HomeMy WebLinkAboutP 133 FIN - Management of School Council Funds
POLICY P 133 FIN
TITLE: MANAGEMENT OF SCHOOL COUNCIL FUNDS
Date Authorized: 24 September 2013
Last Revised: 20 May 2025 (Tier 1 Minor Housekeeping Edits)
Last Reviewed: 24 September 2013
COMMITMENT TO INDIGENOUS RIGHTS, HUMAN RIGHTS, AND EQUITY
The Board recognizes its responsibility to ensure that OCDSB policies and procedures promote and
protect Indigenous, equity, and human rights and to seek to address and eliminate racism and
structural and systemic barriers for students, staff, and community.
1.0 RATIONALE
To govern the management and accounting of school council funds in a consistent, transparent
and financially sound manner.
2.0 DEFINITIONS
Please refer to Appendix A for a full list of definitions used in this policy.
3.0 GUIDING PRINCIPLES
3.1 The District believes that sound financial management of school council funds is an
essential component of effective governance. To ensure transparency and
accountability, the District sets standards for the management, monitoring and use of
school council funds.
3.2 The Associate Director of Education, Business, shall be responsible for the oversight of
school council funds.
3.3 School Councils must adhere to the principles of transparency, accountability, and
sound financial practice in the management of school council funds by:
a) adhering to District policies and procedures, legislation, associated directives and
guidelines;
b) appointing a treasurer;
c) maintaining ongoing and effective oversight of the management of school council
funds;
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d) establishing the segregation of duties and internal controls for the effective and
transparent management of funds;
e) ensuring financial records are kept and maintained properly in accordance with
District practice;
f) reporting, as required, monthly through school council meetings and annually
through a report to the District; and
g) being subject to audit by the District through internal review and/or an external
auditor.
4.0 SPECIFIC DIRECTIVES
Appointments
4.1 Annually, every school council shall appoint a Treasurer and a minimum of two officers
with signing authority for school council finances.
Determine Type of Account
4.2 Every school council shall maintain its funds in a designated account used exclusively
for school council purposes.
4.3 Prior to June 2014, and before every June thereafter, if contemplating a change, every
school council shall render a decision about whether the account used to maintain the
school council funds will be held:
a) In an special purpose account at the school managed through the school
district's financial system; or
b) through a recognized financial institution.
4.4 Upon making this decision, the school council shall provide notice in writing of the
decision to the Associate Director of Education, Business.
4.5 A school council, at the start of its term, may review its decision about the management
of school council funds, and if a decision to change the practice is made, the Associate
Director of Education, Business shall be notified.
4.6 Where the account(s) is held by the school, the principal shall be a designated signing
officer.
Management and Monitoring
4.7 School councils which manage their funds through the District will adhere to established
District financial accounting procedures.
4.8 In order to manage school council funds in an account at an authorized financial
institution, the school council must annually agree in writing to comply with the District’s
conditions and procedures, which will include, but are not limited to, the following:
a) to maintain records and implement procedures in accordance with District
guidelines;
b) to make records available for review by the District’s internal reviewers following
District reporting procedures;
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c) to submit to an internal review upon request and/or an external audit; and
d) to submit annual financial summaries and statements every school year, ending
August 31, upon request.
4.9 Notwithstanding the type of account, the school council treasurer shall maintain detailed
records of all financial transactions.
Compliance
4.10 Where any individual has reason to believe that the management of school council
funds is not in accordance with this policy or may be subject to an irregularity, he or she
shall bring his or her concern to the attention of the treasurer, the school council chair,
the school principal, the superintendent or the Associate Director of Education,
Business, as appropriate.
4.11 The Associate Director of Education, Business shall be authorized to initiate an
investigation where there is reason to believe there is or has been a financial
irregularity.
4.12 In the event of a disagreement between the school principal and the school council as
to the appropriate use and/or management of school council funds, which cannot be
resolved through discussion and consultation, the matter should be referred to the
Superintendent and/or Associate Director of Education, Business, for further mediation.
4.13 Should the Associate Director of Education, Business, determine that allegations of
financial irregularity of the results of an investigation warrant, the District may
temporarily assume control of the school council’s funds:
a) The Director of Education shall inform the Board at the first available opportunity.
b) Within 90 days, the Associate Director of Education, Business would present to
the Board a plan aimed at restoring control to the school council, including, as
necessary, conditions and a projected timeline.
c) The Director of Education shall authorize procedures under this policy to further
enable compliance by school councils with this policy.
5.0 APPENDICES
Appendix A: Policy Definitions
6.0 REFERENCE DOCUMENTS
Education Act and Regulations
OCDSB Policy P 014 SCO - School Councils
OCDSB Procedure PR 509 SCO - School Council Elections, Constitutions and By-laws
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APPENDIX A: POLICY DEFINITIONS
In this policy,
Board means the Board of Trustees.
District means the Ottawa-Carleton District School Board (OCDSB).
School Council means an advisory body representing the parent community within a school which
provides advice to the school principal in accordance with P.014.SCO School Councils. A school
council operates as a representative entity but may not be incorporated, and as such is permitted by
the District and the school principal to raise funds for specified purposes.
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