6145.8
Policy
Instruction
Activity Funds
Management
School activity funds may
be expended only for purposes which may benefit the student body of the school.
All rules, regulations, and procedures for the conduct, operation and
maintenance of extra-curricular accounts, and for the safeguarding. Accounting
and auditing of all monies received and derived there from are to contribute to
that objective.
The accounting system for
managing student activity funds will be designed to encourage the largest possible
educational return to students without sacrificing the safety of funds.
Adopted: June 04, 1990
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