Funds management is an enhanced budgeting tool that we’ve recently implemented at the TDSB to improve controls on operational spending. Funds management helps schools and central departments avoid overspending on their budgets by sending warning messages when the percentage of funds used reaches a certain level.
For example, if a school or central budget reaches 75% spent, the person performing the transaction, and his/her principal or manager, receives an email alert. Alerts will continue to be sent as higher percentages are reached. Budgets will not be permitted to exceed 100% spent.
The implementation of funds management will help schools and central departments stay within their financial limits and make responsible spending decisions.