Can a Parents Association have its own bank account?

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.

Does the Parents Association need permission from the Board to fundraise?

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.

Further information on fundraising

Can the Board use the funds for other projects?

In exceptional circumstances the BOM has the autonomy to use the funds collected for other purposes and will communicate this to the Parents Association.

Further information on fundraising

Is the Parents Association bank account included in the annual accounts?

Yes, the income and expenditure account and all bank statements should be made available and included in the annual accounts.


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