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Objective: Review Board governance practices and the Board’s capacity in respect of financial matters and effective fiscal management Section Current state findings: ► ► Roles and responsibilities are documented and generally understood, and decision-making is based on sufficient information Execution of roles and responsibilities inefficient and unclear 7.4.2 ► Committees operate on a consensus basis with little to distinguish between voting members, the Board and non-voting stakeholders ► The Board has not established an Audit Committee to provide objective financial oversight ► There is an opportunity to update their Strategic Plan in the current fiscal year and integrate this plan with operational plans and performance measurement processes across the district Top 4 recommen dations: ► Board further formalize Board and Standing Committee meeting protocols to clarify meeting outcomes and staff actions / follow-up 7.2 ► Board implement an Audit Committee as a sub-committee of the Board with external members 7.3 ► Board update its Strategic Plan and integrate it with operational plans, a performance measurement framework, a Board self-assessment framework, and a formal risk management process 7.4 ► Board implement a formal risk management process or framework 7.5 The rest of this section outlines the full details on the analysis supporting the findings and recommendations. 178 Confidential | All Rights Reserved | EY
7.4 Key findings and recommendations 7.4.1 Objective I: VBE management action on previous recommendations Finding 7.1: Minimal action or evidence of progress in three key governance areas While significant progress has been made in a number of areas, as outlined below, there was minimal action or evidence of progress in three key governance areas, specifically: ► ► ► Audit Committee: The Board has not established an Audit Committee to provide objective oversight of financial reporting and compliance Board Performance and Self-Assessment: The Board has not implemented a process to assess and identify the collective competency of the Trustees to ensure there are no competency gaps in the current complement, and does not perform any self-assessment activities Risk Management: The Board has not implemented a formal Enterprise Risk Management process or framework at VBE, and risk management continues to be an informal process Specific to the 2010 Review conducted by the Comptroller General, of the 22 recommendations that were deemed in scope with regard to Board governance, two were deemed to be fully implemented, 16 were in progress, and four were deemed to have had minimal progress made. An analysis of previous audit and review reports that contained findings relevant to the governance and financial management of VBE were reviewed, specifically the 2010 VBE Review conducted by the Office of the Comptroller General of BC and the 2012/2015 Resource Allocation Review by external advisor PwC. Based on this analysis, we identified findings where: ► ► ► Minimal or no progress had been made to address the recommendation, and no formal Board response had been issued Some progress has been made to address the recommendation, or were currently in-progress An initiative had been fully implemented with the objective of addressing the recommendation Minimal progress Given our findings and recommendations are aligned with previous recommendations, and in the interest of brevity, we have provided an analysis in the sections referenced below: Audit committee The Comptroller General highlighted in the 2010 VBE Review that the Board of Trustees should establish an Audit Committee to provide oversight and make recommendations in respect of the Board’s fiduciary responsibilities to the organization (Rec. 6); and restrict Audit Committee membership to no more than four Trustees, zero stakeholder representation, and supplemented with one or two external financial professionals to ensure the Committee has sufficient knowledge, skills, experience, and objectivity to effectively carry out the functions of the Committee (Rec. 7). Confidential | All Rights Reserved | EY 179
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DISCUSSION DRAFT - FOR ADVICE OF MI
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Contents 1. Executive summary .....
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Terms of reference ► ► ► ►
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FCI FTE IPP Internally Appropriated
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1. Executive summary Confidential |
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► ► ► Maintain significant ex
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Finding: The Initial Preliminary Pr
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Administrative, support and overhea
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Prior to implementing capacity rati
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contribute to sound fiscal manageme
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2. Background and context 2.1 Provi
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2.5 Project objectives and scope In
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3. Budget development and forecasti
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3.2.2 Out of scope The areas below
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Objective: Top recommendations: Rev
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$ million Chart 3.1 - Operating Sur
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services ► Tangible capital asset
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In this report where we refer to th
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3.4.2 Budget timeline 1) The Initia
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3.5 Multi-year forecasts 3.5.1 Fore
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3.5.2 Review of SY2014/15 and SY201
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Included in the revenue adjustments
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SY2016/17 and SY2017/18 forecast We
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4. Accumulated surpluses and defici
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4.2.2 Out of scope The areas below
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$ million 4.4 Review of historical
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History of forecasted deficits vs a
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Internally Appropriated Expenses Th
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EY was advised by VBE that operatin
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$ million $ million $ million To co
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Maintaining a net accumulated surpl
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School year SY2014/15 Accumulated S
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5. Administrative, support and over
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In the pages that follow, key findi
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Objective: Identify opportunities t
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5.4.2 Non - Provincial grant (MEd)
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Finding 5.2 VBE received a $0.06M g
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Finding 5.4 VBE is among the top di
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5.4.7 Tuition - offshore tuition fe
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Most school districts, including Va
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Finding 5.9 In absolute terms, VBE
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VBE’s Facilities team performed a
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5.4.13 Summary of revenue opportuni
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600 14.0% Operating expenditure Mil
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If VBE were to achieve the same lev
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Based on our analysis of the previo
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Table 5.5: VBE and Subset Districts
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Table 5.6 : VBE and Surrey average
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5.5.6 Services and supplies - servi
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5.5.8 Services and supplies - profe
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5.5.10 Services and supplies - dues
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5.5.12 Services and supplies - inte
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5.5.14 Services and supplies - util
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5.5.16 Cost efficiency initiatives
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Table 5.10: Management proposals 20
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Table 5.12: New initiatives Initiat
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Table 5.13: Implementation of Deloi
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Table 5.14: Summary of revenue and
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6. Capital asset management 6.1 Int
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6.2 Scope and approach 6.2.1 Work s
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Top recommen dations: VBE develop t
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Table 6.2: Summary of District’s
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6.4.3 Roles and responsibilities Th
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Current state Section Excess Surplu
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6.5.2 Capital project planning proc
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► 2013/14 Capital Plan covering t
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► ► The lengthy consultation pr
Page 139 and 140: Recommendation 6.8 The Ministry rev
Page 141 and 142: Finding 6.5: Reduction in excess su
Page 143 and 144: Number of Surplus seats In contrast
Page 145 and 146: Utilization Historical and Projecte
Page 147 and 148: Low utilization in the east (74%) a
Page 149 and 150: The assumptions that predicate the
Page 151 and 152: 6.6.5 Net annual cost savings throu
Page 153 and 154: This has a direct impact on the num
Page 155 and 156: Table 6.6: Summary of potential ann
Page 157 and 158: If the 2009 BC Assessment property
Page 159 and 160: ► A school with low enrolment may
Page 161 and 162: 6) Board decision Any decision to c
Page 163 and 164: uildings). 6.7 Seismic mitigation p
Page 165 and 166: Table 6.9: Summary of District’s
Page 167 and 168: Recommendation 6.26 Where VBE is ab
Page 169 and 170: aggressive capacity rationalization
Page 171 and 172: Age (Years) 6.8.2 Age of District
Page 173 and 174: In addition, VBE purports that thes
Page 175 and 176: 6.8.4 Reducing annual maintenance c
Page 177 and 178: Recommendation 6.33 Other school di
Page 179 and 180: access the upside of land re-develo
Page 181 and 182: Table 6.14: Summary of potential fi
Page 183 and 184: 7. Board governance 7.1 Introductio
Page 185 and 186: ► Accomplish goals designed to br
Page 187 and 188: 7.2.3 Methodology and approach Plan
Page 189: ► Leading practice and peer analy
Page 193 and 194: Board Priorities The Comptroller Ge
Page 195 and 196: These Standing Committees are addit
Page 197 and 198: to a hybrid of VBE’s People and S
Page 199 and 200: Board of Trustees’ performance se
Page 201 and 202: Recommendation 7.4.A Board of Trust
Page 203 and 204: Recommendation 7.5.B During the cou
Page 205 and 206: 8. Other matters All other matters
Page 207 and 208: 9. Summary of recommendations Ref R
Page 209 and 210: Ref Recommendation Ministry of Educ
Page 217 and 218: Appendices 9. Other matters Confide
Page 219 and 220: Document Overview of Class Size and
Page 221 and 222: Document Class size and student ach
Page 223 and 224: Document Vancouver Board of Educati
Page 225 and 226: APPENDIX C: Budget documents prepar
Page 227 and 228: Document 5 A Restoration Budget pre
Page 229 and 230: Vancouver Surrey Central Okanagan V
Page 231 and 232: APPENDIX F: Progress review of prev
Page 233 and 234: Previous recommendations ► ► po
Page 235 and 236: Previous recommendations ► ►
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