Guidelines for Managing Activity Funds in Educational Institutions
Managing activity funds in educational institutions involves clear responsibilities for various personnel including the campus principal, bookkeeper, and club sponsor. It outlines proper procedures for collecting, disbursing, and accounting for funds, emphasizing safekeeping and adherence to policies. External donor websites are prohibited, and cash handling protocols are detailed, emphasizing daily deposits and restricted access to funds. Receipting procedures are also highlighted for proper acknowledgment of all monies received.
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Activity Fund Procedures Reminder / Update September 10th, 2015 PRESENTER: IRIS LUNA DIRECTOR OF ACCOUNTING
External Groups Page 3 External groups ( PTA, Booster Club, etc.) are NOT considered Activity Funds and are not the accounting responsibility of the Campus or District Booster clubs should not be charging to McAllen ISD accounts
Responsibility for Activity Funds Page 5 Campus Principal- Responsible for the proper collection, disbursement, and control of all Activity Fund monies to include: Providing safekeeping of Activity Fund monies Proper accounting and adherence to the policies and procedures expressed herein Adequate training and supervision of all personnel designated to administer Activity Funds Campus Bookkeeper- responsible for maintaining adequate supply of various activity fund forms, issuing and keeping record of all cash receipt books as needed, depositing funds into the bank, accounting and reporting for activity funds Club Sponsor- responsible for developing fundraising plans, monitoring the financial position of the club, reviewing the club statements, safekeeping student funds until they are deposited by the school district
Donations Page 8 External Donor websites such as Go Fund Me are not allowed to be utilized by the District.
Collections Page 12 Collect Receipt Cash Distribution form Deposit Slip Deposit Post Deposit in SunGard Money must always be locked in the campus safe with access restricted Money must be deposited on a daily basis unless the aggregate amount is less than $10. Deposits less than $10 must deposited by Friday at 8:00 AM or until the aggregate amount is greater than $10, whichever comes first. (Page 17) Money received by the bookkeeper after the normal scheduled pick-up time is to be locked in the safe and deposited on the following day. Prolonged Breaks- All monies must be deposited into the Activity Fund Bank Account on or before the last day prior to any prolonged absence ( Christmas Holidays, summer break, etc.) Postdated checks cannot be accepted from any source
Receipting Page 15 Collect Receipt Cash Distribution form Deposit Slip Deposit Post Deposit in SunGard All monies received shall be acknowledged by immediately preparing a receipt Only exceptions include concession sales and admission sales (dances, games, etc.) Secondary schools may use the Tabulation of Monies Collected from students form (AF-4) for trip collections in lieu of a receipt Pre-numbered receipts must be prepared in triplicate White- Given to person submitting money Yellow- Kept in Activity Fund File Green- retained in the receipt book Under no circumstance shall a pre-numbered receipt be altered If an error occurs, void the receipt and reissue Cash receipts are not to be pre-signed or pre-dated
Cash Distribution Form Page 17 Collect Receipt Cash Distribution form (AF-1) Deposit Slip Deposit Post Deposit in SunGard Used for tabulating cash and/or checks received Two people must count the money and sign the form Prepared in triplicate White- Club File Yellow- Sent to the bank Pink- Kept by sponsor
Deposit Slips Page 18 Collect Receipt Cash Distribution form Deposit Slip Deposit Post Deposit in SunGard Deposit slips serve as receipt for all monies deposited Person collecting is responsible for preparing deposit slip (Club Sponsor or Secretary/Bookkeeper) Deposit slips are prepared in triplicate White- Sent to the bank Yellow-Sent to the bank Pink- Kept by Club Sponsor Deposit slip must include: Date, Amount, Currency and Coin, listing of check by surname and amount, notation indicating whether it s a taxable or tax free sale
Deposit Page 18 Collect Receipt Cash Distribution form Deposit Slip Deposit Post Deposit in SunGard Club Sponsor Places Cash in plastic tamper proof bags Places white and yellow deposit slip in clear pouch located on front of plastic bag Tears off receipt number located at top of the bag Writes bag receipt number on Cash Distribution Form (Form AF-1) Seals Bag with cash inside Bookkeeper Signs Cash Distribution form under received by Endorses any Checks Places the endorsed checks and the yellow Cash Distribution form in the clear pouch where the deposit slips are Bookkeeper gives the sponsor the pink copy of the cash distribution form MISD Police will pick up plastic bags daily from bookkeeper and transport to the Bank All money received needs to be deposited
Post Deposit in SunGard Page 19 Collect Receipt Cash Distribution form Deposit Slip Deposit Post Deposit in SunGard Once the bank sends the validated deposit slip (yellow copy) the deposit can be posted in Sungard using the validation date Deposit documentation must be scanned once the deposit has been posted Deposit Documentation includes Direct Cash Form Cash Distribution Form (AF-1) Validated Deposit Slip (yellow copy) Receipts (yellow copy)
Returned Checks Page 33 The Accounting Department will process a negative deposit for the returned check A copy of each returned check will be sent to the Secretary/Bookkeeper and they should notify the club sponsor and attempt to collect The Bookkeeper/Secretary should send a Notice of Returned Check via Certified Letter along with a copy of the returned check to the issuer Name, address, phone number, check #, amount, date Issuer is given 10 business days after the date noted on the Notice of Returned Check to make restitution If after 10 business days restitution has not been made, the following documents need to be submitted to the District Attorneys office: Image of returned check (request original from Accounting) Signed return receipt from the certified letter or the unopened, unaccepted letter A copy of the Notice of Returned Check that was sent to the issuer Completed Worthless Check Affidavit Form http://www.co.hidalgo.tx.us/index.aspx?nid=1686 Secretary/Bookkeeper should keep copies of all documents in a secure file
Disbursements Page 49 Purchase orders are the sole means of disbursement Check Request Form (AF-5) must accompany all PO s from Campus Activity Funds Be as detailed as possible when stating the purpose of the check request Make sure all applicable signatures are present Student meeting minutes approving the expenditure must be attached to all PO s from Student Activity Funds (8XX) Original, detailed quotes/invoice/receipt must accompany the Check Request Form to Accounting Account statements, copies, credit card vouchers are not acceptable
Unallowable expenses from Campus Activity Funds (9XX) Page 55 Unallowable items from Campus Activity Funds (9XX) include: Purchases of any GIFT for any person or organization ( staff incentives, retirement gifts, holiday gifts, etc.) High priced awards Donations to individuals, organizations, etc. (Excludes Student Organizations) Luncheons or dinners that are not associated with District business (teacher/staff appreciation luncheons, holiday luncheons, etc.) Donated funds CANNOT be used to purchase unallowable items
Activity Fund Reimbursements Page 57 Reimbursements from Student activity Funds (8XX) are allowed Reimbursements from Campus Activity Funds (9XX) should not be taking place, other than mileage and travel. Exceptions need to be approved by the Purchasing Department Reimbursements to staff, including mileage, should be combined until the amount is at least $50 or until May
Fundraisers Page 62 Any activity undertaken for the purpose of deriving funds Includes Charitable Drives These funds should be used to benefit all students of the campus/organization and NOT individual members Clubs are limited to two fundraisers per school year Prohibited Fund raisers Raffles Door to Door sales Bingos
Fundraising Operating Procedures Page 64 Prior to Event Fundraiser Application Form (AF-2) must be completed and signed by the Principal and submitted to the bookkeeper Order merchandise During Event Club sponsor must verify inventory quantities issued-Individual Inventory Release Form (AF-11) Students must sign their individual record each time money is deposited or merchandise issued/returned Deposit all funds daily Activity funds may not be taken home or left in the classroom After Event Verify final inventory quantities and determine outstanding monies due from students. Submit completed form to the bookkeeper Secure unsold inventory, remit excess to vendor for credit as applicable Prepare and finalize the Fundrasier Revenues and Expense Form (AF-3) and submit to campus bookkeeper
Sales Tax Pages 68-73 Texas Sales Tax Statutes impose tax on the sale, lease or rental of tangible personal property. Examples include: Vending Supplies sold to students PE uniforms NHS collars HOSA scrubs Campuses and student clubs are permitted two one-day, tax free sales each calendar year Only used on approved fundraisers For Example, If you are collecting money from the cheerleading squad for camp wear, not a fundraiser, then a tax free sale is not permitted on these items and sales tax must be collected and remitted Tax free day is designated as the day the goods are delivered by the vendor or the day on which the school delivers the goods to the customers
