B-03 Financial Accountability of School Generated Funds

The District School Board of Niagara (DSBN) is committed to meeting the following objectives with respect to the financial accountability of school generated funds:

1. Ensure proper handling and management of funds by providing appropriate guidance, authority and protection to school staff and fundraising volunteers by making available specific procedures for the administering, recording and reporting of school generated funds.
2. Meet the public’s expectations and validate the public’s trust regarding the stewardship of school generated funds, both school and parent administered.
3. Meet the DSBN’s requirement under provincial regulations for the financial accountability of school councils involved in fundraising.

School generated funds include all school administered and parent administered monies that are received, raised or collected in the name of the school or school activity. This includes monies derived from fundraising activities, contributions/donations, corporate contracts/partnerships and monies received directly from students. School generated funds do not include funds allocated to schools from the DSBN’s operating budget.

It is the responsibility of the Principal, on behalf of the DSBN, to ensure that the requirements associated with school generated funds are met.

All funds raised or collected through School Generated funds will be used for the direct benefit of the students of DSBN.