NAG 4: Finance and Property

Rationale

In order to maintain quality financial and physical resources the Board of Trustees (the Board) has to developed sound procedures and guidelines.

Purpose

  • The Board shall allocate funds reflecting the school’s priorities as stated in the Charter and Annual Plan.
  • The Board and Principal shall monitor and control school expenditure, and ensure that annual accounts are prepared and audited as required by the Public Finance Act 1989 and the Education Act 1989.
  • The Board and Principal shall comply with the negotiated conditions of any current asset management agreement, and implement a maintenance programme to ensure that the school’s buildings and facilities provide a safe and healthy learning environment for students.

Guidelines

  • The school will have written management procedures relating to finance and property which are actively practised and regularly reviewed for compliance.
  • The Board will allocate funds to reflect the school’s priorities as stated in the charter and strategic plan by:
    • Developing an annual budget
    • Developing a long term maintenance plan
    • Developing an annual plan from the strategic plan
  • Maintaining effective communication systems between the Principal and staff and the Board.
  • The Board and the school will have management procedures for monitoring and controlling expenditure:
    • Accounting systems – petty cash, bank accounts
    • Fundraising procedures
    • Internal spending, including ordering and purchasing of resources
    • Capital assets
  • The Board of Trustees will ensure that the annual accounts are prepared and audited as required by the Public Finance Act 1989 and amendments and the Education Act 1989 and amendments.
  • The Board will comply with any current asset management agreement, including the Property Occupancy Agreement.

In order to fulfil the policy, the Board and management have developed, and will regularly review, the following procedural and administrative guidelines associated with finance and property:

Asset Management Procedures
Cash Management Procedures
Classroom Behaviour Management
Credit Card Procedures
Entertainment Procedures
Gift Procedures
Protected Disclosures
Sensitive Expenditure Procedures
Theft and Fraud Prevention
Travel Procedures

Reviewed 8 August 2017

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