Among the many responsibilities associated with the role of the principal is the
financial management of the school. This chapter will assist you in understanding
your role in the financial procedures and point you in the right direction as you
contemplate decisions regarding school budgets, spending and controls.
The Education Act spells out the financial responsibilities of the principal under
Section 265 and Regulation 298. In addition, the local board will have certain policies
and procedures in place to enforce and clarify the intent of the provincial legislation.
These can be sorted into two groups: local financial responsibility and board-wide
impact. These groups and the related issues are detailed below.
Most boards will have comprehensive documentation on all these issues in the form
of reference material, policy and procedure manuals and legislation, on a hard copy
and/or on a board website. It is especially important for newly appointed principals
and vice-principals to become familiar with these documents.
This chapter attempts to recognize the large disparity of boards and schools
throughout the province as far as what is practical, while at the same time
highlighting key elements of control. It is not intended to conflict with your own
board’s policies and procedures, which are paramount. When in doubt, contact your
board office.
(Source: Deschamps, C. (2002). The Bottom Line: The financial responsibilities of
school leaders, The Register, Vol. 4 No. 1. (March 2002)
Do not be afraid to ask for training or advice in your board’s financial practices.