Purpose: To properly account for receipts and disbursements of Student Activity Funds
Procedure: By definition, Student Activity Funds are: “Funds which are owned, operated and managed by the student body under the guidance and direction of adults or a staff member for educational, recreational or cultural purposes. Although the Board of Education has the ultimate responsibility for student activity funds, in most cases, they are not school district funds.”
Student Activity Funds are accounted for in the Student Activity Funds account using the District accounting software. The Student Activities Account is audited by an independent auditing agency annually.
Student activity funds are subject to State and Federal Purchasing Laws, including (but not limited to):
- An invoice must be on file for every check written, and if the check is greater than $6,600, the vendor must sign a voucher.
- When the aggregate cost during the fiscal year is more than $3,300, two quotes must be obtained to purchase products or services.
- If any public funds are used, competitive bidding is required to purchase products or services when the aggregate cost during the fiscal year is over the bid threshold.
- Competitive bidding is no longer required When all funds are raised by or collected from students to support the purchase of student-oriented items and materials such as field trips, yearbooks, class rings, and a class gift.
Receipt of Funds:
- The Activity Advisor will collect all funds and submit them to the School Treasurer in a timely manner. The funds will be deposited into the established bank account for Student Activity Funds at PNC within two working days.
- Large balances should not be permitted to accumulate. Money should not be raised or collected unless there is a definite purpose.
- The School Treasurer will record all deposited funds in the Student Activity accounting records using the District software.
- The Student Activity Account is reconciled by the Treasurer of School Monies
Disbursement of Funds:
- All funds will be disbursed from the Business Office using the district’s accounting software and Student Activity accounts. Requisitions must be entered into the accounting system and processed with all system-required approvals.
- Each month, the Treasurer of School Monies will prepare a bank reconciliation.
Fundraising Activities:
- The primary source of funds in the Student Activities account should be from students’ dues and/or fees. Proceeds from fundraisers are another source. The Board of Education will limit the solicitation of funds by and from the pupils of this district to protect pupils from unnecessary pressures and the instructional program from disruption. “Pupil fundraising” means soliciting and collecting money by pupils, on or off school premises, for any purpose associated directly or indirectly with the school district or under circumstances in which the solicitors are identified as pupils of this district.
- Pupils may solicit and collect money on behalf of approved school organizations, provided the Superintendent or his/her designee has approved the fundraising. Door-to-door solicitation by students is prohibited. In no event shall fundraising be contingent upon the student’s performance or outcome. The Board discourages incentives or other awards based on the funds raised by any student or group. In no event shall any outside fundraiser be authorized to participate in any solicitation or any other fundraising activity.
Interest
- Interest earned on accounts, small donations (under $500), consolidated funds from inactive accounts and other miscellaneous revenue may be accumulated in a sub-account for use at the discretion of the Principal for students.
Accounting procedures for Student Activities and Scholarships are located in the Business Office Manual Library under Staff Links on the District website, mhrd.org.