The Calgary Board of Education says its independently audited financial results from last school year should give the public confidence in how it handles cash.

Tuesday afternoon, CBE trustees approved their financial results for the 2018-19 school year and the Independent Auditor's report attached to the results to be sent to the minister of education.

But with recent accusations of mismanagement of funds — and a provincial audit looming — trustee Julie Hrdlicka had a question for administration.

"Why should the public have confidence in this information that's before us?" she said.

CBE chair Marilyn Dennis said the board does its best to allocate every dollar to students. (CBC)

To start, school board chief financial officer Brad Grundy said, none of the information should come as news to the education ministry.

"The CBE, as a matter of course, both monthly, quarterly and annually — reports to Alberta Education and Alberta Education has essentially unfettered access to our information anytime they ask," he said.

And Grundy said auditor's find the same thing — year after year — when going through the CBE's finances.

"They have found they are without material error or omission," he said. "And so I think when I put all those things together there's every reason for the public to have confidence in the information that's being put forward today."

The CBE took in roughly $1.39 billion in revenue last year, $1.3 billion of which came from the province.

It spent around $1.4 billion, leaving it with a $6-million deficit for the school year.

Here's how its spending broke down:

$1 billion in instruction for Grades 1-12.

$48 million on early childhood services.

$47 million on board and system administration.

$48 million on transportation.

$170 million on plant operations and maintenance.

$33 million on external services.

The report also notes that while its funding per student has remained steady, it hasn't kept pace with inflation.

(CBE)

In a statement, Education Minister Adriana LaGrange said she is still finalizing who will conduct the financial audit and governance review. And, until the province does that, it's unable to provide a timeline.

CBE's board chair Marilyn Dennis said the board does its best to allocate every dollar in support of students.

But she said they will always welcome an outside set of eyes.

"If there are findings there that help us to deliver services better or differently if there are different things that we can be doing to continue to support Calgary students we're happy to hear those things," she said.

The full independent auditor's report can be viewed on the CBE's website.