Education and Training Act 2020

If you need more information about this Act, please contact the administering agency: Ministry of Education
134 Statements of variance and annual reports

(1)

A board must give the Secretary—

(a)

a statement of variance by a date fixed by the Secretary each year; and

(b)

an annual report as soon as practicable after the end of each financial year, and no later than a date fixed by the Secretary.

(2)

The annual report must contain the following:

(a)

the information required by regulations made under section 639; and

(b)

the board’s annual financial statements; and

(c)

the auditor’s report provided under section 135; and

(d)

in respect of the board or, in the case of a Crown entity group, each Crown entity in the group,—

(i)

the total value of the remuneration (other than compensation and other benefits referred to in subparagraph (v)) paid or payable to the board members in their capacity as board members by the board (or entities in the group) during the financial year; and

(ii)

the total value of the remuneration (other than compensation and other benefits referred to in subparagraph (v)) paid or payable to the committee members in their capacity as committee members by the board (or entities in the group) during the financial year (except that this subparagraph does not apply to board members whose remuneration is disclosed under subparagraph (i)); and

(iii)

the number of employees (other than principals of the school) to whom, during the financial year, remuneration (other than compensation and other benefits referred to in subparagraph (v)) was paid or payable in their capacity as employees, the total value of which is or exceeds $100,000 per annum, and the number of those employees in brackets of $10,000; and

(iv)

a report, presented in the manner required by the Minister by notice in the Gazette, on the total remuneration (including benefits, any compensation, ex gratia payments, any other payments, and any other consideration paid or payable in the school principal’s capacity as an employee) paid to a principal of the school; and

(v)

the total value of any compensation or other benefits paid or payable to persons who ceased to be board members, committee members, or employees during the financial year in relation to that cessation and the number of persons to whom all or part of that total was payable; and

(e)

the statement of variance.

(3)

In addition, a board that is a parent in a Crown entity group must, to the extent required to do so by generally accepted accounting practice, prepare consolidated financial statements in relation to the group for that financial year.

(4)

The annual financial statements must be in the form (if any) determined by the Secretary after consultation with the Auditor-General.

(5)

The annual financial statements must be accompanied by a statement of responsibility that complies with section 155 of the Crown Entities Act 2004 but that is signed by the chair of the board and the principal instead of 2 members.

(6)

The requirements of this section and section 135 as to annual financial statements also apply to a Crown entity subsidiary of a board as if the subsidiary were a board and with all necessary modifications.

(7)

The rest of the amendments made to this section by Schedule 6 of the Crown Entities Act 2004 apply as provided in section 198 of that Act.

(8)

In this section,—

board member and employee include a person who was a board member or an employee at any time during the applicable financial year but who is no longer a board member or an employee

statement of variance means a statement that details—

(a)

any variance between the school’s performance and the achievement of the school’s objectives set out in its strategic plan and annual implementation plan; and

(b)

any matters required by regulations made under section 639.

(9)

However, in relation to a 2023 school charter, statement of variance means the statement referred to in subsection (2)(e) as it read, or would have read, immediately before the commencement of subsection (8).

Compare: 2017 No 20 s 68