POSITION TITLE: Director of Finance
REPORTS TO: Head Principal
SUPERVISES: Accounting Support Staff No. STAFF: 2
Continuity: ● Regular
Fiscal Year: ● 12 Month
Work Arrangement: ● Full Time
Hours per Week: 37.5 FTE: 1.00
Compensation: ● Salary
Benefits Eligibility: ● Yes
The Director of Finance advises the Head Principal on and is delegated authority for all financial functions of the Nanaimo Christian School (1988) Society.
Education & Experience
- Masters degree: emphasis in finance and/or business administration (or equivalent education and related experience)
- Accounting designation is preferred
- Extensive experience in budgeting, policy development/analysis and financial reporting/analysis ● Business experience in an educational environment
- Committed follower of Jesus Christ
- Committed to the Mission, Vision and Values of Nanaimo Christian School
- Committed to the Nanaimo Christian School Standards of Community Conduct
- Reporting: Head Principal
- Internal: Senior Administrators, Faculty & Support Staff, Finance Committee & Board
- External: School Families, Suppliers and Vendors
The Director of Finance will liaise with the following to ensure compliance with their reporting requirements:
- NCS Society Auditors
- BC Ministry of Education – grants
- Registrar of Companies – annual report
- CRA – payroll and GST
- Worker’s Compensation Board of BC
- BC Medical Services Plan
- CSI Canada Pension Plan
- Extended Group Health Plan
- Expense: Approve individual expenses up to $25,000 authorized within annual budget
- Systems: SAGE, Online Banking
Below are the primary responsibilities of the Director of Finance. The tasks under each area are not exhaustive, but do represent the majority of tasks with each responsibility.
Leadership and School Management
- Direct and monitor school-wide issues as directed by the Head Principal.
- Research, prepare, review and sign, on behalf of the Head Principal and the Board, a wide range of reports and documents as required from time to time.
- Collaborate with the Head Principal and Board to plan, research and report on future expansion and change opportunities.
- Attend all Finance Committee meetings
- Attend Board meetings and Senior Leadership Team meetings as required.
- Coordinate the student count process (i.e. 1701 Snapshots) and auditor reviews to satisfy Government and Ministry of Education requirements for funding (i.e. Eligible Student Audit, SOPSOC).
- Provide business, financial and other school data as required by the Ministry of Education, FISA, SCSBC and other appropriate associations to maintain and enhance the legal status and ministry of the school.
- Drafts the Budget in conjunction with the Head Principal and Divisional Principals and maintains all budget working spreadsheets and support documents for all budget numbers.
- Monitors actual expenses and disbursements on a monthly basis, investigates variances and makes monthly variance reports for the Head Principal.
- Present and report on the annual budget at the Society’s Annual & Semi-Annual General Meetings.
- Provides information to enable the Purchase Order recording systems to be reconciled to the financial accounts, thereby ensuring confidence in the budgeting system.
- Ensures that financial records are maintained which are adequate and properly documented, and comply with the accounting principles recommended by the Auditors and approved by the Finance Committee.
- Prepares timely monthly statements and distributes as determined by the Head Principal.
- Prepares ad hoc financial reports and projections as required by the Head Principal.
- Ensures that internal controls, financial recording and recommended procedures are adhered to and any changes are properly authorized and documented in consultation with the Head Principal.
- Deliver regular financial and accountability reports to the Head Principal, Senior Administrators and the Board comparing actual expenditures to budget; identify and address significant variances of concern.
- Ensure the daily processing of invoices, bank transactions, computer balances, bank reconciliations and general business and accounting office functions take place; act as a signatory for school cheques.
- Maintain current, accurate, and transparent accounting system and records, bank statements, tuition, payment records, financial statements and all other critical accounting information in accordance with Canadian accounting standards for not-for-profit organizations.
- Direct and monitor the Tuition Assistance program.
- Direct and monitor investment decisions as necessary to maximize interest opportunities. ● Responsible for long-term debt management; manage all school loans and leases.
- Represent the Head Principal and the Board in negotiations for school facility rentals, insurance, real property, equipment, insurance claim settlements and services as requested by the Head Principal.
- Direct and monitor the risk management program; negotiate insurance for casualty, liability and other coverage ensuring adequate liability insurance is maintained to protect staff, volunteers, board members and the future financial viability of the school. Manage liability claims as necessary.
- Develop and maintain financial policies and procedures; practice efficient and effective internal controls.
- Collaborate with the school’s designated accounting firm to complete the year-end Annual Review Engagement & Financial Statements, as well as annual T3010 – Charity Information Tax Return.
- Ensures that recording of tuition and other receivable accounting procedures are maintained.
- Reviews all problem accounts with the Accounts Receivable Clerk. Ensures that the collection policies of NCS are followed.
- Oversees preparation of charitable donation receipts for Society Members and donors in accordance with guidelines provided by CRA and SCSBC.
- Reconciles individual and total donor accounts/receipts.
- Ensures that all purchases are in accordance with the approved annual budget and other policies/procedures approved by the Head Principal.
- Ensures all purchasing is in compliance with generally accepted business practice. i.e.(signed purchase orders and receiving slips by department heads, prices verified, amounts checked) and proper assignment of GL codes).
- Oversees the processing of all invoices for payment, maintaining proper records to facilitate preparation of accounting records and year-end financial statement audit
Human Resources Management
- Oversees the preparation of the payroll for all staff on a timely basis, in accordance with the annual budget and CRA requirements.
- Prepares required remittances to CRA, Group Pension, Group Benefit, and BC Medical plans in a timely manner.
- Oversees the preparation of T-4s for all employees. Reconciles all payroll accounts. ● Prepares new staff payroll information packages and collates new information for returning employees. ● Advises all returning staff of salary changes in writing.
- Remains familiar with the group benefits plan and advises all staff of changes to such benefits. ● Prepares employment contracts for new hires.
Cash Flow Management
- Invests surplus funds as directed by the Head Principal.
- Ensures that all monies received for tuition, fundraising, building rental, etc., are collected and deposited in a timely manner.
- Prepares an annual cash flow forecasting system and reports cash flow to the Head Principal monthly.
Operations & Transportation Management
- In conjunction with the Head Principal, develop and maintain school facilities in keeping with the strategic plan of the school.
- Manage physical projects; liaise with builders, architects and other consultants as necessary.
- Ensure all purchases and repairs are researched and competitive pricing is secured.
- Establish and maintain an appropriate asset/inventory register.
- Direct and monitor the preparation of emergency and disaster preparedness plans that protect school data and systems holding employee, accounting, and corporate records.
- Maintains insurance coverage as approved by the Head Principal.
- Ensures that adequate student insurance is in place and oversees 24 hours accident insurance enrollments, payments and submits claims.
- Oversees the activities of the Accounts Receivable Clerk and Financial Assistant and ensures that priorities for the Business Office are dealt with optimally as per the yearly schedule for all major activities.
- Audits campus’ internal bank accounts.
● Regularly review accounting software and procedures in the Administration Office. Proposed changes will be approved by the Head Principal.