11. Accounting System

Last updated: Tue, Sep 20th, 2016 12:29:20 pm

11.1 The Board is accountable for all activities carried on under its auspices including those activities not financed or controlled by the Department.

11.2 The Board must keep such books and accounts as are necessary to ensure good management, comply with any requirements set down by the Minister from time to time and satisfy any legal requirements of the Board. These books must be kept on the school premises and be available for inspection by Department officials and officials from the Office of the Comptroller and Auditor General.

11.3 The Board requires complete and accurate accounting and other records to help it manage the school, prepare financial returns and comply with Department requirements. What constitutes an adequate accounting system depends on the size of the school and the diversity of its activities. Accounting records must disclose with reasonable accuracy the financial position of the school and must contain:

  • entries from day to day of all sums of money received (i.e. cash receipts book) and expended by the school (i.e. cheque payments and petty cash payments books) for all activities. These records may be kept on computer.

  • original supporting documentation in respect of which the receipt and expenditure takes place

  • an assets register

  • record of amounts due to and by the school

  • wages and other records necessary to comply with Revenue Commissioners' requirements

  • original statements for all bank accounts

  • Board minutes

  • File of tenders and contracts

  • Student attendance records should be recorded and maintained in a format which can readily be shared with the TUSLA requirements.

  • record of attendance for teaching and non-teaching staff paid by the school

  • Boards should keep records for a minimum period of 7 years or as otherwise directed.