TABLE OF CONTENTS

Part 1 – Financial Statements Page

 Independent Auditor’s Report 1

 Statement of Management Responsibility 3

 Audited Financial Statements

1. Statement of Financial Position

As at December 31, 2016 4

2. Statement of Financial Performance

For the Year Ended December 31, 2016 5

3. Statement of Changes in Net Assets/Equity

For the Year Ended December 31, 2016 6

4. Cash Flow Statement

For the Year Ended December 31, 2016 7

5. Statement of Comparison of Budget and Actual Amounts

For the Year Ended December 31, 2016 8

6. Notes to Financial Statements 11

Part II – Audit Observations and Recommendations 83
Part III – Status of Implementation of Prior Years’ Unimplemented 114
Audit Recommendations

Part IV – Appendices

 Appendix A – Financial Statements by Fund

A.1 – Statement of Financial Position – General Fund 126
A.2 – Statement of Financial Position – Special Education Fund 127
A.3 - Statement of Financial Position – Trust Fund 128
A.4 – Statement of Financial Performance – General Fund 129
A.5 – Statement of Financial Performance -Special Education Fund 130
A.6 – Statement of Financial Performance – Trust Fund 131
A.7 – Statement of Changes in Net Assets/Equity – General Fund 132
A.8 – Statement of Changes in Net Assets/Equity –
Special Education Fund 133
A.9 – Statement of Cash Flows – General Fund 134
A.10 – Statement of Cash Flows – Special Education Fund 135
A.11 – Statement of Cash Flows – Trust Fund 136
A.12 – Statement of Comparison of Budget and Actual Amounts –
General Fund 137
A.13 – Statement of Comparison of Budget and Actual Amounts –
Special Education Fund 140