Chapters 11, 15, 19 Ashley Calhoun, Mary Baker, Jonathan Evans, Jeremy St. Germain

Online Purchasing "Using the internet to order goods or services for school use." (Mutter & Parker, 63) Benefits: Faster Increased Efficiency Order Confirmation available

Guidelines to ensure security 1) Use effective/reliable vendors, "pre-approved" with the district and/or school. 2) Limit staff to certain vendors to build familiarity 3) Require documentation from vendors regarding firewalls to ensure security of school accounts. 4) Require approval for online orders 5) Ensure school security is up to date to protect against viruses.

Electronic Banking Transfers A monetary transaction initiated through an electronic terminal, telephone, or computer to authorize a financial institution to add or deduct funds from an account. Electronic banking transfers allow you to move money from one account to another withou writing a traditional check to authorize the transaction.

Chapter 15: The School Budget School Budget: Is an estimate of the total revenue and expenditures for a school year. They receive revenue sources from three sources: District operating funds Grand funds Funds from parents, students, staff and patrons

District Operating Funds These funds are used to keep the schools running. Funds include: employee salaries building electricity equipment supplies These funds have a one year time limit to be spent (July 1 to June 30) There are some restrictions on the use Allocated according to the number of students in the school

Grant Funds are not automatically allocated and usually require a school to file a competitve application with granting agents. Funds are o Restricted o Time limited o Reporting requirements o Money from organization,companies, or government agencies

Funds from Parents, Students, Staff, and Patrons School take in a variety of funds through: ticket sales to school events vending machines school store club related fund raising activites Three categories of activity funds: School Accounts: contain money used to pay for the educational resources your school needs Student Accounts: contain money raised by students. Money to be used by specific student group that raised the money. Flow-Through accounts: Contain money collected at the school on behalf of the central office.

Projecting the Annual School Budget Projecting a school budget use these helpful hints: o use past records o seek advice of experienced staff members o have bookkeeper compile the current balance and history of each account. o With your bookkeeper you need to establish expenditure and revenue targets for each account. o Throughout the school year the bookkeeper needs to provide you with monthly status summaries of your school accounts

Chapter 19: Transfers and Adjustments Transfers Used to move funds Necessary to close books Executed as needed Adjustments Used to correct errors Executed when discovered Documentation required Approval required Numbered and tracked Net to zero

Procedures for making transfers and adjustments Transfers and adjustments should be monitored by the principal Should always be accompanied by documentation authorizing the change As principal, you can give written approval before or after th bookkeeper posts a change to the records

Advantages & Disadvantages Prior approval o you must approve the transaction before the bookkeeper enters it o this ensures that changes are not made without authorization All requests for the transfer of funds should be in writing Never authorize without documentation Number and track all authorizations

Accounting Rules Transfers can only be made between te same type of account Adjustments can be made from all accounts Both transfers and adjustments must net zero Adjustments should be made as soon as possible Transfers can be restricted to a certain time period Transfers are necessary at the end of the fiscal year