FILE:  JHB

Cf:  DIA

 

ACTIVITIES FUND MANAGEMENT

 

 

It shall be the policy of the East Carroll Parish School Board that monies of all school-sponsored student organizations be deposited with the school's accounts in the principal's office daily.  The treasurer of the organization shall be issued a receipt for each deposit, and he/she shall keep a record of the organization's account including all deposits and disbursements.

 

The Superintendent shall be responsible for exercising control over all fund raising activities.  He/she or his/her designee shall establish and maintain administrative regulations governing all school related fund raising activities.  Such activities shall be continually monitored to assure proper management of all funds.  The system of accounting for school monies shall be in conformity with the system of accounting recommended by the Board and other appropriate authorities.

 

Officers of the affected school-sponsored organization, the sponsor of the organization and the principal shall jointly determine use of such funds.

 

GUIDELINES FOR HANDLING ACTIVITY FUNDS

 

All activity funds of school shall be managed in accordance with the following guidelines:

 

Receipts

 

  1. The building principal shall authorize and account for the receipt of all funds on a daily basis, establish and maintain a "Daily Receipt Log," and make daily deposits in approved depositories.
     

  2. All funds received by the building principal shall be recounted by the school secretary on a daily basis.  The school secretary shall initial the building principal's "Daily Receipt Log."
     

  3. The building principal and/or the school secretary shall establish and maintain an auditable record (General Fund Ledger) of all funds received. Posting should occur on a daily basis.  Entries should be made in black ink.
     

  4. Segregation of fund accounts should be established and maintained.  That is, separate ledgers should be established for the Athletic Fund and the General Fund.
     

  5. All ledgers should be in balance at all times.

     

Disbursements

 

  1. The building principal shall authorize, by purchase order, the disbursement of all funds.  The purchase order shall be signed by the building principal.
     

  2. Disbursements for approved goods and services shall be made in a timely manner and contingent upon appropriate source documents (invoices).  All invoices shall be signed by the receiver of goods and services and the building principal.  Prior to disbursement of funds, the building principal shall indicate the appropriate budget category on all invoices.
     

  3. All disbursements shall be made by check and in numerical order.  Voided checks shall be retained and clearly marked "VOID".  Outstanding checks which remain on the bank reconciliation and that are over six (6) months old shall be voided.
     

  4. The building principal shall establish and maintain a "Daily Disbursement Log."
     

  5. The building principal and/or school secretary shall establish and maintain an auditable record (General Fund Ledger) of all funds disbursed.  Posting should occur on a daily basis.  Entries should be made in black ink.
     

  6. Disbursement shall not exceed accrued revenue at any time.

  

Reporting

 

  1. The building principal and/or school secretary shall establish and maintain on a fiscal year basis, a file for each month's fiscal activity.  The file shall contain the following documents:

 

    1. purchase order, invoice, and cancelled check (stapled)
       

    2. bank reconciliation, monthly financial report, and deposit slips (stapled)

 

  1. The building principal and/or school secretary shall prepare a typewritten financial report, indicating all fiscal activity for the month, and submit it to the Superintendent of Schools for approval on or before the twenty-fifth (25th) of the succeeding month.  The report shall be submitted on approved forms and signed by the building principal.
     

  2. The building principal shall monitor the school secretary's accounting methods and provide technical assistance as needed.

 

Budgeting

 

  1. The building principal shall prepare a budget proposal for each fiscal year. The proposal shall be submitted to the Superintendent of Schools for approval prior to July 15 and shall be typewritten.
     

  2. Budget proposals shall include the following information:

 

    1. current year's approved budget (column 1)

    2. year-to-date fiscal activity (column 2)

    3. budget proposal (column 3)

 

  1. The budget proposal shall be balanced.
     

  2. Budget revisions, if needed, shall be submitted to the Superintendent of Schools for approval prior to implementation.

      

Auditing

 

  1. All funds shall be audited by appropriate authority.

 

Security

 

  1. Maximum security shall be established and maintained for all monies received.  Money shall not be kept at school overnight.

 

 

Ref:     La. Rev. Stat. Ann. ยงยง17:81, 51:224

Board minutes, 5-1-90

 

East Carroll Parish School Board