Finances

Looking after Parent Council finances

If you do not have a Clerk for your Parent Council, you will need to ensure that someone in the Parent Council has the job of looking after the accounts.  Even if you do have a Clerk, reports about the accounts should be provided at each meeting and an annual report provided at the Annual Meeting.

A further option is for the Parent Council funds to be managed by the education authority.  This would mean that the Parent Council would not need to open a bank account.  However, an account would be needed if the Parent Council did any fundraising.

The accounts should be audited and presented to the Annual Meeting.  The auditor does not need to be an accountant - simply someone who is used to working with figures, who is known to and trusted by the Parent Council, and who is independent of the Parent Council.

What your constitution might say
The treasurer will open a bank or building society account in the name of the Parent Council for all Parent Council funds. Withdrawals will require the signature of the Treasurer and one other Parent Council member.

The Treasurer will keep an accurate record of all income and expenditure, and will provide a summary of this for each Parent Council meeting and a full account for the Annual Meeting. The Parent Council accounts will be audited by the auditor appointed at the previous Annual Meeting.

The Parent Council shall be responsible for ensuring that all monies are used in accordance with the objectives of the Parent Council.