Qualicum School District has received a "clean" audit for its annual financial statements.
The school board received a presentation by Leanne Souchuck of MacLean Pazicka Souchuck Chartered Professional Accountants during its meeting on Sept. 24.
“We did not find any material errors or misrepresentations in the financial statements that were prepared by the district and as a result we’ve issued a clean audit opinion," Souchuck said.
The school district had an operating deficit for the year of $428,000, she added.
The school district had an accumulated operating surplus at the end of the year, which totalled $1.2 million and has been appropriated for future uses, according to Souchuck's presentation.
Qualicum School District's operating revenues for the year were $58.9 million, she added, while its expenses were $59.2 million.
“During the year the district spent $57.7 million on salaries and benefits, it spent $12 million on services and supplies and $2.9 million on capital projects," Souchuck said.
Later in the meeting, the school board voted to approve the audited financial statements as presented.
Trustees also voted to use the remaining balance of $137,997 of the local capital fund to purchase white fleet vehicles for the school district.
Approximately six years ago, the school district sold some property and created a small local capital fund according to Ron Amos, secretary-treasurer. The school district has drawn on this fund for projects such as $200,000 towards the new Ballenas track.
The board also approved a motion to extend the appointment of MacLean Pazicka Souchuck Chartered Professional Accountants as the district’s auditors for a two-year term that includes the 2024 to 2025 and 2025 to 2026 fiscal years.
