Presentation on theme: "Student Activity Training 2008"— Presentation transcript:
1 Student Activity Training 2008 Massena Central School DistrictCynthia M. Yager, Assistant SuperintendentNatascha L. Jock, District Treasurer
2 What are these activities for? For students by studentsLearn proper business practices and proceduresBudgetingBusiness planningProfit and lossAcquire money handling skillsSchool community service
3 Organizational Requirements By-laws (Charter)Elected Officers:PresidentVice-PresidentTreasurerSecretaryFaculty AdvisorCentral TreasurerRegular MeetingsBusiness planProfit & Loss StatementsBy-Lawssubmitted to BOE for approval upon start up of clubCan be amended if necessaryDetail who can be a member, the purpose of the club and types of activities.Elected OfficersRequired to have at a minimumOfficers are elected annuallyFaculty AdvisorAppointed by the Building PrincipalAdvisors can be removed if procedures are not followedAdvisors play a mentor role in the club CAN NOT make decisions or voteCentral TreasurerBusiness Office EmployeeMaintains all cash for the activitiesGo to person for questionsMeetingsRequired monthly at a minimumMinutes must be recorded at every meetingMeetings must discuss any expenditures, fundraising
4 Student Activity Books Policies & Procedures ManualBy-laws (Charter)Annual Business PlanList of officersCash LedgerCopies of all receipts & purchase ordersMinutes from meetings
5 Faculty Advisor Job Duties Guide & advise studentsSafeguard monies & verify depositsReview purchase requestsAssist with profit & loss statementsDoes NOT prepare deposits, cash ledgers, requisition or voucher formsAdvisor should NOT treat activity as their own
6 Student Activity Treasurer Job Duties Receive & deposit all money to Central Treasurer in Central Business OfficeFollow purchasing policies & proceduresMaintain accurate cash ledger balancesDetermine availability of sufficient fundsFollow NYS Sales Tax guidelinesComplete Fundraiser Request Forms & Profit and Loss Statements
7 Central Treasurer Job Duties Maintain custody of cash for all clubsPrepare & pay sales taxPrepare bank reconciliations for activity accountsSubmit reports to Student Activity TreasurersMaintain separate cash records for all activitiesCollect & prepare annual audit information
8 Central Business Office Functions Prepare purchase orders from requisition formsIssue checks to pay for purchase orders & voucher formsAudit all payments & receiptsShipping & receiving department checks in all goods
9 Business Plan Should answer the following questions: What will the function of the club be?What kind of activities do we want to do?How much will these activities cost?How can we raise funds?Who is our competition?Where is your market & location?
10 Cash Ledger Can be done in Excel if signed by Activity Treasurer Treat as checkbook registerReconcile at least quarterlyMust include:Receipt # or PO #Complete descriptionRunning Balance
11 Cash Collection Procedures Collected by the Student Activity TreasurerCounted by two people from the clubNO money taken home or left unsecuredChecks must be made out to “Massena Central School District”NO personal check cashing or transactionsDeposits must be accurate
12 Deposit ProceduresCash must be wrapped appropriately & sealed in a money bagList check numbers & amounts in ExcelDeposits brought to the Central Treasurer immediately after cash collection.Central Office Hours:Monday – Thursday 7:00 AM to 4:00 PMFriday 7:00 AM to 1:00 PMCash pick up is available if necessaryCall Mrs. Jock at Ext. 3012
13 Deposit FormIndicate if taxable salesMust reconcile sales to cashVerified & signed by Advisor & Student TreasurerCentral Treasurer will issue a pre-numbered receipt when money is receivedRecord deposit in activity ledger book
15 Cash Disbursements Procedures No order placed without approved purchase orderBidding requirements must be followedReceipts can not be dated prior to purchase orderAfter goods/services received, send signed requestor copies to business officePayments processed bi-weeklyUnauthorized purchases become the responsibility of the purchaser
16 Requisition Form Complete requisition form for each purchase Signed by the following:Activity TreasurerAdvisorBuilding PrincipalAssistant SuperintendentCopy of approved minutes must be attached to requisition formPurchases must be delivered to the shipping & receiving department
18 Voucher FormReimbursements are limited, requisition and purchase order process must be followedPreauthorization is required for all spendingOn a limited basis reimbursements can be made for legal club authorized expensesClaim forms must be filled out completelyClub minutes authorizing the expense must be attached
20 Tax Exempt StatusClubs are NOT included in the District’s tax exemption. Clubs are subject to sales tax per NYS law. Without exception, it is illegal for clubs to use the District’s exemption certificate and/or number.
21 Sales Tax Must be collected on all taxable fundraisers/sales Must be paid on all taxable purchasesSales tax paid and collected should be reported to the Central TreasurerIf not reported, it will be charged to your account quarterly
22 When in doubt, ask the Central Treasurer Examples of Sales TaxNon-TaxableSale of newspapers or periodicalsAdmission to dramatic or musical arts performancesBake salesAdvertisingEntry feesFood salesTaxablePrepared food sold in heated stateCandy bars salesClothing or jewelryAdmission to dancesYearbook salesCar washesPlant salesWhen in doubt, ask the Central Treasurer
23 Fundraiser Request Form Submitted & approved 2 weeks prior to fundraiserApproved by Principal and Central TreasurerInclude meeting minutes with all detailsIt illegal to collect monies for charitable organizations during the school day from childrenGambling/games of chance are not allowed; including 50/50 and other sorts of raffles
25 Profit and Loss Statements Submit 1 week after the end of fundraiserIndicate fundraiser performanceFundraiser must be well planned & monitoredDetail all revenues & expendituresMust include original estimates from fundraiser request form
27 Club Meetings Should be held monthly Minutes for all important decisions must be maintained:Business PlanFundraisersDonationsPurchasesProfit and Loss ReportsVoting results (Majority Rules)
28 Miscellaneous Rules Cash must be deposited in a timely manner Deposits must be accurateNo outside bank accounts allowedPurchase through proper procedures onlyAll monies must go through the Central Treasurer
29 Audit RequirementsNYS Comptroller mandates annual audits by an external audit firm to safeguard fundsThe Internal Claims Auditor audits all expensesThe Central Treasurer audits all depositsSemi-annual audits of activity books performed (December and June)Audits ensure that proper procedures are followed & funds are handled appropriately
30 Issues That Could Lead to Fraud or Other Accusations Unauthorized bank accounts/petty cashPersonal check cashingUnauthorized purchasesThe expense is more than the cost of goods soldMissing fundsGoods shipped to personal addresses
31 External Audit Finding 2004-2008 Condition: During our discussion of Extra Classroom Activities, we noted that some of the activities do not maintain proper by-laws, constitutions, minutes of meetings or student general ledgers. Many of the ledgers are being kept by advisors and not filled out until the treasurer sends the treasurer’s report to the club. If accounts are not reconciled on a monthly basis, fraud or misappropriation of money could occur during the year without being noticed. Without proper documentation of minutes and constitutions, there is no proof that the money is actually being spent for what the students want and agree upon. This could also lead to potential misappropriation of student funds. During the year 05-06, we noted that at least one club did not submit cash receipts to the Central Treasurer in a timely manner. Also, cash receipts from fundraisers were not deposited, but rather spent to purchase items for the club.Carl Seyfarth, CPA
32 External Audit Finding 2004-2008 Recommendation: We recommend that there be a discussion with all student activities regarding the requirements they should be following. All clubs should draft constitutions, maintain minutes to all meetings and a student general ledger. Treasurer’s reports should be sent to the student activities at least once a month and reconciled to the student general ledger by the treasurer of the activity. The students should maintain student ledgers in a timely fashion and entries should be made prior to receiving the treasurer’s report. All cash receipts should be submitted by students to the Central Treasurer in a timely manner. All purchases should be made using the proper procedures and disbursements should be made by the Central Treasurer. Advisors should not use personal funds or credit cards for club activities.Carl Seyfarth, CPA
33 Consequences for Noncompliance Failure to comply with any of the policies & procedures set forth may jeopardize the existance of your club and the ability to participate in future fundraising activities.
34 Resources and Contacts Advisor ___________ Ext. ____ Principal ___________ Ext. ____ Accounts Payable Clerk Rebecca LeBoeuf Ext Central Treasurer Natascha Jock Ext Asst Superintendent Cynthia Yager Ext. 3006We are here to assist you!!
35 When in doubt…….. Check with the Central Treasurer!!! The only stupid question is the question not asked!!!!