Managing school finances

School finance information, including how to prepare your school’s financial statements and general financial management information.

Attendance dues accounts – state-integrated schools

Proprietors of state-integrated schools need to prepare annual attendance dues accounts. There is a template and example for you to follow, with notes to explain the entries in the example.

Bank accounts and securities

The Crown Entities Act 2004 sets limits on the types of financial institutions that schools can bank with or invest funds in. Find out which banks and financial institutions are approved for schools.

Capital works – state schools

You need to manage funds for capital works in accordance with your school's 5-year agreement for capital funding (5YA). Find out how to do this.

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 boards undertake and fund capital works on land owned by the proprietor.

Conflicts of interest – school boards

If a board member has a financial interest in any contract with the board worth more than $25,000 a year, including sub-contracts, they must get approval from the Secretary for Education for that contract. Find out why, and what you need to do to get approval.

Raising funds - state integrated schools

Both boards of trustees and proprietors of state-integrated schools can raise funds. These funds must be used for purposes that match the roles and responsibilities of the board of trustees and proprietor. The funds raised by each party must be kept separate. 

Annual report (annual financial statement)

This was previously called the Kiwi Park School model annual financial statement. It shows to prepare their annual report due to us by 31 May each year. 

Model liquidation statement – Kiwi Park School

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

Model financial policies – Kiwi Park School

Download these templates to help you develop financial policies for your school.

Related parties – state-integrated schools

All integrated schools have a proprietor. Under current financial reporting standards, the proprietor is a related party for all state-integrated schools because it has representatives on the board.

The example related-party disclosure notes will cover the most common disclosures that your school may need to make in the financial statements.

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

The SAAR guideline and checklist shows how schools should update their financial records for Novopay payroll information. The SAAR certification form is to be used by schools as evidence that the personnel cost contained in their financial system has been reviewed and is correct.

Schools need to keep the certificate with their personnel records and show it to their school auditor.

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

School tax issues

School boards, school trusts and parent teacher associations (PTAs) need to know about how the Charities Act 2005 affects them and whether they need to register with the Charities Commission.

Accounting for shared funds

Your school may share resources and funding with other schools for various reasons, such as for projects to improve teaching and learning, for teacher professional development, to improve efficiencies or to reduce administration costs. Learn how to account for these correctly.

Accounting for donations, fundraising and other income

Your school may receive income from a variety of sources, as well as government funding, such as donations, fundraising, activities, trading, international students, hostels and use of land and buildings. Find out how to account for these.

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