Good day, Minister,
Subject: Request to review the reporting thresholds applied in the annual Statement of
Financial Information (SOFI)
The British Columbia School Trustees Association is a champion of good governance practices
among school boards, providing exceptional professional development and working with
partners to ensure the success of every student across British Columbia. As the sole
nonpartisan organization representing democratically and locally elected boards of education,
BCSTA has been a steadfast champion for good governance in public education for 120 years.
At BCSTA AGM 2025, our membership passed a motion requesting that the Minister of Finance
review the reporting thresholds applied in the annual Statement of Financial Information (SOFI)
Report to increase this threshold.
School Districts and other provincial public sector entities in British Columbia are required to
annually publish a Statement of Financial Information (SOFI) Report. This annual SOFI report
requires the reporting of remuneration and expenses of all employees where annual
remuneration exceeds $75,000, and the reporting of annual payments for goods and services
where annual payments to a supplier exceed $25,000.
The original purpose of the report was to detail the remuneration and expenses of higherincome
earners in leadership roles, along with significant payments to suppliers. However,
because the reporting thresholds have remained unchanged for many years, the proportion of
staff remuneration and supplier payments now included in the SOFI has increased considerably.
For instance, after many years of salary inflation, school districts must now report remuneration
and expenses for most teachers and some support staff. This ongoing expansion in the scope
of reporting has shifted the focus away from and reduced accountability for the reporting of
remuneration and expenses for those in leadership positions. Gathering expense information for
a much broader group of staff and suppliers is also a major administrative task—which, in our
view, does not enhance transparency and accountability.
Raising the reporting threshold will restore the Statement of Financial Information to its original
purpose and save significant staff time, which can then be allocated to delivering outstanding
educational experiences to students across BC.
Thank you for your attention to this matter.
Tracy Loffler
President
British Columbia School Trustees Association