When your Board approves the Operating Budget please ensure the Board Minute includes the Budgeted Surplus figure (we don’t do deficits). This greatly assists us and the auditor to know the budget provided with the Financial Statement documentation is the Approved Budget.
Prior to filing each GST Return, please use the GST Reconciliation Report to ensure the figures are correct. Instructions are on the members’ Page of the TSO Website. At this time of the year, an incorrect date (e.g. 31 Dec 2019 instead of 31 Dec 2018) can cause an imbalance in the GST.
BoT FTE Calculations
Board members are required to record time spent on Board business. The combined figure is reported in the Financial Statements as an FTE (full time equivalent). We strongly suggest the MOE Template is used and updated each month. See our blog on BoT FTE calculations here.
Community Grant Applications
Schools are required to keep a register of all Community Grants applied; that is, both accepted and declined applications.
Please contact us if you would like a copy of a template.