3430
Policy
Business
Periodic Financial
Reports
The School Treasurer shall
maintain the books and records of the district in accordance with procedures as
specified by the State or by the board.
The superintendent and or his or her designee shall prepare or cause to
be prepared all fiscal reports, keep necessary records to control the financial
transactions of the district, and prepare financial statements. The secretary of the board shall file all
fiscal reports as required by county, state or federal agencies. (see 9320)
Activities Funds
The Superintendent shall
prescribe the accounting systems and procedures to be used for uniform
maintenance of receipts and disbursements for all activities funds. The Superintendent shall provide for a system
of internal and annual audits of all activities funds and shall provide a
report of receipts and expenditures for annual review by the board.
Legal Reference: R.R.S.
79-577 Class I, II, III,
IV, or VI school district; secretary; books, records, and reports; duty to
preserve.
79-588 Class II,III,IV,
or VI school districts; treasurers; records and reports required; delivery upon
expiration of office.
Adopted: October 4, 1983
Revised: February 6, 2006
6145.8
5135
3430
Regulation
Business
Activities Funds
Purpose and
Responsibility
The building activity
funds shall function as holding accounts of funds belonging to student and
building organizations and groups. The building principal shall designate one
or more individuals who shall serve as the account sponsor and shall authorize
all disbursements. Whenever the disbursement is made from a student
organization the disbursement shall be approved by the group at a meeting of
the group.
Student activity funds
shall not be used for any purpose that represents loan or credit to district
employees or other individuals.
Post-dated checks may not be accepted.
Accounting for Funds
All funds shall be
properly accounted for in both their disbursement and their receipt. A record shall be kept by the building
Principal or his/her designee of all receipts, disbursements and account
balances. A summary of the account shall
be periodically prepared and presented for review to the Board of Education. Account sponsors shall also cause to be kept
a record of their group's or organization's account.
Purchasing and
Disbursement of Funds
District employees may
not make purchases through a student body in order to take personal advantage
of student body purchasing privilege, or to avoid the paying of sales and use
taxes. District employees shall not
accept free gifts or special privileges or discounts from vendors for
purchasing from vendors on behalf of student groups.
Each organization shall
annually prepare a budget and plan of activities as designated by the building
principal. Disbursements made from the
activity fund shall be consistent with the plan and budget. All purchases made
through an activity fund shall be approved in advance on a purchase order system
prescribed by the building principal.
Any expenditure which will cause the account balance for an organization
to be a negative balance must have a plan to eliminate the deficit prior to
making the expenditure.
All disbursements shall
have a statement or record attached for bookkeeping purposes. That statement shall indicate the amount of
disbursement, date of disbursement, who the
disbursement is to, from what account the disbursement is drawn from, and
supporting documentation for disbursement such as an invoice, billing,
contract, etc.
Receipts
All receipts shall be
properly accounted for and safeguards shall be in place to protect funds. The following procedures shall be used in
that accounting system. All gate
receipts shall be counted in the presence of two individuals. These two individuals will
may be the ticket seller or another person and the
administrator/supervisor for the activity.
Both individuals shall sign the receipt record which shall be submitted
along with the deposit slip to the building Principal or his/her designee.
In receipting funds from
students as a result of dues collections, special fees or proceeds from fund
raising, the sponsor shall maintain a list of collections including the amount
and the individual from which funds were collected. Individuals shall always be provided a
receipt for any funds collected. Upon
completion of the collections, a listing shall be distributed to all those from
which funds were collected and for the Principal which will contain the names
and amounts collected.
All deposits shall be
deposited within 48 hours. Any deposit
of $250 or more shall be deposited during the same day by way of night deposit
if necessary.
A record of all receipts
shall be maintained by the building Principal and/or his designee. Records of receipt shall detail the amount of
the receipt, source of receipt, account to which the receipt is to be credited,
and the individual responsible for depositing the receipt.
Approved: November 7, 1991
Revised: December 18,
2006