File: DK (Also JHB)

SCHOOL ACTIVITIES (AND SCHOOL) FUNDS MANAGEMENT

Uniform procedures shall be established throughout the parish to assure the proper accounting for, and expenditure of, all funds under the control of individual schools. Such funds shall be subject to a periodic audit by the Central Office accounting/auditing staff.

Implementation of the procedures as developed by the Central Office accounting/auditing staff shall be the responsibility of the school principal or his/her designee.

The procedures shall assure:
1. The proper identification of monies belonging to various groups and organizations or monies raised and designated for various purposes.
2. Proper crediting of deposits with receipts issued to depositors.
3. Safeguarding of cash and prompt deposit of all monies received.
4. Proper authorization for purchases. All requests for purchases of materials and supplies in the amount of $10,000 or more and public work products in the amount of $100,000 or more shall be referred to the Central Purchasing Office and handled in line with Board policy on obtaining price quotations and bids.
5. The school principal must preauthorize, in writing, all purchases in excess of $75.00 through the use of Request for Withdrawal Forms. School purchase orders must be used for all purchases on account in excess of $75.00.
6. In the event of purchases through a school credit card, the principal must eventually obtain an explanation for each purchase and approve such purchases. Appropriate invoice details must be on file.
7. Prompt payment of bills.
8. School principals shall ensure that each club sponsor provides a financial report on trip activities for dissemination to interested members of the school community.
9. No funds shall be expended on alcoholic beverages.
10. Deficits on individual restricted accounts are not allowed.
11. An overall deficit in the non-restricted accounts is not allowed.
12. Schools are to comply with the "School Activity Fund Accounting Guidelines" promulgated by the Lafayette Parish School System Finance Department and with other accounting guidelines provided from time to time.

The Central Office shall receive monthly reports from principals of all incomes, expenditures and balances in the schools various accounts. Such reports will be available for public inspection upon request.

Current practice codified 1975
Adopted:    Date of manual adoption
Revised:    8/16/95
Revised:    9/02/98
Revised:    9/20/00
Revised:    11/17/04

Note: Related statements are coded DFGA, DID, DJED, DKA, DN