P&C Subcommittee Monthly Report

The Gap State High School P&C conducts commercial activities, and must produce trading statements for each commercial activity at least once per term. The trading statement is an expanded version of the sales portion of the profit and loss statement, and shows sales, cost of sales and gross profit.

Ideally, trading statements should be generated monthly to quickly identify and address any unusual trends before the financial position becomes difficult. The following may be indicators of fraud, and must be investigated: financial reports not being consistently presented at P&C Association meetings; and commercial activities (such as the Tuckshop, Uniform Shop or Outside School Hours Care) operating at a loss, or with decreasing profits.

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