Publishing Audited Financial Statements

Publishing Audited Financial Statements

Schools are required to make the school’s Annual Report available to the public on an internet site maintained by or on behalf of the board (see the update to the Education Act 1989 (external link) ). Making annual reports available on an internet site ensures that parents and the wider community can access information about what your school has achieved and how your board has managed school finances in the previous school year.

Annual Reports after 2016 not published will be considered a breach of legislation.

Schools that do not have a website may provide the Ministry a copy of their annual accounts so it can be published on the website “Education Counts”. Please contact your MOE Financial Advisor or us, at TSO for guidance.

Filing 2017 Audited Financial Statement to the Ministry of Education

School’s Audited Financial Statements are required to be uploaded to the Ministry via the School Portal.

This must be in one PDF file.

This is also the time to publish the 2017 Audited Financial Statements on the School’s Website as required under Section 87AB: of the Education (Update) Amendment Act 2017.

 

Uploading MOE Kiwi Park Data

A new requirement for 2017 is to upload “Kiwi Park Data” which contains the audited figures in a format used by the Ministry to consolidate all schools’ data.

For Schools where TSO prepare the Financial Statements, we will provide this document for uploading on completion of the audit.

For those inputting into the MOE Kiwi Park Model it is the last tab on the template. Please refer to the instructions in the Kiwi Park Template.

 

If you wish The School Office to Upload the Financial Statements and the Data document, please provide us (support@theschooloffice.co.nz) with the login details for the School Portal.

Please contact us should you have any queries.

Bank Batch Payments

We are aware some clients are having issues exporting Payments Batch File to their Bank. We think is due to Bank upgrades to increase security.

Read our solutions:

  • The issue seems to be overcome when the Contact (Suppliers) Account Name is entered in the bank account name field.

Contacts – Edit – scroll to Financial Details

 

The Contact name can be copied from the Contacts name field – however please ensure that there are no characters such as “&” “/” “:” “?” or similar in the Bank Name field.

There is a of 50 characters for this field so shorten the contact name if required (perhaps take off the last few words).

  • Other problems also arise if the bank reference, code, or particular fields have too many characters. The Code and Reference fields are limited to 12 characters each.

Changes in Financial Information for Schools Handbook (FISH)

Changes in Financial Information for Schools Handbook (FISH) section 2.4.1

(Margaret Patullo, Education Adviser [Schools Finance])

I would like to draw your attention to changes in Financial Information for Schools Handbook (FISH) section 2.4.1 – Probity / Sensitive Expenditure Page 11- 13 after reviewing the Office of the Auditor-General’s 2016 Audit of Schools.

MOE website: www.education.govt.nz/school/running-a-school/school-finances/

Overseas Trips – Page 11

A Board must complete the Funding Overseas Travel Using Crown Funding Checklist. Appendix C – must be reported in audited annual accounts for any travel approved in 2018.

Giving gifts – Staff – Page 12

Gifts given in recognition of employment or services rendered by employees (including payments made when employees retire) must receive approval from the Secretary for Education.

Gifts – Page 12
All gifts given and received by school employees and Boards are recorded e.g. gift register, minutes.

Gifts (to school’s employees) – Page 12

It may be appropriate for a teacher to accept a small gift (e.g. chocolates) from the parents of a student who has shown great improvements under that teacher’s guidance. A cash gift to a teacher by the parents of a student is inappropriate.

Also note the following:

Loans 2.4.7 – Page 17

In no case shall a board approve a loan to any party.