PROCEDURE - ASSOCIATED STUDENT BODY BUDGETS

Transcription

1 PROCEDURE - ASSOCIATED STUDENT BODY BUDGETS 7415P The combined budgets for all the student activity groups will complete the Associated Student Body (ASB) program budget for the school. After the proposed school ASB budget is approved by the student council and the primary advisor, it shall be forwarded to the District fiscal officer within required times for ratification and consolidation with the other ASB program budgets of the District which, when consolidated and approved by the Board will be the ASB program fund budget for the District. The budgets shall specify projected beginning balances, revenues, necessary transfers, expenditures and ending balances for the following six (6) activity categories. 1. General Student Body To include activities which effect the general membership of the ASB. General revenue producing activities and unallocated monies would be the primary subcategories. 2. Athletics To include all athletic programs of the ASB. 3. Classes To include those ASB activities whose membership is comprised of students by virtue of belonging to a general school system classification (i.e., grade levels). 4. Clubs To include those ASB activities whose members meet the membership criteria as defined by the activity group. All clubs must be approved under the ASB constitution of the individual school. 5. Payments From Other Districts For use in financial transactions between multi-district organizations that are managing North Thurston School District and other districts in the organization. 6. Private Money Private money must be identified as such at the time of collection. Expenditures must be under budgetary authority.

2 7415P Associated Student Body Budgets Page 2 of 7 RECORDS The financial and accounting records of each ASB program within the District shall be maintained in such a manner as to provide a separate accounting for the transactions of each ASB in the District. Also, the fiscal and accounting records of the ASB program monies shall constitute public records of the District, shall be available for examination by the State Auditor and shall be preserved in accordance with statutory provisions governing the retention of public records. ASB REVENUE ASB monies include donations made for the support of the ASB program and fees collected from students and non-students as a condition to their attendance at any optional, non-credit extracurricular event of the District which are of a cultural, social, recreational or athletic nature and revenues derived from ASB programs. PURCHASING All purchase except those made from the Imprest Fund require the issuance of a purchase order. Districtwide orders for common items and common vendors exceeding current state bid law statues in total require bidding as per WAC and RCW 28A or successive statutes. The process for initiating purchases is as follows: 1. Club or activity will originate request with supervisor. 2. ASB treasurer will check club or activity budget to see if funds are available within expenditure limit and recommend to building principal or designee. NOTE: As per statute and regulation, expenditures shall not exceed cash-on-hand or expenditure level as specified in the annual budget; therefore, the current balance of the total ASB account must be kept in mind when approving expenditures. 3. With approval of the ASB and the primary advisor, the purchase order is forwarded to the District purchasing department for business office processing. 4. Business office procedure: a. Purchase order number assigned. b. School ASB account balanced checked as per No. 2 above. c. Original forwarded to vendor. d. Receiving and permanent school copy returned to the school to await shipment of goods. e. Purchasing copy retained in numerical order at the District Office. Accounting copy retained in alphabetical order at the District Office.

3 7415P Associated Student Body Budgets Page 3 of 7 5. Upon receipt of goods at the school, the receiving copy of the purchase order is signed by the primary advisor or designee, noting any irregularities in shipment and forwarded to the District accounting office as authorization for full or partial payment. All received goods are to be inspected immediately. Purchases of athletic equipment will be made three (3) times during the school year. Total anticipated needs, including specifications, should be submitted to the District Office purchasing department. All athletic orders for sports equipment will be due in the Districts purchasing office as per dates set on the Administrative Services Calendar. unanticipated needs will be handled following procedure No. 3 above, provided items are in compliance with specifications of already secured items and within budgetary limitations. ASB ATHLETIC EQUIPMENT BIDS All ASB athletic equipment to be bid will be specified by brand or other valid criteria which would provide for determination of the lowest bid, meeting specifications. When brand names are used, a rationale must be on file in the purchase office. Should bids on comparable pieces of equipment be submitted, the bidder must supply a sample for examination and testing. Final decision for recommendation of low bid meeting specification shall be by the District fiscal officer or designee pursuant to WAC Bids should be sent to all interested vendors. This list shall be maintained in the District purchasing office. Bid prices should be valid for at least thirty (30) days from bid opening. All bids should be prepared for recommendation to the Board at least on (1) week prior to submission for Board action. INVOICES - PROCEDURES Invoices shall be prenumbered and all voids must be accounted for. Sales tax shall be charged in accordance with State Department of Revenue tax codes (on both materials and labor) with a recap of tax due and a copy of all invoices submitted to the Accounting Department monthly (auto club, small engines, voc. ed., etc.). TICKETS - PROCEDURE A ticket sales report shall be completed for all ASB activities where admission is charged. The student body gate receipt shall be attached and the reports maintained as part of the school s financial records. All tickets shall be prenumbered and stored in a secure place.

4 7415P Associated Student Body Budgets Page 4 of 7 GATE - PROCEDURE 1. Every effort should be made to have at least two (2) people selling tickets at the gate - one (1) receiving money and the other giving tickets or performing some form of accounting function. One of the two (2) people selling tickets at the gate will be an adult. 2. Before giving the tickets to the person assigned to the gate sales, the supervisor should record the number sequence of tickets to be used. When the tickets are returned after the event, tickets sold should be computed. this amount is then compared with the receipts for the event to determine if all receipts have been turned in to the office. 3. Whenever possible, the person handling cash should always be with another authorized person especially during the transporting of cash to the school office and the depository. 4. All cash must be reported and deposited as soon as possible after the gate sales are completed. DEPOSITS All monies collected through the programs and activities of the ASB shall be receipted in a prenumbered receipt book. Deposits shall be made daily or as necessary to the District depository as specified by Board action. All deposits shall be made intact. One (1) copy of the deposit slip shall be forwarded to the District accounting office showing the amount of the deposit and the deposit breakdown: the activity numbers and the amount of revenue receipted for each activity number. Total deposits shall then be transmitted intact to the County Treasurer on a regular basis. INTERACTIVITY TRANSFER The interactivity transfer will be used to transfer funds from one ASB activity or club to another. The transfers are prenumbered and there are four (4) copies of the transfer. One for the transferer, one for the transferee, one to be sent to the District accounting office and one book copy to be retained in the school files. IMPREST CHECKING An imprest checking account has been established by the Board to facilitate the payment of minor or unexpected obligations which require immediate payment. The level of the imprest banking account has been set by the Board at $6,000: $2,500 for each high school and $500 or each middle school.

5 7415P Associated Student Body Budgets Page 5 of 7 The imprest checking account shall be used for emerging needs that were not anticipated or where an ASB purchase order is not appropriate. Checks for petty cash shall also be drawn from the imprest account to supply change for gates and concessions. All checks are to be issued to named individuals or other identifiable entities only and bear signatures to two (2) authorized personnel: the primary advisor and ASB treasurer or designee. The imprest checking account replenishment request shall be completed and forwarded to the District office. The imprest checking account shall be used for emerging needs that were not anticipated or where an ASB purchase order is not appropriate. Checks for change funds shall also be drawn from the imprest account to supply change for gates and concessions. All checks are to be issued to named individuals or other identifiable entities only and bear signatures of two (2) authorized personnel: the primary advisor and ASB treasurer or designee. The imprest checking account replenishment request shall be completed and forwarded to the District accounting office at the end of each calendar month with copies of any deposits attached. Requests can be made twice monthly when needed because of large amount needed for officials. Deposits or amounts returned as change for an imprest check are also to include only warrants for reimbursement of the account and redeposit of monies drawn for change funds. The replenishment requests from the schools are then used along with the bank statement to balance the imprest account and warrants are then issued to the schools bringing the balance back up to $6,000 total. All disbursements from the imprest checking account must be supported by invoices and an ASB check authorization. Supporting documents for checks drawn on the imprest account are forwarded to the district accounting office with copies retained at the individual schools at their option. ADVANCED TRAVEL When money is needed for travel, a purchase order is required a minimum of three (3) days in advance. These advance travel monies are to be used for meals, lodging and transportation when a purchase order is not accepted by the vendor. Receipts and any unused money must be returned to the accounting department within ten (10) days. This shall apply to all ASB activities - field trips, athletic trips, club outings, etc. Prior trip approvals are required; also compliance with Policy 5341 and Procedure 5341P.

6 7415P Associated Student Body Budgets Page 6 of 7 MONTHLY STATEMENTS - ASB FUND At the close of each calendar month the individual activity accounts are closed and the schools are balanced to the general ledger accounts. A District level financial report is then prepared for the Board and a copy of each ASB s report is forwarded to the schools along with a copy of each school s Activity Fund Balance Report for the month. The Activity Fund Balance Report should be reviewed and errors reported immediately to the District accounting office for correction. ASB LEDGER ACCOUNTS 200 Imprest Funds Change fund for school; reimbursed from general fund by warrant. Withdrawals by check only. 240 Cash on deposit with County Treasurer Balance of cash on hand after payment of warrants 241 Warrants Outstanding Warrants issued but not redeemed 510 Estimated Revenues Total estimated revenue for year for all four schools together 520 Encumbrances monies held for payment of outstanding purchase orders 530 Expenditures Total expenditures to date 540 Appropriated Fund Balance difference between revenues and expenditures on the annual ASB budget 560 Revenue Contra Offset account of account required to balance books 820 Reserve for Encumbrances Offset account of account required to balance books 890 Unreserved Fund Balance All receipts and disbursements are recorded here - net result is actual ASB fund balance 900 Appropriations for Expenditures Total estimated expenditures for year for all four schools 930 Expenditure Clearing Offset account for account required to balance books 960 Revenues Record of actual revenues for year to date

7 7415P Associated Student Body Budgets Page 7 of 7 CHANGE FUND Change funds are to be drawn on the imprest account. Upon issuance of the change, fill out a change fund receipt and have it signed by the person receiving the monies. Upon return of monies, issue receipt copy of change fund receipt and retain original with funds and redeposit to the imprest account. Checks for change funds shall be listed on the imprest Bank Check Account Replenishment request and receipts for redeposits shall be attached to the back of the report along with supporting documents and forwarded to the District accounting office. PAYMENTS All disbursements shall be made by warrant except those made from the imprest checking account. A voucher register shall be prepared for approval by the Board on the first and third Monday of each month. Upon approval, the voucher register is forwarded to the County and copies of the voucher covers are forwarded to the schools. Purchases made with an ASB purchase order shall be set up for payment when invoices from vendors and receiving copies of the purchase orders, authorizing full or partial payment, are received from the schools. Officials and referees who officiate at ASB sport events shall be paid by ASB imprest check. A claim for payment by athletic officials and authorization to issue checks for services shall be completed and returned to the school and forwarded to the District Office with imprest reimbursement reflected. District personnel who have officiated or worked for and are to be paid by the ASB shall be reported on a time slip to ASB accounting office. Time slips shall reflect name and address of employee, hours worked, rate of pay, ASB account to be charged and signatures authorizing payment of the claim. Time slips for indistrict personnel will then be forwarded with other information as necessary to the District ASB clerk and payment will be in addition to regular pay by the District payroll officer. The ASB will then issue a warrant to reimburse the District for that portion of the pay and benefits incurred by the District as a result of the extra pay. A retail sales report shall be completed by each school at the close of each calendar month and forwarded to the district accounting office. This report shall list retail sales by activity and is the authorization to issue a warrant for payment of state sales tax and to charge individual activities for their share of the amount due. At no time shall warrants be issued or funds encumbered in an amount greater than the funds on deposit with the County Treasurer in the ASB program fund or above the District-approved expenditure level. Each ASB within the District shall be limited in expenditures and encumbrances to the current balance of that school s ASB fund. Each activity classification within a school s ASB is also to be within current balances. Implemented: February 3, 1986 North Thurston School District