The MOE’s annual reporting circular is hot off the press. Great News – Limited changes! The circular confirms that there are no significant changes required for the 2012 financial statements or reporting time frames. It is still important to read this circular. It contains useful information including an annual reporting checklist to make sure your school has completed all the appropriate reports, including those not prepared by your service centre, such as the analysis of variance.
More Great News – Countless trees to be saved!
The big change for 2012 audits will be the method of reporting to the MOE. This will now be done electronically rather than you having to make 4 copies of your annual report and financial statements and forwarding these to the MOE. Instead, you will only be required to email the MOE a single PDF version of the financial statements for them to store and distribute as required by legislation. This is something we have been suggesting for some years and are delighted to see this resource saving initiative. We are also great fans of any process like this which should make the process easier and more efficient for all concerned.
We will assist you by providing a PDF of your annual report at the same time as we sign our audit opinion. This way, you will only need to forward that email to the MOE to complete your filing requirements.
This does mean however that it will be even more important that we have your correct email contact details so that we can ensure these are received. You may also wish to ensure your executive officer or principal is able to receive email files of a significant size as sometimes these PDF’s have a large file size, even if scanned in black and white rather than colour.