Tairangi School Finance and Property Policy
National Administration Guideline 4
According to the legislation on financial and property matters, each Board of Trustees is also required in particular to:
- allocate funds to reflect the school’s priorities as stated in the Charter;
- 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;
- comply with the negotiated conditions of any current asset management agreement, and implement a maintenance programme to ensure that the school’s building and facilities provide a safe and healthy learning environment for students.
Tairangi School will comply with its financial and property obligations to ensure a safe and healthy learning environment.
To maximise the benefit to students through prudent allocations and control of financial and property assets.
- The school will have written management procedures which are actively practiced and regularly reviewed for compliance.
- The Board will allocate funds to reflect the school’s priorities as stated in the Charter by:
- Developing a long-term strategic plan.
- Ensuring that the school provides an annual operational plan and budget that reflects the Board’s strategic plan, for the Board’s assessment and approval.
- The operational plan and draft budget will be completed by the end of the school year.
- The Board and the School will have management procedures for monitoring and controlling expenditure:
- Accounting systems, including petty cash, bank accounts, control and monitoring of resources.
- Internal spending, including ordering and purchase of resources.
- Capital assets
- The Board will ensure that the annual accounts are prepared and audited as required by the Public Finance Act 1989 and the Education Act 1989. The Board will have written procedures documenting this responsibility.
- The Board delegates management of the school’s day to day financial affairs to Education Services Ltd.
- The Board delegates authority to the principal to approve all expenditure within the approved budget.
- The Board will comply with any current asset management agreement, including the Property Occupancy Agreement. The Board will have written procedures designated in a Property Management plan documenting this responsibility. This will include a system for maintaining resources, furniture, furnishings and equipment.
- Buildings and facilities at Tairangi School will be safe and healthy.
- The school will comply with all current legislation regarding property. The Resource Management Act 1991, the Building Act 1991 and the Fire Act 1991 will be included in this compliance. The school will have a documented management process which details these requirements.
- The school will follow the documented 10 Year Maintenance and 5 Year Property Plans and update them each year.
- Compliance Reporting is documented in National Administration Guideline 2.
Tairangi School will have a set of implemented management procedures and Board directives which will meet all financial obligations.
Reviewed: December 2014
MEETING THE REQUIREMENTS OF NAG 4
Key Tasks for the Finance and Property Portfolios
- Establish Finance and Property sub Committee of the Board of Trustees
- Develop Strategic and Operational Plans
- Establish an annual budget and monitor its performance throughout the year
- Annually present accounts for audit
- Establish, implement, monitor and review the school 10 Maintenance Plan
- Report to the full Board of Trustees on the Finance and Property portfolios
Tairangi School had attempted to meet the requirements of NAG 4 through the following:
- Accounting for Assets and Depreciation
- Theft and Fraud Prevention
- Cash Resource Management
- Professional Development
- Computers in Classrooms
- School Strategic Plan
- Annual School Management Plan
- Sub Committee reports to the Board of Trustees
- Monthly financial statements
- Annual audited accounts
- Annual Budget Document
- Property Occupancy Agreement
- 10 Year Maintenance Plan
- Applications for finance for property development.
File:NAG4FinanceProperty.doc Finance and Property Policy