Trentham School Board of Trustees can be contacted via the school office 045286485 or admin@trentham.school.nz
NAG 4: FINANCE AND PROPERTY
TRENTHAM SCHOOL STATEMENT OF INTENT
Reviewed by BOT – June 2020
Ratified by BOT – June 2020
Next review date – June 2023
Delegations will be put in place to ensure the school’s Board, management and staff are aware of their financial responsibilities.
Under Schedule 6, Part 2, section 13 of the Education Act 1989, Boards may delegate powers to the staff.
Delegations will cover;
the operations of bank accounts, and
limits on expenditure approval on any one account
The Board will delegate authority to operate the school’s bank account(s) (the Account) to allow for the efficient running of the school’s day to day operations.
People authorised by the Board to operate the Account shall only use the Account for school business.
The Board will approve a schedule of authorised signatories for the Account. Any payments to be made from the Account will require two different signatories from the schedule.
The Board shall delegate authorised people the authority to approve expenditure to a specific limit.
The Board can establish a standing committee with the authority to approve specific school expenditure.
The Principal can delegate expenditure approval, on terms consistent with the Principal’s delegation from the Board, to the school’s staff to allow for the efficient running of the school’s day to day operations.
Board approval for expenditure must be sought for the following circumstances:
When proposed expenditure exceeds the Board approved budget 10% of the set budgeting level (as per monthly financial statements - summary of profit & loss). However in emergency situations the Principal has authority to incur expenditure outside of budget to carry out repairs in order for the School to comply with health and safety obligations in order to protect staff, students, and property.
When expenditure relates to overseas travel/conference.
When any expenditure on school buildings, except approved painting exceeds $5000.00.
Borrowing
The Board must not delegate any power to borrow money that it may have under section 160 or section 162 of the Crown Entities Act 2004.