Acknowledgements. Halifax Regional School Board. Hamilton-Wentworth District School Board. South Shore Regional School Board

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1 October 2010 The Chignecto-Central Regional School Board is accountable to the staff, students, parents, the school community, and to the Nova Scotia Department of Education for the use of public funds generated at the school level. Funds which are raised at the school level to enhance the development of educational programs and to support school initiatives are referred to as school-based funds. These funds are under the direction and control of the school principal, but are part of the Board s financial records and must be included in the Board s annual audited financial statements. To maintain a high standard of accountability and to ensure consistency in the preparation of its annual financial statements, the Board requires schools to use generally accepted accounting practices to manage all funds collected.

2 Acknowledgements This handbook was developed by the Financial Services Department of the Chignecto-Central Regional School Board. We would like to thank the following organizations for sharing their handbooks on school-based funds. Halifax Regional School Board Hamilton-Wentworth District School Board South Shore Regional School Board October 2010

3 1.Introduction Objectives This Handbook was created and published to: Provide school staff and volunteers guidance and protection by outlining specific procedures for the administering, recording and reporting of school-based funds; Meet the public s expectations and validate the public s trust regarding the stewardship of school-based funds; Simplify procedures and provide consistency and standardization for handling the various types of school-based funds; and Assist schools to meet the Board s requirement for the financial accountability of schoolbased funds. Using this Handbook Recognizing the time constraints which exist at all schools, the procedures in this Handbook are designed to be as simple as possible. They establish the minimum requirements which should be followed while still ensuring that schools remain accountable for the funds they handle. It is important to read the whole Handbook in order to understand how all parts support the whole. A particular section is not exclusive and should not be read in isolation from another section. These procedures do not supersede Board policies and procedures currently in place. 11 October

4 2. Roles and Responsibilities The Board has a responsibility to ensure that all school-based funds are collected in accordance with Board policies and procedures. This responsibility includes ensuring that all funds are adequately protected, that they are controlled through proper accounting procedures, and that accountability for funds is maintained. Objective To clearly define the roles and responsibilities of individuals involved in the handling of school-based funds. Roles & Responsibilities of Financial Services Establish procedures for school-based funds. Provide regular professional development to administrative staff in schools. Ensure schools have the Board s approved accounting software for administering schoolbased funds. Conduct School Based Funds (SBF) reviews of school-based funds at all schools over a fiveyear cycle or when there is a change of principal, and/or administrative assistant at a school. Follow up on the recommendations for schools where SBF reviews have been conducted. Receive and maintain a central file of yearly financial reports from schools. Ensure that a school or any individual associated with a school does not enter into contracts in the name of the Board without prior consent. 22 October

5 2. Roles and Responsibilities Roles & Responsibilities of the Principal As the Principal is accountable for all funds generated in the school, he/she must: Ensure effective accounting procedures, practices and internal controls are implemented in accordance with the Board s School-Based Funds Handbook. Designate a staff person or persons to be responsible for cash receipts, disbursements, record-keeping, banking and monthly financial reports. Where possible, these duties should be allocated to more than one individual. Ensure that processes are in place to adequately control funds within the school, including security over cash and accounting records. Communicate responsibilities to staff members and volunteers who collect and/or manage funds in the school s name. Ensure that funds collected in the school s name by staff members and volunteers are deposited intact in the approved school bank account, at least weekly. Act as one of the approved signing officers on the school s bank account. Review and sign each Request for School Cheque form as approval of payment. Be one of the two signing officers on each cheque or appoint the vice-principal as designate, in his/her absence. Ensure cheques are never pre-signed. Review and sign/initial each page of the monthly Bank Statements and Reconciliation Report. Review and sign/initial each page of the Balance Sheet, Income Statement and the Net Income Detail Report on a monthly basis. Ensure verification that the report has been received is kept on file. 33 October

6 2. Roles and Responsibilities Roles & Responsibilities of the Principal Ensure that any individual associated with the school does not enter into contracts in the name of the school without the prior written consent. Notify the school s Business Manager immediately if funds appear to be lost or stolen. 44 October

7 2. Roles and Responsibilities Roles and Responsibilities of Administrative Assistant Implement the procedures in the School-Based Funds Handbook, as directed by the Principal. Act as one of the approved signing officers on the school bank account. Count and verify funds received for deposit. Issue receipts for all funds received: in a timely manner Ensure funds are stored on site in a designated locked and secure location prior to being deposited in the bank. Prepare deposits for the bank and make certain deposits are taken to the bank on a regular basis, at least weekly. Prepare cheques, ensuring all requests for payment are properly supported (see pg. 27) and signed by the Principal, prior to the cheque being issued. Ensure Principal or Vice-Principal is one of the signing officers on all cheques. If a cheque is payable to any one of the signing officers, the cheque must be signed by two other signing officers. Ensure cheques are not pre-signed. Record transactions in QuickBooks on a regular basis (no less than weekly). Backup the school s QuickBooks file to the server weekly. Complete the bank reconciliation by the 30 th of the following month. Print monthly financial reports (see pg. 39) once the bank account is reconciled. Provide a Net Income Detail Report each month for active special interest groups. Submit the Payroll Taxable Benefits form (for employees) and the T4A Information Students and Non-employees form (see Appendix B) to your Business Manager when cheques are issued 55 October

8 2. Roles and Responsibilities Roles & Responsibilities of the Administrative Assistant Assist during a SBF review by providing information and supporting documentation. Participate in Board sponsored professional development. Inform the Principal of any deviation from the procedures outlined in this Handbook. 66 October

9 2. Roles and Responsibilities Roles and Responsibilities of Staff Members and Volunteers Directly Involved With School-Based Funds: Where practical, students should make payments directly to the Administrative Assistant. When staff members and volunteers collect money, they must ensure the funds are delivered intact (refer to Section Four, page 22 for a definition of funds delivered in tact) to the Administrative Assistant, with a completed School Deposit Form, (See Appendix B). When receipts to individuals are required, a list indicating who is to receive receipts, the amount paid, and the purpose of the funds must be included. Prior to a major fundraising activity (estimated profit of $100 or more), complete a Fundraising Proposal form and submit to the Principal for approval. Once an approved fundraising campaign has been finished, i.e. yearbooks, school clothing, class trip, etc., complete a Fundraising Report form. Obtain a Net Income Detail Report from the office and attach it to the completed form. All supporting documents such as order forms, yearbook receipt books, master tally sheets, invoicing and correspondence to and from company must be turned into the office as these are require for school reviews. Obtain a receipt or receipts for any funds turned into the Administrative Assistant, as verification that the funds were received. Distribute individual receipts as required. In conjunction with the Principal, ensure that the sources and uses of school-based funds comply with Board policies. When requesting payment to a company/individual or for reimbursement of expenses incurred, complete a Request for School Cheque form, (See Appendix B), attach the supporting documents and submit promptly to the office. Payments cannot be made from company statements, debit or visa slips. Submit receipts or invoices. Receipts should not include any personal items. 77 October

10 2. Roles and Responsibilities Roles and Responsibilities of Staff Members and Volunteers Directly Involved With School- Based Funds: Monthly, obtain a Net Income Detail Report from the Administrative Assistant. Sign the Monthly Transaction Reports form to verify that you have received your monthly report (See Appendix B). Review the report to be certain financial activities are recorded correctly. Report any discrepancy to the Administrative Assistant. If discrepancies continue, address the issue with the Principal. When requesting a transfer of funds to another group/committee, complete a Request for Transfer of Funds form, (See Appendix B). A Financial volunteer package must be given to a Team Coach, Volunteer, or Club Advisor, which includes the following forms: School Deposit Form (front & back) Fundraising Proposal Fundraising Report Request for School Cheque Request for Transfer of funds Financial Information for our Team Coaches/Volunteers/Club Advisors. File available on Board Website. 88 October

11 3. Sources and Uses of School-Based Funds School-based funds can be generated from a number of different sources and used in a number of different ways. The guidelines in this Handbook provide a broad overview of the acceptable sources and uses of school-based funds. This applies to all funds received, raised or collected for the school other than funds provided through the approved budget of the Board. Objectives To identify and categorize the various sources of school-based funds. To provide generally acceptable uses of these funds and examples of unacceptable uses of these funds. August October

12 3. Sources and Uses of School-Based Funds Sources of School-Based Funds School-based fees for services, athletics, student agendas, etc. Generally, schools collect a fee at the beginning of the school year to cover the costs related to such things as class supplies, use of lockers, sports equipment and uniforms, and for the purchase of locks, agendas, ID cards, yearbooks, etc. Often these are referred to as student fees. In some cases, these fees may be reimbursed at a later date, such as deposits on books or sports uniforms. Funds received through contracts and service agreements When approved by the Board, schools may raise funds from activities and agreements involving cafeteria services, vending machines, school picture rebates, etc. Any profits generated are retained at the school. Any contracts entered into by the school must conform to the Board s purchasing policy. Funds donated to schools This category deals strictly with donations made to a particular school either for a specific purpose or for general use. Such donations may be eligible for a charitable donation tax receipt, as per Board Policy #B-10 Donations and Gifts. School must contact business manager prior to accepting a donation. School generated fundraising for charities and/or specific events or initiatives In this category, the school, the local School Advisory Council, or the Students Council may hold special fundraising drives to solicit and gather money or other gifts-in-kind for school-based activities. These activities may be to help a charity (such as the Terry Fox Run), to support a specific initiative in the school (such as the purchase of computers), or to provide funds to support a specific event (such as a school trip). Funds are generally raised from school alumni, parents, friends, neighbors, and private businesses or organizations October

13 3. Sources and Uses of School-Based Funds Food and Nutrition in Schools Refer to CCRSB HPS web site for guidelines. Often, fundraising involves money being generated through the sale of a product of some kind, also known as product fundraising, rather than direct solicitations. Girl Guides are well-known for selling cookies in order to generate funds. Schools have traditionally sold chocolate bars, but, due to the implementation of healthy eating guidelines, are now selling other products to generate funds, such as magazines, plants and wreaths. The school principal must authorize all fundraising initiatives prior to the activity being held. Examples of other fundraising initiatives at schools include: Group trips Fun fairs (spring flings, fall fiestas) Games of chance (lotteries, raffles, bingos, nevadas, etc.) Magazine campaigns Plant sales School clothing sales (if for profit) School dances School plays and concerts Variety concerts Walk-a-thons, dance-a-thons, swim-a-thons, read-a-thons, rock-a-thons, etc. Wreath sales Canteen Take out suppers 1111 October

14 3. Sources and Uses of School-Based Funds General Guidelines 1. Deficits are not permitted beyond the school year end without the written approval from the Family of Schools Supervisor (FoSS). 2. When an activity is of an ongoing nature, i.e., Student Council, surplus amounts at the end of one school year may be carried forward. 3. To ensure all major fundraising activities (estimated profit of $100 or more) taking place in the name of the school are authorized, all groups wishing to hold a fundraiser are required to submit a Fundraising Proposal form to the Principal for approval prior to committing to undertake the activity. (See Appendix B.) 4. The accounting records for fundraising should track each activity separately. 5. Once a major fundraising activity (estimated profit of $100 or more) is finished, the group is required to submit a completed Fundraising Report form to the office detailing the results of the activity. (See Appendix B.) When a major fundraising activity is undertaken by the school, not a particular group, the Administrative Assistant/Principal is required to complete the Fundraising Report form. A copy of the Net Income Detail Report for the fundraising activity must be attached to the report. All supporting documents such as order forms, yearbook receipt books, master tally sheets, invoicing, and correspondence to and from company, must be turned into the office as these are required for school reviews October

15 3. Sources and Uses of School-Based Acceptable Uses: All purchases made using school-based funds must comply with Board policies and procedures. Funds raised for a specific purpose must be used for the intended purpose. For example, funds raised for graduation must be used for expenses incurred for graduation. Funds raised for a general purpose with no specific intent must be used for school related activities, at the discretion of the school Principal. Unacceptable Uses: Goods or services from employees. All payments for services, even those outside the normal course of one s duties, must be paid through the Financial Services Department as these disbursements may require the Board to issue a T4 slip. Employee expense reimbursements, as a result of their position (conference, circuit, etc) must be processed through the Financial Services Department. Travel as a result of an advisory role to a school group (For example coaching a team sport) can be paid from School Based Funds as long as it is NOT the current Board Travel Rate. A Flat Rate must be converted into a rate per kilometer. This must not exceed the Board Travel Rate. Payments for items not purchased in accordance with the Board s Bulk Tender process Payments in advance to individuals are not acceptable. Payments for items not purchased in accordance with the Board s Bulk Tender process are not acceptable. Under no circumstances are school funds to be used for the personal benefit or gain of administration or staff. Investments other than those permitted by the Board, (See Investments on Page 20). Payments in advance to individuals are not acceptable October

16 3. Sources and Uses of School-Based Payments for Professional Development expenses that have been approved for reimbursement from PD Funds (NSGEU and NSTU) are not to be paid from school funds October

17 3. Sources and Uses of School-Based Funds Fundraising Proposals and Reports Clarification for common Fundraising Activities: Charity: If the activity is for charity (money in/money out), then no forms are required. The income is not classified in QuickBooks as a fundraiser class. Examples: hat day, wake-a-thon, rock-a-thon, etc. Recyclables: No forms required, and the income is not classified in QuickBooks as a fundraiser. If it s a bottle drive, then this is considered a fundraiser and the forms are to be filled out, and classified in QuickBooks. On Going Fundraisers: If the activity is ongoing during the school term (for example dances), and the profit is $100 or more, only one fundraising proposal and Report is required for the school term. This would also apply to any Bake Sales (per Food Guidelines) Sport Tournaments: The door admission and canteen are considered Fundraisers, and can be combined as one amount on the Office Deposit form. If there are canteen-related expenses, they should be paid by way of school cheque (not out of the cash). There should be a proposal and report on file for each tournament. The registration fee for a tournament is not considered a fundraiser; however, receipts need to be issued by the office back to the individual schools (not one receipt to the coach). Other: If the fundraiser is for the school in general, then the office is responsible for the completion of the appropriate forms. If, for a particular committee, group, team, then the teacher, coach or volunteer is responsible. The office need to inform these individuals on the procedure, provide the forms, and follow up on receipt of same October

18 3. Sources and Uses of School-Based Funds Fundraising Proposals and Reports Upon completion of any fundraiser, the Net Income Detail Report from QuickBooks must be printed for the individual filing the final report. These reports are memorized in QuickBooks. Inform your Business Manager to set up any new reports. If the applicable forms are not being turned in to the office by the volunteers, the Principal must be informed. Your Business Manager is there for support and re-enforcement if needed. For additional Fundraising information please refer to Sections 2, 3, 5, and October

19 3. Sources and Uses of School-Based Funds Gift Cards, Taxable Benefit and T4A Forms Gift Cards Gift cards are like giving away cash. Schools are required to attach the recipient names to the request for school cheque form and have the individual sign that they received the gift card. The individual signatures are required as proof of receipt. Students should be issued a cheque and not given cash unless it is the only way for student to receive payment. The student should sign for the cash at the time of receiving it. Taxable Benefit A taxable Benefit form must be completed and forwarded immediately to your Business Manager each time a cheque or gift card is issued to a Board Employee for a gift or award. Canada Revenue Agency stipulates that gift cards received by an employee from the employer, are considered cash, and therefore must be reported on the employees T October

20 3. Sources and Uses of School-Based Funds T4A Form A T4A form must be completed and forwarded immediately each time a cheque or gift card is issued to an individual (non-employee) who receives payment for $500 or more in one calendar year for such items as scholarships, bursaries, honorariums, DJ s, and School presentations such as drumming. Also, complete T4A form for individuals who have received less than $500 and may receive further payment during the year or payment from other schools within the board. If in doubt, complete the form and forward to your Business Manager. Current addresses and SIN are required by the Canada Revenue Agency October

21 4. Banking, Receipts and Disbursements All schools must have only one operating bank account for all school-based funds. It is essential that controls be in place to assist in the management of these funds, and that school administrator s support and follow procedures established by the Board. Deviation from the procedures could leave the school vulnerable to potential problems, such as waste, carelessness, inefficiency and possible fraud. Objectives To standardize banking practices while: Ensuring security of school-based funds; Providing protection for those responsible for handling the funds; and Maintaining adequate records. Establishing a Bank Account A school must have only one operating bank account in the name of the school for all schoolbased funds. The operating account must require two signatures on all cheques. It is acceptable to have up to four signing officers, one of whom must be the Principal. Internet banking and school debit cards are not permitted. Cheques are to be pre-numbered, have two signature lines, and provide a detachable record or cheque stub to record the payee, the date, and the amount. Account statements must be issued by the bank on a monthly basis along with cancelled or image-based cheques. The cut-off date on the bank statement is to be the last day of the month October

22 4. Banking, Receipts and Disbursements Reconciling the Bank Statement Reconciliation of the school s bank account must be completed by the 30 th of the following month and both the detail and summary reconciliation reports printed. Each page of the Bank Statement and Bank Reconciliation Reports must be signed/initialed by the Principal. Petty Cash Fund A school may have a cash box with a small amount of cash for emergency payments. The cash box must be kept in a designated, locked and secure location with limited access. A cheque ($100 max.) can be made payable to the school from the school s bank account to set up the petty cash fund. Each transaction must be supported by a receipt or petty cash voucher. The sum of the receipts and cash on hand should always equal the initial amount, (See Appendix B). Any discrepancy must be reported immediately to the Principal. Investments In consultation with the school s Business Manager, a school may invest excess funds in the name of the school in a savings instrument insured by the Canada Deposit Insurance Corporation (CDIC). All interest must be reported as revenue and, as a result, become part of school funds October

23 4. Banking, Receipts and Disbursements Receipts Where practical, students, staff and volunteers should make payments directly to the office: 1. Money will be counted by the Administrative Assistant when received. A receipt will be issued to the individual making the payment. within 2. The total of all the receipts must match the total of the Bank Deposit Slip. 3. A copy of the POS Deposit Receipt or POS Sales Report is to be attached as source documents for the applicable bank deposit October

24 4. Banking, Receipts and Disbursements Receipts Where staff and volunteers collect funds from students for delivery to the office: 1. Funds collected are to be stored on-site in a designated locked and secure location, which has limited access prior to being turned into the office for deposit. If all monies are not received by the end of the day, the amount collected is to be counted and turned into the office for safekeeping overnight. 2. All money collected is to be deposited intact, which means: a. Funds collected are not to be deposited into a personal bank account and then a personal cheque written to the school for the amount collected; and b. Expenditures are not to be paid from the cash collected. All funds are to be turned into the school office for deposit and a Request for School Cheque form completed for any expenses to be paid, i.e., take-out-suppers, BBQ, etc. 3. All funds are to be supported by a completed School Deposit Form. 4. A list indicating who is to receive receipts, the amount paid and the purpose of the funds must be included with the deposit. 5. Money must be counted and the School Deposit Form signed by the Administrative Assistant to verify the amount received. Ensure receipt(s) are issued within one month of receiving funds October

25 4. Banking, Receipts and Disbursements Issuing of receipts when individual payments are not made directly to the office: 1. All money (both cash and cheques) received at the office must be receipted through POS Receipts in a timely manner, at least within one month of receiving the funds. (See Appendix D). 2. Receipts must be issued to students, staff or volunteers, etc., or to an individual or company from outside the school. Receipt Numbers are to be recorded on the school Deposit Form. Examples: A. To individuals When the total on a School Deposit Form is made up of funds received from students, parents, staff members, etc. who each paid $10 or more, receipts must be issued to these individuals, e.g., John Smith, $40.00, Yearbook. Receipts are given to the individual handing in the deposit for distribution. Exception - If the total deposit is made up of funds collected for a school fundraiser it is acceptable to issue one receipt for the total of the deposit to the person handing in the funds and attach the copy to the applicable School Deposit Form. B To a classroom teacher, coach, advisor, etc. When a deposit is made up of funds received from students, parents, etc. who each paid less than ten dollars, a receipt is issued to the person who handed in the deposit C. To a company or individual from outside the school. Receipts must be issued for all other funds received by a school. Receipts to all CCRSB schools must be sent to the applicable school October

26 4. Banking, Receipts and Disbursements NSF Cheques Occasionally cheques are returned to the school from the bank as NSF (non-sufficient funds). When this happens, the group/committee that turned in the funds must be notified so they will be aware of the shortfall in their funds. An asset account has been set up to track all NSF cheques. This account should be reviewed monthly to ensure an attempt is being made to collect the funds. See page 58 for instructions on recording the NSF cheque and fee in the QuickBooks Register. The receipt issued for the original payment will not be voided as this balances to the deposit made. When the funds are collected to cover the NSF cheque, a receipt will be issued. The product selected will be NSF cheque. This will ensure the receipt total aggress to the deposit total October

27 4. Banking, Receipts and Disbursements Preparing the Bank Deposit All funds should be deposited into the bank daily unless there is a designated, secure location on-site, in which case, funds must be deposited at least weekly. Where possible, money should be counted in the presence of two individuals. All money collected is to be deposited intact. All cheques are to be listed on the Bank Deposit Slip and totaled. All cash and coin are to be entered and totalled. All Deposits are not to be left in schools during breaks. (summer, March or Christmas) All School Deposit Forms, POS deposit report and POS Sales Report which make up the total bank deposit are to be stapled/clipped together. Deposits should be filed by date. EFT and Direct Deposits The process for entering EFT s and other direct deposits in your QuickBooks Register is as follows: Payments received should be entered as a Deposit) Banking Make Deposits) in QuickBooks. The memo field should indicate the source of the payment The funds should be allocated to applicable accounts (i.e. CCRSB Reimbursement, Student Fees, etc.) Receipts are not required for EFT payment or other direct deposits October

28 4. Banking, Receipts and Disbursements Request for Payment Invoices - All invoices must be reviewed for accuracy and attached to a completed Request for School Cheque form and promptly submitted to the office for payment. Paid Receipts - Complete a Request for School Cheque form, attach original paid receipts and submit to the office Administrative Assistant. Other - When requesting payment without supporting documentation, i.e., referee, complete a Request for School Cheque form and provide an explanation for the request October

29 4. Banking, Receipts and Disbursements Processing Cheques 1. All payments must be made by cheque. 2. All school liabilities should be paid promptly. 3. The Request for School Cheque form, supported by the original documentation, Must be signed by the Principal prior to payment being made. 4. When a cheque is issued, the invoice/receipt is to be stamped paid and the cheque number recorded on the invoice/receipt. When issuing a cheque for Scholastic Book orders, a copy of the School Deposit Form must be attached to the Request for School Cheque form as support documentation. 5. Payments are not to be made from a company statement, debit slips or Visa slips. Obtain a copy of the invoice/receipt. 6. Cheques are not to be made payable to cash. 7. Payments in advance to individuals are not acceptable. 8. Cheques are not to be pre-signed. 9. Signature stamps are unacceptable on cheques or any other form as an authorizing signature. 10. Unused cheques are to be stored in a designated, secure location to prevent loss or theft. 11. Voided cheques must be retained to ensure all cheques are accounted for. The signature lines are to be removed from voided cheques. 12. All cheque vouchers are to be filed in numerical order. Supporting documentation is to be attached, i.e., Invoice and Request for School Cheque form October

30 5. Accounting System - QuickBooks Using a software accounting system reduces the time and effort required to keep accurate records and to produce financial reports. The Board has chosen QuickBooks as the standard computerized accounting software to be used by all schools to track school-based funds. Objectives To identify the minimum information that is to be recorded in the school s accounting system while: Safeguarding school-based funds; Protecting those responsible for handling and recording the money; Providing detailed records on the inflow and outflow of money; and Maintaining an up-to-date bank balance and ensuring accurate cash management. Procedures It is important that the person assigned to enter data into QuickBooks follows the established procedures. This will ensure the money is handled appropriately, that staff are protected, and that reports can be relied upon for accurate account balances. Backups Ensure that the QuickBooks file is backed up to the Board s server at least weekly to secure the data and comply with technology policies and procedures as established by the Board. See Appendix A for QuickBooks Instructions October

31 6. Harmonized Sales Tax (HST) The opportunity to collect a Harmonized Sales Tax (HST) rebate is a financial benefit for schools. When the HST paid on all disbursements is broken out and recorded, schools can apply for reimbursement of 68% of all eligible HST paid. This rebate can mean a significant amount of income for schools. The Board is registered as a public institution and as a registered charitable organization. This gives it the broadest range of HST exemptions. The Board has also given each of its schools a small supplier branch designation. This exempts schools with taxable sales of less than $50,000 from collecting HST on most sales and entitles schools to a rebate of 68% of the HST on most purchases (100% of GST on books). Objectives To simplify and standardize the process of tracking and recovering HST while: Complying with federal and provincial legislation; Complying with the Board s purchasing policies and guidelines; Minimizing the chance of HST liabilities in the event of a government audit; and Maximizing HST rebates for schools. There are two aspects of HST that the Board and each school must address. These are: 1. Determining when to charge HST on money received (most schools will not have to charge HST). 2. Recovering HST paid on purchases made (68% rebate on most purchases; 100% of GST on books) October

32 6. Harmonized Sales Tax (HST) Taxable Sales Less than $50,000 The board generally assumes that each school will have less than $50,000 in taxable sales in the previous twelve months and therefore not have to collect HST on most sales. To be eligible for a rebate, it is necessary to clearly identify, from each invoice/receipt, the amount of tax rebate being claimed on each purchase made through school-based funds. QuickBooks accounting software helps to simplify the process of tracking and recovering HST. A report, providing all the necessary information, can be printed quickly when the information is recorded accurately in QuickBooks, To demonstrate to the Canada Revenue Agency (CRA) that an item is being sold only to cover costs, the school must record all income and expenses for each activity in a way that proves there is no profit. If there is a profit, then the entire revenue, not just the profit, must be included in the HST calculation. If there are different sources of revenue for an activity, i.e., yearbook income that includes advertising or donations, it is necessary to clearly indicate the source of the revenue when recording it. Taxable Sales Greater than $50,000 If taxable sales are more than $50,000 in any consecutive 12-month period, the school will have to charge HST on all taxable sales, beginning in the next quarter. If you are concerned that the taxable sales for your school may be more than $50,000 in any consecutive 12-month period, please contact your Business Manager, who will work with you to determine taxable sales. The Taxable Sales Worksheet, (See Appendix B), can be used for determining taxable sales October

33 6. Harmonized Sales Tax (HST) Recording HST Transactions Detailed records must be kept in QuickBooks to enable a school s Business Manager to print the necessary reports when applying for an HST rebate. Claims will not be submitted if the necessary information is not recorded. Examples: 1. When a cheque is payable to a business, enter a brief description of what was purchased in the Splits window in the Memo column, i.e., team uniforms, class supplies, music for school dance, etc. 2. When a cheque is payable to an individual as reimbursement for goods purchased, in the Splits window in the Memo column, enter the name of the business where the purchase was made and a brief description of what was purchased, i.e., Zellers- markers, Xmas decorations; Irving fuel; Subway meals for class trip, etc. Calculating the GST/ HST Rebate All schools are eligible for the following sales tax rebates on individual items with a procurement value of $1,000 or less and where the invoice total does not exceed $2,500: 68% of the HST paid on all eligible purchases. 100% of the GST paid on printed books, including yearbooks. A printed book does not include the following: 1. Newspapers 5. Brochures or pamphlets 2. Calendars 3. Directories 4. Agendas 6. Rate books (for example, insurance rate books) 7. Magazines and periodicals that are not purchased by subscription or that have more than 5% of their printed space devoted to advertising 3131 October

34 6. Harmonized Sales Tax (HST) Schools must ensure a competitive and open procurement process is undertaken to maximize best value for students. The procurement of goods, services, construction and facilities, with a procurement value greater than $1,000 per line item, is subject to the Board s purchasing policies and guidelines, with the following exceptions: 1. Agendas 4. Items for resale 7. Student school supplies 2. Clothing 3. Fundraising 5. Medals 6. School trips within Canada 8. Uniforms 9. Yearbooks All schools may be ineligible for the GST/HST rebate on items not acquired in accordance with the Board s purchasing policies and guidelines 3232 October

35 Harmonized Sales Tax (HST) Documentation Requirements to Claim GST/HST Rebate Canada Revenue Agency has minimum requirements for documents to be used to support GST/HST Rebates. The following are not invoices: An estimate which carries no obligation to pay, A magazine subscription renewal notice sent to a subscriber, and Packing slips or bills of lading. Following are Canada Revenue Agency s documentation requirements. Also please refer to the Accounts Payable Guide which can be found on the CCRSB Website (Finance/Accounts Payable/AP Guide) October

36 Harmonized Sales Tax (HST) GST MEMORANDUM , "DOCUMENTARY REQUIREMENTS". The Documentation Requirements are as follows: Information Requirements Total Sale under $30.00 Total Sale between $30.01 and $ Total Sale over $ Vendor/Supplier s business name X X X Date (GST/HST was paid/payable) X X X Total amount of invoice X X X An indication of which items are subject to GST/HST (if all are not taxable) or the total amount of the GST/HST Vendor/Suppliers GST/HST registration number Purchaser s Name or trading name X X X X X Description of the supplies X Terms of payment X 3434 October

37 Harmonized Sales Tax (HST) Documentation Requirements If you receive an invoice that does not meet the requirements (ie. Vendor name/business is not indicated, invoice is in excess of $30 HST has been charged and the HST number is not shown, etc), it is important that you draw the supplier s attention to the requirements and have them add the necessary information if possible. If the receipt has been turned in to your school missing this information, please call (or have the employee call) the supplier and add the required information. Otherwise, the HST Rebate cannot be claimed. For convenience purposes, Accounts Payable has started a listing on CCRSB s website for schools to access. It is located under Departments/Financial Services/Accounts Payable/HST Numbers. If the supplier and number are not included on this listing, please contact the supplier for information and forward to an AP Clerk who will keep this listing updated. Self-Assessment of the HST on supplies brought into the Province When goods are bought from out of Province or out of Country, we are required to pay HST at our current rate. Often when items are shipped from other provinces, we are only charged their Provincial rate of tax. When you receive an invoice from out of Province or out of Country for which you believe HST should have been charged, place a photocopy of the invoice in a file for your Business Manager to make the adjustment in QuickBooks. It is not necessary to self-assess when there is a 100% rebate (i.e. books) If the invoice is claimed on a school reimbursement form there is no requirement of the school to self-assess 3535 October

38 6. Harmonized Sales Tax (HST) Purchases from Other Provinces Nova Scotia, New Brunswick and Newfoundland are the only provinces which have a blended sales tax (HST). When you calculate the tax rebate on an item purchased from a province other than Nova Scotia, New Brunswick and Newfoundland, only claim: 1. 68% of the GST if the tax is broken down by GST and PST. Do not claim a rebate for the PST portion indicated on an invoice % of the total tax if the tax is shown as combined. Examples of tax on invoices from a province that does not have HST - where GST = 5% and PST = 10%. When the GST/PST is shown separately you can only claim 68% of the GST (68% x $5 = $3.40). Subtotal $ GST $ 5.00 PST $ Total $ When the GST/PST is shown as a combined total, you can claim 68% of the total tax (68% of $15 = $8.84). Subtotal $ GST/PST $ Total $ October

39 6. Harmonized Sales Tax (HST) Application for GST/HST Public Service Bodies Rebate Your Business Manager will complete the necessary forms for reimbursement after the school s fiscal year end (March 31) and submit the application no later than June October

40 7. Financial Reporting and File Management Financial reporting demonstrates accountability and provides information for decision-making needed by the school community and the Board. Annually each school may be subjected to a SBF Review by the Board. The Principal is accountable to ensure that all funds generated in the school for the benefit of the students are tracked and used appropriately. Objectives To outline financial reporting requirements including: The types of reports that are required; When and to whom they are to be distributed; Reports necessary for monthly financial files; Annual Financial Reports to Board; All pages of Bank Statement must be signed Records retention; and Records destruction October

41 7. Financial Reporting and File Management Monthly Financial Reports The following reports are to be printed monthly, reviewed and each page signed/initialed by the Principal and filed by month with all pertinent documents: 1. Bank Reconciliation Reports attached to the Bank Statement. (The Bank Reconciliation Reports include both the Reconciliation Summary and Reconciliation Detail (Balance as of ending bank statement date). 2. Balance Sheet (Balance as of ending bank statement date). 3. Income Statement (April 1 ending bank statement date). 4. The Net Income Detail Report (April 1 ending bank statement dates or bank statement dates) October

42 7. Financial Reporting and File Management Monthly Report to Special Interest Groups Each month a Net Income Detail Report is to be distributed to the various special interest groups when there has been activity in their account during the month. Special Interest Group Reports can be dated this fiscal year to date. The person who receives the reports on behalf of the group must sign the Monthly Transaction Reports form, (See Appendix B). The signed copy of the Monthly Transaction Reports form must be kept on file as verification that groups have received reports. Annual Reports An electronic copy of each school s financial statements (April 1 March 31) will be forwarded to the Board, by the Business Manager. A signed copy of the March 31 Bank Statement must also be submitted. Records Retention Financial records must be retained for seven (7) years. It is recommended that records for each year be boxed, labeled and stored in a secure place in the school. Each year s records should include, but not be limited to: Supporting documentation for receipts, Supporting documentation for disbursements, Cancelled or image-based cheques and voided cheques, Bank Statements, Bank Reconciliations Reports, Signed copies of monthly financial reports (Balance Sheet, Income Statement, and Net Income Detail). No financial documents are to be destroyed without the prior written approval of the Board Secretary October

43 7. Financial Reporting and File Management Records Destruction Board By-Law 8.06 states that the Superintendent shall see to the preservation and safekeeping of all records of the Board for at least six years after each item comes into existence; after such six-year period, subject to the provisions of the Education Act, records may be destroyed in accordance with guidelines established by the Board. Section 63 (3) of the Education Act states that no record of a school board shall be destroyed pursuant to a by-law of the school board unless (a) the secretary of the school board has submitted to the school board the Secretary s certificate stating that the secretary has personally examined the records proposed to be destroyed and that, in the secretary s opinion, there is nothing of value therein; and (b) the school board has approved the destruction of the records referred to in the certificate. As such, the following guidelines will apply to the destruction of records at the school level: (a) The school shall submit a request to the board secretary listing the records they wish to destroy. A copy of the request is to be forwarded to the Business Manager. (b) The Business Manager will examine the records to verify they are in accordance with the request and that nothing of value is being destroyed. The Business Manager will confirm the results of the examination with the board secretary. (c) The board secretary will submit a request to the school board for the destruction of the records. (d) Once authorized by the school board, the board secretary will notify the school that the records may be destroyed. (e) The school will arrange for the shredding of the records in accordance with the board approval October

44 8. Charitable Donations The Canadian tax system encourages taxpayers to support the activities of registered charities by allowing a tax credit to the donor. The Chignecto-Central Regional School Board is a registered charitable organization eligible to accept donations on behalf of its schools. Objectives To clarify: Donations that qualify for tax receipts; Donations that do not qualify for tax receipts; and The process for issuing tax receipts. Charitable Donations A charitable donation is a voluntary transfer of property, generally cash, to a public or private non-profit organization without valuable consideration in return. A charitable donation is made when all three of the following conditions are met: 1. Property, generally cash, is transferred to a registered charity; 2. The gift is voluntary; and 3. A gift is made without expectation of return. No benefit of any kind may be provided to the donor or to anyone designated by the donor. Donations can be subject to general direction, i.e., to the benefit of a specific school, but cannot be directed to benefit a specific individual. The Chignecto-Central Regional School Board Policy #B-10, Donations and Gifts, is in place for all schools October

45 9. Use of School Facilities The Chignecto-Central Regional School Board believes that school facilities are primarily intended for the educational, co-curricular and extra-curricular use of students. The Board also realizes that school facilities are valuable community assets which should be available to the community for educational, cultural and recreational purposes. Objectives To provide guidelines for use of school facilities to ensure: No loss of student instructional time; A fee structure; and The responsibilities of the users. The Board has implemented Use of School Facilities Guidelines (Policy #OS-G-09) to provide schools with guiding principles covering a wide variety of requests for the use of school facilities and related fees October

46 QuickBooks Pro 2010 Chart of Accounts To maintain consistency and standardization of accounting practices throughout the schools in the Chignecto-Central Regional School Board, the following account structure has been developed. The approved Chart of Accounts meets the financial reporting requirements of the schools and the Board. The Chart of Accounts consists of the following accounts: Bank Account - Name of Financial Institution, e.g., CIBC, BMO, TD, etc. Petty Cash HST Rebate NSF Cheques CCRSB Reimbursement Investments (if any) Retained Earnings (Balance carried forward from previous year) Income and Expense Pre-defined Parent Accounts ( see page 46) and Subaccounts as set up by the Business Manager Transfer Accounts- Set up to record the transfer of funds from one group to another 4444 October

47 QuickBooks Pro 2010 Parent Accounts The Business Managers will set-up pre-defined Income and Expense Accounts in each school, called Parent Accounts. Parent Accounts are not to be changed, added to or deleted. Never post an income or expense to a Parent Account October

48 QuickBooks Pro 2010 The following is a list of the Parent Accounts and some examples of anticipated types of income and expense which would be posted to subaccounts. Parent Account Awards/Bursaries/Prizes Extra-Curricular Activities Graduation Grants School Funds Staff/Volunteer Groups Students Council Team Sports Trips Examples of anticipated income and expenses Funds received and spent for Graduation Awards, Bursaries, and year-end prizes in an elementary, middle or high school. Funds collected by a teacher or group to cover expenses related to an extracurricular activity, e.g., admission and/or a bus to transport students, usually a one-day trip or trips of a short duration, such as year-end class trips. Income and expenses which pertain to a Graduating Class; can be the graduating class in an elementary, middle or high school. Special monies received, such as PDAF, Government Grants, etc, which have to be tracked and reported on separately. Funds at Principals discretion, e.g., income and expenses for Agendas, Book Orders, Book Fairs, Bussing, Charities, Class Supplies, Concerts, Fundraising Campaigns, Gifts, Meetings, Rebates, Swim, Water, etc. Funds collected by all other groups, e.g., Teachers, Library, Band, Home & School, French, etc. All activities of Students Council Track income and expenses for individual teams unless the teams fall under another category. For example, if a team does not do fundraising or collect a team fee and all expenses are paid by the office (small Elementary Schools), then the income and expense could be reported under the Parent Account - School Funds. Income and expenses for special trips (Quebec, Europe, etc.), not one-day trips which are reported under Extra-Curricular Activities October

49 QuickBooks Pro 2010 Subaccounts The flexibility for schools is that each school can add as many income and expense subaccounts as needed under the appropriate Parent Account. Subaccounts are where all income and expense transactions will be posted. Liability Accounts will no longer be used to track funds for various groups or teams. It is understood that in some schools different groups look after different funds, e.g., School Funds (Funds at Principal s discretion), Students Council and Sports Council. One school may include all the income and expenses for sports teams under Team Sports, while another school may include them under Students Council or School Funds. All are appropriate as long as all the income and expenses for a particular group are posted under the same Parent Account. Not every school will use all of the Parent Accounts October

50 QuickBooks Pro 2010 New Accounts When a new group/committee is formed, they often raise money to support their initiatives. To track their funds, both income and expense accounts will need to be set up. Complete a Request for a New Subaccount(s) or Class form and forward it to the Business Manager. Once approval has been received, the following instructions are for setting up new accounts. From the Home Page (top left icon) go to Company, choose Chart of Accounts or from the menu bar choose Lists / Chart of Accounts to open the Chart of Accounts window (See Figure 1). Choose one of the following methods to open the new account window. Right click the mouse anywhere in Account List window and select New from the list, Choose the Account button on the left side of the window. From the list select New. Figure October

51 QuickBooks Pro 2010 In the New Account window the following General Info is necessary to create a new account: a) Type - Select Income or Expense and then select Continue (See Figure 2). b) Name Enter the name for the account, e.g., Drama Income. c) Subaccount of Click the left mouse button in the box to the left of Subaccount to indicate this is a subaccount. From the dropdown list, select the applicable Parent Account. d) The remaining selections are optional. Click on Save and Close to create the account or Save and New to create another new account. Repeat steps a d to set up the Expense Account. When finished, click on the X box to close the Chart of Accounts window. Figure October

52 QuickBooks Pro 2010 Classes In QuickBooks, a class is used to track transactions regardless of whether they are income or expense. To provide the necessary breakdown in reporting of school-based funds, all schools will use four pre-defined classes. These classes are: (1) Contracts, (2) Donations, (3) Fundraising, and (4) Student Fees. Schools are required to track only income transactions by class for the Board. Schools who want to create additional classes to track funds MUST complete a Request for a New Subaccount(s) or Class form and fax it to the Business Manager for authorization prior to setting up the additional classes. From the menu bar choose Lists / Class List (See Figure 3). Choose one of the following methods to open the new class window. 1. Right click the mouse anywhere in Class List window and select New from the list, or Choose the Class button on the lower left side of the screen. From the dropdown list select New. In the New Class window, type the name of the class (See Figure 4). Do not use the words Income or Expense in the name of the class. Click Next to add another class, or click OK if you are finished. Click on the X box to close the Class List window October

53 QuickBooks Pro 2010 Figure 3 Figure October

54 QuickBooks Pro 2010 Some examples of when to use a class: Contracts: Cafeteria Milk Picture Rebates Vending Machines Donations to the school: Money given to support a Breakfast Program Money from the Home & School, Parent-Teacher Groups, or Businesses Money given to the school for Scholarships Money donated to teams for special activities, e.g., tournaments, plays, concerts Fundraising: Activity to raise money for a school event Admission to sports games, dances, concerts Canteen sales Magazine Campaigns Selling of items for profit, e.g., school clothing Take out suppers, Bake sales Ticket sales Student Fees: Agenda Band Fee Band Rental Fee Classroom fee Family Studies Kit Grad Fee ID Cards fee Industrial Art Kit Lockers rental Locks Sports Fee 5252 October

55 QuickBooks Pro 2010 Recording Deposits in QuickBooks Deposits should be entered in QuickBooks in the Make Deposits window. From the Home Page (top left icon) go to Banking, choose Record Deposits or open the Make Deposits window from the menu bar by selecting Banking / Make Deposits (See Figure 5). Complete the following fields: 1. Date The current date is displayed. Change the date if necessary by using the calendar or the + or keys on the number pad. 2. From Account scroll down the list and select the appropriate account. 3. Memo enter a brief description of the source of funds, e.g., car wash, team fees, etc. 4. Tab past Chq. No. and Pmt. Meth. 5. Class if applicable, select the appropriate class, e.g., Contracts, Donations, Fundraising, or Student Fees. 6. Amount Enter the amount. Figure October

56 QuickBooks Pro 2010 Repeat steps 2 6 until total deposit has been entered. Verify that the amount of the Deposit Total in the Make Deposits window is the same as the Bank Deposit total. Click Save & Close if you have entered all deposits or Save & New to enter another deposit. QuickBooks posts the total in the register once the deposit is saved October

57 QuickBooks Pro 2010 Deposits can also be entered in the main Register by completing the following fields. From the Home page (top left icon) go to Banking, choose Cheque Register or open the Register window from the menu bar by selecting Banking / Use Register (See Figure 6). Complete the following fields: 1. Date The current date is displayed. Change the date if necessary by using the calendar or the + or keys on the number pad. 2. Number/Type - Tab past. Once the amount is entered QuickBooks automatically fills DEP in this field and removes the cheque #. 3. Payee - Deposit # or Bag # if you use Night Deposit Bags, 4. Tab three times to Deposit and enter the amount. 5. Account - i) If the total deposit is to be posted to one account and does not need to be assigned a class: Using the left mouse button, select the appropriate account from the dropdown list (See Figure 6). Proceed to Step October

58 QuickBooks Pro 2010 Figure October

59 QuickBooks Pro 2010 ii)if the total deposit is to be posted to more than one account or funds need to be recorded as a Class (Contracts, Donations, Fundraising or Student Fees) it is necessary to open the Splits window (See Figure 7). To open the Splits window click on the Splits button at the bottom of the register. Figure 7 a) Account - from the dropdown list, select the appropriate account. b) Net Amount QuickBooks copied the total amount of the deposit to this column. Type in the correct amount. c) Memo - enter a brief memo indicating the source of the funds (car wash, ticket sales, class trip, etc.). d) Tab twice to Class from the dropdown list, click on the appropriate class, if applicable. Repeat steps a - d until all funds have been posted. Click the Close button and proceed to Step Memo - Enter a brief description for the source of the funds, e.g., admission to school dance Nov. 25/ Save the transaction by pressing the Enter key on your keyboard or clicking on the Record button on the lower right-hand side of the window October

60 QuickBooks Pro 2010 NSF Cheques Occasionally cheques are returned to the school from the bank as NSF (non-sufficient funds). When this happens, the group/committee that turned in the funds must be notified so they will be aware of the shortfall in their funds. An asset account has been set up to track all NSF cheques. This account should be reviewed monthly to ensure an attempt is being made to collect the funds. To record NSF cheques in the Register, complete the following: 1. Enter the date recorded on the bank statement so the transaction will appear in the correct reporting period. 2. Enter NSF Cheque under payee. 3. Enter the amount of the NSF Cheque as a payment. 4. In the account column, select NSF Cheques account. 5. In the memo column, record who the cheque was from and the group who turned in the deposit. 6. Record the transaction. If there is a bank fee for the returned cheque repeat steps 1-6 for the applicable fee. When the funds are collected to cover the NSF cheque, the amount is posted to the NSF Cheque asset account to offset the original entry October

61 QuickBooks Pro 2010 Recording Cheques in QuickBooks Cheques should be entered in QuickBooks in the Write Cheques window. Computer printed cheques are easier, quicker and more efficient than handwriting cheques and recording them in QuickBooks. To open the Write Cheques window, go to the Home page (top left icon) go to Banking, choose Write Cheques or from the menu bar select Banking / Write Cheques. This window resembles a cheque (See Figure 8). Fill in the blanks as if it were a paper cheque. Figure October

62 QuickBooks Pro Cheque Number Computer Generated Cheques A check mark in the To be printed box enables QuickBooks to automatically fill in the next cheque number when a cheque is printed. If there is no check mark, click the left mouse button in the box to turn this feature on. The No. field on the cheque will indicate To Print. If a computer generated cheque is entered and the To be printed box is not checked, the next cheque number is assigned and the cheque is posted directly to the main register. This can be corrected by: a) In the Write Cheques window, click the Previous button to locate the cheque. b) Click in the To Be Printed box to turn on this feature. To Print will now appear in the No. field. Save the changes by clicking on the Save & Close button. Handwritten Cheques It is necessary to turn off the feature which allows QuickBooks to automatically enter the next cheque number. If a check mark appears in the To be printed box, click the left mouse button in the box to turn it off. The next cheque number should appear in the number field on the cheque. If the number is incorrect, change the number with the plus (+) or minus (-) keys or by deleting the number and entering the correct number October

63 QuickBooks Pro 2010 If, by chance, the To be printed feature is turned on and the cheque is saved, it will appear in the main register with To Print in the number column. QuickBooks is waiting to assign a number when the cheque is printed. This can be corrected by: a) In the Write Cheques window, click the Previous button to locate the cheque. b) Remove the check mark by clicking in the To be printed box. Enter the correct cheque number on the cheque. Save the changes by clicking on the Save & Close button. 2. Date The current date is displayed. Change the date if necessary by using the calendar or the + or keys on the number pad. 3. Payee - Type the name of the Payee. If an address has been set up for this payee, QuickBooks fills in the information in the address section. 4. Amount - Enter the amount in numbers. Tab and QuickBooks immediately writes out the amount on the next line and enters the total in the Net Amount column in the lower portion of the window. 5. Memo - Tab to Memo and enter brief description - items purchased (power bar, rulers), or reason for payment (guest speaker, music for dance) 6. Account i) One Account The full amount of the cheque will be posted to one account. Using the left mouse button, click on the dropdown arrow in the account box and select the appropriate account (See Figure 9). Proceed to Step October

64 QuickBooks Pro 2010 Figure 9 Figure October

65 QuickBooks Pro Account ii) Continued a) Account - from the dropdown list, select the first account. b) Amount QuickBooks copied the amount of the cheque into the Amount column. If the expense is being shared by two more accounts enter the amount to be posted to the first account, or; QuickBooks will perform the calculation for you. In the Amount column press Shift/ to open a paper tape window (See figure 11), enter the number you want the total divided by and hit enter. QuickBooks divides the total and enters the amount. Figure 13 c) Memo - enter a brief memo of items purchased (scissors, pencils, etc) or reason for payment (music for dance, guest speaker). d) Tab to Class If the school uses class to track expenses, from the dropdown list, click the left mouse button to select the appropriate class. Repeat steps a-d until finished. Click the Close button and proceed to Step October

66 QuickBooks Pro 2010 iii) Two or more Accounts including HST Rebate When recording a cheque involving HST, QuickBooks will calculate the rebate quickly if the first account selected is the HST Rebate account (See Figure 12). Figure October

67 QuickBooks Pro Account iii) continued a) 1 st line - select HST Rebate. All other lines - select the applicable account. b) Amount QuickBooks copied the amount of the cheque. Highlight the amount and change it to the total tax charged on the invoice or receipt. Press Shift* to open a paper tape window (See Figure 13). Figure 13 Schools receive a rebate of 68% of the tax paid on most items. Enter this figure as a decimal (.68) and press return. QuickBooks calculates the rebate and enters the amount. c) Tab to Memo - enter a brief memo of items purchased (power bar, binders, etc.), If the receipt does not indicate what was purchased, e.g., Dollarama receipts, check with the person who submitted the receipt and list items on the back of the receipt. d) Class from the dropdown list, click the left mouse button to select the appropriate class, if applicable. Repeat steps a d until finished. Click the Close button and proceed to Step 9. 7 Memo: Enter a reason for payment, e.g., music for school dance, guest speaker, or items purchased, e.g., power bar, pencils, etc. 8. Class: If the school uses classes to track expenses, from the dropdown list click the left mouse button to select the appropriate class. 9. Click Save and New if you have additional cheques to write or Save and Close if you are finished. Cheques can also be entered directly in the register October

68 QuickBooks Pro 2010 Recording a Voided Cheque Occasionally a cheque will have to be voided for various reasons. It could have been lost in the mail, a duplicate payment, or damaged in the printer. To void a cheque that has already been issued or printed 1. In the register, click on the cheque which needs to be voided. 2. From the main menu bar, select Edit / Void Cheque. 3. Click on Record to save the change. QuickBooks keeps the cheque number, reduces the amount to zero in the payment column, enters void in the memo column and clears the transaction. Voiding a cheque only changes the amount to zero, but keeps the empty transaction in QuickBooks. It is necessary to record the damaged cheque in QuickBooks to ensure continuity of all cheque numbers. Retaining Voided Cheques Voided cheques must be retained and filed in numerical order with all issued cheques. If the school receives image-based cheques with their Bank Statement then keep the voided cheque together in numerical order. Void is to be written across the cheque and the signature lines are to be removed October

69 QuickBooks Pro 2010 Printing Cheques Cheques can be printed individually or in a batch. If a problem occurs, e.g., paper jam, wrong paper, no toner, cheques which did not print properly can be reprinted. A cheque which did not print correctly will have to be entered in the register as a voided cheque. To print one Cheque When the cheque you want to print is displayed in the Write Cheques window (See Figure 14 A), click on the Print button using the left mouse button. The Print Cheque window opens indicating the next cheque number (See Figure 14 B). Ensure the cheque with correct number is in the printer, and click OK. Figure 14 A Figure 14 B 6767 October

70 QuickBooks Pro 2010 Cheque Style and Format Before a cheque is printed, a settings window opens (See Figure 15). Under Cheque Style, left center of window, choose Voucher. Under Cheque Format, bottom of window, choose Image-Ready format. Press Print. The Cheque Style and Cheque Format only have to be selected the first time. QuickBooks will remember the settings after that. The next time this window opens, check to confirm the settings are correct and press Print. The cheques print immediately. The Did cheque(s) print OK? window is displayed (See Figure16). If yes, click OK Figure 15 Figure October

71 QuickBooks Pro 2010 Printing Cheques in a Batch To print cheques in a batch, it is necessary to open the Select Cheques to Print window. 1. From the Write Cheques window, click on the dropdown list beside Print and select Print Batch; or, 2. From the main menu bar, select File / Print Forms / Cheques. The Select Cheques to Print window lists all cheques available to be printed (See Figure 17). The check ( ) indicates cheques selected to print. Ensure the cheques with correct numbers are in the printer, and click OK. Figure October

72 QuickBooks Pro 2010 To select specific cheques 1. Remove the ( ) from all cheques by clicking the Select None button. 2. Select the cheques to be printed by clicking the left mouse button on the cheques (See Figure 18). 3. Ensure the cheques with the correct number are in the printer, and click OK. Figure 18 Reprinting Cheques Occasionally, cheques are damaged during printing or the proper cheque forms were not in the printer. These cheques will have to be reprinted. When the Did cheque(s) print OK? window opens, enter the number of the first cheque which printed incorrectly and click OK to record the number. To reprint the cheque or cheques, it is necessary to select the cheque(s) to print again. From the main menu, select File / Print Forms / Cheques. Select the cheques, ensure the correct cheques are in the printer and click OK October

73 QuickBooks Pro 2010 Reconciling the Bank Statement Bank Statements are to be reconciled by the 30 th of the following month. By placing a mark beside each cancelled cheque and deposit on the Bank Statement, it will be easier to pick out NSF items, debit and credit memos, etc. Add any missing transactions to the QuickBooks file now. Cheques appear in the Reconcile window in numerical order. Sorting the returned cheques in numerical order now will make them easier to find in the Reconciliation window and easier to file later. From the Home page (top left icon) go to Banking, choose Reconcile or from the menu bar select Banking / Reconcile to open the Begin Reconciliation window. Enter the Statement Date, Ending Balance and any Service Charges or Interest Earned from the Bank Statement (See Figure 19). Click Continue to go to the Reconcile window. Figure October

74 QuickBooks Pro 2010 Figure October

75 QuickBooks Pro 2010 In the Reconcile window (See Figure 20). All un-cleared cheques and deposits are listed in the centre section of the window. The display can be customized by clicking the Columns to Display button (1) located under the deposits. The check mark indicates the columns that are selected. To reduce the number of transactions in the window, click the box beside Show only transactions on or before the statement ending date (2) on the top right side of the window. Transactions which were entered after the ending bank statement date should not have to be cleared until the following month. On the lower portion of the window the Items you have cleared (3) is on the left side while the Cleared Balance (4) and Difference (5) are on the right. As you click on a transaction the amount changes for each of these. When the Difference is 0.00 the reconciliation is complete. The Modify (6) button, near the center, will return to the first page to enter or correct Service Charges, Interest Earned or Ending Balance. If you do not have time to finish the reconciliation, click the Leave (7) button and QuickBooks saves the portion completed. When you have successfully completed the reconciliation click the Reconcile Now (8) to finish the reconciliation and print the Reconciliation Reports October

76 QuickBooks Pro 2010 Clearing Transactions Using the left mouse button; select each transaction that appears on the Bank Statement. A check mark indicates a cleared transaction. If the wrong transaction is selected, simply click it again and the check mark will disappear. As cheques are selected, the amounts beside Cleared Balance and Difference change. Once all transactions on the Bank Statement are selected the Difference should be If the Difference is not at 0.00, check for the following: a) NSF cheque(s) not recorded, see page 58. b) Debit or Credit Memo from the bank not recorded. These must be entered into the register and checked mark to be cleared. c) Correct cheque number but the wrong amount recorded, d) Amount entered incorrectly when recording a deposit, or; e) Wrong transaction cleared. Most Bank Statements list the number of transactions for deposits and cheques as well as the total for each. Check the items you have cleared in the Reconciliation Window to see if it matches the Bank Statement. This can help determine if the error is with a deposit or a cheque. To start over again click the Clear All button and all the check marks are removed. To edit a cheque or deposit, double click on the transaction to open the window, make the correction, and then click the Save and Close button to return to the Reconcile window. Cheques which remain un-cleared on the Bank Reconciliation Screen after 6 months are considered stale dated. Business Managers will void these cheques October

77 QuickBooks Pro 2010 Contact your Business Manager If after several attempts the bank account still doesn t reconcile do not allow QuickBooks to make an adjusting entry. Contact your Business Manager, who will help to resolve the problem. When the Difference is 0.00, you have successfully completed the Reconciliation. Click the Reconcile Now button (See Figure 21). QuickBooks saves the current reconciliation. Figure October

78 QuickBooks Pro 2010 Creating a Reconciliation Report QuickBooks lets you know your account is balanced and offers report options. Always select the Both option (See Figure 22). Printing both reports provides a concise picture of the transactions which were included in this reconciliation. This detail will help if problems occur in the future. Figure 22 Reprinting the current Reconciliation QuickBooks saves only the current month. To reprint the reconciliation reports, from the menu select Reports / Banking / Previous Reconciliation October

79 QuickBooks Pro 2010 Summary Report The Summary Report (See Figure 23) does not list all transactions. It prints the Opening Balance, the totals for both cleared and un-cleared transactions, new transactions entered, and the Ending Balance. Ensure the Opening Balance is correct. Figure October

80 QuickBooks Pro 2010 Detailed Report The Detailed Report (See Figure 24) lists both cleared and un-cleared transactions, as well as new transactions entered after the Bank Statement Date, and the ending balance. Figure October

81 QuickBooks Pro 2010 Journal Entries Occasionally it may be necessary to move funds from one group to another. When transferring funds from one group to another, Transfer Accounts will be used. The Business Manager will set up the necessary Transfer Accounts for each school. A Journal Entry to transfer funds can be between two accounts or several accounts. Examples: a) Two Accounts One group transfers money to another group, e.g., Students Council gives the Boys Hockey Team $500 to help cover tournament expenses. b) Several Accounts - The Principal may transfer $500 from School Funds to give each classroom $50 to purchase items for the classroom. If the school has 10 classes the Transfer: School Funds Account would be debited $500 and the Transfer Account for each classroom would be credited with $50. From the menu bar select Company / Make General Journal Entries to open the Make General Journal Entries window (See Figure 25) October

82 QuickBooks Pro 2010 Figure October

83 QuickBooks Pro 2010 The following steps are required to successfully complete a Journal Entry: Date The current date is displayed. Change the date if necessary by using the calendar or the + and keys on the number pad. Entry No. Record the first Journal Entry as JE 1. QuickBooks automatically remembers the number and enters the next number in future entries. The Journal Entry Number recorded in QuickBooks must also be written on your supporting documentation. 1st Line 1. Account - From the dropdown list select the first account. Always post first to the account from which the funds are being moved. 2. Debit Column Enter the amount you are taking from the account. QuickBooks automatically enters the offsetting amount in the Credit Column on the next row. 3. Memo Enter a brief reason for the transfer. 4. Tab across the row to the next line. Next Line 1. Account - From the dropdown list select the account. 2. Credit Column a) If the transfer involves only two accounts do not change the amount. Complete the Memo section then Save & Close or Save & New if you have to enter another Journal Entry. b) If the transfer involves more than two accounts, delete the amount in the credit column and enter the correct amount. Complete the Memo section. c) Continue by repeating a) and b) until all accounts are selected and the Journal Entry is balanced. Click Save & Close if finished or Save & New to enter another Journal Entry October

84 QuickBooks Pro 2010 Reports The Business Manager will memorize the Monthly Financial Reports (Balance Sheet, Income Statement and Net Income Detail) that have to be printed. Your Business Manager will also memorize a Net Income Detail Report for all the Special Interest Groups who must receive reports monthly when there is activity in their account. These reports must not be changed, replaced or deleted. For accuracy and clarity when reporting to groups, QuickBooks has been set up so each of the following is listed separately on reports. Retained Earnings Any balance carried forward from the previous period. Income - All income received for the current fiscal year Expense All expenses paid for the current fiscal year. Transfers All journal entries which affect the account for the current fiscal year. Figure 26 shows the Drama Club have Retained Earnings of $ For the current fiscal year they have income of $ and expenses of $ They also transferred $200 to the Band Auxiliary. The Drama Group has a total of $ in their account 8282 October

85 QuickBooks Pro 2010 Customizing Reports Occasionally a new report may need to be created. There are numerous reports that can be printed and many options available to customize reports. One of the most useful reports is the Net Income Detail Report. To generate this report, from the main menu bar select Reports / Company & Financial / Balance Sheet Standard. Click on the Modify Report icon and the Modify Report window opens (See Figure 27). Figure 27 In the Modify Report window there are 4 tabs and under each tab there are several options. These options determine what information is included in the report and how the information is sorted October

86 QuickBooks Pro 2010 To create a balance sheet for a group, click on the Filters tab. From the dropdown arrow under Account, click on Multiple Accounts. A window listing all accounts opens. Select all of the accounts which pertain to the group, e.g., Drama Income, Drama Expense, Drama Transfers, etc. Click OK to accept the accounts. Click OK to accept the Modifications. The Balance Sheet for the group is created (See Figure 28). Figure 28 Double click on the Total Liabilities & Equity amount on the Balance Sheet to open a more detailed report. This report provides the details for all transactions (See Figure 29) October

87 QuickBooks Pro 2010 Figure October

88 QuickBooks Pro 2010 (Figure 30 is a customized version of Figure 29). Read pages for instructions on how to modify reports to include only the columns needed, customize the Title and memorize a report so you will not have to create it again. Figure October

89 QuickBooks Pro 2010 To customize any report click on the Modify Report button. Below is a list of the four tabs and the options available for each: 1. Display - is used to change the date, select the type of columns that will appear in the report and how the information is sorted. 2. Date Range - Change the date by using the calendar to select the correct date or from the dropdown menu beside Dates, select the appropriate date range. 3. Report Basis Select Accrual Basis 4. Columns Scroll down the window, the titles with a check mark beside them will appear in the report. Figures 29 and 30 are the same report but with fewer columns selected in Figure 30. To select or deselect a column click on it with the left mouse button. 5. Total by Select by Account List. 6. Sort in You can sort in ascending or descending order. The default is ascending. Filters is used to select certain types of transactions and the account or accounts to appear in the report: a) Filter Scroll down under Filters to look at the various options. Account is the setting used most of the time. b) Account The default is All accounts. To create a report for one group, from the drop down list, click on Multiple Account (See Figure 31). From the Select Account window, scrolls down the list to select the account(s) to be included in the report. A check mark indicates which account(s) will appear in the report (See Figure 32). To provide an accurate report for a group it may be necessary to select both Income and Expense as well as any Opening Balance and Transfers which affect this group October

90 QuickBooks Pro 2010 Figure October

91 Figure 32 Header/Footer is used to customize the information which is displayed on the top and bottom of the page. Most of the fields are self-explanatory. Click in any box and the check mark will be removed and the option won t appear on the report. Personalize a group s report by adding their name to the Report Title and changing the dates under Subtitle if necessary. Company Name The name of the school. Report Title Indicates the type of report. To customize the header on the Balance Sheet for a group, add the group s name in front of the title, e.g., Band Auxiliary - Balance Sheet Subtitle QuickBooks enters a date or date range depending on the type of report. This can be customized to match the Reconciliation report if necessary. Fonts & Numbers is used to change the appearance of the report much the same as in a word document. Making the fonts too large could cause your report to spread over several pages October

92 QuickBooks Pro 2010 Memorizing a Report Once a report has been customized it can be viewed on the screen by clicking on the OK button at the bottom of the Modify Report window. Continue to make changes to the report until it is suitable. A customized report should be memorized if it will need to be printed more than once. From the report menu bar select Memorize (See Figure 33). Figure October

93 QuickBooks Pro 2010 QuickBooks asks if you want to replace the original memorized report or create a new one (See Figure 34). If the report is one that was modified, it can be replaced. If it is a new report, click New. Figure 34 The next window (See Figure 35) provides space for the report name and the option to save it to a particular report group. Consideration should be given to naming reports by the Group s name at the beginning of the title so all reports for a group are grouped together, e.g., Band Auxiliary - Balance Sheet, Band Auxiliary - Net Income Detail. Figure October

94 QuickBooks Pro 2010 Printing Reports When the report is displayed on the screen, select Print from the report menu bar. Figure 36 As with most software, a Print Report window will open (See Figure 37). Figure 37 Ensure the correct printer is selected and make any changes necessary under Orientation and Page Range, then press Print October

95 QuickBooks Pro 2010 Selecting a memorized report From the main menu select Reports/Memorized Report/Memorized List. Scroll to find the applicable report then click on it with the left mouse button (See Figure 38). To display the report and make any changes necessary before printing, click on the Display button at the bottom of the window or double click the report with the left mouse button. Make any changes necessary and select the correct dates for the report, then click the Print button on the bottom of the window to print Figure the 38 report October

96 QuickBooks Pro 2010 Print Multiple Reports From the Process Multiple Reports window, several reports can be selected to print. From the main menu bar select Reports /Process Multiple Reports (See Figure 39). Figure 39 Select the applicable Memorized Report Group from the dropdown list. In Figure 39 all reports memorized under the group Accountant print at once. A check mark indicates which reports will print. If you do not want a report to print, click on the check mark beside the applicable report to de-select it. Select the correct dates for the reports, and then click the Print button on the bottom of the window to print the report(s) October

97 QuickBooks Pro 2010 Backing up QuickBooks The school s QuickBooks file must be backed up at least once a week. A good habit to develop is to backup the file daily. 1. Go to the File menu and click Save Copy or Backup to open the backup wizard (See Figure 40). Figure October

98 QuickBooks Pro Click Backup copy, click Next and then click Local backup (See Figure 41). Figure October

99 QuickBooks Pro 2010 If you haven't already done so, click Options to set your backup defaults, and choose the location where you want to save your backups. Click OK (See Figure 42). Figure October

100 QuickBooks Pro Click Next. 2. Click Save right now or Save right now and schedule future backups (if you also want to create a routine backup schedule) and then click Next (See Figure 43). Figure October

101 QuickBooks Pro (Optional) If you want to change the name or location that QuickBooks suggests for the backup file, type your changes in the File name field and click the Save In drop-down arrow to select another location. Do not change the.qbb filename extension (See Figure 44). Figure October

102 QuickBooks Pro Click Save to start the backup. Note: QuickBooks verifies the integrity of your company file based on the backup defaults you set, temporarily closes your company file, and then creates the backup. 2. When the backup is complete, QuickBooks displays a message showing the location of the backup file. Click OK (See Figure 45). Figure October

103 Fundraising Proposal All fundraising activities require prior approval by the principal. Please complete all sections of the form below and submit to the Principal. A copy of this application will be returned to you once a decision had been made. Please do not commit to the fundraising activity until approval has been received. Team/Committee: Advisor: Start Date: End Date: Description of fundraiser: Supplier/Contractor: Anticipated Sales Cost of Goods, if applicable (i.e.: item to be sold for fundraiser) Anticipated Expenses (i.e.: advertising, prizes, shipping, royalties, costumes, etc.) Projected Profit Intended use of funds raised: Signature of Advisor/Coach Date Signature of Principal Date Request Approved Request Denied Copy on Buff Paper

104 Fundraising Report Upon completion of approved fundraiser, please complete the following report to be kept on file in the office for yearend financial reporting. Team/Committee: Advisor: Start Date: End Date: Fundraiser: Number of units sold i.e.: fundraising item or tickets Total Expense incurred (i.e.: advertising, prizes, shipping, royalties, costumes, etc.) Total Profit/Deficit (Total Sales less Total Expenses Selling price per unit $ Total made Sales $ $ $ Number of units on hand (unsold) Attach a Net Income Detail Report to this form. All supporting documents such as order forms, yearbook receipt books, master tally sheets, invoicing and correspondence to and from company must be turned into the office as these are required for SBF reviews. Signature of Advisor/Coach Date Signature of Principal Date Copy on Buff Paper

105 Monthly Transaction Reports (Month) Group/Committee Date Rec d Please sign to verify your report(s) have been received. Copy on Ivory Paper

106 Petty Cash Reimbursement Dates: From: To: List individually or attach a copy of the School Reimbursement Form. Date Supplier Item(s) Account Tax Total Receipt Totals (C) Cash on hand x $20 x $10 x $5 x $2 x $1 Coin Total (B) Petty Cash Float (A): Cash on Hand (B): Receipts (C) = (A) (B): Cheque # Date Reconciled by Signature Principal s Signature Date Date Copy on Blue Paper

107 Request for New Subaccount(s) or Class Date: Subaccount Name: Income Expense Subaccount of: Class Name: Please give a brief description indicating the reason for the new subaccount(s) or class. Requested by: (Signature) Authorization: Principal s Signature Date Business Manager s Signature Date Please fax this form to your Business Manager, who will review the request and, if approved, sign and fax the form back to the school, prior to the setting up the new subaccount(s) or class. Remember to enter a new product code in the POS Receipts if required. Copy on Yellow Paper

108 Request for School Cheque Office Use Only Cheque # Date: Payable to: Address: Amount: Charge to: (Account / Group) Reason: Requested by: (Signature) If you have more than one receipt/invoice, please list separately and attach originals. Date Supplier Item(s) Subtotal Tax Total Totals Principal s Signature Date HST Calculation: Total HST 68% Copy on Grey Paper

109 Request for Transfer of Funds Journal Entry # Date: Date: Requested by: (Signature) Reason: From Account (debit) To Account (credit) Amount Principal s Signature Date Copy on Pink Paper

110 School Deposit Form Groups, teams or individuals depositing money at the office are required to complete the following deposit sheet and include it with the money to be deposited. The amount will be verified by the office and receipt(s) issued. Where large amounts of coin are involved, it is expected that the coin will be rolled. NOTE: Every person who makes a payment of $10 or more must receive an individual receipt. It is the responsibility of the person completing the deposit form to provide the names of persons who require receipts on the reverse side of this form or attach a class list. Date For Group / Team / Committee Completed by (Signature) CHEQUES BILLS and COIN Name Amount Bills Total x $ 5 $ x $ 10 $ x $ 20 $ x $ 50 $ x $ 100 $ Total Bills $ Rolled coin x Rolls of 1 (.50/roll) $ x Rolls of 5 ($2/roll) $ x Rolls of 10 ($5/roll) $ x Rolls of 25 ($10/roll) $ x Rolls of $1 ($25/roll) $ x Rolls of $2 ($50/roll) $ Total Rolled Coin $ Loose Coin x 1 $ x 5 $ x 10 $ x 25 $ x $1 $ x $2 $ Total Loose Coin $ Total Bills & Coin $ Total Cheques $ Total Cheques $ US Bills/Cheques $ FOR OFFICE USE ONLY Source of Funds please indicate the source of funds: i.e., car wash, BBQ, ticket sales, student fees, yearbook sales, donation. Source of Funds Net Deposit $ Verified Amount: $ Receipts Issued: From # To # Signed: Date: Copy on Green Paper

111 Please issue receipts to the following: Name Reason for Payment Amount Cash Chq Total: Copy on Green Paper

112 Taxable Sales Worksheet Record your estimated annual sales, where applicable, under the Annual Sales column. Description Taxable Non- Taxable Annual Sales Textbook deposits X Student activity fee X Items sold at or below cost Food and drinks sold at co-instructional events Sale of school supplies at or below cost Fundraising items with a sale price of less than $5.00 Funds collected from field trips Funds collected from extracurricular bus trips Bank interest earned X X X X X X X Yearbook sales if greater than cost (Do not include donations or advertising revenue here, or in calculating whether sales exceed costs) School rings (If a 3rd party sell the rings and the school receives a commission, the commission is exempt) Chips/pop/snack food Fundraising items with a sale price greater than$5.00 School locks (If locks are sold, the revenue is taxable) School locks (If locks are rented/leased, revenue is tax exempt) Agendas Vending machine sales(if the school owns the machine, revenue is taxable) (If the school rents space to a 3rd party and receives a commission, the commission is tax exempt) Sale of school supplies at greater than cost X X X X X X X X X X Estimated Total Taxable Sales

113 PAYROLL TAXABLE BENEFITS EMPLOYEE: SCHOOL: DATE PAID: AMOUNT: TYPE OF BENEFIT: Gift Certificate/ Other (Please specify) Cheque (Provide cheque #) Gift Card Explanation: Principal (Please Print) Principal (Signature) Date Business Manager (Signature) Date Please complete each time a payment (Gift and Award) is made to an employee. Forward immediately to your Business Manager. Business Managers will then forward to Shannon MacPhee, Payroll Manager.

114 T4A Information Students and Non-employees Full Name: Mailing Address: S.I.N.: School: Date of Payment: School Cheque #: Amount: Reason for Payment: Approved by Principal: Name (Please Print) Signature Date Reviewed by Business Manager: Signature Date Please complete for all non-employees who received payments (Cheque written from School Bank Account) of $500 or more in one calendar year. (scholarships, bursaries, honorariums, DJ s, Breakfast Program Workers, etc.) Also complete for individuals who have received less than $500 and may receive further payments during the year or reimbursement from other schools in Chignecto-Central. Complete this form as expense is incurred and forward immediately to your Business Manager. Addresses and Social Insurance Numbers are REQUIRED. As per Canada Revenue Agency You must be able to show that you made a reasonable effort to get this information or you may be subject to a penalty.

115 Your School Name Here Financial Information for our Team Coaches/Volunteers/Club Advisors As a volunteer with our school you have certain responsibilities regarding any funds collected, raised or used by your group (see attached for complete list). All funds associated with school related activities must be administered through the school office. All money must be taken to the office on a daily basis. DO NOT leave money in the classroom or at home. Please roll coin when there is enough for a full roll. Do not pay expenses from money collected all funds collected are to be deposited all expenses are to be paid with a school cheque. Receipts The office will issue receipts for all funds received. Receipts will be issued to the staff or volunteer turning in the funds for amounts less than $10. For amounts of $10 or more received, receipts will be issued to the student or individual please include a list of names, amount paid and purpose of payment. This is a Chignecto-Central Regional School Board policy. Exception Fundraising funds do not have to be individually receipted. Purchases Purchases for school activities must be made separate from personal purchases. In order to be reimbursed you must provide the office with a receipt detailing your purchase. The receipt must be accompanied by a Request for School Cheque completed form. DEBIT or CREDIT CARD slips will not be accepted, the original detailed receipt is required. Attached, please find the following forms: School Deposit Form - to be used when turning in money collected or raised. All funds must be delivered intact to the Administrative Assistant. The group /activity to receive credit should be identified. Fundraising Proposal to be completed prior to a major fundraising activity (estimated profit over $100), to be approved by Principal. Fundraising Report to be completed when fundraising activity is finished, to be approved by Principal. Request for School Cheque form to be completed when requesting payment to a company/individual, must be accompanied by receipts and approved by Principal. Request for Transfer of Funds to be completed when requesting a transfer of funds to another group/committee. If you are responsible for your group or committee, you will be provided a Net Income Detail Report in months there is activity (deposits or payments). You will be asked to sign a Monthly Transaction Report as verification you have received the report. You should review the report and ensure all deposits submitted and any payments or transfers you requested are included. It is your responsibility to report any discrepancies as soon as possible. Financial accountability is extremely important. These procedures are designed to provide protection for all those involved in the handling of school funds. Your time and dedication given to our students outside of the classroom is greatly appreciated.

116 DONATIONS AND GIFTS POLICY #B-10 ADMINISTRATIVE GUIDELINES 1. Definitions 1.1 Gift / Donation: A contribution for which there is no reciprocal consideration from the school or Board. 2. Authority 2.1 Charitable tax receipts shall only be issued in compliance with the requirements of the Income Tax Act. 2.2 The Director of Financial Services is authorized to provide for the acceptance of any donation which does not require the prior approval of the Financial Services Committee. 2.3 The prior approval of the Financial Services Committee is required to accept donations in the following categories: Any items which require a significant modification to Board property; Vehicles other than wheelchairs; Any tax receipted donation of more than $1, that is intended or will result in significant personal/commercial/business advantage to the donor; Any gift requiring the Board to make significant expenditures. Any gift that is conditional, restricted or obligates the Board in any manner to formalized ongoing trust conditions. 2.4 The Director of Financial Services is authorized and responsible to: a. Ensure that only donations that satisfy the requirements of the Board are approved; b. Ensure that all charitable tax receipts satisfy the provisions of CCRA and the Income Tax Act. Board

117 c. Issue official charitable receipts; d. Hold and disburse to the specified donee all donations received, subject to trust conditions as approved by the Financial Services Committee; and e. File charitable tax returns as required with Canada Customs & Revenue Agency (CCRA). 3. Reporting 3.1 The Director of Financial Services shall provide an annual report of all gift and donation activity to the Financial Services Committee of the Board. 4. Procedures for Accepting Cash Donations (e.g. fund raising, corporate sponsorship, scholarships, bursaries) Cash donations are to be used for purposes such as: providing student cash awards, trophies, plaques for student achievement, etc. covering approved types of expenses for educational or team trips Purchase of approved types of equipment and supplies for Board and student purposes 4.1 Any use of gifts and donations for purposes other than of the type described above shall require prior approval of the Financial Services Committee. 4.2 To ensure accountability and proper record keeping for both CCRSB & CCRA purposes, all donations of a value in excess of $10.00 shall be processed through the Director of Financial Services by the Principal, accompanied by a Gifts to Schools Request Form (Appendix A). 4.3 The Director of Financial Services (or designate) shall receive and hold in a separate, designated account all such donations, to be disbursed only for the designated purposes specified by the donor, unless otherwise directed by the Financial Services Committee. Board

118 4.4 If the donor requires a charitable tax receipt and the proposed donation does not qualify for tax receipt status, the donation shall be returned to the Principal for delivery to the donor, unless the donor agrees to waive the request for a charitable tax receipt or other conditions that disqualify the proposed donation. 4.5 Unless otherwise directed by the Financial Services Committee, the role of the Director of Financial Services shall be limited to accounting for the receipt and proper disbursement of donations to the designated school or other beneficiary, without any authority to redirect the usage of such donations. 5. Procedures for Accepting Gifts of Materials, Equipment, or Cash for the Purchases of Materials or Equipment 5.1 Factors to Consider: The Principal of the designated beneficiary school, or other appropriate representative of the Board, shall submit a completed Gifts to Schools Request Form (Appendix A) for every proposed donation of a value exceeding $ Upon receipt, the Director of Financial Services and either the Director of Education Services or the Director of Human Resources Services or the Director of Operational Services shall jointly determine whether the proposed donation qualifies for approval and acceptance by the Board. Criteria for consideration shall include: Value of the gift to the school s educational program; Location of the gift in the school building or on the school property; Applicable installation or repair costs; Board approved standards for safety, construction and/or other applicable municipal, provincial and federal regulations; Security and maintenance requirements; Board standards for equipment (e.g., computers, audio-visual); Any continuing financial or other commitment required by the school or the Board. 5.2 Consultation with the Donor: Either the School Principal or the Director of Financial Services (or designate) shall be responsible to consult with a proposed donor to ensure that the terms and conditions of donation are understood. The proposed donor shall be informed that: Board

119 5.2.1 All accepted gifts to the Board shall become the property of the Board; The Board encourages donations to be unrestricted. In the event a proposed donor requires express restrictions or trust conditions on the proposed gift, such terms must be approved by the Financial Services Committee before acceptance. The Director of Financial Services shall be responsible to maintain adequate records of all such restrictions or trust conditions Circumstances permitting, the Board will make all reasonable efforts to honour the purpose and intent of the original donation The use of the gift will be dependent upon the availability of funds within the school budget; Installation of, and/or alterations to, Board property required in association with acceptance of the gift shall be subject to the approval of the Director of Operational Services and may require Board approval; Gifts will be covered by the normal insurance policies of the Board. 6. Approval Procedures 6.1 Following consultation with the donor, the principal shall complete a Gifts to Schools Request Form (Appendix A) and forward this along with any funds received to the Director of Financial Services for approval. 6.2 Where the value of a gift is not readily apparent, the prospective donor may be required to provide an acceptable independent appraisal of the value of the gift, for purposes of compliance with CCRA requirements. 7. Recognition of the Donor 7.1 The Principal, or in the absence of a Principal, the Director of Financial Services, is responsible to ensure that appropriate recognition and appreciation is communicated to every approved donation. Where appropriate, the Board Chair or Superintendent shall be invited to provide such recognition. Distribution All Policy and Procedure Manual holders Board

120 GIFTS TO SCHOOLS REQUEST FORM School: Date: Signature of Principal: Section to be Completed by School: Description of Gift: New Used (including product name where applicable) Estimated Value: $ Donor of Gift: Funds Enclosed: $ Value to the School Program: Proposed Location in School or on School Grounds: Action Plan for Safety, Security and Maintenance: Official Donation Receipt Requested: No Yes Amount: $ Name of Third Party Appraiser (attach appraisal) Two Approval Signatures Required: Director of Financial Services: (Plus one of the following) Director of Education Services: or Director of Human Resources Services: or Director of Operational Services: Complete all information and forward to Director of Financial Services, CCRSB Board

121 How to Add and Edit Customers How to get to the Customer Edit Screen Figure 1 (Menu) Figure 1 shows you how to get to the screen for editing customers. Figure 2 (Screen) Figure 2 shows you the screen for adding, editing and deleting customers. Adding a New Customer At the top of the screen there is a list of existing customers. You can leave the first item in the list selected. The label above the "Save" and "Delete" buttons will say "New Customer". You have to provide a customer code, last name and first name. Last name and first name are not required if you provide a company name.

122 Edit an Existing Customer. At the top of the screen there is a list of existing customers. You can select the customer you want to edit from this list. The label above the "Save" and "Delete" buttons will have the selected customer's information. You have to provide a customer code, last name and first name. Last name and first name are not required if you provide a company name. Delete an Existing Customer. At the top of the screen there is a list of existing customers. You can select the customer you want to edit from this list. The label above the "Save" and "Delete" buttons will have the selected customer s information. Click the "Delete" button to delete the customer. Customers that have receipts associated with them cannot be deleted.

123 How to Add and Edit Products How to get to the Product Edit Screen Figure 1 (Menu) Figure 1 shows you how to get to the screen for editing products. Figure 2 (Screen) Figure 2 shows you the screen for adding, editing and deleting products. Adding a New Product. At the top of the screen there is a list of existing products. You can leave the first item in the list selected. The label above the "Save" and "Delete" buttons will say "New Product". You have to provide a product code product name and price. Edit an Existing Product.

124 At the top of the screen there is a list of existing customers. You can select the product you want to edit from this list. The label above the "Save" and "Delete" buttons will have the selected product's information. You have to provide a product code, product name and price. Delete an Existing Product. At the top of the screen there is a list of existing customers. You can select the product you want to edit from this list. The label above the "Save" and "Delete" buttons will have the selected product's information. Click the "Delete" button to delete the product. Products that have receipts associated with them cannot be deleted. If you no longer wish to see a product you can remove the checkmark from the box labeled "Mark This Item Active". Advanced Options There are two other options on the screen, "Enforce Memo" and "Mark This Item Active". The "Enforce Memo" option, when checked, will require that the person filling out the receipt enter something in the memo field. The "Mark This Item Active" option needs to be checked before you can write a receipt for the item. Once the box is checked the item shows up in the list of items to choose from when writing a receipt. Printing There is a link on the edit screen to labeled "Click here to print product lists". Click the link and you will be directed to a print screen where you can print the product list. Select how you want the products sorted and then click on the buton labeled "Create the Report". (See Figure 3 below) Figure 3 (Print Screen) Figure 3 shows you the screen for printing the product list.

125 How to Issue a New Receipt How to get to the New Receipt Screen Figure 1 (Menu) Figure 1 shows you how to get to the screen for creating a receipt. Figure 2 (Screen) Figure 2 shows you the screen for creating a receipt. The screen is divided into two sections customers and items. First we will look at the customer section.

126 Finding Customers All receipts must have a customer associated with them. To start you can search for students, staff or previously saved customers. The entire student and staff population of the board is available to each school by checking the box labeled "Include staff and students from all locations". Type your search criteria in the box to the left of the "Go" button and then click "Go". Your search results will appear in the list below the "Go" button. Once you have found the customer you are looking for Click the "Add" button. The selected customer will be added to you list of selected customers. If you are issuing a receipt for a new customer you do not have to add the customer first. You can simply use the new customer section of the screen to provide the customers information. When saving a receipt for a new customer the customer is added to you list of saved customers when the receipt is saved. If you have selected the wrong customer accidently you can remove the customer by clicking the remove button to the right of the customer. Assigning Items to a Receipt All receipts must have at least one item associated with it. To search for an item, type the item number or item name in the box to the left of the search button. The "Search" button is the button with the binoculars on it. You can search by partial name and partial number. Once you have entered your search criteria click on the search button. The first item that your search matches will be selected in the list to the right of the search button. If you want to continue searching with the same criteria keep clicking the search button and the search will continue. Accepting Payment Once you are finished assigning items to the receipt you can continue to the payment section. This is very straight forward. Simply put the amount paid by cheque or cash in the appropriate boxes. The amount paid must equal or exceed the amount owed. After the payment information has been received click on the "Save" button at the top or bottom of the screen. A new window will open with the receipt ready to print. For more detail on printing see Receipt Search / Print Advanced Options You will notice at the bottom of the screen near the "Save" button there is a box labeled keep settings. If checked the receipt information will remain on the screen when you save the receipt. This is useful when issuing multiple receipts for the same item.

127 How to Find, Void and Print Receipts How to get to the Screen for Finding, Voiding, and Printing Receipts Figure 1 (Menu) Figure 1 shows you how to get to the screen for finding, voiding and printing receipts. Figure 2 (Screen) Figure 2 shows you the search controls for finding receipts.

128 Finding the Receipt You can provide as much or as little information as you want when searching for receipts. The more information you provide the more refined your search results will be. Once you have entered the search criteria in the appropriate places click the "Find Receipts" button. The results of the search will be displayed below the search area. Figures 3 and 4 below show you the long and short printable formats of the receipts. Voiding Receipts You will notice at the bottom of each receipt is a box labeled VOID. If you check this box, and then click the "Update Receipts" button at the top of the screen, the corresponding receipts will be voided. If you accidently void a receipt, remove the check from the box and then click the "Update Receipts" button. Figure 3 (Long Format Receipt) Figure 4 (Short Format Receipt)

129 Figure 5 (Print Dialog) Printing Receipts On the Internet Explorer menu click on "File -> Print". A print dialog box will appear (See Figure 5 above). Choose the appropriate printer for the short or long format of the receipt then click "Print". The short format receipt is designed to print on the "Epson TM-T88IV Receipt" printer. The long format receipt is designed to print on the "HP 4250 LaserJet" printers.

130 How to Run an Audit Reports How to get to the Audit Report Screen Figure 1 (Menu) Figure 1 shows you how to get to the screen for running an audit report. Figure 2 (Screen) Figure 2 shows you the search controls and results for the audit report. Creating the Report You can run the report for any date range. Once you have entered the search criteria in the appropriate places click the "Create Report" button. The results of the search will be displayed below the search area. If you want to see voided receipts on your report check the box labeled "Include Void Receipts".

131 Figure 3 (Print Dialog) Printing the Report On the Internet Explorer menu click on "File -> Print". A print dialog box will appear (See Figure 3 above). Choose the appropriate printer for the report then click "Print". The report is designed to print on the "HP 4250 LaserJet" printers.

132 How to Run a POS Sales Report How to get to the POS Sales Report Screen Figure 1 (Menu) Figure 1 shows you how to get to the screen for running a sales report. Figure 2 (Screen) Figure 2 shows you the search controls and results for the sales report.

133 Creating the Report You can run the report for a date range or a specific deposit. Once you have entered the search criteria in the appropriate places click the "Create Report" button. The results of the search will be displayed below the search area. Figure 3 (Print Dialog) Printing the Report On the Internet Explorer menu click on "File -> Print". A print dialog box will appear (See Figure 3 above). Choose the appropriate printer for the report then click "Print". The report is designed to print on the "HP 4250 LaserJet" printers.

134 How to Make a Deposit How to get to the screen to Make a Deposit Figure 1 (Menu) Figure 1 shows you how to get to the screen to make a deposit. Figure 2 (Screen) Figure 2 shows you the screen to make a deposit. Making a Deposit On the screen you will find a list of receipts not associated with a deposit. All of the receipts listed will be attached to the deposit. Void receipts are displayed in red and have a line drawn through them. Once you have confirmed that the receipts listed are correct, you are ready to make your deposit. Click on the "Save Deposit" button and the screen will clear. You have just successfully created a deposit. Next you will need to print off a sales report for your deposit. See POS Sales Report

135 How to Run Deposit, Product and Customer History Reports How to get to the History Report Screen Figure 1 (Menu) Figure 1 shows you how to get to the screen for running a history report. Figure 2 (Screen) Figure 2 shows you the search controls and results for the history report.

136 Creating the Report You can provide as much or as little information as you want when searching for receipts. The more information you provide the more refined your search results will be. Once you have entered the search criteria in the appropriate places on the screen click the "Create Report" button. The results of the search will be displayed below the search area. If you want to see voided receipts on your report check the box labeled "Include Void Receipts". Figure 3 (Print Dialog) Printing the Report On the Internet explorer Menu click on "File -> Print". A print dialog box will appear (See Figure 3 above). Choose the appropriate printer for the report then click "Print". The report is designed to print on the "HP 4250 LaserJet" printers.