P&Cs manage money on behalf of their school communities. With that comes responsibility and risk. 

Most P&C volunteers step into their roles wanting to help their school, not to become financial or risk experts. Clear systems, good processes and shared understanding are what protect both the association and the people involved. 

This section explains what sits under P&C money and risk, why it matters, and where to find practical guidance. 

Why this matters 

P&Cs are incorporated associations and, in most cases, registered charities. This means they: 

• manage funds raised from their community 
• make decisions that carry legal and financial consequences 
• are accountable to members, regulators and, in some cases, funders 

When money and risk are managed well: 

• decisions are clearer and easier to defend 
• volunteers are protected 
• the association can focus on supporting the school 

When they are not, even well-intentioned decisions can create stress, conflict or real consequences for the P&C and its committee. 

Money and risk go hand in hand 

Every financial decision carries some level of risk. 

This includes: 

• spending P&C funds 
• fundraising activities 
• employing staff 
• running services 
• holding events 
• meeting reporting and compliance obligations 

Good governance is not about avoiding risk altogether. It’s about understanding risk, managing it sensibly, and knowing when something is outside the capacity of a volunteer-run association. 

What P&Cs are responsible for 

While the detail varies between associations, P&Cs are generally responsible for: 

• ensuring money is spent in line with the constitution’s objects and agreed decisions 
• keeping accurate and timely financial records 
• meeting reporting obligations to the ACNC and/or Access Canberra 
• arranging appropriate insurance 
• identifying and managing financial and operational risks 

These responsibilities sit with the association and its committee, even when work is delegated. 

Using good systems to reduce risk 

Strong systems make life easier for everyone. 

Good practice includes: 

• clear approval processes for spending 
• financial controls 
• regular financial reporting to the committee 
• timely record keeping 
• separating roles and responsibilities where possible 
• documenting decisions clearly 

These systems protect volunteers and reduce the risk of mistakes, misunderstandings or disputes. 

Know when to pause and reassess 

Some activities carry higher levels of financial and personal risk than others. 

In particular, services such as: 

• running a school canteen 
• operating out of school hours care 

require careful consideration and ongoing oversight. Deciding not to take on, or to step away from, a high-risk activity can be a responsible governance decision. 

Where to find practical guidance 

This section includes resources to help you navigate key areas of money and risk, including: 

• Spending P&C funds 
  How spending decisions are made and approved, and common pitfalls to avoid. 
   
• Fundraising and income 
  What to consider when raising money and when licences or approvals may be required. 
   
• Record keeping and reporting 
  What records must be kept, who P&Cs report to, and why timeliness matters. 
   
• Financial review and audit 
  Understanding review and audit requirements, reporting pathways and good practice. 
   
• Insurance and risk 
  Why insurance matters and how it fits into broader risk management. 

Each resource focuses on one area, so you can find what you need without wading through everything at once. 

Managing money and risk well isn’t about being perfect. It’s about being thoughtful, transparent and realistic about what a volunteer-run association can take on. 

Related resources 

• Spending P&C funds 
• Fundraising and income 
• Record keeping and reporting 
• Financial review and audit 
• Insurance and risk 
• Managing canteen services 
• OSHC and other services 

Need a hand? We’re here to help.