Finance and budget
Three divisions of Finance & Administration
Under the direction of the Superintendent of Finance and Administration, the Finance Department is responsible for the development and administration of policies to allocate human and financial resources to support learning for all students. The Finance Department consists of three (3) operating divisions: Finance and Budget; Accounting; and Payroll.
Finance and Budget
The Finance and Budget division is responsible for the preparation and administration of the annual school board budget, government grants and other revenues, financial statement issuance and government reporting, short and long-term financing (including debenture issues), legal, audit and banking services, and internal audit services. Additionally, this division manages school cafeteria services and the School Generated Funds system, support and reporting.
The Accounting division is responsible for the processing of supplier invoices, payment requisitions, expense reports, and petty cash, as well as accounts receivable, billing, cash receipts and deposits. Accounting also prepares financial statements and government reports, in addition to Federal (GST) and Provincial Sales Tax rebate applications.
The Payroll division is responsible for coordinating all aspects of payroll. Payroll staff ensure the administration of employees’ pension plans, prepares applicable government reports, remits deductions, dues and premiums to external agencies.
The Ottawa Catholic School Board approved a $584,777,000 balanced Operating Budget for the school year 2020-2021, representing a 4.6% increase year over year. Salaries and benefits comprise 82% of the 2020-2021 Operating Budget expenditures. Total full-time-equivalent staffing has increased by 3.2% over the 2019-2020 budget due to enrollment growth and system needs.
Highlights of Operating Budget 2020-2021
- Enhanced eLearning opportunities;
- 20 additional Educational Assistants to support student needs;
- 8 additional Resource Teachers;
- 1 additional Secondary Guidance Counsellor;
- Graduation Coach Program Pilot for Black Students;
- 45 First Nations, Metis and Inuit Studies sections bringing the total to 80-course selections;
- Elementary school budgets will increase by $1,000 per school to promote Community Outreach and ;
- $30,000 ($2,000 per secondary school) will continue to be directed to Student Senates to address school-based priorities;
- 1.2 million for COVID 19 contingency planning
Our Board maintains a system of internal controls designed to provide reasonable assurance that assets are safeguarded, transactions are properly authorized and recorded in compliance with legislative and regulatory requirements, and reliable financial information is available on a timely basis for preparation of consolidated financial statements. These statements are audited by an independent external auditor appointed by the Board, who provides their opinion on the Board’s consolidated financial statements.