Part 4, Divisions 7 & 8 of the Education and Training Reform Regulations prescribe matters relating to financial arrangements.
A parent club must ensure that the raising of funds and the expenditure of funds raised complies with Part 4, Divisions 7 and 8 of the Regulations.
Also from the Regulations:
- Regulation 54 states that the approval of School Council must first be obtained before members of the school community undertake fundraising activities.
- Regulation 54 (2) states that funds raised for the benefit of the school must be kept in a separate account from the Club’s administrative funds.
- Regulation 58 (2) prevents a School Council rejecting a fund raising activity until it has considered a recommendation by a committee consisting of the President of the School Council or the President’s nominee, who must be the chairperson, one other representative of the school council elected for the purpose by the School Council, 2 representatives of the group proposing the money raising activity and the principal.
- Regulation 59 requires that all funds raised for a school by fundraising activities must be held by the School Council in trust for the general or particular school purpose for which the funds were raised.