Chapter 2: Financial governance

The information in this chapter is mainly for boards of trustees and principals of schools.

In this section

Chapter 2.1: Strategic Planning: Strategic Planning
Chapter 2.2: Budgeting: In this section we learn about what a budget is, the steps involved in budgeting, and how to review your budget during the year
Chapter 2.3: Monitoring: This section provides information on how to monitor your school's finances including indicators of financial health, of financial risk, and the Ministry's role when a school is at financial risk
Chapter 2.4: Financial Decision Making: This section of the FISH handbook covers probity, conflicts of interest and procurement guidance for boards
Chapter 2.5: Associated Parties: This section of the handbook discusses associated parties, including parent/teacher associations, trusts and integrated schools
Chapter 2.6: Annual Financial Reports: In this section we cover the preparation of the Annual Financial Report including income statements, balance sheet and cash flow statements
Chapter 2.7: Non-Financial Reports: In this section we cover non-financial reports such as statement of responsibility, board of trustee member details, auditor's report, analysis of variance, management report, statement of resources and performance graphs
Chapter 2.8: Audit process: In this section we cover the audit process