School Generated Funds

School Generated Funds are funds collected by the school for specific purposes or activities through fundraising, extracurricular activities, donations and user fees. The funds that are collected are spent on school projects, extra-curricular and/or student activities, and facility fees. Extracurricular fees are charged for sports teams, clubs, student unions or programs designed to broaden the school experience. Fundraising is often done by students and parents to alleviate the costs.

School Generated Funds may include funds held in trust and administered by the school for a Parent Advisory Committee (PAC).  At some schools, however, funds raised by a PAC may not be reflected in School Generated Fund reporting as some PACs may be incorporated societies and have their own accounts that are not maintained by school staff.

To see the 2016-2017 actual financial positions of the School Generated Funds, as well as the 2017-2018 plans for each school, please check our school websites under the Parent menus.

School Generated Funds Revenue and Expense Statement 2017-2018

Northern Lights Public Schools reports to its stakeholders the total revenue and expenses of School Generated Funds (SGF). These funds are collected from fundraising, extracurricular activities, donations and user fees.  The funds are expended on school projects, extra-curricular and/or student activities, and facility fees.  Extracurricular fees are charged for sports teams, clubs, student unions or programs designed to broaden the school experience. Fundraising is often done by students and parents to alleviate the costs. 

With the introduction of Bill 1 and the School Fees Regulation, a regulated approach to tracking school generated funds has been implemented.  This means more consistent and transparent practices in year to year recording of revenues and expenditures, leading to better continuity in reporting of year over year financial information.  In 2017-18 a decrease in both Other Sales and Fees, combined with static growth in other categories resulted in a reduction of overall revenue of $300,000.  This is represented by a decrease of SGF activities.  However, the schools maintained a consistent level of spending for all activities combined, resulting in a 8.9% reduction to School Generated reserves.  

Additional information is available in our 2017-2018 Audited Financial Statement.

Comparative information is available in a Provincial Rollup.

 

Source and Application of School Generated Funds (SGF)

 

 

2017-2018

 

2016-2017

         

Unexpended SGF, beginning of year

 

$1,756,667

 

$1,534,324

School generated funds revenue for the year

$2,001,839

 

$2,411,861

 

Donations received

$379,190

 

$298,050

 

Less: Direct costs

($601,018)

 

($686,479)

 
         

Net Additions to SGF

$1,780,010

 

$2,023,432

 
         

Net SGF Available for Spending

$3,536,677

 

$3,557,7568

 
         

Net SGF expended for discretionary purposes

$1,933,70

 

$1,830,876

 
         

Unexpended SGF, end of year

$1,602,977

 

$1,756,667