Hunters Hill Public School

Excellence in Learning for Success in Life

Telephone02 9816 4404


‘Corporate governance’ is a term used to describe the way in which associations conduct their business, understanding all their legal, financial and ethical obligations. 

This includes:

• being aware of the legislative framework that sets out and defines the powers of the Association

• understanding the processes and accountabilities that must be followed when exercising powers of the Association

• having supporting documentation and a paper trail to support any decisions made by the Association.


What practical methods do the P&C adopt to ensure governance conditions are met?

  • Ensure financial reporting is accurate and correct processes are adopted
  • Read legal documents - do not just sign them
  • Never sign blank cheques
  • Ensure cheques have a supporting invoice, account and meeting resolution
  • Ensure you have good communication with other executive members
  • Do not engage in discussions where you may have a financial or personal interest
  • Do not promote secret meetings; be open, transparent and accountable
  • Always have two or more persons oversee the collection of cash
  • Ensure accurate recording of minutes with motions noted in full
  • Ensure P&C actions are in line with the Constitution’s objectives and functions
  • Ensure your P&C abides by your governing legislative requirements, i.e. your Constitution, Accounting Manual, Education Act/regulations, etc.
  • Ensure thorough and effective handover practices


Keeping records  

  • All association financial records should be kept for the following periods:
  • Minutes forever Cashbook 20 years
  • Financial Reports 5 years
  • Audit Reports 7 years
  • Receipt books, 5 years
  • Order books, invoices 2 years
  • Events paperwork (see taxation) 5 years
  • Pay sheets and acquittal sheets 7 years
  • Cash register strips 3 years
  • Stock counting sheets 3 years
  • Bank deposit slips 3 years
  • Bank statements 2 years
  • Petty cash and postage books 2 years
  • Cheque butts/payment vouchers/invoices 5 years
  • Volunteer and Membership Registers 20 years
  • Letters, Contracts, Agreements forever
  • Other correspondence, junk mail 1 year or less