Loans
P&Cs can apply for and receive loans for large projects, for example, construction activities that improve facilities such as swimming pools or to enclose covered areas.
When seeking loans, the P&C must comply with the detailed guidelines outlined in the Education Policy and Procedures Register (EPPR).
Ask the principal for a full copy of the EPPR module Loans Sought by Parents and Citizens' Associations or go to module FNM-PR-013: Loans Sought by Parents and Citizens Associations at the EPPR website.
Ensure you follow these steps:
- Record receipt of the loan in the cashbook.
- Enter loan repayments in the cashbook.
- Report on details of the loan balances in the annual financial statements.
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