With this in mind the following points should be noted:
- Where planned, Capital Expenditure should be included in the annual budget.
- All Capital Expenditure must be approved in advance by the Trustees (Download Capital Development Proposal Form)
- Hire purchase, leasing of equipment and other such contracts/agreements require prior Trustee approval.
- Download our cashflow for development borrowing template
- Summer Works Scheme 2014 applications must be approved by the Trustees prior to submission to the Department
All requests for capital expenditure are presented to the Trustee Board of Directors at their monthly meetings and the Board decisions will be relayed in writing to the School Board of Management following the monthly meeting.
Remember grant money that is received for a particular purpose can only be spent for that purpose. The guidelines from the F.S.S.U. indicate that “The annual accounts should include a schedule of capital grants unspent at the end of the school year. Any grant which is ring-fenced for a specific purpose and unspent on August 31 should be included in this schedule”.