SOFI

When reporting SOFI does everyone put the reconciliation on the Remuneration and the public bodies schedules? We have not been and am wondering if this is ok?

Comments

  • It is a requirement Rachelle, under 6(2)(d) of the Financial Information Regulation...

    Karen Cote
    District of Invermere

    Karen Cote
    District of Invermere
    [email protected]

  • Parksville puts a note in the schedules indicating that it is not possible to reconcile due to differences in accounting rules (ie the schedules are cash based and the f/s are accrual based, capital is not on the operating statement but is on the list of vendors, plus many other reasons) so reconciling them would not be reasonable. Have never had an issue with this approach. Until the FIR gets updated, it is dealing with different accounting rules than PSAB so I see not point in trying to follow the exact rules of the FIR. Seems the gov't doesn't want to fix the FIR to the current accounting rules.

  • We do similar to Lucky in Parksville.

Sign In or Register to comment.