Yes, the Parents Association can have its own bank account and should be used to collect the proceeds from fundraising activities before transferring to the school bank account. They can hold funds sufficient to cover basic costs such as bank fees, etc.
The Parents Association bank account should have 2 approvers and the FSSU advises that one approver should be from the board of management. If using online banking, business banking online should be used to allow for dual approval of payments.
The bank account statements should be addressed to the ‘Parents Association of Sample School’ at the address of the school. It should not be addressed to members of the Parents Association names or to their personal addresses.
Yes, the Board should approve all fundraising activities in advance and agree the purpose for which they are raised and a timeline for collection and transfer of funds.
In exceptional circumstances the BOM has the autonomy to use the funds collected for other purposes and will communicate this to the Parents Association.
Yes, the income and expenditure account and all bank statements should be made available and included in the annual accounts.
If you have a query that is not addressed in these FAQs, please email us at primary@fssu.ie.