Targeted resource allocation is essential in ensuring the best possible
results for students are achieved from limited resources.
Aims:
To ensure that funds are used as effectively as possible.
Implementation
The school has access to limited funds, including limited locally raised
funds.
Some funds are required to be spent in certain ways or on specific projects.
The remaining funds may be spent at the School Council's discretion.
A Finance subcommittee of School Council will assist the principal in the
formation, prioritisation and monitoring of all budgets.
In doing so, the principal will seek budget submissions from staff members.
The school's priority programs will attract a high priority when budgets
are being decided.
Aggregated statistical data will contribute toward decisions of budget priority.
Budget submissions must be submitted on the agreed proforma, and must include
both substantiating reasons for the purchase and intended measurable outcomes.
Budgets will not be based on historical allocations, but will instead be
targeted toward areas of greatest need.
In the likely event that budget submissions are greater than the funds available,
some submissions will need to be reduced, unfunded or require School Council
raised funds.
Annual budgets must be balanced against longer-term school projects such
as playgrounds development or significant equipment purchases.
A 3-year budget direction will be developed by the Finance Committee and
submitted to school council for ratification.
All purchases and allocations made from locally raised funds will be approved
by the School Council.
Whilst the principal always retains overall responsibility for the day-to-day
financial management, the principal may delegate individual staff members
the responsibility of management of specific budgets.
The expenditure of, and outcomes achieved by each budget will be monitored
and reported in full to the School Council.
Evaluation:·
This policy will be reviewed as part of the school’s three-year review cycle.
This policy was last ratified by School Council in.... October
2003