OP4 Financial Planning Policy


The Board of Trustees has overall responsibility for the financial management of the school but delegates the day-to-day management of the school’s finance’s and budget to the Principal.


The purpose of the financial planning policy is to set out the responsibilities and accountabilities in determining the scope for the school budget.


The Principal, is responsible for recommending an annual operating and capital budget to the Board within the timelines specified in the finance committee Terms of Reference.  Budgeting shall not fail to reflect the Annual Plan, risk financial jeopardy nor fail to show a generally acceptable level of foresight.

Thus the budget should:

  1. reflect the results sought by the Board.
  2. reflect the priorities as established by the Board.
  3. comply where the Board’s requirement is for a balanced budget.
  4. demonstrate an appropriate degree of conservatism in all estimates.

Relevant Legislation

Including but not limited to;

  • Education Act 1989
  • National Administration Guidelines

Document Management and Control

Policy / Document Owner: Orakei School Board of Trustees
Operational Policy Number: OP4
Prepared or Reviewed By: W Pihema
Authorised By: The Board of Trustees
Date Policy Approved and Resolution No.: June 12 2017 / 2.6.17
Date Last Reviewed:
Review Frequency: Triennial
Date of Next Review: June 2020


Document History
Review Date: Review Outcome: