GREAT START! WHAT EVERY SCHOOL COUNCIL TREASURER NEEDS TO KNOW Part 2 West Credit Secondary School November 16, 2017

MANAGING FUNDS RAISED BY SCHOOL COUNCIL Collection of Funds: Funds must be counted on the school premises in the presence of two or more individuals Deposits to the bank should be made on a regular basis and can be made by school council members A separate bank deposit book is maintained for school council, which is kept by the school office manager when not in use Appropriate backup documentation must accompany all deposits

MANAGING FUNDS RAISED BY SCHOOL COUNCIL Recording & Reporting Funds: The school maintains accounting records for all school generated funds, including funds raised by school council School council funds are recorded in separate school council categories in the school’s Quicken / School Cash accounting records Transaction reports are produced for school council monthly or upon request. School councils are encouraged to review these financial reports at their meetings and to reflect these reports in their school council minutes Part of the move to School Cash Online is to try to streamline the various clubs and categories at the schools as much as possible.  This has two benefits: It allows for easier transitions when office staff change as the names and categories will be more recognizable/familiar, and Eventually, it will allow for greater analysis at the Board level when there are requests for data from the various schools or to try to do a more detailed analysis   As such, the category names have purposely been left general to allow as many schools as possible to use them.  The only changes that are currently happening are if there is no category or additional categories are needed (e.g. there are two different Art clubs in a school and we only have one Art club category.  In this case, another Art category would be created). I know that Snack Shack sounds much nicer than Lunch-Pantry but we are requesting at this time that schools maintain the general naming conventions that have been created.

MANAGING FUNDS RAISED BY SCHOOL COUNCIL Disbursements of Funds: A school council member must complete a School Council Cheque Requisition Form (SCCR Form) and submit it to the school’s office manager The SCCR form must be accompanied by appropriate documentation (e.g. Invoice) The SCCR form must be signed by the school council chair or treasurer and by the school principal The original SCCR form and backup will be kept at the school to support payments

FINANCIAL REPORTING An annual report prepared by the school council must be submitted to the principal and communications department at the HJA Brown Education Centre no later than September 30 of each year Financial statements, if school council had any financial transactions, must be included with the annual report. These financial statements must agree to the Quicken/School Cash records at the school

FINANCIAL REPORTING Financial statements must include the following: Opening balance Revenues and expenditures Closing balance Use the school council transaction report from Quicken/School Cash to prepare the financial statements For the 2017/2018 school year all schools will be transitioned to School Cash by the end of the year.

SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT – SUMMARY

SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT – SUMMARY

SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT - DETAILED

SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT - DETAILED

SAMPLE - SCHOOL COUNCIL FINANCIAL STATEMENT

SCHOOL COUNCIL RESPONSIBILITIES Develops a plan of all school council fundraising activities at the beginning of the school year Ensures the plan is approved by the principal and indicates the purpose of the fundraising as well as estimated income and expenses Ensures that all funds collected are counted on school premises by a minimum of two individuals Ensures that all bank deposits are supported by appropriate back-up documentation e.g. count sheets, order forms, pledge forms

SCHOOL COUNCIL RESPONSIBILITIES Signs the School Council Cheque Requisition Form (SCCR Form) to indicate that expenditures from school council funds are approved Ensures that all approved SCCR Forms are accompanied by complete and appropriate documentation e.g. invoice, receipt Agrees the transactions in the school council transaction report to school council deposits and SCCR Forms

SCHOOL COUNCIL RESPONSIBILITIES Reviews monthly transaction report at school council meetings for approval in minutes Prepares the year-end financial statement for the Annual Report Includes school council transactions from Sept 1 – Aug 31 Information obtained from the school council transaction reports should be used to prepare the financial statement Ensures that all financial reports and back-up are stored at the school If School Council only meets four times a year, the transactions reports can be run and reviewed prior to these meetings rather than each month

SCHOOL RESPONSIBILITIES Ensures school council funds are deposited to the bank Issues cheques from the school council category when approved SCCR form is submitted Maintains financial records of school council deposits & expenses in Quicken/School Cash Prepares monthly bank reconciliations Stores financial records for seven years

SCHOOL RESPONSIBILITIES Provides school council with transaction reports from Quicken/School Cash Ensures school council fundraising & purchasing is in accordance with PDSB policies & Ministry of Education guidelines Submits financial information to the school board for reporting to the Ministry of Education Responds to external and internal auditors

DONATIONS Cash Donations: Donation receipts are issued for amounts over $25 School Council Charitable Donations Receipt Request Form is completed by School Council Submit Form to Principal for approval and signature. The school will then e-mail the approved form to CBO and copy the Treasurer and Principal In Person donations. That is, not online.

DONATIONS On-line Donations: NEW! A donation button can be found on each school’s website Tax receipts are issued automatically once the payment has been processed Funds can be directed to either the Peel District School Board or a particular school Note that donations to another charity, such as Terry Fox, cannot be accepted here. This is for donations to support the Peel District School Board only

SCHOOL CASH ONLINE Movie night tickets – no longer need to count cash and cheques around a board room table!

School Cash Online Implementation November 1, 2010 School Cash Online Implementation Phased in approach Implemented to date – 160 schools Implementation complete for all schools by 2018 We have majority of the secondary schools who have gone through the process and 160 schools in total that have gone live with School Cash. Sunrise Seminar Series 2010-2011

SCHOOL CASH ONLINE

SCHOOL CASH ONLINE

USEFUL INFORMATION/LINKS PDSB School Council Resources http://www.peelschools.org/parents/schoolcouncils School Councils, A Guide for Members 2001 (SCG section 13) http://www.edu.gov.on.ca/eng/general/elemsec/council/gu ide.html Ministry of Education, Fees and Fundraising Guidelines http://www.edu.gov.on.ca/eng/parents/fundraising.html

QUESTIONS? Resources: School Principal Central Board Office (905) 890-1010 Pamela Ritchie, Acting School Finance Manager ext.2683

THANK YOU!