north allegheny school district student activity funds-sample forms & documents may 5, 2004
TRANSCRIPT
North AlleghenySchool District
Student Activity Funds-Sample Forms & Documents
May 5, 2004
2
Where are we?
August 20, 2002-Presentation to Building Bookkeepers
June 17, 2003-Presentation to EST/SST
September 4, 2003-HomeworkAssignment Secondary Schools Presentation
May 5-EST/SST-Review of Sample Forms & Documents
3
Today’s Focus
Review of forms to help you implement procedures identified in prior presentations and PASBO’s Student Activity Guide.
Utilization of sound business, budgetary and accounting procedures.
Final direction on NON-Student Activity Accounts.
Direction to complete remaining issues for specific schools.
4
Student Officers
Student Officer authorizations and approvals should be included for all transactions.
An annual record must be kept on file that includes: Faculty Advisor Date of Inception Purpose of Activity Student Officers
Minutes must be maintained for all meetings
5
Student Activity: Inception Date:Account NO: Board Approval:Faculty Advisor:
President:Vice President:Secretary:Treasurer:
Building Administrator Approval:
Sample Activity Record
6
Budgets/Final Evaluation
Budgets: Each activity should have a budget detailing the source and amount of revenues and expenditures.
Budget to Actual Records: A final analysis of the activity’s revenues and expenditures and reconciliation to the budget should be maintained.
7
Expenditure DetailsDESCRIPTION BUDGET ACTUA
LVARIANCE
Royalties $1,000 $1,200 $-200
Costumes 1,000 975 25
Sets 2,000 2,200 -200
Balloons/Flowers 1,000 900 100
Flyers/Brochures/Programs 1,200 1,300 -100
Concessions 50 50 0
T-Shirts, Video’s, Cast Party 600 595 5
Total Expenditures $6,850 $7,220 $-370
8
Revenue DetailsDESCRIPTION BUDGET ACTUA
LVARIANCE
Ticket Sales $4,000 $4,200 $200
Concessions 100 125 25
Flowers 500 495 -5
Balloons 500 500 0
Advertisements 1,200 1,300 100
Parents’ Page 100 95 -5
T-Shirts, Video’s, Cast Party 600 595 -5
Total Revenues $7,000 $7,310 $310
9
Budget SampleDESCRIPTION BUDGET ACTUA
LVARIANCE
Amount of $ Raised $7,000 $7,310 $310
Donations
Total Receipts $7,000 $7,310 $310
Initial Expenditures
Project Expenditures $6,850 $7,220 $-370
Lost Material
Other Expenditures
Total Expenditures $6,850 $7,220 $-370
10
Budget Sample-ContinuedDESCRIPTION BUDGET ACTUA
LVARIANCE
Total Receipts $7,000 $7,310 $310
Total Expenditures 6,850 7,220 -370
Profit (Loss) 150 90 -60
See separate handout with actual Budget Worksheets.
11
Receipts
Revenue Controls: Cash should be deposited daily in a bank. Any amounts not deposited daily should be placed in a safe. Large receipts should be deposited in an overnight depository rather than placed in a safe.
Types of Revenues: Each revenue source should be deposited separately. Deposit records should be kept for all receipts and deposits by the Activity Personnel.
Student Officers: Authorizations and approvals should be included for all receipts.
12
Student Activity: Deposit Date:______Building:School Year:
Receipt Date Donor
NameCheck Cash
Received by
Faculty Sponsor Approval_________________Student Officer Approval_________________Building Administrator Approval_____________
Sample Deposit Record
13
Building:Student Activity: Receipt #School Year:
Donor Name:Address:
Check: Cash:
Received by: Date:
Original: Student ActivityCopy 1: Attach to deposit record Copy 2: Donor
Sample Donor Receipt
14
Musicals/Plays
Ticket Documentation: Tickets should be pre-numbered or recorded by number of tickets allocated to ticket sellers and reconciled with unused tickets and cash collections. Each deposit should have a record of the amount of tickets sold and the price per ticket sold. A person independent of the ticket sellers must control ticket numbers and restrict access to the ticket stock. Independent control and reconciliation of numbers is required. Appropriate supervision or separation of duties, as described above, adds to the reliability of the process.
Parent’s Page/Candy Sales/Other Sales: Deposits for each sale should include detailed documentation.
15
Expenditures
Monies can not be expended from these funds without the express permission of the students.
Student Officer authorizations and approvals should be included for all transactions.
Loans are prohibited. Checks must be written for ALL expenditures. NO
Exceptions! Reimbursements for items should be minimal and
never paid without a check. Checks should be written directly to vendors especially for items that are large in nature.
16
Physical Inventory/Maintenance of Equipment Purchased
Physical Inventory: A physical inventory should be taken at the end of each play.
Safe storage of items are necessary.
17
Retention of Records
All records and documents should be retained until the Financial Services Department has authorized disposal.
This includes but is not limited to unused tickets, listings of receipts, invoices, quotes, and contracts.
18
Non-Student Accounts
Funds that do not involve student activities must be separated and not commingled in the funds. These funds are considered School General Fund
monies and should be handled accordingly. Separate bank accounts can be utilized. Any profits
will have to be sent to the General Fund at year end.
Monthly reporting and inclusion in the Board Reports will be required. The same reporting and reconciliations that are conducted by the bookkeepers for the current Student Activity Accounts will be required.
Please let the Financial Services Department know if you wish to set up a separate account.
19
Non Student Accounts
What do we do with our coffee, retiree, flower, gift accounts?
You may still have these accounts, but they are not Student Activity Accounts and not part of the General Fund. Staff will have to use their own systems to safeguard cash and issue disbursements.
What happens to the Lost Book and Parking Fee accounts?
The Lost Book account is a fund for Students who lose their books. Since the General Fund pays for text and library books, this account should be transferred to the General Fund.
Parking fees should also be transferred to the General Fund.
20
Funds Transferred to the General Fund
Should we send a deposit to the General Fund each time we receive money from a student for lost books or parking fees?
No, you may transfer the money to the General Fund once a quarter or two times a year as long as the amount is not large.
All balances must be received in the Business Office by June 30.
21
Student Body Account
Accounts that are considered Student Body Accounts have student involvement, however, it is impracticable to have student officers.
These accounts can have various items in the account; however, the Principal and Building Administration cannot make unilateral decisions on the spending of the money without student representation. In other words the Principal no longer can have accounts in the Student Activity Funds to use for Building needs.
22
Student Body Account
What do we do with field trips? This account can remain in Student Activities
under the Student Body Activity Accounts.
Where do we account for book sox and lock sales to the students?
These accounts can remain in the student activity accounts as a Student Body Account if the account is used strictly for the purchase and sale of these items with no profit.
23
Interest Allocation
How do we allocate our Interest? You can allocate your interest one of two ways: Allocate to each activity based on average
amount of yearly balances. Or you may use another allocation method if appropriate.
Meet with all your Student Activity Fund Officers to discuss the assignment of the money to one particular club, usually the Student Government Account.
Please send your plan to the Financial Services Department for approval.
24
Quickbooks
How do I know the balance in my accounts?
Each Building Secretary/Bookkeeper can run a report in the Quick Books Accounting System that shows the balances. In addition, a separate report can be created to display all transactions in a particular account.
How do we eliminate inactive accounts? Please accumulate all of your inactive account
balances and combine the amounts. If the amount is not large in nature transfer the balance to your Student Government Account. If the balance is substantial please call the Financial Services Department for a recommendation.
25
Building Administration
Monthly review & approval of trial balances.
Review and approval of Budgets. Review and approval of Final Reports. Instruction to faculty advisors/student
officers for all policies and procedures. Obtain and approve all Student Activity
Report Cards.
26
Faculty Advisors/Student Officers
Prepare and submit Budgets to Building Administration. Prepare and submit Final Reports to Building
Administration. Instruction to student officers for all policies and
procedures. Obtain Student Activity Record. Obtain approval from Student Officers for all receipts and
disbursements. Comply with standardization of reporting for receipts and
expenditures. Comply with all Student Activity policies and procedures.
27
Bookkeepers
Comply with monthly standardization of reporting to the Building Principals.
No payments or deposits can be made without: Deposit records Original invoices Student Officer approvals
Comply with all Student Activity policies and procedures.
Comply with monthly standardization of reporting to the Business Office.
28
The Finish Line
Use sound business practices. Implement procedures immediately.
Faculty Sponsors need to be aware of requirements.
Completion of forms is mandatory. Eliminate inactive, negative and non-
student activity accounts. Please discuss with Financial Services your plan
of action to eliminate these accounts.