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 compliance||Main audience||Other|
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)
- Kiwi Park Models and model financial policies
- Managing school finances
- Attendance dues accounts – state-integrated schools
- Capital works – state schools
- Capital works – state-integrated schools
- Raising funds – state-integrated schools
- Related parties – state-integrated schools
- School Annual Accrual Report (SAAR) Guidelines, Checklist and Certification
- School tax issues
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.
- Analysis of variance
- Statement on Kiwisport funding
- Financial statements (all pages – please check)
- Statement of Responsibility signed and dated
- 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.
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.
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.
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:
These Kiwi Park School example policies have been developed to help your school manage a range of common financial situations:
- Asset management policy [DOCX, 15 KB]
- Cash management policy [DOCX, 17 KB]
- Credit card policy [DOCX, 16 KB]
- Entertainment policy [DOCX, 15 KB]
- Finance policy [DOCX, 14 KB]
- Protected disclosures policy [DOCX, 17 KB]
- Schedule of delegations [DOCX, 17 KB]
- Sensitive expenditure policy [DOCX, 15 KB]
- Theft and fraud prevention policy [DOCX, 16 KB]
- Travel policy [DOCX, 17 KB]
State-integrated schools must provide audited annual attendance dues accounts to the Ministry of Education.
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.
- Proprietas Trust model accounts example [XLSX, 20 KB]
- Model for calculating attendance dues data [XLSX, 20 KB]
The following guide sets out the list of lawful items that attendance dues can be used for.
Boards need to manage funds for capital works in accordance with your school's 5-year agreement for capital funding (5YA).
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.
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.
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.
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.
If you have difficulty accessing these documents email: firstname.lastname@example.org
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.
- Read more at School tax issues.
- Our Circular 2018/01 provides more details on payments by parents, such as fees and donations.
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