition of new approved tangible capital assets with restricted uses only.
(B) - Represents any surplus of funding over costs from column (A) approved by Minister for future capital expenditures with restricted uses only.
(C) - Represents proceeds on disposal of provincially funded restricted-use capital assets to be expended on approved capital assets per 10(2)(a) of Disposition of Property Reg. 181/2010.
(D) - Represents capital revenue received from entities OTHER THAN the Government of Alberta for the acquisition of restricted-use tangible capital assets.
Unexpended Deferred Capital Revenue
11
Sch
oo
l Ju
risd
icti
on
Co
de:
6015
2014
Pla
nt
Op
erat
ion
s B
oar
d &
RE
VE
NU
ES
and
Sys
tem
E
xter
nal
E
CS
Gra
des
1 -
12
Mai
nte
nan
ceT
ran
spo
rtat
ion
Ad
min
istr
atio
nS
ervi
ces
TO
TA
LT
OT
AL
(1)
Alb
erta
Edu
catio
n20
8,43
3$
1,
578,
700
$
22
2,19
3$
9,
882
$
19
3,83
7$
2,
766
$
2,
215,
811
$
2,
124,
165
$
(2
)O
ther
- G
over
nmen
t of A
lber
ta-
$
-$
-
$
-$
-
$
-$
-
$
-$
(3
)F
eder
al G
over
nmen
t and
Firs
t Nat
ions
-$
-
$
-$
-
$
-$
-
$
-$
-
$
(4)
Oth
er A
lber
ta s
choo
l aut
horit
ies
-$
-
$
-$
-
$
-$
-
$
-$
-
$
(5)
Out
of p
rovi
nce
auth
oriti
es-
$
-$
-
$
-$
-
$
-$
-
$
-$
(6)
Alb
erta
mun
icip
aliti
es-s
peci
al ta
x le
vies
-$
-
$
-$
-
$
-$
-
$
-$
-
$
(7)
Pro
pert
y ta
xes
-$
-
$
-$
-
$
-$
-
$
-$
-
$
(8)
Fee
s2,
178
$
66
,451
$
-$
-
$
68,6
29$
76
,862
$
(9)
Oth
er s
ales
and
ser
vice
s1,
270
$
15
,622
$
-$
-
$
-$
3,
173
$
20
,065
$
18,3
80$
(1
0)In
vest
men
t inc
ome
-$
5,
714
$
1,
922
$
-
$
-$
-
$
7,63
6$
9,08
1$
(11)
Gift
s an
d do
natio
ns-
$
23,1
00$
-
$
-$
-
$
-$
23
,100
$
8,50
0$
(12)
Ren
tal o
f fac
ilitie
s-
$
-$
-
$
-$
-
$
-$
-
$
-$
(13)
Fun
drai
sing
-$
-
$
-$
-
$
-$
5,
567
$
5,
567
$
8,
096
$
(14)
Gai
ns o
n di
spos
al o
f tan
gibl
e ca
pita
l ass
ets
-$
-
$
-$
-
$
-$
-
$
-$
-
$
(15)
Oth
er r
even
ue-
$
-$
-
$
-$
-
$
-$
-
$
(16)
TO
TA
L R
EV
EN
UE
S21
1,88
1$
1,
689,
587
$
22
4,11
5$
9,
882
$
19
3,83
7$
11
,506
$
2,34
0,80
8$
2,24
5,08
4$
EX
PE
NS
ES
(17)
Cer
tific
ated
sal
arie
s73
,358
$
1,05
3,09
0$
-$
-
$
1,12
6,44
8$
1,09
0,14
5$
(18)
Cer
tific
ated
ben
efits
7,36
6$
219,
546
$
-$
-
$
226,
912
$
230,
714
$
(19)
Non
-cer
tific
ated
sal
arie
s an
d w
ages
27
,909
$
169,
630
$
-$
-
$
-$
-
$
197,
539
$
186,
962
$
(20)
Non
-cer
tific
ated
ben
efits
3,87
8$
24,8
69$
-
$
-$
-
$
-$
28
,747
$
26,6
84$
(21)
SU
B -
TO
TA
L11
2,51
1$
1,
467,
135
$
-
$
-$
-
$
-$
1,
579,
646
$
1,
534,
505
$
(22)
Ser
vice
s, c
ontr
acts
and
sup
plie
s2,
907
$
29
3,24
4$
21
5,33
1$
43
,879
$
169,
666
$
10,8
72$
73
5,89
9$
60
3,50
0$
(23)
Am
ortiz
atio
n of
sup
port
ed ta
ngib
le c
apita
l ass
ets
-$
-
$
60,6
64$
-
$
-$
-
$
60,6
64$
60
,663
$
(24)
Am
ortiz
atio
n of
uns
uppo
rted
tang
ible
cap
ital a
sset
s-
$
-$
-
$
-$
-
$
-$
-
$
2,52
5$
(25)
Sup
port
ed in
tere
st o
n ca
pita
l deb
t-
$
-$
-
$
-$
-
$
-$
-
$
-$
(26)
Uns
uppo
rted
inte
rest
on
capi
tal d
ebt
-$
-
$
-$
-
$
-$
-
$
-$
-
$
(27)
Oth
er in
tere
st a
nd fi
nanc
e ch
arge
s-
$
619
$
-$
-
$
2,91
3$
-$
3,
532
$
3,
082
$
(28)
Loss
es o
n di
spos
al o
f tan
gibl
e ca
pita
l ass
ets
-$
-
$
-$
-
$
-$
-
$
-$
-
$
(29)
Oth
er e
xpen
se-
$
-$
-
$
-$
-
$
-$
-
$
-$
(3
0)T
OT
AL
EX
PE
NS
ES
115,
418
$
1,76
0,99
8$
275,
995
$
43,8
79$
17
2,57
9$
10
,872
$
2,37
9,74
1$
2,20
4,27
5$
(31)
96,4
63$
(7
1,41
1)$
(5
1,88
0)$
(3
3,99
7)$
21
,258
$
634
$
(38,
933)
$
40,8
09$
O
PE
RA
TIN
G S
UR
PL
US
(D
EF
ICIT
)
SC
HE
DU
LE
OF
PR
OG
RA
M O
PE
RA
TIO
NS
for
the
Yea
r E
nd
ed A
ug
ust
31,
201
5 (in
dol
lars
)
2015
Inst
ruct
ion
12
Sch
oo
l Ju
risd
icti
on
Co
de:
6015
Exp
ense
d IM
R,
Un
sup
po
rted
2015
Uti
litie
s M
od
ula
r U
nit
Am
ort
izat
ion
S
up
po
rted
TO
TA
L
EX
PE
NS
ES
Cu
sto
dia
lM
ain
ten
ance
and
Rel
oca
tio
ns
&&
Oth
er
Cap
ital
& D
ebt
Op
erat
ion
s an
d
Tel
eco
mm
.L
ease
Pay
men
tsE
xpen
ses
Ser
vice
sM
ain
ten
ance
Un
cert
ific
ated
sal
arie
s an
d w
ages
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Un
cert
ific
ated
ben
efit
s-
$
-
$
-
$
-
$
-
$
-
$
-
$
Su
b-t
ota
l Rem
un
erat
ion
-$
-$
-$
-$
-$
-$
-$
Su
pp
lies
and
ser
vice
s7,
358
$
137,
610
$
1,
839
$
-$
10,5
30$
157,
337
$
15
7,33
7$
Ele
ctri
city
19,6
50$
19,6
50$
19,6
50$
Nat
ura
l gas
/hea
tin
g f
uel
14,7
42$
14,7
42$
14,7
42$
Sew
er a
nd
wat
er2,
829
$
2,82
9$
2,
829
$
Tel
eco
mm
un
icat
ion
s1,
249
$
1,24
9$
1,
249
$
Insu
ran
ce13
,525
$
13
,525
$
13
,525
$
AS
AP
mai
nte
nan
ce &
ren
ewal
pay
men
ts-
$
-
$
Am
ort
izat
ion
of
tan
gib
le c
apit
al a
sset
s
Sup
port
ed60
,663
$
60
,663
$
Uns
uppo
rted
-$
-$
-$
To
tal A
mo
rtiz
atio
n-
$
-
$
60
,663
$
60
,663
$
Inte
rest
on
cap
ital
deb
t
Sup
port
ed-
$
-
$
Uns
uppo
rted
-$
-$
-$
Leas
e pa
ymen
ts fo
r fa
cilit
ies
6,00
0$
6,
000
$
6,00
0$
Oth
er in
tere
st c
har
ges
-$
-$
-$
Lo
sses
on
dis
po
sal o
f ca
pit
al a
sset
s-
$
-
$
-
$
TO
TA
L E
XP
EN
SE
S7,
358
$
137,
610
$
40
,309
$
6,
000
$
24,0
55$
-$
215,
332
$
60
,663
$
27
5,99
5$
Sch
ool b
uild
ings
4,05
5.0
Non
sch
ool b
uild
ings
0.0
All
expe
nses
rel
ated
to a
ctiv
ities
und
erta
ken
to k
eep
the
scho
ol e
nviro
nmen
t and
mai
nten
ance
sho
ps c
lean
and
saf
e.
All
expe
nses
ass
ocia
ted
with
the
repa
ir, r
epla
cem
ent,
enha
ncem
ent a
nd m
inor
con
stru
ctio
n of
bui
ldin
gs, g
roun
ds a
nd e
quip
men
t co
mpo
nent
s. T
his
incl
udes
reg
ular
and
pre
vent
ativ
e
mai
nten
ance
und
erta
ken
to e
nsur
e co
mpo
nent
s re
ach
or e
xcee
d th
eir
life
cycl
e an
d th
e re
pair
of b
roke
n co
mpo
nent
s. M
aint
enan
ce e
xpen
ses
excl
ude
oper
atio
nal c
osts
rel
ated
to
expe
nsed
IMR
& M
odul
ar U
nit r
eloc
atio
ns, a
s th
ey a
re r
epor
ted
on s
epar
atel
y.
All
expe
nses
rel
ated
to e
lect
ricity
, nat
ural
gas
and
oth
er h
eatin
g fu
els,
sew
er a
nd w
ater
and
all
form
s of
tele
com
mun
icat
ions
.
All
oper
atio
nal e
xpen
ses
asso
ciat
ed w
ith n
on-c
apita
lized
Infr
astr
uctu
re M
aint
enan
ce R
enew
al p
roje
cts,
mod
ular
uni
t (po
rtab
le)
relo
catio
n, a
nd p
aym
ents
on
leas
ed fa
cilit
ies.
All
expe
nses
rel
ated
to th
e ad
min
istr
atio
n of
ope
ratio
ns a
nd m
aint
enan
ce in
clud
ing
(but
not
lim
ited
to)
cont
ract
adm
inis
trat
ion
, cle
rical
func
tions
, neg
otia
tions
, sup
ervi
sion
of e
mpl
oyee
s
& c
ontr
acto
rs, s
choo
l fac
ility
pla
nnin
g &
pro
ject
'adm
inis
trat
ion'
, adm
inis
trat
ion
of jo
int-
use
agre
emen
ts, a
nd a
ll ex
pens
es r
ela
ted
to e
nsur
ing
com
plia
nce
with
hea
lth a
nd s
afet
y st
anda
rds,
code
s an
d go
vern
men
t reg
ulat
ions
.
All
expe
nses
rel
ated
to s
uppo
rted
cap
ital a
sset
s am
ortiz
atio
n an
d in
tere
st o
n su
ppor
ted
capi
tal d
ebt.
SQ
UA
RE
ME
TR
ES
SC
HE
DU
LE
OF
PL
AN
T O
PE
RA
TIO
NS
AN
D M
AIN
TE
NA
NC
E E
XP
EN
SE
Sfo
r th
e Y
ear
En
ded
Au
gu
st 3
1, 2
015
(in
do
llars
)
Fac
ility
Pla
nn
ing
&
Op
erat
ion
s A
dm
inis
trat
ion
SU
B-T
OT
AL
O
per
atio
ns
&
Mai
nte
nan
ce
Cu
sto
dia
l:
No
te:
Su
pp
ort
ed C
apit
al &
Deb
t S
ervi
ces:
Fac
ility
Pla
nn
ing
& O
per
atio
ns
Ad
min
istr
atio
n:
Exp
ense
d IM
R &
Mo
du
lar
Un
it R
elo
cati
on
& L
ease
Pm
ts:
Uti
litie
s &
Tel
eco
mm
un
icat
ion
s:
Mai
nte
nan
ce:
13
School Jurisdiction Code: 6015
Actual Actual2014/2015 2013/2014
FEES
Transportation fees $0 $0
Basic instruction supplies (text books, including lost or replacement fees, course materials) $25,373 $25,238
Technology user fees $0 $0
Alternative program fees $0 $0
Fees for optional courses (band, art, etc.) $2,212 $2,120
Fees for students from other boards $0 $0
Tuition fees (international & out of province) $0 $0
Kindergarten & preschool $0 $0
Extracurricular fees (sports teams and clubs) $2,698 $2,828
Field trips (related to curriculum) $38,346 $46,676
Lunch supervision fees $0 $0
Locker rental; locks; student ID; uniforms; library, student union, and fitness fees $0 $0
Other (describe)* $0 $0
Other (describe)* $0 $0
Other (describe)* $0 $0
TOTAL FEES $68,629 $76,862
Actual Actual
2014/2015 2013/2014
Cafeteria sales, hot lunch, milk programs $16,284 $15,594
Special events, graduation, tickets $0 $0
Student travel (international, recognition trips, non-curricular) $0 $0
$3,781 $2,786
$0 $0
$0 $0
Other (describe) $0 $0
Other (describe) $0 $0
Other (describe) $0 $0
TOTAL $20,065 $18,380
Please disclose amounts paid by parents of students that are recorded as "Other sales and services" or "Other revenue" (rather than fee revenue):
Sales or rentals of other supplies/services (clothing, agendas, yearbooks)
*PLEASE DO NOT USE "SCHOOL GENERATED FUNDS" AS A CATEGORY
UNAUDITED SCHEDULE OF FEE REVENUEfor the Year Ending August 31, 2015 (in dollars)
Adult education revenue
Child care & before and after school care
14
6015
Funded Students in ProgramREVENUES
Alberta Education allocated funding -$ -$ -$ 11,673$ -$ Other funding allocated by the board to the program -$ -$ -$ -$ -$ TOTAL REVENUES -$ -$ -$ 11,673$ -$
EXPENSES (Not allocated from BASE, Transportation, or other funding)Instructional certificated salaries & benefits -$ -$ -$ 51,728$ Instructional non-certificated salaries & benefits -$ -$ -$ -$ SUB TOTAL -$ -$ -$ 51,728$ Supplies, contracts and services -$ -$ -$ -$ Program planning, monitoring & evaluation -$ -$ -$ -$ Facilities (required specifically for program area) -$ -$ -$ -$ Administration (administrative salaries & services) -$ -$ -$ -$ Other (please describe) -$ -$ -$ -$ Other (please describe) -$ -$ -$ -$ TOTAL EXPENSES -$ -$ -$ 51,728$ NET FUNDING SURPLUS (SHORTFALL) -$ -$ -$ (40,055)$
UNAUDITED SCHEDULE OF DIFFERENTIAL FUNDINGfor the Year Ended August 31, 2015 (in dollars)
PROGRAM AREA
First Nations, Metis & Inuit
(FNMI)ECS Program Unit
Funding (PUF)
English as a Second Language
(ESL)Inclusive
Education
Small Schools by Necessity
(Revenue only)
15
Sch
oo
l Ju
risd
icti
on
Co
de:
6015
EX
PE
NS
ES
TO
TA
L
1O
ffice
of t
he s
uper
inte
nden
t-
$
74
,351
$
-
$
74
,351
$
-
$
-
$
-
$
74
,351
$
2E
duca
tiona
l adm
inis
trat
ion
(exc
ludi
ng s
uper
inte
nden
t)-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
3B
usin
ess
adm
inis
trat
ion
-$
84,8
56$
-$
84,8
56$
-$
-$
-$
84,8
56$
4B
oard
gov
erna
nce
(Boa
rd o
f Tru
stee
s)-
$
3,
079
$
-$
3,07
9$
-
$
-
$
-
$
3,
079
$
5In
form
atio
n te
chno
logy
-$
-$
-$
-$
-$
-$
-$
-$
6H
uman
res
ourc
es-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
7C
entr
al p
urch
asin
g, c
omm
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I '
NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
1. Authority and Purpose The Society delivers education programs under the authority of the School Act, Revised Statutes of Alberta 2000, Chapter S-3.
The Society receives instruction and support allocations under Education Grants Regulation (AR 12012008) The regulation allows for the setting of conditions and use of grant monies. The
Society is limited on certain funding allocations and administration expenses.
2. Summary of Significant Accounting Policies These financial statements have been prepared in accordance with the CICA Canadian public sector accounting standards (PSAS). The financial statements have, in management's opinion, been properly prepared within reasonable limits of materiality and within the framework of the accounting policies summarized below:
A. Basis of Consolidation The Fundraising Association of New Horizons School is not a controlled entity and has not been consolidated with the Society's financial statements.
B. Cash and Cash Equivalents Cash and cash equivalents include cash and investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of change in value. These short-term investments have a maturity of three months or less at acquisition and are held for the purpose of meeting short-term cash commitments rather than for investing.
C. Portfolio Investments The Society has investments in GIC's that have a maturity of greater than 3 months. GIC's are reported at cost or amortized cost.
Detailed information regarding portfolio investments is disclosed in Note 4.
D. Tangible Capital Assets Tangible capital assets acquired or constructed are recorded at cost which includes amounts that are directly related to the acquisition, design, construction, development, improvement or betterment of the asset. Cost also includes overhead directly attributable to construction as well as interest costs that are directly attributable to the acquisition or construction of the asset.
Donated tangible capital assets are recorded at their fair market value at the date of donation, except in circumstances where fair value cannot be reasonably determined. when they are then recognized at nominal value. Transfers of tangible capital assets from related parties are recorded at original cost less accumulated amortization.
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NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
2. Significant Accounting Policies (continued)
D. Tangible Capital Assets (continued) Sites and buildings are written down to residual value when conditions indicate they no longer contribute to the ability of the Society to provide services or when the value of future economic benefits associated with the sites and buildings are less than their net book value. For Supported assets, the write-downs are accounted for as reductions to Expended Deferred Capital Revenue.
Tangible capital assets with costs in excess of $5,000 are capitalized.
Leases that, from the point of view of the lessee, transfer substantially all the benefits and risks incident to ownership of the property to the Board are considered capital leases. These are accounted for as an asset and an obligation. Capital lease obligations are recorded at the present value of the minimum lease payments excluding executor costs. The discount rate used to determine the present value of the lease payments is the lower of the Society's rate for incremental borrowing or the interest rate implicit in the lease.
Buildings includes building, land and site improvements
Tangible capital assets are amortized over their estimated useful lives on a straight-line basis, at the following rates:
Buildings Equipment and Furnishings
4% 20%
Leasehold improvements are amortized on a straight-line basis over the remaining term of the lease.
E. Deferred Revenue Deferred revenue includes contributions received for operations which have stipulations that meet the definition of a liability per Public Sector Accounting Standard (PSAS) PS 3200. These
contributions are recognized by the Society once it has met all eligibility criteria to receive the contributions. When stipulations are met, deferred revenue is recognized as revenue in the fiscal year in a manner consistent with the circumstances and evidence used to support the initial recognition of the contributions received as a liability.
Deferred revenue also include contributions for expended capital expenditures. Expended Deferred Capital Revenue represent externally restricted supported capital funds that have been expended but have yet to be amortized over the useful life of the related capital asset. Amortization over the useful life of the related capital asset is due to certain stipulations related to the contributions that require that the school jurisdiction to use the asset in a prescribed manner over the life of the associated asset.
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NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
2. Significant Accounting Policies (continued)
F. Employee Future Benefits The Society provides certain post-employment benefits including vested and non-vested benefits for certain employees pursuant to certain contracts and union agreements.
The Society accrues its obligations and related costs including both vested and non-vested benefits under employee future benefit plans. Benefits include defined-benefit retirement plans, plans. The future benefits cost is actuarially determined using the projected unit credit method pro-rata on service and using management's best estimate of expected salary escalation, benefit usage, termination and retirement rates and mortality. The discount rate used to measure obligations is based on the cost of borrowing.
G. Operating and Capital Reserves Certain amounts are internally or externally restricted for future operating or capital purposes. Transfers to and from reserves are recorded when approved by the Board of Directors. Capital reserves are restricted to capital purposes and may only be used for operating purposes with approval by the Minister of Education. Reserves are disclosed in the Schedule of Changes in Accumulated Surplus.
H. Revenue Recognition Revenues are recorded on an accrual basis. Instruction and support allocations are recognized in the year to which they relate. Fees for services related to courses and programs are recognized as revenue when such courses and programs are delivered.
Volunteers contribute a considerable number of hours per year to schools to ensure that certain programs are delivered, such as kindergarten, lunch services and the raising of school generated funds. Contributed services are not recognized in the financial statements.
Eligibility criteria are criteria that the Society has to meet in order to receive certain contributions. Stipulations describe what the Society must perform in order to keep the contributions. Contributions without eligibility criteria or stipulations are recognized as revenue when the contributions are authorized by the transferring government or entity. Contributions with eligibility criteria but without stipulations are recognized as revenue when the contributions are authorized by the transferring government or entity and all eligibility criteria have been met.
Contributions with stipulations are recognized as revenue in the period the stipulations are met, except when and to the extent that the contributions give rise to an obligation that meets the definition of a liability in accordance with Section PS 3200. Such liabilities are recorded as deferred revenue.
I. Expenses Expenses are reported on an accrual basis. The cost of all goods consumed and services received during the year is expensed.
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NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
2. Significant Accounting Policies (continued)
I. Expenses (continued) Actual salaries of personnel assigned to two or more programs are allocated based on the time spent in each program. Employee benefits and allowances are allocated to the same programs, and in the same proportions, as the individual's salary. Supplies and services are allocated based on actual program identification.
J. Pensions Pension costs included in these statements comprise the cost of employer contributions for current service of employees during the year.
The current and past service costs of the Alberta Teachers Retirement Fund are met by contributions by active members and the Government of Alberta. Under the terms of the Teachers Pension Plan Act, the Society does not make pension contributions for certificated staff. The Government portion of the current service contribution to the Alberta Teachers Retirement Fund on behalf of the jurisdiction is included in both revenues and expenses. For the School year ended August 31, 2014, the amount contributed by the Government was $133,544 (2013 - $134,276).
K. Program Reporting The Society's operations have been segmented as follows:
ECS Instruction: The provision of Early Childhood Services educational instructional services that fall under the basic public education mandate.
Grade 1-12 Instruction: The provision of instructional services for grades 1-12 that fall under the basic public education mandate.
Plant Operations and Maintenance: The operation and maintenance of all school building and maintenance shop facilities.
Transportation: The provision of regular and special education bus services (to and from school), whether contracted or board operated, including transportation facilities.
Board & System Administration: The provision of board governance and system-based I central office administration.
External Services: All projects, activities, and services offered outside the public education mandate for ECS children and students in grades 1-12. Services offered beyond the mandate for the mandate for public education are to be self-supporting, and Alberta Education funding may not be utilized to support these programs.
The allocation of revenues and expenses are reported by program, source, and object on the Schedule of Program Operations. Respective instruction expenses include the cost of certificated teachers, non-certificated teaching assistants as well as proportionate share of supplies & services, school administration & instruction support, and system instructional support.
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i (
NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
2. Significant Accounting Policies (continued)
L. Financial Instruments A contract establishing a financial instrument creates, at its inception, rights and obligations to receive or deliver economic benefits. The financial assets and financial liabilities portray these rights and obligations in the financial statements. The Society recognizes a financial instrument when it becomes a party to a financial instrument contract.
All financial assets and liabilities are recorded at cost or amortized cost and the associated transaction costs are added to the carrying value of items in the cost or amortized cost upon initial recognition. The gain or loss arising from derecognition of a financial instrument is recognized in the Statement of Operations. Impairment losses such as write-downs or write-offs are reported in the Statement of Operations.
Financial instruments consist of cash and cash equivalents, accounts receivable, portfolio investments, accounts payable and accrued liabilities. Unless otherwise noted, it is management's opinion that the Society is not exposed to significant credit and liquidity risks, or market risk, which includes currency, interest rate and other price risks.
Liquidity risk is the risk that the Society will encounter difficulty in meeting obligations associated with financial liabilities. The Society enters into transactions to purchase goods and services on credit, and leases office equipment from various creditors for which repayment is required at various maturity dates. Liquidity risk is measured by reviewing the Society's future net cash flows for the possibility of a negative net cash flow. The Society manages the liquidity risk resulting from accounts payable through the preparation and monitoring of budgets, and maintaining Guaranteed Investment Certificates
M. Measurement Uncertainty The precise determination of many assets and liabilities is dependent on future events. As a result the preparation of financial statements for a period involves the use of estimates and approximations, which have been made using careful judgment. Actual results could differ from those estimates. Significant areas requiring the use of management estimates relate to the potential impairment of assets, rates for amortization and estimated employee future benefits.
3. Accounts and Grants Receivable
Federal Government - Goods and Services Tax Recoverable Government of Alberta - Alberta Education Interest Receivable Other
2015
$18,947 7,000 3,114 4,350
$33,411
2014
$13,406 1,000 4,595
504
$19,505
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' ( \ . NEW HORIZONS CHARTER SCHOOL SOCIETY
NOTES TO FINANCIAL STATEMENTS August 31, 2015
4. Portfolio Investments Portfolio Investments consists of Guaranteed Investment Certificates with an amortized cost of $611,220 (2014 - $757,759) maturing within 7 months. The GIC's have an average effective yield of 0.83% (2014 - 1.2%).
It is management's opinion that there has been no impairment during the year.
5. Accounts Payable and Accrued Liabilities
Trade Payables Elk Island Public School Regional Division No 14. Elk Island Catholic Separate Regional Division No. 41 Salaries & Benefit Costs
6. Deferred Revenue
Opening Funds Balance Received
School Generated Funds (Note 11) $2,095 $0
Prepaid School Fees 1, 142 0
3,237 0 Expended Deferred
Capital Revenue 1,182,929 265,627
$1, 186, 166 $265,627
Opening Funds Balance Received
School Generated Funds (Note 11) $2,095 $0
Prepaid School Fees 0 1, 142
2,095 1,142 Expended Deferred
Capital Revenue 1,243,592 0
$1,245,687 $1,142
2015 2014
$65,753 $22,538 12,047 0 3,478 2,812
0 7,294
$81,278 $32,644
2015
Funds Funds Closing Expended Returned Balance
$0 $0 $2,095 1,142 0 0
1, 142 0 2,095
60,663 1,122,266 265,627
$61,805 $1, 122,266 $267,722
2014
Funds Funds Closing Expended Returned Balance
$0 $0 $2,095 0 0 1,142
0 0 3,237
60,663 0 1,182,929
$60,663 $0 $1,186,166
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• ( 1' i
NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
7. Tangible Capital Assets
Leasehold Building Improvements Equipment 2015 2014
Historical Cost Opening Balance $1,516,575 $18,642 $6,604 $1,541,821 $1,541,821 Additions 288,989 0 13, 101 302,090 0 Transfers in 265,627 0 0 265,627 0 Transfers (out) (1,516,575) 0 0 (1,516,575) 0 Disposal including
Write-offs 0 (18,642) 0 (18,642) 0
Ending Balance $554,616 $0 $19,705 $574,321 $1,541,821
Accumulated Amortization Opening Balance 333,646 18,642 6,604 $358,892 $295,704 Amortization Expense 60,664 0 0 60,664 63, 188 Transfers (out) (394,310) 0 0 (394,310) 0 Disposal including
Write-offs 0 (18,642) 0 (18,642) 0
0 0 6,604 6,604 358,892
Net Book Value $554,616 $0 $13, 101 $567,717 $1, 182,929
8. Accumulated Surplus Detailed information related to accumulated surplus is available on the Schedule of Changes in Accumulated Surplus. Accumulated surplus is summarized as follows:
2015 2014
Operating Reserves Plant, Operations and Maintenance $144,244 $196,124
Board System and Administration 134,995 113,737
Maternity Leave 40,000 40,000
319,239 349,861
Unrestricted Surplus 227,335 541,864
Invested in Tangible Capital Assets 302,091 0
Capital Reserve 109,817 105,690
Accumulated Surplus $958,482 $997,415
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" t " A
NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
8. Accumulated Surplus (continued) Accumulated suplus from operations inlcudes school generated funds of $9,989 (2014 - $9,791). These funds are raised at the school level and are not available to spend at the board level. The School jurisdiction's adjusted surplus from operations is as follows:
Accumulated Surplus from Operations School Generated Funds included in Accumulated Surplus (Note 10)
Adjusted Accumulated Surplus from Operations
9. Contractual Obligations
Contracted Services Office Equipment Building Projects
2015
$958,482 (9,989)
$948,493
2015
$164,314 24,058
0
$188,372
2014
$997,415 (9,791)
$987,624
2014
$208,992
9,568 7,350
$225,910
The Society has leased office equipment with a cost of $1,257 per quarter, expiring June, 2020.
The Society has entered into a 5 year agreement for the provision of contracted superintendent services, expiring June 30, 2017. The Society has also entered into a 2 year agreement for the provision of building operations services expiring June 30, 2017.
The Society has entered into one-year contracts for the provision of building maintenance and HVAC maintenance. These contracts expire June 30, 2016.
The Society has entered into a rental agreement with Elk Island Catholic Separate Regional Division No 41. regarding the rental of a school, commencing June 13, 2014. This agreement will continue until such time as the official transfer of the school to the Society is in place.
Estimated payment requirements for each of the next five years and thereafter are as follows:
Office Contracted Equipment Services Total
2016 $4,784 $94,174 $98,958 2017 5,028 70, 140 75,168 2018 5,028 0 5,028 2019 5,028 0 5,028 2020 4,190 0 4,190
$24,058 $164,314 $188,372
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.. f I .. NEW HORIZONS CHARTER SCHOOL SOCIETY
NOTES TO FINANCIAL STATEMENTS August 31, 2015
10. School Generated Funds Deferred Accumulated Revenue Surplus 2015 2014
Balance, Beginning of Year $2,095 $9,791 $11,886 $11,307 Gross Receipts:
Fees 0 17,909 17,909 23,932 Other Sales and Services 0 3,173 3,173 2,480 Fundraising 0 5,567 5,567 8,096
Total Gross Receipts 0 26,649 26,649 34,508
Expenditures: Total Direct Costs Including Cost
of Goods Sold to Raise Funds 0 2,243 2,243 2,254 Uses of Funds 0 24,208 24,208 31,675
Total Expenditures 0 26,451 26,451 33,929
Balance, End of Year $2,095 $9,989 $12,084 $11,886
11. Related Party Transactions All entities that are consolidated in the accounts of the Government of Alberta are related parties of school jurisdictions. These include government departments, health authorities, post-secondary institutions and other school jurisdictions in Alberta.
Balances Transactions t-manc1a1 Assets Liabilities Revenue Expenses
Government of Alberta Alberta Education
Grant revenue and expenses $7,000 $0 $2,155,147 $0 Unexpended Deferred Capital
Revenue 0 0 60,663 0 Other Alberta School Divisions
Edmonton School Division No. 7 0 0 0 8,395 Elk Island Catholic Separate
Regional Division No. 41 0 3,478 0 5,606 Elk Island Public Schools Regional
Division No. 14 0 12,047 0 114,151
Total 2013/2014 $7,000 $15,525 $2,215,810 $128,152
Total 2012/2013 $0 $0 I $2, 124, 165 $139,883
During the year, the Society transferred Buildings with a net book value of $1, 122,265 to Elk Island Public Schools Regional Division No. 14. This transfer has been recorded net of Expended Deferred Capital Allocations of $1, 122,265.
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12.
NEW HORIZONS CHARTER SCHOOL SOCIETY NOTES TO FINANCIAL STATEMENTS
August 31, 2015
Economic Dependence on Related Third Party The Society's primary source of income is from the Alberta Government. The Society's ability to continue viable operations is dependant on this funding.
13. Remuneration and Monetary Incentives The Society has paid or accrued expenses for the year ended August 31, 2015 to or on behalf of the following positions and persons, in groups as follows:
Negotiated Perfonnance ERIP's/ FTE Remuneration Benefits Allowances Bonuses Other Expenses
Board Members: Chair: Clarke, Jason 1.00 $0 $0 $0 $0 $0 Director: Thomson, Kim 1.00
Director: Bosch, Ryan 1.00 Director: Karbonik, Carole 0.80 Director: Loh, Jay-Lynn 0.20
Director: Mclean, Dave 1.00
Director: Vogel, Christine 0.20
Director: Weiss, Jill 1.00 Director: Qualie, Vicky 0.80
Subtotal 7.00 0 0 0 0 0
Superintendent: Falk, Don 0.40 73,152 0 0 0 0 Secretary IT reasurer: de Kleine, G. 0.60 74,580 0 0 0 0
Certificated Teachers 12.10 1,126,448 226,912 0 0 0
Non-certificated - Other 6.10 197,539 28,747 0 0 0
Total 26.20 $1,471,719 $255,659 $0 $0 $0
Superintendent and Secretaryrfreasurer remuneration is classifies as services, contracts and supplies as these services are provided on a contract basis.
14. Budgeted Amounts The budget was prepared by the Society and approved by the Board of Directors on
May 26, 2014.
15. Comparative Figures The comparative figures have been reclassified where necessary to conform to the 2015
presentation.
$0
575
575
1,199
0 0 0
$1,774
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