Prince Albert Roman Catholic Separate School Division No. 6 Statement of Financial Position as at August 31, 2019 Financial Assets Cash and Cash Equivalents Accounts Receivable (Note 7) Portfolio Investments (Note 3) Total Financial Assets Liabilities Accounts Payable and Accrued Liabilities (Note 8) Long-Term Debt (Note 9) Liability for Employee Future Benefits (Note 5) Deferred Revenue (Note 10) Total Liabilities (Net Debt) Net Financial Assets Non-Financial Assets Tangible Capital Assets (Schedule C) Prepaid Expenses Total Non-Financial Assets Accumulated Surplus (Note 12) Contingent Liabilities (Note 14) Contractual Obligations and Commitments (Note 15) The accompanying notes and schedules are an integral part of these statements. Approved by the Board: 2019 $ 3,768,673 809,064 46,456 4,624,193 754,881 1,783,334 1,424,500 920,352 4,883,067 (258,874) 34,183,087 140,461 34,323,548 34,064,674 2018 $ 3,427,244 400,474 43,753 3,871,471 455,014 1,890,740 1,397,500 52,702 3,795,956 75,515 35,360,111 124,903 35,485,014 35,560,529 REVENUES Property Taxes and Other Related Grants Tuition and Related Fees School Generated Funds Complementary Services (Note 11) Other Total Revenues (Schedule A) EXPENSES Prince Albert Roman Catholic Separate School Division No. 6 Statement of Operations and Accumulated Surplus from Operations for the year ended August 31, 2019 Governance Administration Instruction Plant Transportation School Generated Funds Complementary Services (Note 11) Other Total Expenses (Schedule B) Operating Deficit for the Year Accumulated Surplus from Operations, Beginning of Year Accumulated Surplus from Operations, End of Year The accompanying notes and schedules are an integral part of these statements. 2019 Budget $ (Note 13) 2,831,005 26,723,613 166,707 350,000 785,980 71,800 30,929,105 144,802 1,628,935 22,910,432 4,956,098 1,7 350,000 725,479 84,125 32,589,311 (1,660,206) 35,560,529 33,900.323 2019 Actual 2,882,539 26,687,615 180,917 1,120,806 775,933 700,358 32,348,168 163,558 1,503,201 23,066,736 5,154,355 1,055,276 822,509 83,765 33,844,023 (1,495,855) 35,560,529 34,064,674 2018 Actual $ 1,216,168 28,529,827 210,457 987,387 776,320 114,979 31,835,138 131,686 1,642,800 23,059,888 4,486,792 1,981,976 883,152 762,074 296,461 33,244,829 (1,409,691) 36,970,220 35,560,529
The Minister’s Office has asked for a briefing note on the financial health of Prince Albert Roman Catholic Separate School Division No. 6. Please review their attached 2018-19 audited financial statements and provide a briefing note on the financial health of the school division focusing on their cash position and accumulated surplus including any PMR maintenance project allocation, designated assets, and their unrestricted surplus.
2019 2018
$ $
OPERATING ACTIVITIES
Operating Deficit for the Year (1,495,855) (1,409,691)
Add Non-Cash Items Included in Deficit (Schedule D) 1,668,313 1,696,420
Net Change in Non-Cash Operating Activities (Schedule E) 770,369 (94,695)
Cash Provided by Operating Activities 942,827 192,034
CAPITAL ACTIVITIES
Cash Used to Acquire Tangible Capital Assets (491,289) (410,783)
Cash Used by Capital Activities (491,289) (410,783)
INVESTING ACTIVITIES
Cash Used to Acquire Portfolio Investments (2,703) (752)
Cash Used by Investing Activities (2,703) (752)
FINANCING ACTIVITIES
Repayment of Long-Term Debt (107,406) (102,904)
Cash Used by Financing Activities (107,406) (102,904)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 341,429 (322,405)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 3,427,244 3,749,649
CASH AND CASH EQUIVALENTS, END OF YEAR 3,768,673 - 3,427,244
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