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.

Accounting

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.

Payroll

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.

 

2021-2022 Budget

The Ottawa Catholic School Board approved a $605,509,000 balanced Operating Budget for 2021-2022, representing a 3.5% increase year over year. Salaries and benefits comprise 82% of the 2021-2022 Operating Budget expenditures. Total full-time-equivalent (FTE) staffing has increased by 3.6% over the 2020-2021 budget due to enrolment growth and system needs.

Highlights of Operating Budget 2021-2022

  • 6 Mental Health workers hired for temporary COVID-19 supports will become permanent staff
  • 16 additional staff to support two the two new Virtual Schools;
  • An Equity Consultant to support schools with the Equity, Diversity and Inclusion Framework and;
  • An Indigenous Consultant to support the Board Action Plan (BAP) for Indigenous learning in K-12.
  • $5.4 million to improve ventilation in schools of a two-year COVID-19 Resiliency Infrastructure Stream (CVRIS) federal funding investment
  • $2 million in additional student and staff devices to increase access to technology
  • Supports to implement a 2021 investment of $250,000 in Equity, Diversity and Inclusion (EDI) Resources for September 2021 to support the EDI Framework
  • $45,000 for additional resources to support equity in Children Support Schools
  • $34,000 for Student Senate initiatives to support inclusive practices in all high schools

Financial statements

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.