All clubs are now required to hold their funds in the school’s financial management system, CASES21. Clubs will need to adopt procedures for handling money received and for raising orders for goods or services, to ensure that finances are accurately reported. Expenses that have been incurred with the approval of a general meeting may be reimbursed on production of a receipt, in accordance with the school’s procedures.
The Club’s finances will be audited along with those of the school.
The following internal control procedures are strongly recommended.
Money that has been received, for example from a fundraising activity, should be counted and reconciled against the club’s records, by two members of the club. It should then be handed in to the school’s general office as soon as possible. Good receipting procedures would consist of the following steps:
- The responsible person in the general office should count the money immediately in the presence of the club’s representative
- The representative should be issued with a receipt
- The receipt should be filed by the club for reconciliation against the CASES21 program transaction report which will be issued regularly by the Business Manager.
Official school purchase orders should be raised before the club orders any goods or services, so that the commitment of those funds is immediately recorded on CASES21. This will ensure that reports accurately reflect the amount of available funds and prevent the over commitment of funds.