A school councillor who has a False Council is responsible for ensuring that question about compliance with the school maintains and monitors a an internal control can't ask the system of internal controls. All councillors question unless they are the can and should ask questions when they school council chair. have them. Handout 1 Financial reports: reports typically provided to finance GL21150 operating statement (detail) – GL21157 annual sub-program budget – Bank reconciliation GL210006 journal report – GL21151 cash flow statement – DR21101 sundry debtor balance – DF21102 family trial balance – DR21309 sundry debtor credit notes – DF21309 family credit notes – CR21118 invoices awaiting payment – GL21161 balance sheet – GL21005 cancelled payments – GL21004 cancelled receipts – GL21002 cash receipts report – GL21003 cash payments report – GL21152 Bank Account Movements Details – Purchasing Card Statements (if applicable) School Budget Management Report. Financial reports provided to council operating statement (detail) balance sheet. Reviewing reports Operating statement (detail) This report: compares actual to budgeted revenue and expenditure by category for the whole school for the month and year to date
A school councillor who has a question about compliance with an internal control can't ask the question unless they are the school council chair. False Council is responsible for ensuring that the school maintains and monitors a system of internal controls. All councillors can and should ask questions when they have them. Handout 1 Financial reports: reports typically provided to finance GL21150 – operating statement (detail) GL21157 – annual sub-program budget Bank reconciliation GL210006 – journal report GL21151 – cash flow statement DR21101 – sundry debtor balance DF21102 – family trial balance DR21309 – sundry debtor credit notes DF21309 – family credit notes CR21118 – invoices awaiting payment GL21161 – balance sheet GL21005 – cancelled payments GL21004 – cancelled receipts GL21002 – cash receipts report GL21003 – cash payments report GL21152 – Bank Account Movements Details Purchasing Card Statements (if applicable) School Budget Management Report. Financial reports provided to council operating statement (detail) balance sheet. Reviewing reports Operating statement (detail) This report: compares actual to budgeted revenue and expenditure by category for the whole school for the month and year to date
isg_financemanual.docx