Financial Management Framework
The purpose of the Financial Management Framework for Christian Schools is to provide a framework of good practice for boards, principals and business managers to apply. Many board members, principals and school leaders may find themselves in roles where financial management is either unfamiliar to them or where they may not have the depth of financial management experience to know where to start when exercising their legal obligations.
The Framework draws together several elements to provide a holistic approach to planning, assessing, reporting and managing the financial activities of a Christian school. These elements are:
- Long term financial planning and budgeting
- Assessment of financial performance and condition using performance indicators
- Accounting policies
- Financial reporting practices
- Management controls to ensure integrity in financial management practice
- Tools, resources, training and other ideas to increase financial capability
This Framework provides resources that boards, principals and business managers may use to better understand financial management and to provide a head start in the further implementation in their own school.
The resources are listed on the left.