Policy #16: Finances

Sunrise School Division is publicly accountable for its financial resources. The budget is a monetary statement of the Board's goals and objectives for education in Sunrise School Division. The budget is a blueprint for action, accomplishment and fiscal control.

Resources are managed in an efficient, effective and ethical manner in accordance with our mission statement and educational beliefs, and in compliance with The Public Schoo ls Act and other applicable legislation.

16.1 Responsibilities of the Superintendent

The Board places responsibility for fiscal prudence, risk management and compliance in the office of the Superintendent and as prescribed with the P S A purchases are made in the most economical manner possible. The Sunrise School Division shall not be operated in ways which jeopardize its financial health and stability, nor shall it be operated in ways which jeopardize the effective, efficient use of its financial resources.

i. The Superintendent will ensure that the school division operates its annual financial affairs

in accordance with Section 42 of the P S A.

ii. The Superintendent will ensure that all accounting practices of the school division are within

the generally accepted accounting principles as outlined by the Province of Manitoba.

iii. The Superintendent will provide the Board with an operating statement on a monthly basis

beginning in the second quarter. If the operating statements are unavailable or delayed the

Finance Committee will notify the Board.

iv. The budget development process is presented to the Board annually.

v. The Board of Trustees annually approves a budget for the fiscal year July 1 to June 30.

The Superintendent of Schools and Secretary-Treasurer develop the budget in consultation

with staff, the Board of Trustees, and the public.

vi. The Superintendent will provide the Board with a monitoring report on an annual basis

regarding the management of school funds (see Procedure DBB) in the form of

‘Year End School Funds Report’, found as Procedure DBB-E.

16.2 Commitment to Resourcing Good Educational Services

The Board further acknowledges that good educational services cannot be obtained without a reasonable expenditure of money and, therefore, seeks to negotiate contracts that will attract and keep competent staff members.

16.3 Commitment to Goodwill and Cooperation in Contract Negotiations

The Board further endeavours to establish and maintain a relationship of good will and cooperation during negotiations in order to create an atmosphere of trust and understanding between the Board and the negotiating party.

Reference:

Introduction

Policy 1 – Vision, Values and Mission

Policy 2 – Board Governance

Policy 3 – Role of the Board

Policy 5 – Annual Planning Cycle

Policy 9 – Board and Superintendent Relationship

Date Adopted: February 2019

Date Amended: May 2021; April 4, 2023