The annual report is one of two key accountability documents that boards of trustees are required to use to inform and report to stakeholders such as the Ministry of Education, Members of Parliament and, most importantly, parents and the wider school community.
The annual report contains the annual financial statements that show how the board has applied its financial resources to achieve its charter goals.
The annual report also contains an analysis of any variance between the planned aims, objectives, directions, priorities, or targets (as set out in the school charter) and what the school has actually achieved during the year. The analysis of variance describes for the community how the school has addressed the board's priorities for improving student achievement, and how successful the school's approach has been. The analysis of variance should also provide the basis for plans for the coming year.