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SCHOOL ACTIVITY FUNDS Stacey Ashy, School Accounting Auditor & Internal Control Officer Stephanie LaBorde, School Funds Accountant Claudia Wallace, School.

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Presentation on theme: "SCHOOL ACTIVITY FUNDS Stacey Ashy, School Accounting Auditor & Internal Control Officer Stephanie LaBorde, School Funds Accountant Claudia Wallace, School."— Presentation transcript:

1 SCHOOL ACTIVITY FUNDS Stacey Ashy, School Accounting Auditor & Internal Control Officer Stephanie LaBorde, School Funds Accountant Claudia Wallace, School Funds Clerk

2 Audit Evaluation-Purpose  Developed to make audit reporting objective and easier to understand.  Gives school administration & audit committee an easy to understand, objective, and clear idea of the school’s accounting practices.  Gives principal key focal areas for improvement and the ability to easily track progress from audit to audit.

3 Audit Evaluation-Overview  Audits will be evaluated based on seven sections  Disbursements  Voided Checks  Receipts/Deposits  Class Fees  Employee Appreciation & Courtesy Accounts  Fundraisers  Athletic Events  Each section is tested based on guidelines pertaining to that section and will receive its individual rating.  The ratings are totaled then averaged to give the overall audit rating.

4 Audit Evaluation-Disbursement

5 Audit Evaluation-Scale ScaleValueRating 100-934Excellent 92-853Good 84-752Fair 74-671Unacceptable 66-00Non-Compliance

6 Audit Evaluation-Summary

7 Audit Evaluation  Any principal that was audited in the 2010-2011 school year can request in writing to receive their rating.  This rating is to be used for informational purposes only.

8 Business Meal-Page 14  The following policies relate to expenditures by schools for business meals for administrators, teachers, or LPSS personnel.  Business meals are limited to 2 meals per year funded by the school’s general fund  Meals must receive prior WRITTEN approval from the principal  Meals cannot exceed $10/employee  School accounting should be sent the meeting’s agenda (agenda must indicate a working lunch or an abbreviated lunch break), copy of sign-in sheet, and details of the meal’s expenses immediately following the business meal. Any meals in excess of the 2 business meals must be funded through the Courtesy Account or Employee Appreciation Account and are subject to those guidelines.

9 Class Fee Approval Form

10  Teacher must keep a copy with their financials.  Secretary/Bookkeeper must keep copy with school’s financials.  Parents must be notified in advance and in writing of the DETAILED use of the supply fee being collected.

11 Employee Appreciation Notification Form

12 Employee Appreciation  All deposits to the Employee Appreciation Account should be supported by a deposit slip accompanied by the proper documentation. Examples of proper documentation shall include:  Fundraiser-a copy of the notification to parents and/or students of how funds will be used;  Donation-a copy of the letter from the donor which specifies that the funds are to be used for employee appreciation expenditures.  Donation letters should be sent to School Accounting with the monthly packets.  Detailed notes should be provided in EPES.  Documentation for all expenditures should list the name of each individual for whom a meal or allowable gift is purchased. (Exception: If most or all of the employee groups are included, then a listing of the employee group will satisfy this requirement.)

13 Fundraisers

14

15 NSF Clearing Account  Page 8 of guidelines  ALL schools must have a separate activity account set up for NSF checks.  NSF checks should be posted to the NSF Account by journal adjustment.  Issuer’s Last name, first name-check #  Also good idea to include the activity account in your description  If check is made good, simply do a deposit to NSF Account.  Please note the issuer’s last name, first name-check # on the deposit description.  If check is not made good after 45 days, charge should be covered by activity account the check was originally deposited to.  Detailed breakdown of NSF balance should be provided with monthly packet to School Accounting.

16 Beginning of Year  The following documents must be completed with a copy forwarded to School Accounting  SAF #8: Principal/Assistant Principal/Secretary/Bookkeeper Compliance Acknowledgment Form  SAF #9: Sponsor/Teacher Responsibility Compliance Acknowledgment Form  Chart of Accounts-signed by all sponsors  SAF #12: Class Fee Approval Form (school records ONLY)

17 Questions  When should the schools tag items purchased with school funds?  It is recommended that all items should be tagged and tracked by an inventory/fixed asset custodian.  Is a tag required or can a permanent marker be used to reflect the property of the school?  A tag should always be used, but is a good idea to duplicate the number with a permanent marker in case the tag is removed.  Can the schools pay from faxed or email invoices?  Yes. Schools should not pay based on statement or estimates. As per your guidelines on pg 9 “No expenditures may be made on the basis of vendor statements. Original invoices are required for all expenditures when available.”

18 Questions  How should employees performing services outside their job description (e.g. teacher acting as a DJ after hours for student dance) be paid?  All employees payments must follow the Supplemental Pay Schedule as found on the Human Resource webpage.


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