School District No. 1 - Denver Public Schools



This section of the Business and Finance Procedures Manual reviews the procedures associated with School Activity Funds. In this section you will find:

➢ Information on receiving, disbursing, and accounting for cash received from various sources, such as student fines, school stores, courtesy funds, book clubs, excursion charges, sale of materials, organization dues, etc.

➢ The Accounting Handbook for School Activity Funds, designed to assist school employees in handling this money. Basic policies and procedures, rather than accounting principles, are emphasized.

The accompanying Handbook is an update of the present Handbook adopted January 1983.

TABLE OF CONTENTS

Page

Introduction .............................................................................................................................. 1

Excerpts From Colorado School Laws .................................................................................... 3

Excerpt From The Colorado Constitution ............................................................................... 3

Policies and Procedures ........................................................................................................... 4

A. Establishment of School Activity Fund ................................................................. 4

B. Financial and Auditing Responsibilities ................................................................ 4

C. Accounts of School Activity Fund ........................................................................ 5

1. School District Accounts - Sales of Materials, Fees and Fines Account ......... 5

2. Incidental Accounts .......................................................................................... 5

3. Organization Accounts ..................................................................................... 5

4. Other Accounts ................................................................................................. 5

D. Bond and Insurance Coverage ............................................................................... 6

E. Borrowing From and For the School Activity Fund .............................................. 6

F. Banking .................................................................................................................. 6

G. Collections and Receipting .................................................................................... 7

H. Depositing .............................................................................................................. 8

I. Purchasing and Disbursements .............................................................................. 8

J. Accounting ............................................................................................................ 9

K. Transfers and Journal Entries ................................................................................ 10

L. Cancellation of Outstanding Checks ..................................................................... 10

M. Short Check Procedures ........................................................................................ 10

N. Reports ................................................................................................................... 11

O. Gifts and Donations ............................................................................................... 11

P. Scholarship and Memorial Accounts ..................................................................... 11

Q. Collections for Designated Purposes ...................................................................... 11

R. Employment ........................................................................................................... 12

S. Written Policy - Requirement ................................................................................. 12

T. Deficit Balances ...................................................................................................... 12

U. Petty Cash Procedures ............................................................................................ 12

V. Admission Tickets .................................................................................................. 13

W. Use of Denver Public Schools Identification Numbers ......................................... 13

X. Retention of Accounting Records .......................................................................... 13

Y. Forms - Accounting ............................................................................................... 14

Index ...................................................................................................................... 15

EXCERPTS FROM COLORADO SCHOOL LAWS

C.R.S. 22-45-104 -- Fees, Fines - Disposition. All moneys collected from fees or fines fixed and imposed by the Board of Education of any school district shall be paid over to the treasurer of such board as received, or in no event later than the tenth day of the month following that in which collected, and shall be credited and deposited in the same manner as other moneys belonging to the district.

C.R.S. 22-45-110 -- Violation - Malfeasance. Any school director, officer, or employee of any school district who knowingly or willfully fails to perform any of the duties imposed upon him by this article is guilty of malfeasance in office and, upon conviction thereof, the court shall enter judgment that such director, officer, or employee so convicted shall be removed from office or his position of employment.

EXCERPT FROM THE COLORADO CONSTITUTION

COLORADO CONSTITUTION, ARTICLE XI, SECTION I -- “Neither the state ... or school district shall lend or pledge the credit or faith thereof, directly or indirectly in any manner to, or in aid of any person ... for any amount or for any purpose whatever.”

POLICIES AND PROCEDURES

A. ESTABLISHMENT OF SCHOOL ACTIVITY FUND

In accordance with a Colorado Department of Education regulation, each school district will establish a “Pupil Activity Fund” through which the receipts and disbursements of school-sponsored pupil intrascholastic and interscholastic activities are recorded.

Pursuant to this regulation, the following statement has been adopted by the Board of Education:

All moneys derived from any school-sponsored activity shall be collected, accounted for and deposited under the supervision of the Treasurer of the Board of Education in the manner prescribed or directed by the Board and shall be expended for such purposes and in such manner as approved and directed by the Board. These moneys include but are not limited to athletics, dramatics, grade or class projects, student clubs or organizations, and from gifts or donations from any person in support of any such activity.

B. FINANCIAL AND AUDITING RESPONSIBILITIES

1. The Treasurer of the School District is responsible for fiscal supervision of funds handled in schools. School employees and students handling money are responsible to the District Treasurer for complying with fiscal procedures as set forth in this Handbook.

2. The General Accounting Department of the School District, working in conjunction with the Treasurer and the Internal Auditor, is responsible for developing appropriate accounting systems and procedures for School Activity Funds.

3. The principal is responsible for receipting and accounting for all money in the School Activity Fund.

4. The principal or a member of the clerical staff is designated as “bookkeeper.”

5. The principal may designate a member of the clerical staff as an “assistant to the bookkeeper.”

6. The principal must approve all expenditures over $500.00. The principal may establish a lower amount between $200.00 and $500.00 that requires their approval. Also, the organization sponsor must approve all disbursements or transfers from an organization account in writing.

7. The principal may designate another employee at the school to approve expenditures.

8. Each organization or group handling money may also designate its own treasurer.

9. Under authority of the Treasurer of the Board of Education, the Internal Audit Department is responsible for periodically auditing the school’s financial records.

C. ACCOUNTS OF SCHOOL ACTIVITY FUND

1. School District Accounts

Sale of Materials, Fees and Fines Accounts

These accounts are to be used for money collected for School District No. 1 including all fees established by the Board of Education, such as those for fines imposed for damages to or loss of School District property, equipment, and books; and sale of materials and supplies to students and parent-teacher-student organizations. Colorado Law requires that these collections be remitted to the School District Treasurer by the tenth day of the month following their collection. All of these remittances except those for damage to the building will be credited to the budget of the individual school.

2. Incidental Accounts

Money derived from school-community activities, soft drink commissions from machines available to students, contributions from patrons and organizations, school shows, interest, etc. usually is receipted to this account. Expenditures from this account must be approved by the principal on the basis that they are for the direct benefit of the students and school. Keep in mind that the Incidental Fund should primarily be used for the benefit of students. Use discretion in spending money from the Incidental Fund for food or refreshments for employees - such as for faculty meetings. This may be done on a limited basis; however, employees should be encouraged to contribute to refreshment expenses if it is their desire to have them regularly. Gifts to faculty and staff should be kept to a minimum and given only on special occasions. Accounts such as Principal’s Discretionary, Public Relations, Soft Drink Commission accounts (from machines available to students), and other similar accounts are considered Incidental accounts and should be used primarily for the benefit of students.

3. Organization Accounts

Financial activities recorded for clubs, classes, and other in-school organizations such as newspaper, yearbook, student council, school stores, gifted and talented, etc. are included in this classification. If any account in this category becomes inactive for more than one year, the balance should be transferred to the Incidental Account or an appropriately related account unless the organization, with the principal’s approval, has requested in writing a specific use of the funds.

Non-federally funded grants under $1,000 may be maintained in the School Activity Fund. Each grant should be accounted for in a separate organization account.

4. Other Accounts

Money collected and disbursed on behalf of groups such as faculty social courtesy funds are included in the “Other Account” category. It is not required that such accounts be handled by the school. If there is a separate checking or savings account, they may not use the Denver Public Schools’ employer identification number. Parent-teacher-student organizations should have their own checking accounts using their own employer identification number and should not be a part of the School Activity Fund.

5. Commissions

It is the intent of the District that money derived from all commissions, including Pepsi and vending commissions from machines available to the public and students, be spent for the direct benefit of the students.

The schools should record the commission proceeds in two separate accounts within the School Activity Fund to ensure that commissions are properly accounted for and used for their intended purpose.

Each school should set up a separate Incidental account to record the activity for all commissions, except those derived from Pepsi and vending machines only available to the faculty and staff. The principal must approve expenditures from all Incidental accounts, including the Commission account, on the basis that they are for the direct benefit of the students. Expenditures for activities, food, gifts, etc., for the faculty and staff should not be made from this account.

The activity relating to commissions derived from the faculty and staff Pepsi and vending machines should be recorded in a separate Organizational account. The expenditures from these commissions may be made at the discretion of the faculty and staff and may include, but are not limited to staff activities, food, and gifts. Transactions in this account should be made in accordance with established policies and procedures and are subject to audit as are all accounts in the School Activity Fund.

D. BOND AND INSURANCE COVERAGE

1. Bonding

The School District carries a Public Employees Honesty Blanket Position Bond for each employee.

2. Robbery Protection

Cash under the immediate control of an employee is protected by robbery and messenger insurance. Provided the principal of the school has accepted responsibility for the money in advance, cash collected at a school activity by the parent-teacher-student group or other school-related organization is covered. The amount of the insurance coverage varies according to the amount of money customarily handled by the school.

3. Burglary Insurance

Receipted funds locked in the insurable money chest or safe are protected by burglary insurance.

E. BORROWING FROM AND FOR THE SCHOOL ACTIVITY FUND

1. No school official, teacher, school employee, patron, or student may borrow any amount for any purpose from the School Activity Fund. This borrowing limitation does not apply to accounts designated for student assistance.

2. In accordance with Colorado School Law, no school employee has the authority or power to borrow money for any activity of the school.

F. BANKING

1. Each school shall have a checking account (interest-bearing optional) and may maintain savings, certificate, or money market accounts with a bank or savings and loan association. All such institutions must be authorized to do business in Colorado and be approved by the Board of Education. The Internal Auditing Department must be notified of changes in accounts maintained by the school. Each school has been assigned two Public Deposit Protection Act (PDPA) numbers, one for interest-bearing accounts and one for non-interest bearing accounts. The appropriate number(s) must be given to the financial institution(s) at which the school maintains its account(s).

2. Checking or savings accounts not authorized by and under the jurisdiction of the school principal for any school-sponsored activity are prohibited.

3. Each school shall obtain prenumbered checks from the bank.

4. The checkbook should at all times clearly indicate the checking account cash balance.

5. Each bank account must be reconciled monthly.

6. When not in use, checkbooks must be kept in the safe or another securely locked location.

G. COLLECTIONS AND RECEIPTING

1. All cash and checks received shall be submitted to the school bookkeeper or secretary and be deposited without deductions.

2. Money collected by a group or organization should be given to the school bookkeeper or secretary daily if the amount is over $20.00; in any event, all collections must be turned in to the school bookkeeper or secretary each Friday and the last day preceding a holiday or vacation period.

3. Checks can be accepted only in payment of an obligation; none may be cashed as a service to an employee, patron, or student.

4. Any check must have the student’s name noted on it.

5. Checks must be restrictively endorsed upon receipt.

6. Receipts are accounted for in the following ways:

a. Treasurer’s Receipt Book

(Prenumbered, in duplicate)

The original receipt is given to the person making the payment and the duplicate retained in the book as a permanent record.

b. Sale of Material and Fee Cards

(Various styles and forms consisting of multiple sections)

- One section is given to the pupil.

- One section is retained in the school office for accounting purposes.

- One section is given to the teacher. (Not applicable for two-section cards.)

c. Classroom Receipt Book

(Stock No. 01.0010.04 - prenumbered, in duplicate)

These books are for various small collections made by the school bookkeeper, teachers, organization treasurers, or sponsors. The primary reason for using these books is to reduce the number of Treasurer’s Receipts used and the resulting postings to the ledger. The original receipt is given to the person making the payment and the duplicate retained in the book as a permanent record. The Classroom Receipt book must be submitted to the bookkeeper with all remittances and the duplicate receipts reconciled with the collections before a Treasurer’s Receipt is written. The original of the Treasurer’s Receipt should be attached to the last Classroom Receipt included and the Classroom Receipt book number and receipt numbers noted on the Treasurer’s Receipt.

The school secretary or bookkeeper must keep a Classroom Receipt book register indicating the date and to whom each book is issued. All Classroom Receipt books must be returned to the office at the close of the school year for audit purposes.

d. Triplicate Receipt Book

(Stock No. 14.0280.00 - four on a page, in triplicate)

These books may be used when it is desirable to have a third copy of the receipt.

7. Interest earned on checking and savings shall be receipted to the Incidental Account unless the moneys deposited represent funds collected for a specific purpose, in which case the interest earned shall be receipted to the designated account.

H. DEPOSITING

1. The basic depositing procedures are that a deposit of all cash and checks shall be made at least once a week if a scheduled armored car pickup is available. Should the cash and checks on hand exceed $500.00 during this period, a deposit should be made the same day but not later than the next business day.

Checks should be deposited at least weekly by armored car pickup, at the bank, or by mail. District depositing options of cash, i.e. utilizing either paying for an armored car pickup or depositing cash through the District’s bank should be followed. In elementary schools all cash and checks must be deposited at the close of the school year.

2. All deposit slips shall be made in duplicate, and all checks shall be listed individually by maker and amount on both copies.

3. A notation indicating the first and last Treasurer’s Receipt numbers included in the deposit, and any adjustments for returned checks or deposit errors, should be made in the Treasurer’s Receipt Book. In addition, elementary schools’ deposits should be entered in the proper ledger column.

4. When a school receives official written notification from the bank that a correction has been made by them to the deposit total, this difference must be adjusted for on the next deposit or by journal entry. These corrections must also be made to the current balance in the checkbook.

5. A cash count should be performed after each deposit is made. The cash count records should be dated and retained until audited.

I. PURCHASING AND DISBURSEMENTS

1. Original invoices, sales tickets, bills for services rendered or cash register tapes listing items purchased must be submitted to the bookkeeper or secretary for all payments. All statements must be supported by original invoices attached to the statements. The bookkeeper or secretary is responsible for obtaining adequate documentation and checking for mathematical accuracy before the check is issued.

2. In secondary schools, the principal or designee and organization sponsor must approve payment prior to issuing a check, utilizing an Order on School Treasurer or substitute form.

3. The authorized purchaser should sign the invoice, Order on School Treasurer or substitute form indicating the material was received in good order.

4. All paid invoices or sales tickets should be cancelled by indicating the check number and date on the documents.

5. All disbursements shall be made by check or from petty cash. (See paragraph U on Petty Cash.)

6. Checks exceeding $500.00 require two signatures, with one signature being an administrator. The principal may require two signatures on checks between $200.00 and $500.00. Checks should state on the front: “Two signatures required for amount over [$ amount between $200.00 - $500.00].” Each school may have up to four authorized signers.

7. Refund of fees or fines should be charged to the proper School District Account. A Request for Refund must be signed by the person receiving the refund. In the case of a refund of arts and crafts material sales, industrial education material sales, lost books, etc., the request must also have the approval of the teacher.

8. Equipment purchases for amounts greater than the capitalization threshold established by District policy made from the School Activity Fund and not purchased through the School District must be reported to Inventory Management on an Equipment Activity Report (EAR).

9. According to the district’s legal counsel, purchases made from the School Activity Fund are exempt from sales tax.

10. District procedures must be followed for the use of School Activity Funds for travel, memberships (no individual memberships are to be paid), grounds improvements, carpeting and computer equipment.

J. ACCOUNTING

1. Posting to the ledger should be kept current, and accounts must be balanced at the close of each month.

2. Receipts are posted only from the Treasurer’s Receipt Book to the ledger.

3. Disbursements are posted only from the checkbook to the ledger.

4. Transaction dates, including the year, should be clearly indicated in the ledger.

5. In elementary schools, the return of cancelled checks is indicated in the ledger by entering the date of the bank statement under the column headed “Check Return”.

K. TRANSFERS AND JOURNAL ENTRIES

1. The transfer of funds from one account to another may be accomplished by making an entry in the ledger decreasing (debiting) the account from which the funds are to be drawn and increasing (crediting) the account which is to receive them. Use of the journal entry precludes the need to issue a check, write a receipt and deposit the check. Each transfer must be authorized by an Order on School Treasurer (or transfer authorization form) indicating the accounts receiving and providing the funds and must be signed by the principal or designee and by the sponsor of the school organization from which the funds are drawn. A notation explaining the reason for the transfer should also be made on the Order on School Treasurer (or transfer authorization form).

2. Transfers of money between savings and checking accounts are noted in the ledger, but amounts transferred are not included in the monthly report totals of receipts and disbursements. Authorization to make these transfers must also be documented by an Order on School Treasurer (or transfer authorization form) signed by the principal or designee.

3. Journal entries also might be used for transactions to:

- Cancel outstanding checks (see section L)

- Charge off uncollectible short checks (see section M)

- Correct posting errors

- Enter bank charges for the printing of checks and deposit slips

- Enter interest earned on checking or savings accounts

It is not necessary to obtain the principal’s authorization to make journal entries of this nature.

L. CANCELLATION OF OUTSTANDING CHECKS

Checks which have been issued and remain outstanding and uncashed for more than six months should be voided and written off. When an outstanding check is voided, the amount of the check is added back to the ledger cash account, the account from which the funds were drawn, and to the checkbook balance noting the number of the check being voided and the name of the account to which the funds are returned.

M. SHORT CHECK PROCEDURES

1. Bank adjustments for short checks should be covered as soon as possible by a redeposit of the returned item or a deposit of cash collected to replace the amount of the short check. If a charge has been made by the bank for the short check, it also should be collected. This redeposit should be done on a separate deposit slip. (It should be noted short checks are recycled no more than twice by commercial banks.)

2. Receipts should not be written for collections pertaining to short checks.

3. When the bank account is reconciled to the financial report, any outstanding short checks must be included as a reconciling item.

4. When a short check is determined to be uncollectible, it should be deducted from the ledger by journal entry, deducting (credit) the amount from cash and charging (debit) the applicable account. Any bank charge should also be deducted from the ledger. When these entries have been made, it is also necessary to subtract the short check and any accompanying bank charges from the checkbook balance.

5. If collection is made after a short check has been deducted from the ledger, it will be necessary to write a new receipt.

6. With the permission of the principal, the bookkeeper or secretary may refuse to accept further checks from anyone who previously has written short checks.

N. REPORTS

1. The Financial Report must be submitted to the Internal Audit Department by the 15th of each month. A copy of this report is to be retained for school records. The May financial report must be submitted by June 15. The June report is to be submitted when the secretary/bookkeeper/treasurer returns in August.

2. Secondary schools must submit computerized reports, including the Monthly Report, Bank Reconciliation, Trial Balance.

3. The Monthly Report of Receipts (two copies and a check) covering receipts collected for the District during the preceding month shall be sent to the Disbursing Office by the 15th of each month. Include the correct budget account numbers to which the amounts are to be credited. Athletic fees collected should be submitted to the Athletic Department. The third copy of this report is to be retained at the school.

O. GIFTS, DONATIONS AND GRANTS

1. Gifts and donations exceeding $500.00 in value must be approved by the Board of Education in accordance with Denver Public Schools Policy Book File: KCD. A gift approval form, interdepartmental communication or e-mail containing the donor’s name (and a contact person’s name if the donor is a corporation) and address, the date of the donation, the amount donated, and the intended use of the donation should be sent to the Board of Education Office. This information should be submitted to the Board of Education Office when the donation is received.

2. Generally, all grants $1,000 and over and all federally funded grants should be sent to Grants Resource Center to be sent to Grants Accounting. The Grants resource center should be contacted for details and possible exceptions to submitting the money to the District. Grants do not require gift approval.

P. SCHOLARSHIP AND MEMORIAL ACCOUNTS

Scholarships and memorials must be accounted for in individual ledger accounts. There must be documentation of any restrictions stipulated for all active scholarship and memorial accounts.

Q. COLLECTIONS FOR DESIGNATED PURPOSES

Collections for designated purposes, e.g. Pupil Assistance Fund, donations to a charitable organization, etc., must be remitted to the proper organization or agency on a timely basis.

R. EMPLOYMENT - SCHOOL ACTIVITY FUND

1. Payments to students for regular or continuing employment from the School Activity Fund must have the prior approval of the proper Area Superintendent.

2. No employees of Denver Public Schools may be paid for services from the School Activity Fund. All amounts to be paid must be added to the payroll. A check can be issued to School District #1 from the appropriate account in the School Activity Fund with a memo stating the budget account number to be credited.

3. Information must be provided to the Accounts Payable Department of any individual (non DPS employee) paid from the School Activity Fund for services rendered. Each individual paid must complete a Form W-9. Information should be submitted to Accounts Payable within a week after the payment is made. Forms and instructions are included in the Accounts Payable section of the Business and Finance Procedures Manual. The Accounts Payable Department discourages the payment of independent contractors from the School Activity Fund. If you pay an individual (non-DPS employee) for services rendered you must follow the guidelines set forth by Accounts Payable and Purchasing. See the appropriate department web site for specific instructions for requirements for Contracts, form W-9 and H B 1023 affidavit.

S. WRITTEN POLICY - REQUIREMENT - SCHOOL ACTIVITY FUND

Each secondary school must have a written policy regarding procedures used in the handling of the School Activity Fund. This information is to be given each year to all administrators, staff and students responsible for school money.

T. DEFICIT BALANCES

1. The principal must not allow any expenditure resulting in a deficit balance in an account at the end of the school year.

2. Deficits occurring during the school year must be eliminated at the close of school by approved transfer from an appropriate account.

U. PETTY CASH PROCEDURES

1. A petty cash fund of not more than $100.00 ($250.00 for secondary schools) may be established for small disbursements not exceeding $10.00 ($25.00 for secondary schools).

2. A petty cash fund is established by means of an Order on School Treasurer being approved by the principal. The bookkeeper than draws a check to the order of the school petty cash fund, and records the check in the cash journal by decreasing the cash column and increasing the petty cash column.

3. Whenever a disbursement is made from petty cash, the signed Request for Refund, original invoice, or sales ticket replaces the amount paid out. In this manner the petty cash fund always will be kept intact, having at all times the cash or its equivalent in supporting documents.

4. When petty cash expenditures have depleted the fund to such an extent that it becomes necessary to make a reimbursement, an Order on School Treasurer should be completed for this purpose. The school bookkeeper then draws a check payable to the school petty cash fund for the amount of the reimbursement. The check is cashed and the money returned to the petty cash fund. The requests and invoices, attached to the reimbursing order, become part of the regular accounting files. The expenditures represented by this reimbursing check are charged to the proper accounts.

V. ADMISSION TICKETS

1. Tickets must be used when an admission fee of $1.00 or more is charged.

2. Tickets must be serially numbered, and may be ordered from a printer or theater supply company.

3. A record of all ticket numbers is to be made by the school bookkeeper before the tickets are released to the person in charge of sales.

4. Tickets collected at the door must be punched or torn in two.

5. Within one week after ticket sales are closed, all unsold tickets and a sales report must be filed with the school bookkeeper.

W. USE OF DENVER PUBLIC SCHOOLS IDENTIFICATION NUMBERS

1. The DPS employer identification number may not be used on accounts at financial institutions for any organization maintaining a separate account. An organization not within the School Activity Fund must obtain an independent employer identification number.

2. The DPS employer identification number is to be used for all School Activity Fund accounts at financial institutions. It may also be used when requested by companies giving commissions, grants, or donations.

X. RETENTION OF ACCOUNTING RECORDS

Internal accounting records must be retained according to the following schedule:

Journals and Ledgers - elementary 20 years

Journals and Ledgers - secondary

computer disks stored in protective box 20 years

Journals and Ledgers - secondary

hard copies 7 years

Checking and Savings Statements 7 years

Cancelled Checks and Stubs 7 years

Treasurer’s Receipt Books 7 years

All other supporting material 2 years

Y. FORMS - ACCOUNTING

Stock Number

Book, Receipt, triplicate, four on a page 14.0280.00

Classroom Receipt Book 01.0010.04

Internal Accounting Cashbook-Ledger sheets,

Form B (Elementary) 01.0010.16

Journal Sheets, white, six column, secondary 14.3070.00

Monthly Financial Report, Elementary 01.0010.01

Monthly Report of Receipts 01.0010.05

Order on School Treasurer 01.0010.02

Request for Refund 01.0010.13

Sale of Material and Fee Cards Various stock numbers

INDEX

Section Page

Accounting .................................................................................................... J 9

Accounting Handbook for School Activity Funds - Purpose ....................... Intro 1

Accounting Records, Retention of ................................................................ X 13

Accounts - Inactive Organization .................................................................. C-3 5

Accounts of School Activity Fund ................................................................ C 5

- Incidental - Purpose ........................................................................ C-2 5

- Organizations - Purpose and Type .................................................. C-3 5

- Other - Purpose and Type ............................................................... C-4 5

- School District - Purpose and Type ................................................ C-1 5

Admission Tickets ........................................................................................ V 13

- Collection of ................................................................................... V-4 13

- Record of ........................................................................................ V-3 13

- Required Where Charge is $1.00 or more ...................................... V-1 13

- Serially Numbered Requirement of ............................................... V-2 13

- Ticket Sale Record, Use of ............................................................ V-5 13

Adoption of Accounting Handbook for School Activity Funds.................... A 4

Auditing Frequency ...................................................................................... B-10 5

Auditing Responsibilities ............................................................................. B-9 4

Balancing of School Activity Fund Accounts .............................................. J-1 9

Banking Procedures ...................................................................................... F 6

Bonding Coverage ........................................................................................ D-1 6

Bookkeeper

- Assistant to ..................................................................................... B-5 4

- Designation of ................................................................................ B-4 4

Borrowing From and For the School Activity Fund .................................... CC, E 3, 6

Burglary Insurance ....................................................................................... D-3 6

Cancellation of Paid Invoices ...................................................................... I-4 9

Cancellation of Outstanding Checks ............................................................ L 10

Cancelled Checks - Notation in Ledger or Checkbook ................................ J-5 9

Carpeting, Purchase of.................................................................................. I-10 9

Cash and Balancing of ................................................................................. H-5 8

Cashing of Checks ....................................................................................... G-3 7

Checkbook - Maintaining Current Balance of ............................................. F-4 7

- Security of ..................................................................................... F-6 7

INDEX

Section Page

Checking Accounts ...................................................................................... F-1 6

- Principal Control of ....................................................................... F-2 6

- Reconciliation of ........................................................................... F-5 7

- Request for Approval of ................................................................ F-1 6

Checks - Endorsement of ............................................................................. G-5 7

- Outstanding - Cancellation............................................................. L 10

- Prenumbered Requirements ........................................................... F-3 6

- Signature Requirements.................................................................. I-6 9

- Student’s Name on .......................................................................... G-4 7

Classroom Receipt Book .............................................................................. G-6c 7

Collections ................................................................................................... G 7

- Designated Purposes ...................................................................... Q 11

- Fees ................................................................................................ C-1 5

- Fees and Fines - Colorado School Law ......................................... CSL 3

- Fines .............................................................................................. C-1 5

- Frequency of Submission to School Bookkeeper ......................... G-2 7

- Submission to School Bookkeeper ............................................... G-1 7

Colorado Constitution ................................................................................. CC 3

Computer Equipment, Purchase of.............................................................. I-10 9

Deficit Balances .......................................................................................... T 12

Deposit Slip ................................................................................................ H 8

- Duplicate Required ....................................................................... H-2 8

- Listing of Checks by Maker and Amount ..................................... H-2 8

Depositing ................................................................................................... H 8

- Corrections to ............................................................................... H-4 8

- Frequency Requirement for .......................................................... H-1 8

- Notation Required in Treasurer’s Receipt Book and /or Ledger .. H-3 8

Disbursements ............................................................................................. I 8

- Methods of .................................................................................... I-5 9

- Posting to Ledger .......................................................................... J-3 9

Donations .................................................................................................... O 11

Employer Identification Number ................................................................ W 13

INDEX

Section Page

Employment - School Activity Fund .......................................................... R 12

Equipment Purchases From School Activity Fund...................................... I-8 9

Establishment

- Financial Procedures of School Activity Fund ............................. B-2 4

- School Activity Fund .................................................................... A 4

Expenditure Approval

- Organization Sponsor .................................................................... B-6 4

- Principal ........................................................................................ B-6 4

- Principal Designate Another Employee ........................................ B-7 4

Fees - Collected ........................................................................................... C-1 5

Financial Responsibilities ............................................................................ B 4

- Employees and Students ................................................................ B-1 4

- School District Treasurer ..............................................…………. B-1 4

Fines - Collected ........................................................................................... C-1 5

Forms - Accounting ...................................................................................... Y 14

Gifts .............................................................................................................. O 11

Grounds Improvements, Payments for.......................................................... I-10 9

Inactive Organization Accounts ................................................................... C-3 5

Incidental Accounts ...................................................................................... C-2 5

Insurance - Burglary ..................................................................................... D-3 6

Interest - Recording of .................................................................................. G-7 8

Interest Earning Accounts............................................................................. F-1 6

- Principal Control ............................................................................ F-2 6

- Reconciliation of ............................................................................ F-5 7

- Request For Approval .................................................................... F-1 6

Introduction to Accounting Handbook for School Activity Funds .............. Intro 1

Invoices - Cancellation of ............................................................................. I-4 9

Journal Entries .............................................................................................. K 10

- Authorization Requirements for ..................................................... K-1 10

- Examples of .................................................................................... K-3 10

Lending ......................................................................................................... CC 3

Memberships, Payments for.......................................................................... I-10 9

INDEX

Section Page

Memorial Accounts ..................................................................................... P 11

Organization Accounts ................................................................................ C-3 5

Organization Treasurer - Designation ......................................................... B-8 4

Other Accounts ........................................................................................... C-4 5

Outstanding Checks .................................................................................... L 10

Parent-Teacher-Student Organization Accounts ......................................... C-4 5

Petty Cash ................................................................................................... U 12

- Disbursement Limit of ................................................................. U-1 12

- Disbursement Procedure for ......................................................... U-3 12

- Establishment Procedures of ........................................................ U-2 12

- Reimbursement of ........................................................................ U-4 12

- Size Limit of ................................................................................ U-1 12

Policy - Board of Education ....................................................................... A 4

- Written Requirement of ............................................................... S 12

Posting to Ledger ....................................................................................... J 9

Principal’s Responsibility .......................................................................... B-3 4

Purchases - Equipment ............................................................................... I-8 9

Purchasing .................................................................................................. I 8

- Documentation Requirements ...................................................... I-1 8

- Prior Approval .............................................................................. I-2 9

- Responsibility for Documentation Requirements ......................... I-1 8

- Sales Tax ....................................................................................... I-9 9

Purpose - Accounting Handbook for School Activity Funds ...................... Intro 1

Receipting .................................................................................................... G 7

- Classroom Receipt Book for ......................................................... G-6c 7

- Sale of Material and Fee Cards for ................................................ G-6b 7

- Treasurer’s Receipt Book for ......................................................... G-6a 7

- Triplicate Receipt Book (four on a page) for ................................. G-6d 8

Receipts - Posting to ledger .......................................................................... J-2 9

Receiving of Goods Ordered - Acknowledgment of .................................... I-3 9

Refunds of Fees and Fines ........................................................................... I-7 9

Remittance to District Treasurer of Fees and Fines ..................................... C-1 5

- Collected ........................................................................................ CSL 3

INDEX

Section Page

Reports .......................................................................................................... N 11

- Financial Report ............................................................................. N-1 11

- Monthly Report of Receipts............................................................. N-3 11

- Secondary ..............................................................................……. N-2 11

Responsibilities - Financial and Auditing ..................................................... B 4

Retention of Accounting Records ................................................................. X 13

Robbery Protection ....................................................................................... D-2 6

Salaries - Reporting to Accounts Payable Department ................................. R-3 12

Sale of Material and Fee Cards - Use of ....................................................... G-6b 7

Sale of School District Materials .................................................................. C-1 5

Sales Tax Exempt Number............................................................................ W-2 13

Sales Tax Exemption..................................................................................... I-9 9

Scholarships ................................................................................................. P 11

School Activity Fund

- Establishment ................................................................................. A 4

- Purpose .......................................................................................... A 4

School Budget Accounts - Credit for Remittance ........................................ C-1 5

Short Checks ................................................................................................ M 10

- Receipts for .................................................................................... M-2 10

- Reconciliation of Financial Report to Bank Account Due to ........ M-3 10

- Redeposit for Cash Replacement of ............................................... M-1 10

- Refusal to Accept Further Checks ................................................. M-6 11

- Uncollectible ................................................................................ M-4,5 11

Table of Contents ........................................................................................ 2

Transfers ...................................................................................................... K 10

- Authorization Requirements of ..................................................... K-1 10

- Between Savings & Checking Accounts Procedures & Requirements K-2 10

Travel Expenditures...................................................................................... I-10 9

Treasurer - Organization .............................................................................. B-8 4

Treasurer’s Receipt Book ............................................................................. G-6a 7

Triplicate Receipt Book ............................................................................... G-6d 8

Violation and Malfeasance of Duties Relating to School Activity Funds.... CSL 3

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School Activity Fund

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