Part 1 - Financial Evaluation
FINANCIAL MANAGEMENT
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FINANCIAL MANAGEMENT
The school demonstrates how it manages its finances and how well it manages its finances. This is an opportunity for the school to show how the Board/Governing Body exercises its responsibilities in financial planning and stewardship, as well as the roles of the senior officers in the school's administration.
Self Ratings: No Rating
Evaluator Ratings: No Rating
Evaluator Response
APG has a well written financial procedure manual that includes detailed steps for each item in the school finance system. The reports and systems are in accordance with the International Financial Reporting Standards. The finance department implements and supervises these procedures along with the accounting manual that contains clear accounting rules within the institution. There is a clear line of spending authority and ability to conduct budget transfers given to management without the need for additional board approval.
The head of the board has appointed three independent board members who are highly respected professionals with a broad grasp of government policies in education. The school governing body exercises its responsibilities in financial planning and stewardship of the school with their full potential. The head of the board, as the sole owner of the school, receives financial information about the school operations on a regular basis and decisions are made within the board and leadership teams under his supervision.
Commendations:
Financial Information: Financial Management - The head of the board for his idealism in building APG to provide international education to children in Bahrain and for appointing professionals for the sustainability of the school.
Recommendations: None at this time.