Administrative Procedure 512
Student Union Funds
Student Union/Council funds shall be recorded and accounted for following bookkeeping procedures approved by the Principal and/or Secretary Treasurer.
Student Union/Council funds are the moneys, including fees, which are raised by the Student Governing group at a school, for the purpose of financing their School-based activities.
1. Student Unions/Councils shall prepare an annual budget which will be presented to the Student body for approval.
2. All Student Unions/Councils shall present a Financial Statement of their operation for the year ending June 30, to the Principal and to the Student body.
3. A copy of the annual Financial Statement shall be appended to, and form part of any school financial reports.
4. Major items of expenditure shall be presented to the Student body for approval.
5. Expenditure projects which require financing over a period of time more than one year require prior approval from the Secretary Treasurer or designate.
6. The Principal should ensure that the expenditure of these moneys will benefit the majority of the Student body rather than a limited number of students.
7. Copies of the budget/annual financial statement, etc., shall be made available to the School Council for information.
Reviewed: December, 2011
Next Review by: December, 2016
School Act Section 60, 61
Policy 11: Delegation
AP 510 School Accounting System
AP 511 School Generated Funds
AP 513 Petty Cash
AP 514 Cash in School Buildings