4.1 NAG 4.1 Financial Management At the Board Level

6.9.2018

P & P No: 4.1

Administration & Finance Sub-Committee

Purposes:

  • To monitor and control school expenditure
  • To help Board meetings run more efficiently

Guidelines:

  • The Sub-committee consists of the Board Treasurer, the Chairperson, the Principal, and the Executive Officer.
  • They go over the transactions since the last Board meeting, the balance of the cheque account and bank reconciliation and the SUE report, and monitor the budget lines.
  • When all of this has been checked and cleared, the sub-committee then recommend to the
  • Board that the report be accepted in its entirety and advise the Board that they have checked the report and are satisfied with the explanations.

School Cheques and Cheque Signatories

Purposes:

  • To ensure that school funds are not open to misappropriation.
  • To ensure that the school is able to continue to conduct its business in the absence of Principal or Board members.

Guidelines:

  • All cheques that are issued by the school are crossed and stamped not transferable, with the exception of the petty cash cheque which will be cashed by the Executive Officer. This includes all staff reimbursement cheques for expenses while on courses, and use of private vehicles.
  • Staff sign to show receipt of cheques.
  • There are five cheque signatories – the Treasurer, Chairperson, Secretary, the Principal, and the Executive Officer.
  • Two of the five signatures are required on each cheque.
  • The relevant documentation must be checked and initialled by each cheque signatory before they sign the cheque.
  • The cheque number will be stated on the documentation.

Policy on the Conflict of Interest

  • No Staff Member, Trustee nor any person associated with them shall participate in or materially influence any decision made by the Board of Trustees in respect to the letting of contracts or any payment of monies from which person may directly or indirectly benefit.
  • Any such income paid shall be reasonable and relative to that which would be paid in an arms length transaction (being the open market value).
  • The provision and effect of this clause shall not be removed from this document, and shall be included and implied into any document replacing this document.

Purpose:

  • To make decisions based on the Charter Goals and the school Principles and Beliefs.
  • To ensure that the school will provide un-biased Governance and Practices.

Guidelines:

  • Refer to the NZSTA Trustee Handbook for information on the Code of Conduct for Trustees, Pecuniary Interest and Conflict of Interest.
  • Where a trustee/staff member believes there could be a conflict of interest, that trustee/staff member shall notify the Chairperson or Principal.
  • If another trustee/staff member not directly affected becomes aware of a potential conflict of interest, that trustee/staff member is bound to bring this to the attention of the principal or chairperson.
  • Where the conflict of interest involves the Principal, s/he will ask the Executive Officer, or Regional Manager to take responsibility for any decisions relating to the matter in question.
  • If the Chairperson is identified, another trustee will be nominated to take over the chair.
  • All incidents will be investigated fully.
  • All such incidents will be fully documented.
  • Where the Board believes a trustee/staff member has knowingly been compromised by some action and has failed to bring the potential for conflict of interest to the attention of the chairperson/principal the BOT will decide on the best course of action.

Complaints and Concerns

  • Complaints and concerns are welcomed, in as much as they assist us to improve our communication and services.
  • Complaints should be dealt with at the lowest possible level.
  • The person making the complaint should always be offered and allowed an accompanying support person.
  • This process is the same as that outlined in the documentation for NAG 3: please see Policy and Procedures Document 3.4 for details.
  • As part of our procedures on complaints and concerns, the provisions of the Protection Disclosures Act 2000 apply if required.

Fraud

As part of our procedures on complaints and concerns, and to guard against fraud, the school needs to be vigilant and careful to ensure policies and procedures are clear and have included checks and balances.

Credit Card Policy

The credit card is not to be used for any personal expenditure.

The credit card will only be used for:

  • Payment of actual and reasonable travel, accommodation and meal expenses incurred on School business; or purchase of goods where prior authorization from the Board is given.

All expenditure charged to the credit card should be supported by:

  • A credit card slip.
  • A detailed invoice or receipt to confirm that the expenses are properly incurred on School business.
  • For expenditure incurred in New Zealand of value greater than $50 (including GST) there should also be a GST invoice to support the GST input credit.
  • The credit card statement should be certified by the cardholder as evidence of the validity of expenditure, and individual expenditures coded appropriately.
  • The cardholder must only purchase within the credit limit applicable to the card.
  • The cardholder must notify the credit card company and the school immediately if the card is lost or stolen.
  • The Principal, Executive Officer, and Office Administrator are the primary users of the school credit card.
  • The cardholder must return the credit card to the School upon ceasing employment there or at any time upon request by the Board.
  • The Board must cancel and destroy credit cards which are under the name of former employees within five working days of the employee’s job termination.

Review schedule: Within 3 years

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