Please enable JavaScript.

Coggle requires JavaScript to display documents.

LEGAL FRAMEWORK OF MANAGING SCHOOL FINANCES (The South African Schools Act…

- - - - If a person lends money or grants an overdraft to the public school without the approval of the MEC, the state and school will not be bound by the contract of lending money or overdraft statement
  - - - SGB must keep records of all financial transactions, assets and liabilities of the public school
      - SGB must draw up a financial statement no later than three months after the end of each financial year
    - - SGB must submit to the HoD, within six months after the end of the financial year, a copy of the records/ financial statements of the school
    - - The financial year of a public school begins on the first day of January and ends on the last day of December
  - - - To administer and control schools property, buildings/grounds/hostels etc.
      - Encourage parents, learners, staff members to render voluntary services at the school
      - Recommend to the HoD the appointment of educators and non-educator staff at the school
      - Allow reasonable use of school facilities for educational programmes not conducted by the school
    - - To maintain and improve the school's property and buildings
      - Purchase textbooks, LTSM, equipment for the school
      - Pay for services to the school
- - - - An official is responsible for the management and safeguarding of the assets and management of the liabilities within
      - Must ensure that the financial management system and internal controls established for a department is carried out within the area of responsibility of that official
      - Responsible for the effective, efficient, economical and transparent use of finances
      - Must take appropriate measures to prevent, within that officials area of responsibility, of any unauthorised, irregular and wasteful expenditure.
      - Must comply with all the provisions of this Act, including any delegations and instructions according to Section 44
- - - - These schools will be fully subsidised by the State