Estimates Training Financial Analysis & Accountability Branch May 2012

2 Agenda  Review general annual reporting requirements  Review EFIS document sets availability  Review Financial Analysis & Accountability Branch (FAAB) Website Resource  Review how to complete your Estimates Submission  Review 2011/12 financial statement requirements as well as how to create a variance report (if time permits)

3 General Reporting Requirements Report TypeDue DateMethodology Service AgreementMay 30, 2012Mail / PDF EstimatesJune 30, 2012Mail / Active EFIS Submission Financial StatementsJuly 31, 2012Mail / Active EFIS Submission Health & Safety FundingAugust 31, 2012 or Fax Revised EstimatesNovember 30, 2012Mail / Active EFIS Submission

4 EFIS Reporting Cycles Availability CycleEFIS Document Set Availability Submission Due Date 2012/13 Estimates April 30, 2012 June 30, /12 Financial Statements May 31, 2012 July 31, /13 Revised Estimates September 30, 2012 November 30, 2012

5 FAAB Website Link

6 Review of EFIS Elements – 2012/13 Estimates Title Page Schedule 1 – Service Data Schedules / Data Elements Schedule 2 – Expenditure Schedules Schedule 3 – Entitlement Calculation Schedule 4 - Supplementary Information Schedule Error Messages / Warning Messages / Data Analysis & Review

7 EFIS Reminders – Title Page Enter the name of 2 individuals who have signing authority on behalf of your First Nation Estimates Submission xxx First Nation April 1st, March 31st, 2013 DateSignatureTitle DateSignatureTitle

8 EFIS Reminders – Schedule 1.1 Only complete the cells where you are reporting expenditures 4 categories of data (each will be defined in the next 2 slides)

9 EFIS Reminders – Schedule How to calculate average monthly # of children The sum of the number of children served (headcount) in each month / 12 ( )/12 = 166/12 = How to calculate total number of children (families) served The sum of all newly enrolled children during the year ( ) = 20 Total Number of Children Served New EnrolmentsExitsReturnedRemaining Children at End of the Month April10 00 May June11000 July19503 August September11000 October12001 November13100 December14001 January14000 February March15000

10 EFIS Reminders – Schedule How to calculate Full-time equivalence (FTE) of staff FTE is based on a minimum of 35 hours per week but you should use the standard work week applicable to your first nation. Formula = # of hours worked # of hours in standard work week Assume you are providing wage subsidy to three staff, what is their FTE They work the following number of hours: Staff # 1 = 40 hours per week Staff # 2 = 20 hours per week Staff # 3 = 45 hours per week The standard work week for these staff is 40 hours per week The total FTE for the 3 staff is 2.50 : Staff 1 = 40 hours worked / 40 hour standard work week = 1.00 FTE Staff 2 = 20 hours worked / 40 hour standard work week = 0.50 FTE Staff 3 = 45 hours worked / 40 hour standard work week = 1.00 FTE (actual calculation is 1.13 FTE but FTE can never exceed 1.0 per person) 4. How to calculate # of licensed centres funded The number of centres that will receive health & safety funding. For estimates, enter zero as H&S safety funding has not yet been announced

11 EFIS Reminders – Schedule 2.1 #  Headcount FTE  Full-time equivalency, see previous slide Able to group individuals working in the same position if you wish

12 EFIS Reminders – Schedule 2.3 Report salary costs related to wage subsidy under wage subsidy column, row “program costs – direct delivery” Only use “purchase of service” row where you are contracting out child care services to a third party

13 EFIS Reminders – Schedule 2.4 Enter any parental fees in row 1.1 Other offsetting revenues does not include federal govt. 20% contribution Other offsetting revenues could include donations received

14 EFIS Reminders – Schedule 3.1 Remember to compare the “Ministry allocation” to the “Entitlement” Combination of A402 / A403 Flexibility between detail codes A377 & A392, where applicable

15 EFIS Reminders – Schedule 4.1 Only if you’ve completed row 1.4, “Purchase of Service” in Schedule 2.3

16 EFIS Reminders – Error Messages Cannot promote your submission to Active status with Error Messages

17 EFIS Reminders – Warning Messages Can promote your submission to Active status with Warning Messages, but will get query from your financial analyst

18 EFIS Reminders – Data Analysis & Review Reviewing reasonableness of staffing to children ratio as well as cost structure

19 Assistance on Estimates Refer to Instructions on How to Complete the Estimates Submission Contact your financial analyst

20 What are the Year-End Reporting Requirements? 4 Components: Active completed EFIS financial statements submission (electronic) Audited financial statements of the First Nation which covers all programs provided by the First Nation including child care (hard copy OR electronic copy) A post audit management letter issued by the external auditors (hard copy or electronic copy) –If such a letter is not issued, confirmation in writing indicating that no such letter was received by the First Nation A schedule of child care revenues and expenses funded by the Ministry of Education –Note to audited financial statements –Separate audit or review engagement

21 Variance Reporting Variance Reporting Variance reporting is required for identified significant variances in the Revised Estimates and Financial Statement submissions. First Nations will be required to report significant variances, reason for variances, impacts on staff and services and provide an action plan as part of financial reporting. Revised Estimates (Mid-Year) and Actual Financial Statement (Year-End) Variances In the Revised Estimates (mid-year) and Financial Statement (year-end) reports, significant variances are identified as follows: A variance report is required if the financial or revenue data is $10,000 or more over or under the target. With respect to service targets, a variance report is required if service data is 10% or more over or under the target. No variance reporting for Revised Estimates as there was no estimates submission to compare to

22 Variance Reporting – 6 Step Process 1. After logging in, under “Submission”, select “Reports”

23 Variance Reporting – 6 Step Process 2. Scroll down, until you can see “Child Care”, and click on “Explanation Report”

24 Variance Reporting – 6 Step Process 3. From drop down menu, select “ Child Care Financial Statements”, click circle beside your First Nations name, scroll down and click on “Next”

25 Variance Reporting – 6 Step Process 4. Select your Financial Statement Submission” by clicking on circle beside the name of it and then click “Run Report”

26 Variance Reporting – 6 Step Process 5. Do you want to open or save? Save it onto your desktop and then open it.

27 Variance Reporting – 6 Step Process 6. Complete the requested information, print 2 copies and submit to Ministry.