The Vancouver School Board’s standing committee on finance held its first meeting of the school year on the evening of Wednesday, September 15, 2023. For meeting details, view the agenda package or watch the live stream.

There were two items on the agenda: a banking resolution for approval and review of the Audited Financial Statements of June 2023. 

To begin, staff presented a new banking resolution that will replace the previous resolution passed by the Board in 2018. This resolution is a requirement from the Bank of Montreal to align with the banks’ latest format. Changes were mostly surrounding wording with the most significant change being types of authorities being granted. The resolution outlines that two signatures are required to open or close accounts in the name of the school district and revoke or modify any or all authorizations. 

Trustee-members of the committee voted in favour to recommend the Board approve the banking resolution at the September 25 meeting. 

Staff then presented the audited financial statements of June 2023, along with a financial statement disclosure. The District received a clean audit and it is the opinion of the District’s auditor, KPMG, that the financial statements are in accordance with the financial reporting provisions of Section 23.1 of the Budget Transparency and Accountability Act of the Province of British Columbia.

The next finance committee meeting is November 8, 2023.

To keep up to date with all of the District’s committee and Board meetings, see the calendar for meeting dates, agendas and livestream links. All recordings of past meetings are available on the District’s YouTube channel.