Financial Handover Statement

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Purpose of this policy

To ensure that the incoming principal and the departing principal have a clear understanding of the school’s financial position at the time of handover.


This table explains the requirements for both the departing and incoming principals.

The departing principal leaving a school for
longer than two terms must:
The incoming principal must:

prepare a financial handover statement as near as practical to the last day of duty

Note: If the outgoing principal and the school council president have signed the year's financial statements, these statements may suffice as the handover statement.

verify the correctness of the items in the financial handover statement.

ensure that:

  • a stocktake has been undertaken of all accountable items
  • a copy of the stocktake filed in the school's administrative office.

carry out a stocktake of the major accountable items as soon as practicable to test the accuracy of the stocktake record prepared by the departing principal.

ensure that all CASES21 records:

  • are up-to-date
  • reflect the handover statement as near as practical to the outgoing principal's last day of duty.

file the financial handover statement.

Related policies

Department resource