Schedule 9 - Revenues
This schedule is designed to collect revenue information on a PSAB basis. Per public Sector Accounting Board (PSAB) section PSG-4, paragraph 7, the creation of, addition to, or deduction from funds and reserves does not create a revenue or expense. All revenues of the board are recorded on this schedule (including all legislative grants, federal grants, third party revenues, etc.).
Most of the proceeds from sales of sites and buildings (i.e. real property) are recorded as deferred revenues until they are used as prescribed by Ontario Regulation 193/10 (Restricted Purpose Revenues). For example, a building is sold in the current year and the proceeds will be used in a future year. The proceeds are not recognized as revenue in the current year but are recorded as a contribution to deferred revenue (Schedule 5.1, column 2, items 13.1 to 13.3) to the extent that the board had capital contributions in DCC for the purchase of this building. The deferred proceeds will be transferred to DCC (on Schedule 5.3) in the year that they are used for the purposes allowed by the regulation. DCC will be recognized into revenue at the same rate as the amortization of the asset that was purchased with the proceeds. The scenario is different when land is sold. A revenue recovery will be recorded on Schedule 9, item 8.50, to the extent that the board had capital contributions in accumulated surplus (Schedule 5, item 4.7) for the purchase of this land. See the Fall 2011 Training Session slides for the journal entries supporting the proceeds of disposition transactions.
Notes on input data:
Most cells on this schedule are input by school boards. Please note the following points when inputting values:
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Any transfer payments received by school boards to be paid to eligible employees and former employees as a remedy related to the Putting Students First Act (PSFA) court ruling should be reported as “Provincial Grants - Other”, and entered on any of the open lines from 2.8.1 to 2.8.6.
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Items 2.91.1 and 2.91.2 are for reporting prior years’ grant adjustments. When a school board’s GSN / Core Ed payments related to a prior school year change during the current school year, they will need to record the change in the current year’s EFIS forms. The change would be made through a new ministry-reviewed version of a prior year’s EFIS submission and an associated transfer payment voucher, and may relate to regulation amendments or other FO adjustments.
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If any of the change is related to an enveloped amount, an adjustment should instead be made to the related deferred revenue account by entering a value on Schedule 5.1, column 2.1 (Deferred Revenue - Adjustment). For example, if there is a regulation amendment that provides additional special education funding in the prior year’s financial statements, this additional funding should be added to Schedule 5.1, item 1.1, column 2.1.
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The amount to be entered as an adjustment on Schedule 5.1, column 2.1 (Deferred Revenue - Adjustment) for each affected line in the current year would be the change in Contributions Received (Schedule 5.1, column 2) between the board-submitted and final ministry-reviewed prior year’s EFIS submission.
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The remaining non-enveloped change in funding should be recorded on Schedule 9 in the Grant Adjustments section.
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Item 3.4, which is only applicable to the Financial Statements cycle, is to be used to accrue tax revenue adjustments (write offs and supplementary taxes) relating to 2026, where there are significant variances from adjustments school boards experienced in the past. It is expected that this cell will have limited use and will only be used in extraordinary circumstances. Any amount of revenue accrued on this line will have an offsetting amount recorded at item 2.90 to reflect the grant impact.
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Interest income (other than interest earned on sinking fund assets, which is loaded to item 6.2) is reported at items 6.1.1 to 6.1.3:
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Item 6.1.1 (Portfolio Interest Income - Non-GRE (Third Party)): Report third party (i.e. non-government reporting entity (GRE)) interest income generated from portfolio investments on this line. Exclude interest on sinking fund assets that is recorded at item 6.2.
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Item 6.1.2 (Other Interest Income - Non-GRE (Third Party)): Report third party (i.e. non-government reporting entity (GRE)) interest income generated from non-portfolio investments on this line. Exclude interest on sinking fund assets that is recorded at item 6.2.
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Item 6.1.3 (Interest Income - GRE (Non-Third Party)): Report interest income generated from Ontario bonds and T-Bills on this line.
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School boards should enter fees from their extended day program related to early learning at item 8.17.
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DCC on disposal of non-pooled and unrestricted assets and DCC related to the loss on disposal of restricted assets are recorded as revenue on this schedule at items 9.2 and 9.3:
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On the disposal or write-down of non-pooled and unrestricted assets, the DCC of the disposed or written down asset is transferred to revenue and reported at item 9.2.
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On the disposal of restricted assets (including assets held for sale), if there is a loss incurred on disposal, the portion of the DCC of the disposed asset equal to the loss is transferred to revenue by reporting the amount at item 9.3. The remaining portion of the DCC is transferred to deferred revenue. Similarly, if there is a write down on a restricted asset, the DCC of the written down asset is transferred to revenue and reported at item 9.3.
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See the Fall 2011 Training Session slides for the journal entries supporting the disposition transactions. Note that amounts input on these two lines is loaded to Schedule 1.1 Consolidated Statement of Operations at item 1.8 (Fees and Revenues from Other Sources).
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Any interest earned on debentures raised by boards to pre-finance project costs should be reported as revenue.
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Tuition fees from Ontario residents on tax-exempt land (section 4 of the Calculation of Fees for Pupils for the 2025-26 School Board Fiscal Year regulation) should be reported at item 8.2.
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Items 8.3.1 and 8.3.2 (Tuition fees from Individuals - Day School, Other): This typically refers to tuition fees collected from international visa students. Some school boards may record the fees received for the upcoming school year from visa students as deferred revenue. In that case, the collected fees can be recognized as revenues by entering an amount on Schedule 5.1, item 4.8, col. 6; this value is loaded to Schedule 9, item 8.3.1. This amount is excluded from the amount populated at item 8.15 (Other Third Party - Amounts from Deferred Revenue). Some school boards may not record the tuition fees from visa students as deferred revenues, but would accrue fees received in advance. They should report the revenues, when recognized, at item 8.3.2.
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All payments to school boards other than grants should be reported at item 8.14 (Government of Ontario, Non-grant payment). An example is a disbursement for an employee of the board seconded to the ministry.
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Revenue related to benefit plan reserves should be recorded at item 8.19. This line is to report any amounts that were received as a result of the termination of existing benefit plans when joining the provincial benefit trusts.
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Revenue Recovery on Asset Retirement Obligation at item 8.51 is an input cell. School boards should enter any revenue recoveries related to ARO in the year, which are recorded to reverse excess amortization taken on TCA-ARO in prior periods arising from disposal or revaluation of asset retirement obligations. However, please note that any Core Ed revenue related to supported ARO abatement is already included in items 1.1 (for allocations paid as a capital grant) and 1.2 (for allocations that flow through deferred revenue) above. These are amounts that were recorded on Schedule 3A, items 1.3.2 or 1.3.3. The sum of supported ARO abatement from Schedule 3A (item 1.3.2, column 20 less column 19 and item 1.3.3, column 20) and the revenue recovery on ARO recorded at item 8.51 is excluded from compliance; it is loaded to the Compliance Report, item 2.1.3.
- Warning_SC9_1 checks that the value input at item 8.51 equals the total ARO revenue recovery reported on Schedules 3E (column 19) and 3D (column 17). If a school board receives this warning and Warning_SC5.7_1 because they had an asset held for sale (AHFS) or an asset permanently removed from service (PRFS) prior to the adoption of ARO on September 1, 2022, please indicate this in the warnings explanation as this is a valid reason to ignore the warning message(s).
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Any revenue recoveries related to contaminated sites should be input at item 8.52 (Revenue Recovery on Contaminated Sites). This may occur if a site is sold before it has been remediated, or due to a decrease in the estimated contaminated site liability. There should be a corresponding negative entry on Schedule 10.7 Liability for Contaminated Sites, in column 2.3 (Contaminated Site Liability Disposal) for a disposal without abatement or in column 2.1 (Contaminated Site Liability Changes in Estimate) for a decrease in the liability estimate.
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Item 8.62 (Realized gains attributable to derivatives) is to report derivatives gains and flows to Schedule 1.4, item 3.3.1, in the Financial Statements cycle. This amount should be a positive number.
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Item 8.63 (Realized gains attributable to portfolio investments) is to report portfolio investment gains and flows to Schedule 1.4 item 3.4.1, in the Financial Statements cycle. This amount should be a positive number.
Data loaded from other schedules:
In addition to transfers from deferred revenues, which are detailed in the Deferred Revenue section below, the following items are pre-loaded to Schedule 9 from data entry elsewhere in EFIS:
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Item 1.1 (Legislative Grants - Current Year) is loaded from Section 1A, item 6.1.2.
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Item 1.2 (Legislative Grants - Amounts from Deferred Revenue) is loaded from Schedule 5.1, column 6, item 1 + item 10.
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Item 2.90 (Grant Accrual Re. 2026 Accrued Tax Adjustment) is calculated as the negative of the value entered on Schedule 9, item 3.4 (Tax Supplementary and Tax Write-offs Adjustment - Accrual Re. 2026 Amounts). This is only used rarely, and represents the expected increase in grants from the ministry in cases where a school board expects significant negative tax revenue adjustments.
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Item 3.1 (Tax Revenue from Municipalities) is calculated as the total tax revenue from Schedule 11A, item 14.6 minus the amount input on Schedule 9, item 3.2 (Tax Revenue from Unorganized Territories).
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Item 3.3 (Tax Revenue Adjustment) is loaded from Section 1B, item 4.2 (in the Financial Statements cycle only).
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School generated funds revenue (item 4.1 for elementary and item 4.2 for secondary), is loaded from Schedule 14, item 1.5 (column 1 for elementary and column 2 for secondary).
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Item 5.5: Revenue related to approved operating expenses under the CVRIS-80% funding source, provided by the federal government but administered provincially, is loaded from Schedule 3A, item 1.3, column 8.1.
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Item 6.2 (Interest on Sinking Fund Assets) is loaded from Schedule 5A, item 8, column 10.
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Item 8.18.1: Net gain on disposal of unrestricted tangible capital assets (i.e., assets other than land and building) is loaded from the sum of gains on disposal on Schedule 3C for unrestricted assets.
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Item 8.18.2 (Net Gain on Disposal of Purchased Intangibles) is loaded from the sum of gains on disposal on PI from Schedule 3G, item 2.0, column 20.
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Item 8.50 (Revenue recovery on Land Disposal) is loaded as the negative of Schedule 5.6, item 1.4, column 3 less Schedule 5.5, column 6.1, total land projects.
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Item 9.1 (Amortization of Deferred Capital Contributions) is loaded from Schedule 5.3, column 6, item 2.3.
Deferred Revenue
Grants or other amounts received for specific or externally restricted purposes (such as Special Education grants) are not recognized as revenue unless they have been used for the purposes they were provided for. These amounts are recorded in deferred revenue on Schedule 5.1.
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Therefore, the allocation a board receives on Section 1A (Summary of Allocations) will not equal the Legislative Grants - Current Year on Schedule 9, item 1.1. The portion of the year’s allocation that is being deferred can be seen on Section 1A, item 6.2.
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Other (non-Core Ed) deferred revenues on Schedule 5.1 that meet the criteria for revenue recognition are transferred out of deferred revenue by recording the appropriate amount on Schedule 5.1, column 6. No data entry is required on Schedule 9, as the amount will be populated automatically.
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The deferred revenue amounts on Schedule 9 are carried forward from Schedule 5.1 and are populated as detailed in the chart below:
Schedule 9 | Schedule 5.1, column 6 |
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Item 1.2 - Legislative Grants - Amounts from Deferred Revenue | Items 1 and 10 |
Item 2.1 - Other EDU Grants - Amounts from Deferred Revenue | Items 2 and 11 |
Item 2.13.2 - MPBSD - In-Kind Grant - PPE/CSE/HEPA - Amounts from Deferred Revenue | Item 3.2 |
Item 2.14.2 - In-Kind Grant - Rapid Antigen Test Kits - Amounts from Deferred Revenue | Item 3.3 |
Item 2.50 - Grants from Other Ministries - Amounts from Deferred Revenue | Items 3 (excluding items 3.2 and 3.3) and 12 |
Item 2.80 - Grants from Other GRE - Amounts from Deferred Revenue | Items 4.1 to 4.5 |
Item 4.3 - Amounts from Deferred Revenues - School Generated Funds | Items 4.7 and 13.8 |
Item 5.20 - Amounts from Deferred Revenue - Federal Government | Items 4.6 and 13.6 |
Item 7.4 - Northern Adjustment - Other School Boards | Item 4.9 |
Item 8.3.1 - Fees from Individuals - Day School - Other - Transfer from Deferred Revenues | Item 4.8 |
Item 8.15 - Amounts from Deferred Revenue - Other Third Party | Items 4.10, 4.11, 4.60, and 13 (less items 13.5, 13.6, and 13.8) |
Item 8.16 - Education Development Charges - Transferred to Revenues | Item 13.5 |
In-Kind Grants
PPE, CSE, HEPA, and Rapid Antigen Test Kits
There are four lines available on Schedule 9 for school boards to report revenue related to in-kind grants from the provincial government: two to record the value of personal protective equipment (PPE), critical supplies and equipment (CSE) and HEPA filter units received by the board from the Ministry of Public and Business Service Delivery (MPBSD), formerly the Ministry of Government and Consumer Services (MGCS), and two to record the value of Rapid Antigen Test Kits (RAT).
In-Kind Grant | Entered cell on Schedule 9 | Transfer from Deferred Revenue on Schedule 5.1 |
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MPBSD - In-Kind Grant - PPE/CSE/HEPA | Item 2.13.1 | Item 2.13.2, loaded from Sch 5.1 item 3.2, col. 6 |
In-Kind Grant - Rapid Antigen Test Kits | Item 2.14.1 | Item 2.14.2, loaded from Sch 5.1 item 3.3, col. 6 |
School boards can report revenue for the In-Kind Grant - PPE/CSE/HEPA directly on the existing item 2.13.1 if it does not relate to an opening deferred revenue. Similarly, they can report revenue for the In-Kind Grant - Rapid Antigen Test Kits directly on line 2.14.1 if it does not relate to an opening deferred revenue. They can also choose to report the revenue on Schedule 5.1 through lines 3.2 and 3.3 as a transfer to revenue in column 6, and it will flow directly to Schedule 9 at items 2.13.2 and 2.14.2. For any amounts that were recorded in opening deferred revenue related to the in-kind grants, please enter the current year revenues for these items on Schedule 5.1 in column 6.
As announced in Memorandum 2021: SB18, and consistent with reporting in previous periods, school boards are required to report their PPE and CSE in-kind revenue. This includes HEPA filters and units received directly from the Ministry of Public and Business Service Delivery (MPBSD), formerly the Ministry of Government and Consumer Services (MGCS). Starting in 2021-22, this also includes rapid antigen tests (RAT). PPE, CSE, HEPA and RAT in-kind revenues, if applicable, are to be reported based on the quantities received by the school boards, using the costing information provided by the ministry. If the unit cost of the RATs is not available by the time of reporting, boards should report $0 revenue and expense. These in-kind revenues will be fully offset by the PPE, CSE, HEPA and RAT in-kind expenses, resulting in no impact to the school boards’ in-year surplus/deficit. Any inventory that is not projected to be used during the current reporting period should be recorded as inventory of supplies and deferred revenue; however, these amounts are expected to be minimal.
In the case where items such as HEPA filter units were received in the prior reporting period, and were also used (i.e. placed in service in classrooms or elsewhere) in the prior reporting period, the board would record a revenue and an expense for the value of the equipment in the prior reporting period.
In the case where a large volume of items were received in the prior reporting period (ex. Masks and hand sanitizer), which were intended for use in the current reporting period, the following journal entries are recommended for current and prior reporting periods.
To record PPE when received in the prior period
Dr inventory of supplies
Cr deferred revenue
To record PPE when used in current reporting period
Dr supplies expense
Cr inventory of supplies
Dr deferred revenue
Cr revenue
In the case where PPE/CSE/HEPA inventory expires prior to use, school boards may choose to record the disposal of expired PPE using a contra account for Allowance for obsolete inventory of supplies, which would be netted against the Inventory of supplies accounts to get the remaining inventory. Note that this amount would be reported in EFIS on a net basis on Schedule 7 (Detail of Consolidated Statement of Financial Position) at line 4.2 (Inventories of Supplies) in the Financial Statements cycle, as there is no contra account line in EFIS and this method is not required for ministry purposes.
To record the disposal using this method:
Dr Supplies expense
Cr Allowance for obsolete inventory of supplies
If the school board recorded an amount in deferred revenue for the expired item, an additional entry is required:
Dr Deferred revenue
Cr Revenue
Menstrual Equity Initiative
Through the Menstrual Equity Initiative Ontario Multi-Year Transfer Payment Agreement (TPA), school boards will receive dispensers and menstrual products for 2024-2025, 2025-2026, and 2026-2027 that will need to be reported and recorded as an in-kind revenue in EFIS. School boards should report this in-kind revenue on Schedule 9, in the Provincial Grants - Other section, between items 2.8.1 and 2.8.6, with the description “REP - Menstrual Equity Initiative”. The corresponding expense will be recorded on Schedule 10 item 55 (Textbooks and Supplies), column 5 (Supplies and Services). This corresponds with the Ministry of Education Code of Accounts function code 10 (Instruction) and object code 330 (Instructional Supplies). The dispensers are considered operating expenses since they do not meet the ministry capitalization threshold.
Revenues and expenses are calculated by multiplying the number of menstrual products and dispensers used in the school board in the reporting period by their respective unit costs, as noted in Schedule “D” of the TPA. In the case where a material volume of product was received in the reporting period and remains unused at the end of the reporting period, the value of these products is to be reported in EFIS as Inventories of Supplies on Schedules 1 and 7, item 4.2 and as deferred revenue on Schedule 5.1, item 2.1 Responsive Education Programs (REP).
Banker and Recipient Boards
Some Ministry of Education grants have been provided to school boards that are to act as “banker boards” that will further distribute the money to other boards (“recipient boards”). In this situation, please report as described below:
Banker Boards
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When the funding is received from the ministry, the banker board should record the amount in Provincial Grants - Other revenue (Schedule 9, items 2.8.1 to 2.8.6), or deferred revenues where applicable. An example of deferred revenue recognition is the Northern Adjustment funding. Since this is Core Ed funding and is enveloped, the use of the Northern Adjustment funding, including payments of this funding to recipient boards, is recorded on Data Form A2 and Schedule 5.1 and eventually reflected on Schedule 9 item 1.2 (Legislative Grants - Amounts from Deferred Revenue).
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When the banker board flows the money to the recipient board or sets up the payable to the recipient board, they will record the expense as a “Transfers to other Boards” expense (Schedule 10, column 11). Error message Error_SC10_7 checks that an appropriate expense is included here if a Northern Adjustment lead board records a transfer to recipient school boards on Data Form A2 Special Education, item 2.3.
Recipient Boards
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Amounts received or receivable from the banker board should be recorded as Other Fees and Revenue from School Boards - Other (Schedule 9, item 7.90.1 or 7.90.2) or as deferred revenues where applicable. A dedicated line (Schedule 9, item 7.4) exists for tracking Northern Adjustment funding received from cooperative lead boards; it’s populated via Schedule 5.1, item 4.9, when the cooperative recipient board reports Northern Adjustment funding received on Data Form A2 Special Education, item 2.5.
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The expense should be recorded when incurred in the appropriate expense account(s) on Schedule 10.
Relationship to other schedules:
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The total revenues in each section of this schedule are loaded to Schedule 1.1 (Consolidated Statement of Operations). For deferred capital contributions (DCC), the amortization of DCC at item 9.1 is split between Schedule 1.1 items 1.9.1 (….related to Provincial Legislative Grants) and 1.9.2 (….related to Third Parties) based on amounts recorded on Schedule 5.3 Deferred Capital Contributions Continuity, items 2.4 and 2.5, col. 6. The DCC revenue recorded at items 9.2 and 9.3 is included in the value loaded to Schedule 1.1 item 1.8 (Fees and Revenues from Other Sources).
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Realized gains attributable to foreign exchange, derivatives, and portfolio investments are input at items 8.60 to 8.62. In the Financial Statements cycle, the values entered here are loaded to Schedule 1.4, Consolidated Statement of Remeasurement Gains and Losses.