North Allegheny School District Student Activity Funds-Sample Forms & Documents May 5, 2004

2 Where are we? May 5-EST/SST- Review of Sample Forms & Documents September 4, Homework Assignment Secondary Schools Presentation June 17, 2003-Presentation to EST/SST August 20, 2002-Presentation to Building Bookkeepers

3 Today’s Focus Review of forms to help you implement procedures identified in prior presentations and PASBO’s Student Activity Guide. Utilization of sound business, budgetary and accounting procedures. Final direction on NON-Student Activity Accounts. Direction to complete remaining issues for specific schools.

4 Student Officers Student Officer authorizations and approvals should be included for all transactions. An annual record must be kept on file that includes: Faculty Advisor Date of Inception Purpose of Activity Student Officers Minutes must be maintained for all meetings

5 Student Activity: Inception Date: Account NO: Board Approval: Faculty Advisor: President: Vice President: Secretary: Treasurer: Building Administrator Approval: Sample Activity Record

6 Budgets/Final Evaluation Budgets: Each activity should have a budget detailing the source and amount of revenues and expenditures. Budget to Actual Records: A final analysis of the activity’s revenues and expenditures and reconciliation to the budget should be maintained.

7 Expenditure Details DESCRIPTIONBUDGETACTUALVARIANCE Royalties$1,000$1,200$-200 Costumes1, Sets2,0002, Balloons/Flowers1, Flyers/Brochures/Programs1,2001, Concessions50 0 T-Shirts, Video’s, Cast Party Total Expenditures$6,850$7,220$-370

8 Revenue Details DESCRIPTIONBUDGETACTUALVARIANCE Ticket Sales$4,000$4,200$200 Concessions Flowers Balloons500 0 Advertisements1,2001, Parents’ Page T-Shirts, Video’s, Cast Party Total Revenues$7,000$7,310$310

9 Budget Sample DESCRIPTIONBUDGETACTUALVARIANCE Amount of $ Raised$7,000$7,310$310 Donations Total Receipts$7,000$7,310$310 Initial Expenditures Project Expenditures$6,850$7,220$-370 Lost Material Other Expenditures Total Expenditures$6,850$7,220$-370

10 Budget Sample-Continued DESCRIPTIONBUDGETACTUALVARIANCE Total Receipts$7,000$7,310$310 Total Expenditures6,8507, Profit (Loss) See separate handout with actual Budget Worksheets.

11 Receipts Revenue Controls: Cash should be deposited daily in a bank. Any amounts not deposited daily should be placed in a safe. Large receipts should be deposited in an overnight depository rather than placed in a safe. Types of Revenues: Each revenue source should be deposited separately. Deposit records should be kept for all receipts and deposits by the Activity Personnel. Student Officers: Authorizations and approvals should be included for all receipts.

12 Student Activity: Deposit Date:______ Building: School Year: Receipt Date Donor NameCheckCash Received by Faculty Sponsor Approval_________________ Student Officer Approval_________________ Building Administrator Approval_____________ Sample Deposit Record

13 Building: Student Activity: Receipt # School Year: Donor Name: Address: Check:Cash: Received by:Date: Original: Student Activity Copy 1: Attach to deposit record Copy 2: Donor Sample Donor Receipt

14 Musicals/Plays Ticket Documentation: Tickets should be pre-numbered or recorded by number of tickets allocated to ticket sellers and reconciled with unused tickets and cash collections. Each deposit should have a record of the amount of tickets sold and the price per ticket sold. A person independent of the ticket sellers must control ticket numbers and restrict access to the ticket stock. Independent control and reconciliation of numbers is required. Appropriate supervision or separation of duties, as described above, adds to the reliability of the process. Parent’s Page/Candy Sales/Other Sales: Deposits for each sale should include detailed documentation.

15 Expenditures Monies can not be expended from these funds without the express permission of the students. Student Officer authorizations and approvals should be included for all transactions. Loans are prohibited. Checks must be written for ALL expenditures. NO Exceptions! Reimbursements for items should be minimal and never paid without a check. Checks should be written directly to vendors especially for items that are large in nature.

16 Physical Inventory/Maintenance of Equipment Purchased Physical Inventory: A physical inventory should be taken at the end of each play. Safe storage of items are necessary.

17 Retention of Records All records and documents should be retained until the Financial Services Department has authorized disposal. This includes but is not limited to unused tickets, listings of receipts, invoices, quotes, and contracts.

18 Non-Student Accounts Funds that do not involve student activities must be separated and not commingled in the funds. These funds are considered School General Fund monies and should be handled accordingly. Separate bank accounts can be utilized. Any profits will have to be sent to the General Fund at year end. Monthly reporting and inclusion in the Board Reports will be required. The same reporting and reconciliations that are conducted by the bookkeepers for the current Student Activity Accounts will be required. Please let the Financial Services Department know if you wish to set up a separate account.

19 Non Student Accounts What do we do with our coffee, retiree, flower, gift accounts? You may still have these accounts, but they are not Student Activity Accounts and not part of the General Fund. Staff will have to use their own systems to safeguard cash and issue disbursements. What happens to the Lost Book and Parking Fee accounts? The Lost Book account is a fund for Students who lose their books. Since the General Fund pays for text and library books, this account should be transferred to the General Fund. Parking fees should also be transferred to the General Fund.

20 Funds Transferred to the General Fund Should we send a deposit to the General Fund each time we receive money from a student for lost books or parking fees? No, you may transfer the money to the General Fund once a quarter or two times a year as long as the amount is not large. All balances must be received in the Business Office by June 30.

21 Student Body Account Accounts that are considered Student Body Accounts have student involvement, however, it is impracticable to have student officers. These accounts can have various items in the account; however, the Principal and Building Administration cannot make unilateral decisions on the spending of the money without student representation. In other words the Principal no longer can have accounts in the Student Activity Funds to use for Building needs.

22 Student Body Account What do we do with field trips? This account can remain in Student Activities under the Student Body Activity Accounts. Where do we account for book sox and lock sales to the students? These accounts can remain in the student activity accounts as a Student Body Account if the account is used strictly for the purchase and sale of these items with no profit.

23 Interest Allocation How do we allocate our Interest? You can allocate your interest one of two ways: Allocate to each activity based on average amount of yearly balances. Or you may use another allocation method if appropriate. Meet with all your Student Activity Fund Officers to discuss the assignment of the money to one particular club, usually the Student Government Account. Please send your plan to the Financial Services Department for approval.

24 Quickbooks How do I know the balance in my accounts? Each Building Secretary/Bookkeeper can run a report in the Quick Books Accounting System that shows the balances. In addition, a separate report can be created to display all transactions in a particular account. How do we eliminate inactive accounts? Please accumulate all of your inactive account balances and combine the amounts. If the amount is not large in nature transfer the balance to your Student Government Account. If the balance is substantial please call the Financial Services Department for a recommendation.

25 Building Administration Monthly review & approval of trial balances. Review and approval of Budgets. Review and approval of Final Reports. Instruction to faculty advisors/student officers for all policies and procedures. Obtain and approve all Student Activity Report Cards.

26 Faculty Advisors/ Student Officers Prepare and submit Budgets to Building Administration. Prepare and submit Final Reports to Building Administration. Instruction to student officers for all policies and procedures. Obtain Student Activity Record. Obtain approval from Student Officers for all receipts and disbursements. Comply with standardization of reporting for receipts and expenditures. Comply with all Student Activity policies and procedures.

27 Bookkeepers Comply with monthly standardization of reporting to the Building Principals. No payments or deposits can be made without: Deposit records Original invoices Student Officer approvals Comply with all Student Activity policies and procedures. Comply with monthly standardization of reporting to the Business Office.

28 The Finish Line Use sound business practices. Implement procedures immediately. Faculty Sponsors need to be aware of requirements. Completion of forms is mandatory. Eliminate inactive, negative and non-student activity accounts. Please discuss with Financial Services your plan of action to eliminate these accounts.