Assets
All equipment and funds held by the school, P&C or any subcommittee
are held on behalf of the Minister.
When the P&C intends to provide equipment for the school, donate the
funds to the school and then let the school purchase the goods. This will
ensure compliance with state purchasing policy.
Any goods bought by the P&C must be registered on the school's asset
system. If the goods are required for the sole use of the P&C, flag them
on the school system as in use by the P&C. While the P&C
does not require a formal asset register, a list of equipment used by the
P&C should be kept as part of security controls.
Such goods do not show on the financial records of the P&C. The only
assets to show on P&C financial records should be 'trading stock' and
'cash held' or 'cash in the bank' along with any investments.
The P&C must ensure maintenance and security for its goods and insure
these goods against loss.
^ Top of page
Other languages