Streethouse School Terms of Reference for School Funds 1 and 2
Purpose of the Funds
The Streethouse School Fund will be constituted to advance the education provided by the school.
The school fund exists to provide additional finance opportunities to enhance the learning experiences of children. The fund is used to provide items over and above those provided for through the school’s delegated budget
Administration
The official title of the school fund is Streethouse School Funds 1 & Streethouse School Funds 2. The fund is administered by Dawn Holmes who holds the position of School Business Manager at the school. The day to day management of the fund is the responsibility of the Headteacher although overall responsibility for the fund lies with the Governing body. The Resources Committee hold the rights to decide on spending priorities and fund raising needs. This Committee meets on a termly basis.
For expenditure under £500, the agreement of the Headteacher is sufficient. For purchases over£ 500 approval must be from the Resources Committee or the Chair of Governors. The school fund is banked in a Yorkshire Bank Current Account. Cheque signatories are the Headteacher, Deputy and a member of the school staff, two from three
Audit
The fund has a financial year end of 31 August, Annually, a summary of income and expenditure, and a statement of balances, is prepared by the School Business Manager. The financial statements are audited by a local Authority Auditor. Audited accounts are presented to the Governing Body each year for formal approval, in accordance with the Wakefield Scheme for Financing Schools.
School Fund 2
Income from following :
Governing Body Agreed to any appropriate fundraising activities
Eg Summer Fair, Non-uniform days, Raffles, etc
Spending criteria:
Governing Body agreed the following:
· Tuck shop stock including milk sales
· Catering/goods for fundraising events
· Extra funding for class visits to cover expenses eg travel, entrance fees and workshop costs
· Entertainers or educational visitors eg Productions, authors, coaches
· Funding milk cost for children in Reception class who are not entitled to Free milk because they are 5 years of age.
· Golden Box Prizes
· Funding for Mathletics Vouchers – If a child gets two Gold Certificates they will receive a £20
WH Smiths voucher.
· Funding of Tuck Shop Vouchers - Each end of term children who have attended for a full term receive a £2.50 tuck shop voucher and at Spring end of term - two full terms £5.00 voucher (Autumn & Spring Terms)
· Cash for Attendance Prizes - End of Year Cash Awards (July) - £10.00 for full year attendance, £5.00 for two full terms attendance (spring – summer) and £2.50 for a full summer term attendance
· Golden Envelope Attendance Award – Anyone who attends on the last day of term and their name is drawn out of the box at assembly - have a chance to win from £2.50 up to £15.00 depending on which envelope they choose. (To encourage attendance on the last day of term)
· Monthly donation of £15.00 towards sponsoring a child who lives in Kenya through the Plan Charity (Harrison Nyamawi 12 years old).
· Any other activity specifically for the children approved of by Resources Committee
Monies in/out of fund:
The following payments/income will be made into this account
· Fund Raising for other charities
· Tuck Shop Goods
· Tuck Shop Profits
· School Uniform/Bags
· Music/Educational Books parents need to buy
· Tea/ breakfast club
Signatories:
The following people are designated signatories for the fund and 2 people need to sign cheques
Charlotte Clerehugh (Headteacher)
Debbie Leach (Assistant Headteacher Governor Rep)
Jan Barlow (Learning Mentor)
School Fund 1
School Fund 1 is kept for special resources which may cost more than day to day activities run in school. Parents, pupils, staff and Governors are consulted on items from this account and are authorised by the Resources Committee and Full Governing Body.
Conditions for both funds were reviewed and agreed at Resources Committee Meeting on Feb 2016 further reviews will be in the autumn term, yearly.
Signed
Headteacher …………………………………………………….. Date …………………………
Gov Rep ……………………………………………………………. Date ………………...……..
Reviewed October 15