Warrington School/Board Of Trustees/Financial Condition Policy

National Administration Guideline 4
=Warrington School Financial Condition Policy=

Therefore, the principal shall not:


 * 1) incur unauthorised debt
 * 2) violate generally accepted accounting practices or principles
 * 3) use tagged funds for purposes other than those approved
 * 4) spend more funds than have been allocated in the fiscal year without prior board approval
 * 5) fail to ensure all money owed to the school is collected in a timely manner
 * 6) fail to make timely payment to staff and other creditors
 * 7) sell or purchase unauthorised property
 * 8) fail to ensure that all relevant government returns are completed on time
 * 9) fail to ensure that no one person has complete authority over the school’s financial transactions
 * 10) make any purchase:
 * 11) * of over $500 without having obtained comparative prices and quality
 * 12) * of over $500 without an adequate review on ongoing costs, value,reliability and origin
 * 13) * of over $500 on a single item without first seeking board approval

Review schedule: Annually