The Vancouver School Board’s Finance Committee was held the evening of Wednesday, January 12, 2022. 

The meeting began with an update on the 2021-2022 amended budget. District staff noted some changes in the budget as per the Ministry of Education operating grant requirements. 

Next, the committee heard an update on the District’s financial planning and administrative procedures. The following policies were released by the Ministry of Education in May 2021:

• K-12 Public Education Financial Planning and Reporting Policy
• K-12 Public Education Accumulated Operating Surplus Policy. 

In this update, District staff noted a separate Administrative Procedure 502 – Financial Planning and Reporting is required to meet the Ministry of Education’s requirements on public financial management policies. Read the about the procedure on page 16 of the agenda package.

The committee then heard a presentation on the District’s budget development process and timeline for the 2022-2021 preliminary annual budget. This presentation covered a variety of important topics such as provincial reporting standards, the District’s previous work on budget development, and outlined new budget timelines. 

At the end of the presentation, the committee asked questions about the budget process and timeline. A recommendation was then presented to the committee:

That the Finance Committee recommends to the Board of Education that the budget process and timeline presented and finalized at the January 12, 2022 meeting of the Committee be approved.

The committee approved this recommendation and noted the final budget process and timeline will be presented at the Board meeting of January 31, 2022.  

Watch the full proceedings

Read the full agenda package