Parent Councils have a responsibility to keep track of their accounts and present their accounts at the annual meeting. The treasurer will normally provide a summary of income and expenditure at each Parent Council meeting.
It is useful to address an approach to money matters in the constitution, eg indicating whether or not the Parent Council can apply for and receive grants and how the Parent Council will approach fundraising activities. Parent Councils are not obliged to, but are free to, take part in fundraising activities for the school.
Do the accounts of Parent Councils need to be audited by an accountant?
The accounts of a Parent Council should be audited and presented to the Annual Meeting. The auditor does not need to be an accountant - simply someone who is used to working with figures, who is known and trusted by the Parent Council, and who is independent of the Parent Council.
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