File: DKB

SCHOOL SUPPORT ORGANIZATIONS REPORTING

The following shall apply to all public school support organizations privately incorporated or organized but using the name of the public school as the principal portion of the name of the organization or purporting to raise funds to be used for the betterment of the school.

1.    All such organizations shall register with the Assistant Superintendent of Finance for the Lafayette Parish School Board prior to the commencement of operations by that organization. Organizations already in operation as of the date of the adoption of this policy shall be granted 30 days from that date within which to register. Failure to so register shall void the organization's privilege to use the name of the school or to raise funds on the representation that the funds are in fact to be used for the betterment of the school or school related matters.
2.     For each bank account maintained by said organizations(s) outside the school accounts, the organization shall provide to the principal:
a. Copies of periodic (no less than quarterly) financial reports showing total receipts by source, and a listing of individual expenditures for the period together with a schedule of all cash deposits and investments. With the approval of the principal, copies of reports submitted to external regulatory agencies may suffice. Any reports submitted must be signed by an officer of the organization and by the faculty sponsor of that organization, and
b. Each month the monthly bank statement and canceled checks therewith together with a copy of the bank account reconciliation, such documents to be returned to the organization upon completion of expeditious review.
3.  Funds deposited into school accounts, whether restricted by the donor organization or not, shall be subject to all of the policies and regulations outlining the principal's responsibilities and authority in connection with such funds.
4.  Any funds raised for which the organization is not required to account for to a State regulatory body shall be maintained inside the school accounts with the appropriate individual identification.
5.     All fund-raising activities by said organizations are subject to prior approval by the principal (Policy File:DKA)

Adopted:    8/19/92
Revised:    4/1/98