1. Activity Fund Training Section 5 – Business Office Reference Guide
Miranda MacDonald

2. Purpose of Activity Funds
To promote the general welfare, education and morale of the student body
To account for the financial operations of school sponsored student organizations
Teachers or an administrator must be appointed to all activity accounts

3. Definition Campus Activity Fund – Fund 192 Funds raised at the campus
Used to promote the welfare of the school
Educational program that duplicates, supports or enriches the mission of the District General Fund.
Must be budgeted
Are subject to the overall direction of the Board in accordance with TEA’s Financial Accounting and Reporting module

4. Definition Student Activity Fund – Fund 865
Agency funds received and held in trust by the District for student organizations or clubs
To be expended in accordance with direction from the officers of the organization
Resources are accumulated from school-approved fund-raising activities
Funds generated shall be disbursed only for that organization

5. Responsibility for Activity Funds
Principal is responsible for:
proper collection of school activity monies
disbursement of school activity monies
control of all school activity monies
Responsibility includes:
Provide safekeeping of monies
Proper accounting and administration of fund transactions
Expenditure of funds in compliance will regulatory agencies
Adequate training and supervision of all personnel designated to administer activity funds

6. Audit Activity funds may be audited or reviewed by:
Internal auditor
Finance Office staff
Documents collected from:
Cashier or Secretary
Activity fund sponsor
Retention of Records:
Up to seven prior years

7. Cash Handling Overview

8. Maintain a positive cash balance in the account
In MUNIS negative is positive

9. All money collected will be counted
Dual control – 2 people
Sponsor and student officer
Sponsor and Cashier/Secretary
All money will be recorded with proper documentation
Tools provided by IISD:
Miscellaneous Cash Collection Form
Tabulation of Monies Collected Form
Receipt Books
Do you have to use these?
No – Just make sure there is documentation supporting your claim

10. Cash must be turned into the office daily
Do not lock the money in your classroom
Do not send a student or other person to deliver the money to the office
Figure out the Cashier’s/Secretary’s schedule
Cash must be turned into the office in the same form in which is was received
A personal check cannot be substituted for the cash collected
Post dated checks shall not be accepted by the school
Driver’s license and phone number should be obtained for the person signing the check

11. Do not pay for expenditures with un- deposited money
Money collected after business hours must be counted, recorded and deposited in campus safe

12. Returned Checks
Checksmart handles the District’s insufficient fund checks
NSF fee is $32.48 per check
Attempts collection for 60 days after which it will be prepared for prosecution
Account is debited the amount of the returned check
Verify cash balance to make sure you are not negative

13. A spreadsheet of activity will be maintained for all student activity club accounts
Beginning Balance as of Sept 1
Deposits = Credits
Expenditures = Debits
Description
Provide a description of what’s being deposited
Do not put “Cash Receipts Journal”
Adjustments = General Journal Entries
Don’t use adjustments column
Enter adjustment as debit or credit
Spreadsheets must be reconciled and turned into the Accounting Supervisor for review
Failure to submit a reconciled spreadsheet will result in account becoming inactive
No activity can take place

15. All sponsor records must be kept by the sponsor and be available for audit for a period of 7 years
What records do I keep?
Receipts received from the cashier
Copy for the form turned into the cashier
Verify forms match receipts
Copies of invoices – original is with AP
Copies of Purchase Orders
Copies of fund raising applications
Minutes of the organization’s meetings
Financial reports for the organization
Obtained from the secretary/cashier
Should be reviewed at least every 6 weeks
Roster of Club Officers
SPREADSHEET

16. All purchases made by the activity club must:
Have an original student signature turned in to AP
Be made by approved district payments
District check
Cash Advance
Travel Advance
Approved by principal in advance

17. All fund raising activities:
Must be approved in advance by the principal
Require a fund raising form to be filled out before the activity begins
At the completion of fund raising:
Complete the Fundraiser Reconciliation Recap
Submit recap to Cashier/Secretary for verification
Within 1 month
Items purchased for resale
Keep accurate records:
Inventory
Distribution Lists – yearbook, t-shirt presales, etc
Daily collections and deposits

18. If sponsor leaves the school/district or is no longer the sponsor:
Turn in all records to the VP in charge of fundraising
If no records are maintained/turned in
MUNIS balance is correct

19. IISD is a Dr Pepper district
Other products will not be reimbursed
Obtain product list from Cashier/Secretary
Business Office Reference Guide Section 7

20. Purchasing Campus Activity Fund – Fund 192
Must use Approved Vendor m
Not on list? Contact Purchasing
Student Activity Fund – Fund 865
Use of approved Vendor not required
Requires an original student officer signature

21. Time Line Purchase Order Cut a check One week
Cashier receives request till a Purchase Order is printed at the campus
Cut a check
Due in the Business Office by 4pm Monday
Check will be distributed on Friday
Travel or Cash Advance require 2 weeks
Each campus has deadlines

22. Travel with Students
Requires approval by Assistant Superintendent of Teaching & Learning
4 weeks before travel
Use of student club funds requires students to be traveling

23. Sales Tax
Items purchased by a public school for the school’s own use qualify for an exemption from sales tax if the items purchased relate to the education process
Does not mean all items purchased by the school district are sales tax exempt
Items purchased that become the personal property of the student, employee, parent, etc are taxable

24. Tax Exempt Sales
Food products, including candy and soft drinks, which are:
Sold or served during the regular school day
Sold by a person under 19 who is a member of an organization devoted to education
Student club memberships
Car wash
Parking permits

25. Taxable Sales T-shirts
School-purchased supplies sold directly to students
Yearbooks
Football programs
School Rings
Books sold to students at book fair

26. One-Day Tax-Free Sales
Per calendar year (January to December)
Each campus
Each student club account
Noted on fund raising form

27. Contact Info
Miranda MacDonald
5407
Available for meetings to review accounts
Go through your Cashier/Secretary