Schools and Preschools Financial Management Policy

Transcription

1 Plicy 10/3084 part 3 Schls and Preschls Financial Management Plicy Summary Publicatin Date May 2015 Review Date December 2016 Related Legislatin/Applicable Sectin f Legislatin Related Plicies, Prcedures, Guidelines, Standards, Framewrks Replaces Plicy Officer (Name/Psitin) Educatin Act 1972 DECD Schl and Preschl Financial Management Instructins Nt applicable Chris Rberts, Manager Financial Cmpliance and Plicy Plicy Officer (Phne) Plicy Spnsr (Name/Psitin) Executive Directr Respnsible (Name/Psitin/Office) Applies t Key Wrds Status Apprved by Carmine Vetere, Directr Finance and Investing DECD Schls and Preschls finance, financial management Apprved Apprval Date 5 May 2015 Versin Schls and Preschls Financial Management Plicy May 2015

2 REVISION RECORD Date Versin Revisin Descriptin 18 June Final 14 April New plicy frmat 2 Schls and Preschls Financial Management Plicy May 2015

3 CONTENTS 1. TITLE PURPOSE SCOPE POLICY DETAIL ROLES AND RESPONSIBILITIES MONITORING, EVALUATION AND REVIEW DEFINITIONS AND ABBREVIATIONS SUPPORTING DOCUMENTS REFERENCES Schls and Preschls Financial Management Plicy May 2015

4 1. TITLE Schls and Preschls Financial Management Plicy 2. PURPOSE T prescribe that mandatry financial management instructins will apply t DECD schl and preschl financial management activities. 3. SCOPE All DECD Schl and Preschl staff. Gverning Cuncil/Cuncil/Management Cmmittee members and emplyees in s far as financial management instructins issued by DECD will als encmpass references t requirements that are detailed in Administrative Instructins and Guidelines Sectin 5 and apply t such parties. 4. POLICY DETAIL The DECD Chief Executive has delegated respnsibility fr determining and maintaining financial management plicies applying t DECD schls and preschls t the DECD. These dcuments may als reflect the requirements f Administrative Instructins and Guidelines Sectin 5. The DECD will ensure that a cmprehensive set f financial management instructins prescribing DECD requirements in relatin t DECD schls and preschls are prperly dcumented and maintained. This plicy (and assciated financial management instructins) mandates that schls and preschls will: ensure sund financial management practices are implemented within schl and preschl peratins; ensure that the resurces prvided t the schl r preschl are deplyed in accrdance with their apprved r intended purpse; ensure all incme, invices and receipts are recgnised prmptly fllwing the prvisin f gds/services; ensure that all expenditure is recgnised, valid invices are prcessed in a timely manner fllwing the prvisin f gds received and services rendered and that all payments are prmptly recrded and allcated against the crrect accunts payable (where applicable); ensure all assets are safeguarded. Physical cntrls must be established and maintained ver access t and use f assets; and ensure that liabilities are recgnised in a timely and accurate manner. Officers within Schls and Preschls must cmply with the requirements f these instructins. The DECD will ensure that the financial management instructins are reviewed annually and updated as required. 4 Schls and Preschls Financial Management Plicy May 2015

5 The DECD will ensure that the financial management instructins are readily available fr reference by DECD schls and preschls and that schls and preschls are kept infrmed f changes t instructins. 5. ROLES AND RESPONSIBILITIES Rle DECD schl and preschl staff Authrity/Respnsibility fr Develp and maintain mandatry financial management instructins applying t DECD schls and preschls Cmply with the requirements f DECD financial management instructins 6. MONITORING, EVALUATION AND REVIEW As part f the DECD Financial Management Cmpliance Prgram, this plicy will be reviewed and updated by the Financial Accunting and Cmpliance Unit in accrdance with the review date shwn n the first page f this dcument. Updated plicies must be apprved in accrdance with the DECD Plicy Framewrk. 7. DEFINITIONS AND ABBREVIATIONS Term DECD/The Department Meaning Refers t the SA Gvernment administrative unit knwn as the Department fr Educatin and Child Develpment. 8. SUPPORTING DOCUMENTS Schl and Preschl financial management instructins 9. REFERENCES Educatin Act 1972 Administrative Instructins and Guidelines Sectin 5 Public Finance and Audit Act 1987 Treasurer s Instructins 5 Schls and Preschls Financial Management Plicy May 2015