Schedule 1.4 - Consolidated Statement of Remeasurement Gains and Losses

The Consolidated Statement of Remeasurement Gains and Losses shows the change in a school board’s financial position due to unrealized gains and losses arising from changes in the fair value of financial instruments.

• Item 1 (Accumulated remeasurement gains (losses) at beginning of year) is loaded from the prior year closing balance (item 5, column 2).

Section 2: Unrealized gains (losses)

This section is for reporting the unrealized gains (losses) attributable to the various investment categories (foreign exchange, derivatives, and portfolio investments).

• All in-year unrealized gains (losses) related to foreign exchange on foreign currency, foreign exchange on foreign accounts payable, derivatives, and portfolio investments should be reported at items 2.1 to 2.4. Please note that in the event of any sale/redemption, school boards would be required to also include in these items the unrealized gains (losses) to bring the value of the investment being sold up/down to its true value immediately prior to the sale/redemption.

DR. Portfolio Investments  $25,000
      CR. Unrealized Gains      $25,000

Section 3: Amounts reclassified to the statement of operations

This section is for reporting the net gains and losses attributable to the various investment categories (foreign exchange on foreign currency, foreign exchange on foreign accounts payable, derivatives, and portfolio investments), which are included in the annual surplus (deficit) calculated on Schedule 1.1.

• The gains are loaded to items 3.1.1, 3.2.1, 3.3.1, and 3.4.1 from Schedule 9, items 8.32.1, 8.32.2, 8.32.3, and 8.32.4, respectively.

• The losses must be inputted by school boards because they are reported on Schedule 10 in several different cells, where they may be combined with other expenses.

Section 4: Net remeasurement gains (losses) for the year

This section calculates the net remeasurement gains (losses) for the year, attributable to the various investment categories (foreign exchange on foreign currency, foreign exchange on foreign accounts payable, derivatives, and portfolio investments). For each category, the value is calculated as the corresponding amount from Section 2 minus the amount from Section 3. The total net remeasurement gains (losses) in-year is calculated at item 4.

Accumulated remeasurement gains (losses) at end of year

Item 5 (Accumulated remeasurement gains (losses) at end of year) is calculated as the sum of the following lines:

• Item 1 (Accumulated remeasurement gains (losses) at beginning of year)
• Item 4 (Total net changes in remeasurement gains (losses) for the year)

This value is loaded to Schedule 7, item 5.2 (FP - Accumulated Remeasurement Gains (Losses)).