1. The Right Tools For the Right Time Blueprint for Building A Solid Financial Foundation

2. Let’s Test Your Financial Knowledge

3. Today’s Agenda Understanding Funding Sources Cost Center Tools
Student Activity Fund Tools
Q & A

4. Funding Sources Cost Center Student Activity Local, and State Funds
Based on student enrollment
Purchases should be tied to instruction
Generated and expended at the school through various student activities, fees, etc.
Creating requisition in SAP
School and/or Media Purchasing Cards
Cash funds that must be receipted/deposited and spent at the local school level
Tied to school checking account
Writing check or using SAF Purchasing Card
Accountable for cost center funds through monthly BAR report
Reconciled and reported on monthly.

5. Cost Center Tools
BAR
Carry Over Formula

6. BAR BAR Can run daily in PRIME Snap shot Red Flags
Budget Exceeded
Incompatible Fund and Fund Center
Compare previous month with current month (Not cleared from month to month)
Remaining balance
Mid Year, Year End Report and Overall Score

7. Example of BAR

8. Carry Over 5% Non Personnel Funds Includes: Excluded Funds:
Supplements
Traffic Officer allotment
Excluded Funds:
SEED Funds
Extended Learning
Summer School Funds
Athletics
Part of the Overall Yearly Financial Score
Monitor monthly and develop a spending plan

9. Example of Carry Over Report

10. Definition and Purpose
Student Activity Funds are fiduciary funds consisting of resources received and held by each school to expend or invest in accordance with conditions of the fund.

11. Student Activity Funds Student Activity Fund Manual
The Student Activity Fund Accounting Procedures Manual provides standardized accounting procedures for the administration of student activity funds in all schools in the Fulton County School System (FCSS) in accordance with FCSS policies, procedures and guidelines and any applicable Local, State and Federal regulations. 

12. Monthly SAF Reporting Tools
Bank Reconciliation Reports
Journal Entry Register Report
Receipts and Disbursements Summary Report
Bank Statements

13. Journal Entry/Bank Recon
Bank Reconciliation
Balances
Outstanding Checks
Deposits in Transit
Journal Entry Register
Reference Column: Multiple Correct Postings
Should have signed requisition and invoice for each entry

14. Receipts And Disbursement Report
Series Undesignated
Series Clubs
Series Reimbursement
Series Athletics
Change
SAF P Card
Cash

15. Undesignated: Series 2000

16. Undesignated Account Totals
Revenue Accounts:
Commissions
Interest Income
Miscellaneous Income
Lockers
Parking
School Store
Expense Accounts:
Awards, Flowers and Gifts
Building/Grounds-Plant
Equipment
Instructional
Office
Other Operating Expense
Principal Expense
System Level Meetings
Surplus Account: Net balance of Undesignated Accounts at year end and other closed accounts. Should maintain a positive balance.

17. Monthly Monitoring Timely submission Principals Signature
Principals Expense
System Level Meetings
Beginning Balance=Ending Balance
SAF PC posted correctly/positive
Deposit Adjustments
Outstanding Checks
Deposits in Transit
Journal Entry corrections

18. Audit Findings
Per IA standards 5 plus findings is considered excessive
Review a 3 year history
Implement a plan for success

19. Top 5 Audit Findings Negative Account Balances
Principals Expense Exceeded
Reports not submitted on time
Cash not deposited in a timely manner
Disbursements not approved prior to purchase

20. Additional SAF Tools SAF Manual Revision Road Show: Faculty Meetings
Levels of Engagement

21. School Bookkeeper Value the time of your bookkeeper
Be a rule follower…set the example
Listen to her…but feel free to follow up
Meet consistently

22. Questions

23. Budget Department

24. Contact the SBAU with SAF questions or concerns.
SCHOOL BASED
ACCOUNTING UNIT
Contact the SBAU with SAF questions or concerns.
Gayle Fitzgerald (470)
Keima Hoard (470)
Lisa Loggins (470)
TBD (470)
Terry Black (470)