Managing school finances

Resources, templates, and financial guidance to support the governance of school finances and financial reporting. Annual financial reporting is due to the Ministry on May 31 every year.

Level of complianceMain audienceOther

Required

  • Boards
  • Principals
  • Proprietors
  • Administrators
  • Business Managers
  • Parents, Caregivers and Whānau

Boards, principals and proprietors all have different responsibilities in the school financial management and financial reporting. In additional to their role overseeing the financial governance of schools, there are specific requirements across all areas of finance that must be adhered to. Boards, principals, and proprietors will be required to read further at the links referenced below.

Schools' annual report (annual financial statement)

The annual report contains your school's audited annual financial statements. These show how the school board has used its funds to achieve its charter goals.

Annual report timeline
End of January Payroll end of year report and error schedules available to schools.
February/March Board approves the draft annual report to send to your auditor.
31 March Draft reports need to be with your auditor.
April/May The board needs to sign the statement of responsibility and financial statements. Your auditor will follow with a signed audit report.
31 May Deadline for the annual report and audited financial statements to be submitted to the Ministry.

As soon as possible after the audit is complete, the board must ensure its annual report is available to the public on an internet site maintained by or on behalf of the board. Read more about planning and reporting, including key dates at planning and reporting guidance.

Annual report checklist

Make sure that you can check off each of the following items before you send your annual report to the Ministry.

  1. Analysis of variance
  2. Statement on Kiwisport funding
  3. Financial statements (all pages – please check)
  4. Statement of Responsibility signed and dated
  5. Audit report (not the management letter) signed and dated

Our Circular 2020/07 has additional useful information.

Submitting your report

Use the Secure Data Portal(external link) to send us your annual report.

Publishing requirements

Find out more about your publishing and privacy requirements at publishing your documents online

Kiwi Park Models, training and worksheets

Access our useful training resources, worksheets and checklists at Schools' annual report (annual financial statement) resources.

Model liquidation statement – Kiwi Park School

The Kiwi Park School model liquidation statement illustrates the suggested format and content for your school’s statement of movements in equity, statement of financial position and notes to the statements.

Kiwi Park model liquidation statement [RTF, 99 KB] 

Managing school finances

For guidance on best practice in financial governance, financial management and reporting, see the Financial Information for Schools Handbook [PDF, 1.6 MB]

Download a Microsoft Word version of the handbook:

Financial Information for Schools Handbook [DOCX, 1.7 MB]

Buy vs Lease Tool [XLSM, 99 KB]

Model financial policies

These Kiwi Park School example policies have been developed to help your school manage a range of common financial situations:

Attendance dues accounts – state-integrated schools

State-integrated schools must provide audited annual attendance dues accounts to the Ministry of Education.

Attendance dues accounts for integrated schools [DOC, 85 KB]

Accounts requirements and templates

Our Circular 2020/06 explains the requirements of your audited annual attendances dues accounts.

We've created model annual attendance dues accounts for a fictitious integrated school proprietor called Proprietas Trust. The model provides a template you can follow, and illustrates the required content and format of the annual accounts.

The following guide sets out the list of lawful items that attendance dues can be used for.

Attendance dues guidance for proprietors [DOC, 85 KB]

 

Capital works – state schools

Boards need to manage funds for capital works in accordance with your school's 5-year agreement for capital funding (5YA).

Capital works – state schools

Capital works – state-integrated schools

Proprietors of state-integrated schools own or lease their school property and are responsible for capital works. Boards can undertake capital works with the proprietor's and Ministry of Education's approval. Read about the correct process when your board undertakes and funds capital works on land owned by the proprietor.

Capital works – state-integrated schools

Raising funds – state-integrated schools

Both boards and proprietors of state-integrated schools can raise funds. These funds must be used for purposes that match the roles and responsibilities of each party. 

Raising funds – state-integrated schools

Related parties – state-integrated schools

This guidance includes examples of related-party disclosure notes that cover the most common disclosures that your school may need to make in its financial statements.

Related parties – state-integrated schools

School Annual Accrual Report (SAAR) Guidelines, Checklist and Certification

The SAAR guidelines and checklist show how your school should update its financial records for Novopay payroll information.

The SAAR certification form is to be used by your school as evidence that the personnel cost contained in your financial system has been reviewed and is correct.

Your school needs to keep the certificate with your personnel records and show it to your school auditor.

SAAR Reconciliation Instructions [PDF, 653 KB]

School Annual Accrual Report Certification form [PDF, 90 KB]

School Error report summary calculator [XLSX, 9.5 MB]

If you have difficulty accessing these documents email: info@novopay.govt.nz

School tax issues

Your school board, school trust and parent teacher association (PTA) needs to know about how the Charities Act 2005 affects you and whether you need to register with the Charities Commission.

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