School Council Treasurer

Summary

This training session for school council treasurers emphasizes the crucial role they play in supporting education by providing feedback to principals and school boards to enhance student success. Treasurers are responsible for accurate financial reporting, adhering to guidelines for school funds, and facilitating payments without approving expenditures. The session outlines the treasurer's responsibilities, including preparing monthly reports, maintaining financial records for seven years, and collaborating with the school secretary for efficient financial management.

Takeaways

• 🏫 The role of the school council treasurer is integral to the education system, providing support and feedback to improve student success.
• 📊 Treasurers are responsible for accurately reporting revenue and expenditures to the council regularly, following the guidelines for school generated funds.
• 📋 The treasurer's report should be a standard item on the school council meeting agenda, detailing the financial status and transactions.
• 🔍 Treasurers should review the 'Guidelines for School Generated Funds' document for specifics on their responsibilities.
• 📉 Monthly treasurer's reports should include opening and closing balances, year-to-date deposits and payments, ensuring continuity from the previous month's records.
• 🗣️ Verbal reports should be brief, highlighting key financial points of interest to council members, with the secretary noting the report's receipt and approval in the minutes.
• 💼 Treasurers do not approve expenditures but facilitate payments, adhering to school council regulations and maintaining records for seven years.
• 👥 A two-person system is recommended for counting money to ensure accuracy and accountability.
• 💼 The school secretary plays a crucial role in processing payments, requiring council approval and maintaining up-to-date financial records.
• 📝 The school secretary uses financial software to generate necessary reports, aiding the treasurer in producing accurate and timely financial information for council meetings.
• 🤝 Establishing a good relationship with the school secretary can greatly facilitate the treasurer's role, ensuring the smooth functioning of the school council.

Q & A

What is the primary role of school councils in the education system?

The primary role of school councils is to provide support and feedback to principals and school boards to improve student success.

What are the main responsibilities of a school council treasurer?

The treasurer's main responsibilities include accurately reporting revenue and expenditures to the council on a regular basis and acting in accordance with the guidelines for school-generated funds.

Where can the guidelines for school-generated funds be found?

The guidelines for school-generated funds are available at each school, and one can ask the school principal for a copy if they haven't reviewed it yet.

What should be included in the treasurer's report at each school council meeting?

The treasurer's report should include sources and use of funds, the current financial position of the council, and should be a standing item on each school council meeting agenda.

What are the contents of the monthly treasurer's report?

The monthly treasurer's report should contain the opening balance, year-to-date total deposits and payments, and the closing balance, which will be the following month's opening balance.

How should the treasurer's verbal report be conducted during the council meeting?

The treasurer should keep the verbal report brief, only going over highlights that will be of interest to council members.

What is the role of the school council secretary regarding the treasurer's report?

The school council secretary notes in the minutes that the treasurer's report has been received and approved.

What are the requirements for school council financial transactions and records?

School council regulations require that financial transactions and minutes be kept at the school for seven years, and any person may examine them without charge.

What is the process for counting money and ensuring accuracy?

Two individuals should always count the money to double-check each other's math to ensure accuracy.

What is the procedure for making payments from school council funds?

To process a payment, the school secretary needs to see that it's approved, often recorded in school council meeting minutes, and then complete a cheque requisition form if required. The principal signs off on the form, and the secretary issues the cheque.

How does the school secretary assist the treasurer in managing financial records?

The school secretary enters information into the school banking program to keep the records up to date and uses the financial software to generate the necessary reports for council meetings.

What is the importance of establishing a good relationship with the school secretary for the treasurer?

Establishing a good relationship with the school secretary can make the treasurer's job easier, as the secretary can assist with generating reports and managing financial records.