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Parent Fund

Parent Fund. Parent Fund. What is it? A budget set aside within the school budget Parent donations Parent, student and community fund-raising Managed by the direction of this school under the supervision of the Governing Board. Development of guidelines for expenditures

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Parent Fund

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  1. Parent Fund

  2. Parent Fund • What is it? • A budget set aside within the school budget • Parent donations • Parent, student and community fund-raising • Managed by the direction of this school under the supervision of the Governing Board. • Development of guidelines for expenditures • Approval of activities throughout the year • Approval of each expenditure

  3. Annual Spending Priorities • Who was involved? • Governing Board (staff & parents) • Staff council • PPO • Parent Groups including Kids Cup • Developed and refined over the 2007 school year and adopted by the 2007 Governing Board as the official policy for spending

  4. Annual Spending Priorities • Three main spending priorities: • School Project (40%) • Program Assistance (60%) • Operational Budget Support (Net=0%) • PPO • Kids Cup • Note: • - Money may only be spent from the fund after approval of the Governing Board. • Money raised in a given year is only available to spend in the following year. • Staff, PPO and other beneficiaries applying for funding will submit an annual needs budget at the beginning of each school year.

  5. Allocating Funds

  6. School Project • Voted on by Governing Board in June and ratified at General Assembly in September • Major fund raising objective for the year. • Unspent funds from a given year automatically transferred to this cumulative account.

  7. Criteria for Approval of funding • Majority Vote of GB considered under the following criteria: • Request made against one of the identified priorities • To the general benefit of the school or as large a proportion as possible • Not judged by GB to be the responsibility of the School Board or Ministry • Once all money is spent from a fund no other applications will be accepted • No transfer between fund priorities without majority vote of GB first • The fund cannot go into deficit. It must maintain a minimum balance of $2,000 • The School project is the only fund allowed to cumulate from year to year • All unspent funds at the end of the year will transfer automatically into the cumulative School Project Fund

  8. Current Parent Fund Balance • $19 000 • School Project Balance • Unspent from 2006: $ 7 000 • Allocation from 2007: $ 4 800 • $11 800

  9. School Project 2008 • Play Structure for School Yard • Total Investment Required: • Equipment: $40 000 • Installation: $10 000

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