Niagara Catholic District School Board
SCHOOL GENERATED FUNDS
Adopted: April 25, 2006
Policy No. 301.6
STATEMENT OF POLICY
The Niagara Catholic District School Board recognizes that funds may be generated at the school level from a number of different and varied sources. School Generated Funds are to be used for the enhancement of educational programs and to support approved school - based initiatives.
The Policy on School Generated Funds will be consistent with existing Legislation from the Province of Ontario, (i.e., MOE Regulation 612 as it pertains to School Councils), other pertinent Board Policies (i.e., Fundraising Policy) and accounting principles as described in the Public Sector Accounting Board (PSAB) standards.
The Board, through its administration will provide appropriate guidance, authority and protection to school staff and fundraising volunteers by providing guidelines and procedures for the administration and reporting of School Generated Funds.
The provisions of this policy are expected to meet the public’s rightful and reasonable expectations regarding the consistent and transparent stewardship of School Generated Funds.
The Director of Education will issue administrative guidelines in support of this policy.