Student Activity Guide Massena Central School District 2018

Extraclassroom activities fund Policy 5520 An extraclassroom activity fund shall be established for activities conducted by students whose financial support is raised other than by taxation or through charges of the board of education. All funds in the extraclassroom activity fund shall be kept according to standards of good financial management. Proper books will be kept and all monies deposited in appropriate accounts as set up by the board of education. These accounts shall be subject to audit. All transactions involving extraclassroom funds shall be on a cash basis and no accounts shall remain unpaid at the end of the school year. The building principals, with approval of the superintendent of schools, shall set up procedures for receipt and payment from the extraclassroom activities fund in their respective buildings.

For the students by the students Hands on life skills Accountability Budget knowledge Business planning Money handling skills Educational Fun

Who is who… Extraclassroom activity organization Elected officers-club elected President Vice-president Treasurer Secretary Faculty advisor-board appointee Central treasurer-board appointee Building official-building principal

Student activity treasurer Job duties Central Treasurer Faculty advisor Student activity treasurer Guide & advise students Safeguard monies & verify deposits Review purchase requests Assist with profit & loss statements Does NOT prepare deposits, cash ledgers, requisition or voucher forms Advisor should NOT treat activity as their own Receive & deposit all money to central treasurer in central business office Follow purchasing policies & procedures Maintain accurate cash ledger balances Determine availability of sufficient funds Follow NYS sales tax guidelines Complete fundraiser request forms & profit and loss statements Maintain custody of cash for all clubs Prepare & pay sales tax Prepare bank reconciliations for activity accounts Submit reports to student activity treasurers Maintain separate cash records for all activities Collect & prepare annual audit information

Some fund basics Principles Procedures Two separate sets of records At least 2 people shall take part in disbursing money; minimum the student treasurer and central treasurer All accounts shall be audited annually The accounting system shall yield the largest possible educational return without sacrificing safety of funds Never take money home Procedures Obtain prior approval Deposit funds in a timely manner File all supporting data for the deposit, including the receipt from the central treasurer, in binder Reconcile binder monthly

Student Activity Binder Policies & procedures Club charter Cash ledger Cash receipt-signed Cash disbursements Fundraising Minutes-detailed

Club meetings Should meet at least monthly Every meeting should be documented Minutes need to show Who was present Old business and new business Treasurers balance Date and time

fundraising Must be approved by principal and Central Treasurer prior to activity Include detailed minutes All club students should benefit from the fundraiser Any fundraiser selling food must also be approved by Food Service Director Gambling or games of chance are not allowed; this includes 50/50 and other raffles After all approvals the fundraiser will be added to the calendar by the Central Treasurer

Deposits Fill out deposit form and include all detailed information Separate currency by denominations Bundle 1-dollar bills in groups of 50 Roll all coins when possible Include a list of checks in the deposit bag AND one for central treasurer Place all funds and materials in clear bag and SEAL it Bring to central treasurer and get a receipt

purchasing **Do NOT purchase anything with out getting a PO** Fill out a requisition form Attach minutes (this proves the students agree to purchase) and any other supporting documentation Get proper signatures for purchase Send to central treasurer Form will be sent to central treasurer to encumber funds and process the purchase

Sales tax Clubs are subject to sales tax per NYS law. general Not taxable taxable Must be collected on all taxable fundraisers/sales Must be paid on all taxable purchases Sales tax paid and collected should be reported to the central treasurer If not reported, it will be charged to your account quarterly Sale of newspapers or periodicals Admission to dramatic or musical arts performances Bake sales Advertising Entry fees Food sales Prepared food sold in heated state Candy bars sales Clothing or jewelry Admission to dances Yearbook sales Car washes Plant sales

Profit and loss statement Shows how the fundraiser did Verify all expenses Include original estimates Detail all revenue Submit to central treasurer 1 week after end of fundraiser

Miscellaneous rules Cash must be deposited timely No outside bank accounts Follow procedures for all purchases All monies must go through central treasurer Reconcile club binder regularly Bring binder to central treasure for audit

audits NYS comptroller mandates annual audits by an external audit firm to safeguard funds The internal claims auditor audits all expenses The central treasurer audits all deposits Semi-annual audits of activity books performed (December and June) Audits ensure that proper procedures are followed & funds are handled appropriately Right click on this link for helpful information in Pamphlet 2: http://www.p12.nysed.gov/mgtserv/accounting/docs/Extraclassroom ActivitiesJanuary2015.pdf -

Prevention is key Issues that could lead to fraud: Unauthorized bank accounts/petty cash Personal check cashing Unauthorized purchases The expense is more than the cost of the goods Missing funds Shipping to home address

consequences Failure to comply with the policies and procedures set by the board of education may jeopardize the existence of your club and the ability to participate in future activities. Please ask when in doubt.

Further material and district forms can be located on our website at www.mcs.k12.ny.us