Webinar. Presented By Amanda Winn and Elizabeth Whitaker August 31, 2011

Transcription

1 USFR Student Activities Webinar Presented By Amanda Winn and Elizabeth Whitaker August 31, 2011

2 Outline Importance of Controls for Student Activities What activities are student activities? Cash Receipt Process Cash Disbursement Process Reconciliation Procedures Questions

3 Student Activities Increased risk ikof loss or misuse How can you protect your district USFR Procedures (online) Training

4 Separation of Duties 3 Key Duties Cash hhandling Authorization i Record Keeping

5 Student Activities Monies ARE: Monies raised by the EFFORT of STUDENTS with Governing Board Approval NOT Student clubs School plays Student led fundraisers Auxiliary Operations Extracurricular Activities Tax Credit PTOs and Booster Clubs

6 Student Activities Fundraisers Approval must be obtained from the Governing Board General Approval Dues Concessions Ticket Sales Publications Recurring Sales Specific Approval Donations/gifts (to the specific club) Special Event Joint Fundraisers No Raffles or Games of Chance AG Opinion I BING GO

7 Other Governing Board Actions ARS A.R.S Student Activities Treasurer Governing BoardAppointed Responsible for Oversight Reports to Governing Board Monthly Bank Account Check Signers Sg es

8 Key Questions to Determine if Monies are Student Activities $ Who decides how the money is spent? Who collects the money? Example: Student Activities? Yearbook There is a club Students order Money collected by sponsor Students authorize expenditures Yes No Yearbook There is a class (not a club) Students order Money collected in school office No student authorization of expenditures

9 $$ Monies $$ Joint Fundraisers Proceeds can be allocated amongmultiplestudent multiple clubs among club and PTO or club and Auxiliary Operations

10 Recording Collections Monies collected must be recorded: Activity Report OR CashCollection Collection Report Monies collected must be physically safeguarded at all times!

11 Activity Report See USFR Page X H 19 School Account Name Account Code Date Event Club Officer/Sponsor Change Fund Receipt Number Amount $ Ticket Type Ticket Numbers Issued From To Next Ticket Number to Be Issued Beginning Ticket Number Used Number Sold Price $ $ Total Sales Cash Denomination Returned Total Deposit $ Checks $ Less Total Sales $ Cash Overage (Shortage) $ Reason for Overage (Shortage): Tickets and Change Fund Issued To: Club Officer/Sponsor Signature Less Change Fund Total $ Total Deposit $ Date Change Fund, Tickets, and Cash Collections Received By: Bookstore Manager or Designee Date

12 Activity Report Mr. Money Mrs. Book Mr. Knight Student Activities Treasurer Bookstore Manager Sponsor Issues Pre Numbered Tickets Completes Student Activities Ticket Log Pre Numbered Tickets Change Fund Issues Activity Report Reviews Activity Report Pre Numbered Tickets Signs for Change Fund Returns Funds Completes and Signs Atiit Activity Report

13 School Cash Collection Report See USFR Page X H 21 Account Name Account Code Event Date Club Officer/Sponsor Change Fund Receipt Number Amount $ Denomination Cash Returned Receipt Book Summary Checks $ Beginning Ending $ Number Number Last Number Used Quantity Sold Price $ Total Sales.50 (Quantity X Price) $.25 Less Net Collections $.10 Cash Overage (Shortage) $.05 Total Deposit $.01 TOTALS $ Reason for Overage (Shortage): Less Change Issued ( ) Net Collections $ Receipts and Change Fund Issued To: Change Fund, Receipts, and Cash Collections Received By: Club Officer/Sponsor Signature Bookstore Manager or Designee Date Date

14 Cash Collection Report Mrs. Book Bookstore Manager Mr. Knight Sponsor Prepares Change Fund Issues Receipt Signs for Change Fund Returns Fund Returns Fund Issues Cash Collection Report and Reconciles and Reconciles Completes or Reviews Cash Collection Report Receipt Book Receipt Book

15 umm mary Dail ly Cas sh Co ollecti ion S, 19 Month Day See USFR Page X H 22 Part I Cash Collected and Held for Deposit to the Student Activities Fund Account Change Fund Receipt Number Club Account Description i (issued to) Net Cash Collections Part II Cash Count Total Net Cash Collections (Part I) $ Part III Reconciliation Checks $ Total Net Cash Collections (Part I) $ $ Total Cash Count (Part II) $ Cash Overage (Shortage) $ Reason for Overage (Shortage): TOTAL $ Summary Prepared By Summary Reviewed By Date Date $

16 Mrs. Book Mr. Money roce ess De pos sit P Bookstore Manager Cash Deposit Deposit Slip and Validated d Deposit Receipt Daily Cash Collections Summary Report Activity/Cash Collection Report(s) Student Activities Treasurer Deposit Slip and Validated Deposit Receipt Daily Cash Collections Summary Report Activity/Cash Collection Report(s) Cash Receipts and Disbursements Journal

17 Mr. Knight Sponsor Mrs. File Clerk Mr. Money Student Activities Treasurer Issue Tickets/Count Items (Before & After Sl Sale) ) Issue Tickets/Count Items (Before & After Sale) Reviews Documentation and Validated Deposit Slip Sells Tickets/Items, Receives Cash, Issues Receipts Prepares Cash Collection/ Activity Report Reviews and Reconciles Cash Collected, Tickets Returned, Cash Collection/Activity Report Reviews Revenue Posting Report Prepares Cash Collection Summary, Prepares Deposit Prepares Cash Collection Summary and Deposit Reconciles Bank Account Deposits Cash Records Revenue Deposits Cash Reconciles Bank Account Records Revenue

18 Investing Student Activities Monies Investment income OR Shall be proportionately allocated among all the student clubs Credited to the Student Council if all the student clubs provide written consent All fees must be paid by the District

19 Questions

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21 Sponsor Bookstore Manager Student Activities Treasurer Disbu ursem ment ts Approve disbursement in minutes Prepares requisition Verifies club approval and cash balance Prepares P.O. Reviews P.O. and support Signs P.O. Orders goods

22 Receiving Sponsor Receives goods Prepares receiving report Bookstore Manager Compares receiving report to requisition, PO P.O., & invoice

23 Check Process Bookstore Manager Prepares check Stamps invoice paid Student Activities Treasurer Reviews documents Signs Check Records in disbursements journal Files documents Second Authorized Signer Reviews documents Signs and mails check

24 Bank Reconciliation Performed by someone not involved in cash handling or issuing checks Helps prevent and detect fraud

25 Separation of Duties Mrs. File Clerk Mr. Money Student Activities Treasurer Mr. Knight Sponsor Prepares and Approves P.O. Prepares and Signs Check Distributes Checks Receives Goods Records Disbursement However Reconciles Bank Account However Approves P.O. Reviews and Signs Check Reviews Disbursement Posting Reviews and Approves Bank Reconciliation Receives Goods Mrs. Cursive Second Check Signer Reviews and Signs Check

26 Report to Governing Board Cash Balance Transfers Cash Balance March 31, April 30, Club 2011 Receipts Disbursements In Out 2011 Student Council $550 $700 $800 $50 $500 Chess Club Hiking Club 50 $50 0 Total $900 $780 $975 $50 $50 $705

27 Compliance USFR Compliance Questionnaire Memorandum No. 249

28 Questions (602)