|
Business
& Non-Instructional Operations |
3452-AR |
RULES AND REGULATIONS
GOVERNING
ADMINISTRATION OF ASSOCIATED
STUDENT BODY FUNDS (ASB)
A.
Purpose and Scope
1.
To establish administrative regulations for the proper control and use
of student body funds
2. To direct student body organizations in the financial management of student body funds in accordance with the Education Code and to ensure that student body funds are raised and expended to promote the general welfare of the student body.
B.
General
The district superintendent is the person who ensures the implementation of board policies. The Director of Fiscal Services, under the direction of the Assistant Superintendent, Administrative Services, shall prescribe appropriate accounting procedures for student body financial records (A.S.B). The principal or designee shall be responsible for the proper conduct of all student organization financial activities. Clubs in schools must be composed entirely of students enrolled at the site. These clubs, also known as Trust Accounts, must have the approval of student council and the principal. It shall be the prerogative of the principal to veto any action of the student council when the principal believes such action is contrary to the best interests of the school or in conflict with the provisions of the rules and regulations governing student body activities as set forth herein.
C.
Procedure
1.
Financial Management
a.
Student bodies shall prepare an annual budget. The budget shall be prepared and delivered to
the principal or designee before earning or spending any money for the
year.
b.
Receipts shall be issued for all cash belonging to any student body
organization, or for which student body organizations are accountable. All cash received by student organizations
shall be deposited in a bank approved by the Board of Education.
c.
All obligations for the expenditure of money that are incurred by
student body organizations shall be recorded by the issuance of a purchase
order authorized by the student body council. All disbursements are for items
that are included in the budget. All
disbursements of money belonging to student body organizations shall be made by
check drawn against the bank authorized as a depository by the Board of Education.
All checks issued shall be supported by a purchase order, evidence of receipt
of the merchandise or completion of service and an itemized invoice.
d.
All records and documents pertaining to the financial affairs of the
student body organizations shall be retained and made available to the Assistant
Director, Fiscal Services and the district's auditor upon request.
e.
A petty cash fund, not to exceed a total of $150.00 in a senior high
school, $100.00 in a middle or elementary school, may be established for
expenditures under $25.00. No cash shall be withdrawn from this account without
an itemized statement signed by the organization advisor and the principal
and/or his designee. Both the petty cash fund and the respective accounts
concerned shall be charged properly for such expenditures.
f.
No large reserve fund should be accumulated unless approved in writing
by the superintendent or his designee.
2.
Fund-Raising Activities
a.
In general, fund raising activities will be promoted on the campus or
in connection with school-sponsored events. Community sales and off-campus
events shall be permitted only upon the approval of the principal. Merchandise
may be sold at school events with the net proceeds distributed as determined by
the student council.
b.
If a school has a student body store, it will be a part of a program
with emphasis on providing practical experience to the student. Net proceeds
shall be distributed as determined by the student council.
3.
Use of Student Body Funds:
a.
Since individual achievement may be of such a nature as to bring honor
and recognition to the school as well as the individual, expenditures may be
made for athletic letters, service awards and other items of a similar nature.
Student body money may be expended for scholarships or contributions toward
scholarships to be awarded to students of the school. Student body money may be
used for honor recognition banquets and programs.
b.
If a proposed campus improvement project receives the approval of the
principal, superintendent and the Board of Education and funds are specifically
raised for such purpose, expenditures may be made for the improvement and
beautification of the school campus.
c.
Expenditures may be made for refreshments or meals served to community
groups or individuals who are performing a service for the student body and to
persons on official business for the student body.
d.
Student body money shall not be used for any purpose, which represents
a loan to employees of the district, or any person other than students.
Emergency loans may be made to students for lunches, bus fare, etc., only upon
authorization of the principal. Student organization money may be expended to
support the foreign student exchange program including school lunches for
foreign exchange students.
4.
Accounting for Student Body Funds
a. The accounting cycle or series of procedures required to process financial transactions throughout a fiscal period are listed in chronological order as follows:
1)
Recording transactions in books of original entry
2)
Posting debit and credit transactions from the journals to the General
Ledger accounts
3)
Taking a trial balance of the general ledger and seeing that the
subsidiary records (journals) are in agreement with their controlling ledger
account
4)
Making adjustments
5)
Preparing financial statements
6)
Closing the books
b.
Supplemental Accounting Records
1)
The Ticket Report or Cash Receipt
2) The Purchase Order
3) The Bank Deposit Slip
D.
Reports Required
1.
Budget
2.
Financial Statements
E.
Records Retention
In accordance with California Administrative Code,
Title V
F.
Responsible Administrative Unit
Director of Fiscal Services
G.
Approved By:
|
Don Trigg |
|
Dennis M. Smith |
|
|
Responsible
Division Head |
Date |
Superintendent |
Date |