COURTESY FUNDS COURTESY FUND PURPOSE VARYING NAMES FOR TYPE OF FUND: 5/2/2017. Courtesy Fund Flower Fund Benevolence Fund Teacher Cheer Fund

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1 COURTESY FUNDS JENNIFER HORNSBY, CSFO PIKE COUNTY BOARD OF EDUCATION COURTESY FUND PURPOSE To provide a convenient method of eliminating the passing of the hat each time a group expense arises VARYING NAMES FOR TYPE OF FUND: Courtesy Fund Flower Fund Benevolence Fund Teacher Cheer Fund 1

2 USE OF COURTESY FUND PROCEEDS Funds are generally used to finance an expense that would benefit the participating group members as a whole or be identified as a gift from the entire group. Generally, expenditures are not allowable from public funds, but could be because practically anything is allowable. Guidelines should be established to specify types of expenditures and dollar thresholds and authorized purchasers. COMMON USES OF COURTESY FUNDS Faculty and Staff Birthdays Traumatic losses by member: New Baby Flood / Fire / Tornado Wedding Flowers for student sickness/death Death in Employee Family Student loss: house fire / tornado Death of Employee Christmas gifts for support staff and administrators Staff Parties: End-of-School Year or Kick-off the School Year Staff Luncheon / Christmas Dinner SOURCES OF COURTESY FUND REVENUES Self-imposed dues or fees Everyone pays $10 per semester Or $30 Certified $15 Support Fundraisers among the faculty & staff $5 to wear blue jeans on Friday 2

3 ACCOUNT CODING FOR COURTESY FUNDS XXXX-XX-X-XXXX-XXX-XXXX-XXXX-X-XXXX-XXXX Activity code will vary by system & school Fund Number 32 Non-Public Cost Center is site specific Source of Funds 7501 Non-Public Year is 0 Special Use is probably not needed REVENUES Dues or Fees from staff members Fundraisers Other Revenue Use Non-Public Revenue Codes ( ) EXPENDITURES For expenditures related to items previously described as common uses: 3

4 COMMON USES OF COURTESY FUNDS Faculty Birthdays Traumatic losses by member: New Baby Flood / Fire / Tornado Wedding Flowers for student sickness/death Death in Employee Family Student loss: house fire / tornado Death of Employee Christmas gifts for support staff and administrators Staff Parties: End-of-School Year or Kick-off the School Year Staff Luncheon / Christmas Dinner EXPENDITURES For expenditures related to items previously described as common uses: Function Code: What activities are being performed for which a service or material object is acquired? Other Expenditures Object Codes 489 Other Non-Instructional Supplies 399 Other Purchased Services Program Code Other Expenditures EXPENDITURES If truly instructional use the correct instructional coding XXXX XXXX Instructional Supplies Transfer Out XXXX XXXX Transfer to another Activity XXXX XXXX Transfer to Central Office Could potentially have grounds or building related expenses if approved

5 WRITTEN GUIDELINES OR RULES Present to membership annually Defines participation monetary contribution Very specific, detailed directive for expenditures Once approved, copy provided to bookkeeper Defines how many members to be elected to oversite committee Could allow the committee to make documented decisions about unusual or infrequent situations or events not included in the guidelines All committee members must sign requisition COURTESY FUND OVERSITE COMMITTEE Three person committee Voted each year by membership No Principal on committee Bookkeeper on committee?? Must submit signed requisitions for all expenditures One signature if falls within written guidelines All three signatures if it falls outside of the written guidelines Principal does not control this account and should not be allowed to spend funds nor persuade the membership or committee NOT THE PRINCIPAL S FUND 5

6 QUESTIONS?? COURTESY OF JENNIFER HORNSBY 6