DG - General Banking

D: Fiscal Management

The Board of School Trustees (the “Board”) recognizes that consideration must be given to utilizing banking services in a financially responsible and administratively efficient manner to safeguard Board monetary assets. 

Guiding Principles

  • The Board will have knowledge of and authorization rights over all bank accounts containing district funds or school funds.
  • The Board reserves the right to select and specify the financial institution(s) with which district and school accounts are held.
  • To promote efficiencies the Board’s vision is to minimize the number of financial institutions at which the district and schools hold accounts.
  • To operate in a financially responsible manner, the Board seeks to minimize financial institution service fees, minimize investment risk, and ensure cash balances earn adequate interest.  
  • The purpose of banking services is for the deposit, transfer, withdrawal and investment of Board funds.
  • Investment of district funds must comply with the VBE Policy DFA – Investment.


The Secretary-Treasurer or designate: 

  • Establishes the terms, conditions and operating arrangements for all district and school bank accounts;
  • Approves all district and school bank accounts;
  • Appoints one or more financial institutions which shall provide general banking services;
  • Maintains an inventory of all district and site bank accounts in use;
  • Has the authority to delegate the responsibility for the operation of bank accounts to district and school administrators. 

Vancouver School Board, School District No. 39 (Vancouver), Vancouver, B.C.

DMT Responsibility: S-T

Adopted Date: 
Tuesday May 22, 2012