4.A.50 School and Student Council Funds

Business Administration

 

 

Administrative Procedure: School and Student Council Funds

 

EFFECTIVE DATE:

October 27, 2004

 

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ADMINISTRATIVE PROCEDURE CODE:

4.A.50

AMENDED DATE:

 

Policy Reference

 

 

Legal Reference

 

 

 

 

 

 

 


















School funds are monies that the principal of each school may raise, hold, administer and expend in such as way as to contribute to the educational experience of the students in the school. 

 

School funds shall be used to accomplish divisional or school priorities.  This could include, but is not limited to environmental, historical, cultural, musical, recreational, cross cultural, charitable, or benevolent educational experiences inside and outside the classroom.

 

Schools funds are defined as follows:

 

Type A School Funds

 

Type A School Funds includes monies from all fund raising activities of the school, (i.e. walk-a-thons, bike-a-thons, selling candies, door to door sales, dances, hot dog days, school pictures, bottle drives, car washes, raffles, auctions).  These monies are raised by the school, or under the auspices of the school, for the sole use of that school.  They are not included in the financial statements of the Division. Funds from cafeterias and vending machines that are operated by or contracted out by the school are Type A School Funds.

Type B School Funds

 

Type B School Funds include allocations from the Division (such as per capita grants, budget allocations, specific purpose grants), vocational revenues (auto shop repairs and service, cosmetology, business education initiatives), and revenues from cafeterias and vending machines that are operated by or contracted out by the Division.  The Division, on behalf of the school, often administers these monies. When the school administers these funds, they are still considered to be Type B School Funds and would fall under the guidelines for school funds.  These funds are included in the financial statements of the Division.

 

Student Council Funds

 

Student council funds are funds that are raised by the student council, including funds from vending machines and cafeterias that are operated by or contracted out by the student council.  These funds are to be accounted for and held separately from school funds.

 

Caution Fees and Other Trust Funds

 

Caution fees and other trust funds are intended for specific purposes that relate to use of school resources (i.e. textbooks or equipment).  These funds are to be kept separate from other school funds and shall have an appropriate accounting system.

 

Schools are advised that:

 

  • Any fund becomes a Type A Fund whenever a divisional employee has signing authority or makes decisions about the fund.
  • All schools will be required to submit an annual budget to the Division Office for all major fund raising activities planned during the school year. See form below
  • Divisional approval will be required for major school trips and for all capital items costing more than $500 or that have a life of three or more years.  All items purchased with school funds become the property of the Division.
  • Employees of the Division shall not make purchases with school funds.  In order to prevent the perception of a conflict of interest, expenses incurred by an employee of the Division shall be approved before they occur.
  • All schools will be required to use an approved record keeping system and provide an annual financial report to the Division Office.  The Secretary-Treasurer will review these financial reports annually. The Division may request its auditors to periodically audit school funds.


School:____________________________   Year: ____________________________

 

Fundraising Event

Expected Revenue

Time of Year (Dates)

Reason

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Please submit this form to the Superintendent by October 30th 

                                                                                     

 

 

 

  ____________________________

                                              Principal’s Signature