North Allegheny School District-Elementary Student Activity Funds-Sample Forms & Documents June 17, 2004

2 Where are we? September 15 Implementation Complete June 17-September 15 Implement All Procedures June 17-Elementary Review of Sample Forms & Documents May 5-EST/SST-Review of Sample Forms & Documents

3 Today’s Focus General Principles Utilization of sound business, budgetary and accounting procedures. Review of forms to help you implement procedures identified in PASBO’s Student Activity Guide. Documents & Records

4 GENERAL PRINCIPLES- Written Policy & Procedures Specific written procedures developed by Building Administration Management General operating procedures Accounting Procedures-will be prescribed by Financial Services

5 GENERAL PRINCIPLES Non-General Fund Use Finance a program of activities not part of the regular curriculum. Cannot have accounts to be used to circumvent management or purchasing decisions that were made for the school district.

6 GENERAL PRINCIPLES Student Use Used for student activity purposes. For students currently in school Especially since those students have contributed to the accumulation of the funds. The size of the account should be limited to a reasonable amount and large accumulations of money over more than a year should be avoided.

7 GENERAL PRINCIPLES Shared Decision-Making Collected and disbursed under the general direction of the Building Principal. Decisions must involve student groups and faculty members responsible for generating revenue for approved projects.

8 GENERAL PRINCIPLES Sound Business Practice Common Sense NO Principal, Faculty Advisor or other employee should maintain a checking account or other cash fund for students. All accounts should be under control of the District.

9 Student Body Activities Account Avoid the appearance of unilateral decision-making. The money should be spent for the general welfare of the student body and for purposes not currently fundable through the district’s General Fund. All students do not have to benefit directly; however, the majority should have the opportunity to benefit. Deciding what constitutes the general welfare is not easy, nor is the application of the general principle of not spending Activity Funds for General Fund purposes easy to administer, particularly with recent budget cutting by boards in General Fund accounts. Guidelines for acceptable “general welfare” purchases should be written out and evidence provided that decision-makers have considered the guidelines when deciding on disbursements.

10 Student Body Activities Account-Continued The procedures for collecting revenue and disbursing funds from this account need to be put in writing and published in appropriate school publications. This is an extremely important operating procedure and everyone should understand the purpose, appropriate use and correct accounting procedure for these funds.

11 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.

12 Expenditure Details DESCRIPTIONBUDGETACTUALVARIANCE Royalties$1,000$1,200$-200 Costumes1, Sets2,0002, Balloons/Flowers1, Flyers/Brochures/Programs1,2001, Concessions50 0 T-Shirts, Video’s, Cast Party Total Expenditures$6,850$7,220$-370

13 Revenue Details DESCRIPTIONBUDGETACTUALVARIANCE Ticket Sales$4,000$4,200$200 Concessions Flowers Balloons500 0 Advertisements1,2001, Parents’ Page T-Shirts, Video’s, Cast Party Total Revenues$7,000$7,310$310

14 Budget Sample DESCRIPTIONBUDGETACTUALVARIANCE 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

15 Budget Sample-Continued DESCRIPTIONBUDGETACTUALVARIANCE Total Receipts$7,000$7,310$310 Total Expenditures6,8507, Profit (Loss) See separate handout with actual Budget Worksheets.

16 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. Roll coins, copy checks, double count. Completion of Deposit Records. 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/Faculty Sponsor: Authorizations and approvals should be included for all receipts.

17 Student Activity: Deposit Date:______ Building: School Year: Receipt Date Donor NameCheckCash Received by Faculty Sponsor Approval_________________ Student Officer Approval_________________ Building Administrator Approval_____________ Sample Deposit Record

18 Building: Student Activity: Receipt # School Year: Donor Name: Address: Check:Cash: Received by:Date: Original: Student Activity Copy 1: Attach to deposit record Copy 2: Donor Sample Donor Receipt

19 Expenditures Monies can not be expended from these funds without the express permission of the students. Student Officer/Faculty Advisors/Sponsors authorizations and approvals should be included for all transactions. Loans are prohibited. Checks must be written for ALL expenditures. NO Exceptions! NO invoice, NO payment 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.

20 Physical Inventory/Maintenance of Equipment Purchased Physical Inventory: A physical inventory should be taken at the end of each play/activity. Safe storage of items are necessary. Inventory reports should be updated for purchases/disposals.

21 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.

’s/W-2’s Payment for services must be made through the General Fund. Submit all payments for services at one time if possible to your Bookkeeper. Your Bookkeeper will submit a check to NASD General Fund. NASD will either issue: Check from AP for non-employees-1099 Check from payroll for employees-W-2

23 Non-School Accounts Funds that are not school accounts activities must be eliminated. Outside groups should operate independently of the School District and the Student Activity Funds. Faculty Accounts Booster Club Accounts PTA PTO

24 Reporting Monthly Reporting-Elementary Schools Comply with monthly standardization of reporting to the Building Principals. Comply with monthly standardization of reporting to the Business Office. Reconciliations Inclusion in Board Report. Comply with standardization of reporting for receipts and expenditures. Comply with all Student Activity policies and procedures.

25 Deposit & Expenditure Records No payments or deposits can be made without: Deposit records Original invoices Faculty/Student Group approvals NO reimbursements will be made NO LOANS from other activities

26 The Finish Line Use sound business practices. Implement procedures immediately. Decisions on the implementation of reconciliations to Business Office. Implementation of Quick Books. Decisions on the inclusion in monthly board report.