Training for Campus Bookkeepers

This is the first in a series of mandatory training sessions to provide you with the knowledge necessary to manage and account for the activity fund at your campus

Find and use the online tools available including the CFD (Regulation)

Learn about the different types of campus funding

Learn the purpose of activity funds and what controls the district has in place for activity fund management

Go over Bookkeeper responsibilities for the management of activity funds as well as the responsibilities of Principals and Account Sponsors

Find out what forms, documents, and reports are used to account for Activity Funds

Learn how to handle receipts, disbursements, returned checks, deposits, monthly reconciliations, sales tax and fundraisers

Get an overview of future training sessions

Local

Grants

Activity Funds

Local

Grants

Activity Funds

Local funds are your budget funds from AISD. The account numbers of these funds generally begin with 199.

Grants can be state or federal. To find out what grants are available on your campus, contact the grants department.

The Activity Funds account is the cash account on your campus.

It is important for you to be knowledgeable about how activity funds are acquired, what these funds can or can’t be used for, and how to account for these funds.

The district can and will prosecute for theft of activity funds.

Board Approved Activity Funds Management CFD (Regulation)OnlineThe Bookkeeper is responsible for

reading it in its entirety

Superintendent’s General Controls over Activity FundsWritten in response to a large theft

that occurred on an AISD campusDescribes the roles and responsibilities

of the bookkeeper, the principal, the sponsor and the Internal Audit department in maintaining proper controls over campus activity funds

Used to account for funds held by a school in the capacity of a trustee or as an agent for campus organizations and the general administration of the school

Designed to Promote the general welfare of the school and the educational development and morale of all students.

Principal Provide for the safekeeping of funds. Proper accounting, administration, and authorization of all transactions. Proper expenditure of funds. Adequate training of all personnel who handle activity funds.

Bookkeeper Maintain accounting records. Complete bank, COR, returned check and savings account reconciliations. Issue checks authorized by principal. Receive and deposit funds into the schools bank account. Reconcile bi-monthly with account sponsors’ records.

Sponsor Safeguarding and accounting for all student activity funds entrusted to him or her. Maintain account records. Reconcile bi-monthly with bookkeeper records. Maintain a positive balance at all times. Sign the form titled “Responsibilities of Activity Fund Sponsors”. Note: Bookkeeper cannot also be account sponsor

Principal Provide for the safekeeping of funds. Proper accounting, administration, and authorization of all transactions. Proper expenditure of funds. Adequate training of all personnel who handle activity funds.

Bookkeeper Maintain accounting records. Complete bank, COR, returned check and savings account reconciliations. Issue checks authorized by principal. Receive and deposit funds into the schools bank account. Reconcile bi-monthly with account sponsors’ records.

Sponsor Safeguarding and accounting for all student activity funds entrusted to him or her. Maintain account records. Reconcile bimonthly with bookkeeper records. Maintain a positive balance at all times. Sign the form titled “Responsibilities of Activity Fund Sponsors”. Note: Bookkeeper cannot also be account sponsor

Bookkeeper must reconcile Checking AccountSavings AccountCOR AccountClearing AccountReturned Check Account

Remember Deadlines – Don’t wait until the due date to begin!!

• Cash receipt books are used for recording cash received and provide support for each bank deposit

• Pre-numbered cash receipt books are ordered from the warehouse – Instructional 0251

• The Sponsor Deposit Slip is a record of a deposit given to the bookkeeper by a faculty sponsor

•It is ordered from the warehouse – Forms F464

• Used to hold Money collected by the sponsor

•Turned in along with Sponsor Deposit slip

•It is ordered from the warehouse - Instructional 0042

• The deposit slip serves as a record for the specific date that receipts were credited to the bank account

•Slips are ordered as needed from the bank

•It must be printed with the name of the district and the school name followed by “Activity Fund”

•Plastic Bank Deposit Bags for coins are also available through the bank (BOA requires < $25 in coins per bag)

• Order from warehouse- PAR forms F466

• This Form documents the principal’s authorization of the issuance of an Activity Fund check

• Pre-numbered checks are used to disburse all funds from the Activity Fund checking account.

• Checks must be pre-printed with the name of the district and the school name followed by “Activity Fund”, and have two signature lines

• Order from bank or vendor

• Sent by vendor to document purchase

•Used to record the receipt of amounts < $5

•Available online

• Sent by the bookkeeper to all sponsors of activity fund accounts every other month

• Sponsor fills out and turns in to Bookkeeper

• The bookkeeper will compare the report to the AL Account Activity Monthly Report (in IFAS) and resolve any discrepancies

• Form is available online

• Filled out by sponsor and turned in to principal

• Form is available online

• Ordered from warehouse – Form AP-1002

• Bookkeeper must file reimbursement requests monthly following the guidelines provided by the Finance Department

COR Reconciliation Report

Clearing Reconciliation Report

Returned Check Reconciliation Report

General Journal worksheet

• Activity Funds CDD Reports including AL: Account Activity Monthly Report, AL: Account Balance Report, and AL: Detail Report are used in the monthly reconciliation process

• Reports are generated from data that bookkeeper enters into IFAS

Two persons involved – Sponsor and Bookkeeper

Bookkeeper verifies Sponsor Deposit Slip

Receipts Sponsor Combines Receipts Makes Bank Deposit

1. Students Turn in Money to sponsor2. Sponsor receipts each student3. Sponsor combines students funds and turns

in 1 sponsor deposit slip with funds intact to bookkeeper.

4. Bookkeeper receives sponsor deposit and if she is unable to count the money immediately, signs the ‘Received By’ line on the Sponsor Deposit slip and gives the pink copy to the sponsor. When able to count the money immediately, she will then verify the deposit, sign the ‘Counted By’ line, write the receipt, attach receipt to yellow copy and give back to the sponsor

5. Bookkeeper combines all sponsor deposits for the day to make one deposit to the bank.

According to the CFD: Must be made daily (unless the amount to be

deposited is less than $100). Receipts are written daily for each sponsor

deposit slip. Sum of receipts must equal the deposit. Sponsor deposit slips and vendor check stubs

are filed by deposit with bank receipt attached. Deposits are posted into IFAS software by

receipt (matching each deposit on the bank statement).

Deposits should be made intact - do not cash checks or make change with Deposit Money.

When checks are returned by the bank marked “insufficient funds”, the bookkeeper or sponsor should make every effort to collect the amount of the check and any bank fees immediately

After the collection (in the form of cash or money order), the original check is returned to the maker, and funds are deposited.

No receipt is written for the payment of a returned check

1. When check is returned by the bank marked “insufficient funds”.

Debit: Returned check Credit: Checking

2. When Bookkeeper makes a separate deposit to the bank after collection

Debit: Checking Credit: Returned Check

Returned checks that are uncollectable Returned checks that are uncollectable are charged to the account which are charged to the account which originally collected the bad check.originally collected the bad check.

Debit : the account which originally collected the check

Credit : Returned Check.

General Policies

Disbursements must be authorized by the Principal

All Checks must be filled out completely- no unsigned blank checks

There must be two signatures on checks

Bookkeeper is not allowed to sign checks

Purchase Approval / Request for Check

Principal has the option to approve or disapprove any Purchase Approval Request

The PAR must always be completed before a check is written.

Kept on File by monthThe Original Invoice is to filed with the Purchase Approval Request

Bookkeeper must keep a running balance in checkbook.

Bookkeeper must not charge checks to negative accounts

Purchases cannot be made online by direct debit to campus checking accounts.

Central Office Reimbursement

1. Bookkeeper writes check to purchase or reimburse emergency item.

2. Bookkeeper submits Reimbursement Request for Purchases Through Activity Fund form to Finance

3. Finance reimburses school with a district check out of budgeted funds.

4. Bookkeeper deposits district check into the Activity Account and posts the receipt to the COR Account

Each Organization is allowed to have three fundraisers per school year

Each fundraiser should last no more than 2 weeks

An Application for Fundraiser must be completed in full by the sponsor before the fundraiser is held and submitted to the principal for authorization.

All cash received during a fundraiser must be turned into the bookkeeper daily intact (sponsor must turn in money in the form it was received, e.g. pennies for pennies) along with a Sponsor Deposit Slip. All cash received during a Fundraiser must be deposited.

Sales Summary Reports must be completed by the sponsor and turned into bookkeeper for principal’s signature within 2 weeks of the completion of the fundraiser.

Fundraisers can be taxable or non-taxable.

Public schools are exempt from paying the state sales tax when purchasing items used in providing education.

The school should provide a vendor with a Texas Sales Tax Exemption Certificate if it is requested.

Purchases made by individuals for their own use are not tax exempt even though they are related to the school or a school function. e.g. letter jackets, uniforms, class rings

Information on taxable versus non-taxable sales can be found online…

Campus organizations are allowed to have two (2) one-day tax free sales per calendar year (January 1 to December 31)

Either all sales must occur on one day or all of the orders must be delivered on one day (e.g. yearbooks)

Must be designated on Application for Fundraiser

Sponsor designates on Sponsor Deposit Slip whether sale is taxable or non-taxable

The bookkeeper generates a quarterly sales tax report of taxable and nontaxable sales and completes the Combination Sales Tax Report.

The report as well as any sales tax due will be sent to the AISD Finance Department.

The check written for the total sales tax due will be posted to the campus accounts that collected the sales tax

1. Policy and Procedure

2. IFAS AL Beginning Bookkeeping

3. Activity Fund Bank Reconciliation

4. Additional Workshops (offered as needed)

5. Mandatory Yearly Updates