What is a School Fund Account?
Many schools choose to raise funds using a wide range of activities such as fetes, book fairs, fund
raising events, tuck shops etc. The objective of these funds is to support the school's broader
activities. Voluntary school funds provide additional materials and opportunities to enhance
children’s learning experiences over and above those provided by the school’s delegated budget.
The school's governing body has ultimate responsibility for these funds, as it also has for any trading organisations controlled by the school, but it is generally school staff who have responsibility for the day to day operation of such funds and they should report regularly to the Governing Body.
Although such funds are not classed as ‘public’ money, the standards for the guardianship of these need to be as rigorous as those for the administration of the school’s delegated budget. Parents, pupils and other benefactors are entitled to receive the same standards of stewardship for the funds to which they have contributed.
The audited accounts for this year’s School Fund account are shown in the attached document.
Federation Finance Manager