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2005: B1 attachment - Financial Analysis and Accountability Branch

2005: B1 attachment - Financial Analysis and Accountability Branch

2005: B1 attachment - Financial Analysis and Accountability

SCHEDULE B THIS AGREEMENT made in duplicate the ___ of January 2005. BETWEEN : the Minister of Education (the “Ministry”) AND : the ____________________________________________________ (Name of board or school authority) (“the Board”) This agreement defines the terms and conditions of the funding provided to the Board under the Reporting Entity Project (the Project) to assist school boards in implementing the processes and procedures required to deliver the necessary financial information (including capital asset information) required for the consolidation of school board financial information into the provinces financial reports. These reports will include the Provincial Budget (starting in 2006-07) with associated multi-year (3 year) projections and updated quarterly projections and variance reporting as well as the Provincial Annual Report (starting in 2005-06). The Ministry will develop all processes, procedures and data collection mechanisms to correspond with and/or augment the existing reporting framework for school boards (Estimates, Revised Estimates and Financial Statements). The Board will provide to the Ministry as required the necessary financial information for consolidation into the provinces financial reports. The Ministry and the Board agree that the funding is subject to the following terms and conditions: 1. The agreement shall be in effect from the 3rd day of January 2005 up to and including the 31 st day of August 2007. 2. Upon receipt of the signed agreement, the ministry will pay the first installment listed in schedule II for the board. The 2nd and 3rd installments shall be included in the transfer payment to the board in September 2005 and September 2006 respectively subject to the availability of funds approved in the ministry’s printed estimates. The amount available will be confirmed each fiscal year by the Ministry once the printed estimates are tabled in the legislature. 3. The Board agrees to use the funds solely for the purposes as set out in the attached Schedule I. 1

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