Warrington School/Board Of Trustees/Financial Planning Policy

Warrington School Financial Condition 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 and budget to the principal. This budget will include a professional development budget allocation for the principal and the staff. 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 not neglect to:

• 1. reflect the results sought by the board
• 2. reflect the priorities as established by the board
• 3. comply with the board’s requirement of a balanced budget
• 4. ensure adequate working capital
• 5. demonstrate an appropriate degree of conservatism in all estimates

Review schedule: Annually