Policy
Policy 4430 - Charitable Donations
1. | PHILOSOPHY1.1. | The Surrey Board of Education believes the receiving of donations and related issuance of official charitable donation receipts can contribute to the advancement of education in the school district. | 1.2. | The board recognizes that official charitable donation receipts can only be issued in compliance with the requirements of the Income Tax Act. |
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2. | AUTHORITY2.1. | The secretary-treasurer is authorized and responsible to:
a) | Ensure that donations for which official charitable receipts are to be issued are only accepted where their purpose satisfies the requirements of the Income Tax Act. | b) | Authorize the issuance of official charitable receipts. | c) | Hold and disburse charitable funds received subject to trust conditions which may be attached thereto. | d) | File charitable returns as required with Revenue Canada. |
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3. | REPORTING3.1. | The secretary-treasurer shall provide an annual report of charitable donation financial activity to the board in conjunction with the presentation of the audited financial statements.
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| Revised: | 2001-02-22 1995-02-09 | Approved: | 1984-11-05 |
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