One of the Board of Management’s key responsibilities is “to provide and cause to be kept proper books of account” (Articles of Management 15 (a)). Section 18 of the Education Act 1998 states that “the board shall keep all proper and usual accounts and records of all monies received by it or expenditure of such monies incurred by it and shall ensure that in such year all such accounts are properly audited or certified in accordance with best practice.”

Format of Accounts

Timetable for Accounts

Management of Accounts

Financial Report to Parents

Format of Accounts

The recommended format of Final (end of year) Accounts for Voluntary Secondary Schools can be viewed by clicking on the links below:

Format of Accounts - Accountant's Report

Format of Accounts - Auditor's Report

Timetable for Accounts

 The deadlines below should be seen as the latest dates at each stage of the procedure.  The timescale allows a maximum of six months following the end of the school year to complete the annual accounts for submission to the FSSU.

Stages of School Annual Accounts Preparation

Date Deadline

The school supplies all necessary financial information to the accountant for the school year ending on the previous August 31st

September 30th

The draft annual accounts are returned by the accountant.

November 30th

Once the school Board of Management is satisfied that the accounts are an accurate reflection of the school’s financial situation, they are formally ratified by the Board, signed by the Chairperson and one other Board member and then two copies forwarded to the Trustees/Patron for approval.

December 31st

or earlier

as required by the Trustee/Patron

The accounts should be signed by the Trustee/Patron and one copy returned to the school

January 31st

A hard copy of the school’s Annual Accounts duly signed by the Board of Management and the Trustees is forwarded to the FSSU.

February 28th

School accountants are required to access a secure online cloud based system and to input the school trial balance.

February 28th

Management of accounts

While the Principal has the day to day responsibility for management of school accounts, it is recommended that the day to day recording of school accounts be delegated to a dedicated accounts officer who may be an Accounts Secretary / Treasurer / Bursar.

The school’s day to day accounts are ideally kept in electronic format and to this end the use of Sage 50 accounts package with the agreed Chart of Accounts is recommended. Not all schools are required to use the Sage 50 package but whatever package is used must produce the agreed standardised format of final accounts except where discussed with individual schools or groups of schools.

Financial report to parents

Under section 18 of the Education Act 1998, the school is required to provide a financial report to parents of students in the school. To comply with this requirement we have created a recommended template.

excel Financial Report to Parents Template

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