AP 521 - School-Generated Funds (SGF)
The division supports the use of school-generated funds to supplement the non-instructional operations of the school program. All school-generated funds are assets of the division and subject to this administrative procedure.
- School-generated funds (SGF) are defined as funds collected and disbursed at the school level that are subject to the control and significant influence of a division employee at the school level. Funds include all student association operations and school council funds if any division employee has control or influence over the expenditure of the funds.
- SGF should only be considered for specific purposes and must be used only for the purpose for which they were raised. Secondary uses should be designated at the outset of the fund-raising program to be applicable in the event that the funds raised may exceed requirements.
- Schools must account for SGF and report in the format prescribed by the Secretary Treasurer or designate. Schools must maintain full SGF records and keep them on file for seven (7) years.
- SGF shall be subject to internal audit at least once in a three (3) year period.
- All SGF bank accounts must be registered in the name of Palliser Regional Schools with the school listed as a secondary name on the account. All bank accounts must provide for two (2) signatures on all cheques, one (1) of which must be the principal or vice-principal.
- All purchases must be made in accordance with Administrative Procedure 514 – Purchasing.
- All capital assets purchased with SGF are assets of the division and must be purchased through the division financial system.
- Schools must provide detailed analysis of all surplus SGF including details of the specific purposes that the SGF will be used. In general, SGF surpluses should be kept to a minimum amount required for cash flow.
- SGF must not be used to provide salary or expense reimbursement to any division employees, including casual employees. All employee’s salaries and expense reimbursement must be processed through the division financial system.
- Funds received through donations (including scholarships) and grants must be processed through the division financial system as must all purchases made with these funds.
- Failure to adhere to this administrative procedure may result in removal of the offending school SGF privileges.
School Act, Section 60, 61
Updated March 2017