Annual reporting requirements
As reflected in the Department’s Parents and Citizens’ Associations – State Schools procedure, there is a legislative requirement for principals to provide copies of their P&C’s audited financial documents (including annual audited statements, with appended certificates, auditor’s report and any management letters) and the contact details for the incoming Executive Committee to the regional director by 31 May each year.
While Independent Public Schools are required to collect the P&C’s audited financial statement, they do not need to forward it to the regional director.
Please contact your regional office for further information.
The forms that should accompany the financial documents are located in the Transmission Document below.
Regular financial reporting requirements
In accordance with the P&C model constitution (clauses 17.4.9 and 19.7.4), the P&C Treasurer and subcommittee reports and financial statements, and any business arising from these reports and statements, are tabled at a general meeting, which occur at least three times a semester.
The P&C Accounting Manual (page 37 of version 3.3) specifies the following details to be included in the monthly financial report to be presented at each P&C meeting:
- a bank reconciliation as at the end of the previous calendar month
- a list of the receipts and payments for the previous calendar month for endorsement
- a trading statement showing year-to-date figures for each trading activity (required every three months but a monthly report is preferable), and
- monitoring of the budget position.
Other than routine stock purchases, payments for the future month must also be tabled and approved at the general meeting.