Appendix O2 - Details of Board Funded Spending on Capital Assets

School boards are required to enter details on the amounts incurred by project in Appendix O2, which consists of the following three tables:

Table B - Details of unsupported capital spending

The school board should input detailed information on unsupported capital spending funded by allocations such as School Renewal, School Condition Improvement, third party revenues, future operating savings, proceeds of disposition and other revenues.

Projects funded by Accumulated Surplus and Sinking Fund Interest Earned (if applicable) will be preloaded from Schedules 5.5 and 5.3 respectively.

Table C - Interest over life of capital deficit

The school board should report the total interest it expects to incur over the life of the capital deficit related to its unsupported capital spending, and indicate the funding sources to be used.

Table D - Capital deficit on land (Non-EDC)

The school board should indicate the funding sources to be used to address the capital deficit on land purchases (non-EDC).

COLUMNS FOR: Table B, Table C, and Table D

Project Name

School boards must enter the name of the project under this column.

Funded by (Table B)

School boards must indicate the funding source used for the unsupported capital spending.

The funding sources available can be chosen from the drop-down menu:

1. Education Development Charges (EDC)
2. Future Operating Savings (FOS)
3. Minor Tangible Capital Assets (mTCA)
4. Other revenues (other than Third Party Revenues)
5. Proceeds of Disposition (POD)
6. School Condition Improvement (SCI)
7. School Renewal
8. Third Party Revenues (Example: Municipalities, Canada-Ontario)

Funded by (Table C)

School boards must indicate the funding source used. The funding sources can be chosen from the drop-down menu:

1. Accumulated Surplus
2. Future operating revenues
3. Other
4. School Renewal
5. Third party revenues

Funded by (Table D)

1. Accumulated Surplus
2. Other
3. Third party revenues

Opening Balance

The sum of the amounts input in this column should equal the closing balance reported in Schedule 5.3 (items 2.1.1, 2.1.2 and 2.2, col. 7) of the 2023-24 Financial Statements.

Amortization

School boards should enter the yearly amortization under this column for the capital projects.

Increase / (Decrease)

This represents the total change from in-year funds.

School boards will enter the amounts spent/committed for the current year as a positive amount.

If boards are reporting any previous years’ capital grant adjustments received in the school year, this should be reported as a negative amount.

Total number of remaining years encumbered post 2024-25

School boards should enter the total number of remaining years encumbered for each project. If a board will use School Renewal Allocation over the next 5 years to cover the amortization of the capital project, the board would enter 5 in the column. In the subsequent year, the number of remaining years should decrease by 1.

Error Messages:

• Table B: If the sum of amounts in column 6 is not equal to the closing balance reported in Schedule 5.3, (items 2.1.1, 2.1.2 and 2.2, col. 7).
• Table D: If the sum of amounts in column 3 is not equal to the closing balance reported in Schedule 5.6, item 2.4, col. 2.