FINANCE AND AUDIT COMMITTEE
PUBLIC MEETING
AGENDA

Wednesday, November 18, 2020 at 4:00 P.m. - 5:30 P.m.

School Board Office or Zoom (for the public)

1040 Hollywood Road S.

Kelowna, BC

Public Zoom Link: https://sd23.zoom.us/j/69888212970

Due to the COVID-19 Pandemic and social distancing guidelines, the public is invited to attend the meeting via Zoom. With limited space onsite, in-person attendance is for Trustees, staff and partner groups only.

 

The Central Okanagan Board of Education acknowledges that this meeting is being held on the unceded, Traditional Territory of the Okanagan People. 

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1.

AGENDA

Additions/Amendments/Deletions

2.

REPORTS/MATTERS ARISING

2.1

Finance and Audit Committee Public Meeting Report - October 21, 2020

(Attachment)

3.

PUBLIC QUESTION/COMMENT PERIOD

Due to space restrictions and the public invited to attend the meeting via Zoom, please email your public questions/comments to [e-mail] and include your first and last name with the following subject line: 'November 18, 2020 Finance and Audit Committee Public Query/Comment'.

4.

COMMITTEE MEMBERS QUERIES/COMMENTS

5.

DISCUSSION/ACTION ITEMS

5.1

2020-2021 Budget Timeline and Budget Development Principles

(Attachment)

STAFF RECOMMENDATION:

THAT: The Finance and Audit Committee recommends to the Board:

THAT: The Board of Education approve the 2020-2021 Budget Timeline as presented at the November 18, 2020 Finance and Audit Committee Meeting.

6.

DISCUSSION/INFORMATION ITEMS

6.1

Statement of Financial Information for June 30, 2020 (Draft)

(Attachment)

7.

COMMITTEE CORRESPONDENCE

8.

ITEMS REQUIRING SPECIAL MENTION

9.

RECOMMENDATIONS/REFERRALS TO THE BOARD/COORDINATING COMMITTEE/OTHER COMMITTEES

10.

ITEMS FOR FUTURE FINANCE AND AUDIT COMMITTEE MEETINGS

- Review of Investment Ratings for District's Investment Portfolio

September

• Presentation: Audited Financial Statements for the Fiscal Year
• Audited Financial Statements for the Fiscal year (Action Item)

October

• Financial Update at September 30^th

November

• School District No. 23 (Central Okanagan) Budget Development Principles
• School District No. 23 (Central Okanagan) Budget Development Timeline

January

• Amended Annual Budget for the Fiscal Year
• Ministry Recalculation Allocation – School District No. 23 and Provincial
• Financial Update at December 31^st
• Budget Survey development
• Annual Review of Committee's Mandate, Purpose and Function

February

• Budget Presentation

April (1st Meeting)

• Overview of Budget Allocation
• Budget Consultation Input Received
• Trustee Indemnity for the [Next school year] Fiscal Year

April (2nd Meeting)

• Central Okanagan School District Preliminary Budget Proposal – Superintendent’s Budget Recommendations
• Financial Report at March 31^st

May

• Auditor’s Report to the Finance and Audit Committee – Initial Communication on Audit Planning for the Year
• Annual CommunityLINK Allocations
• Financial Update - International Education Program

June 

• School District No. 23 (Central Okanagan) Annual Budget for the Fiscal Year

11.

FUTURE FINANCE AND AUDIT COMMITTEE MEETINGS

All meetings start at 4:00 pm.

January 20, 2021, February 17, 2021, April 7, 2021, April 21, 2021, May 19, 2021, June 16, 2021

September 22, 2021, October 20, 2021, November 17, 2021

12.

MEDIA QUESTIONS

Due to limited public seating and the encouragement for the media to attend via Zoom, please email your media questions to [e-mail] and include your first and last name with the following subject line: 'November 18, 2020 Finance and Audit Committee Meeting Media Query/Comment'.

Please note: Two in-person seats for the media will be reserved; however, you must reserve a seat via the Secretary-Treasurer's office at [e-mail] before Wednesday, November 18, 2020.

13.

ADJOURNMENT