1 New Principal In-service Local School Accounting Procedures Michael Hudson, CPA Internal Auditor

2 Fund Categories  Public  Non-Public

3 Public Funds  Tax Dollars  Student Class Fees  Event Revenues  Legislative Grants  All Vending Machine Monies  Gate Receipts  Concessions  Parking

4 Non-Public Funds  Organized Student Groups  Booster Clubs  PTA/PTO

5 Allowable Public Fund Expenditures  General Operations  Instructional Supplies  Testing Supplies  Staff Development  Transportation to Events Related to a School Sponsored Activity

6 Unallowable Public Fund Expenditures  Gift items for Staff  Flowers for Staff and/or Families  Staff Holiday Parties/Christmas Gifts  Coffee and Cups for Employees  Donations to Other Organizations  Expenses for Employee Spouses

7 Cash Receipts  Cash receipted twice - Teacher/Sponsor receipt - Master Receipt

8 Safeguarding of Money  Money collected at the school should be kept in a locked safe, drawer, or file cabinet at all times  Never leave cash on your desk, in a bag near your desk, or in an unlocked closet or cabinet

9 No Cash Purchases  Teachers/Sponsors should remit all monies collected in its entirety  ABOSOLUTELY NO payments out of collected cash  All expenditures through purchase order process

10 Cash Disbursements Cash Disbursements require:  Purchase Orders  Invoices/Receipts  Payment by check  Principal’s original signature

11 Purchase Orders  Approved detail purchase order REQUIRED for ALL purchases prior to the order being made  Items purchased without an approved purchase order will be the responsibility of the ordering individual  CFO approval required on all single items costing $500 or more  Board approval required on all travel expenses costing $600 or more

12 Sales Tax  School System tax-exempt  Do not pay tax on invoice except for the following: - Sales tax on meals - Lodging tax on hotels - Rental tax on copier leases / rental cars

13 Fundraisers  Fundraisers must be approved by Principal  Fundraisers must be planned to generate a profit  Fundraiser financial report submitted to principal and bookkeeper

14 Salary Supplements  Board Approved  School Accounting System  Choreograph Band Drill  Design Football Plays  Oversee Track Meets

15 Use of School Property  Athletic and Band Camps  Gate Receipts and Parking  Season Passes  Insurance  Utilities  Maintenance

16 Concessions  School Purchased Supplies  Booster Purchased Supplies  School Property during School Hours

17 Commingling  Do NOT Commingle Public Funds with Non-Public Funds!!!

18 Common Documents at Local Schools  Teacher/Sponsor receipt  Multiple receipt listing form  Purchase order form  Expense reimbursement form  HR-124  B3044