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MASBO September 12, 2013 CASH HANDLING Student Activity Funds, Field Trips, & Athletics

MASBO September 12, 2013 CASH HANDLING Student Activity Funds, Field Trips, & Athletics. Melanson Heath and Company, P.C. Certified Public Accountants Management Consultants Sheryl Stephens Burke, CPA, MST Sara Corduck. Chapter 71, Section 47.

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MASBO September 12, 2013 CASH HANDLING Student Activity Funds, Field Trips, & Athletics

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  1. MASBOSeptember 12, 2013CASH HANDLINGStudent Activity Funds, Field Trips, & Athletics Melanson Heath and Company, P.C. Certified Public Accountants Management Consultants Sheryl Stephens Burke, CPA, MST Sara Corduck

  2. Chapter 71, Section 47 • “The School Committee of a city, town or district may authorize a school principal to receive money in connection with the conduct of certain student activities” • “To deposit such money, with the municipal or regional school district treasurer”

  3. Internal Control - Receipts • Vulnerable to Loss • Evidence of receipt • Audit trail from collection to deposit

  4. Evidence of Receipt • Receipt book • Pre-numbered tickets • Attendance roster • Other methods

  5. Receipt Book • Practical for type of receipt • Multiple copies of receipt slip • Retain one copy • Tie batch of receipts to turnover

  6. Pre-numbered Tickets • Practical for type of receipt • Multiple admission prices • Complimentary tickets • Controls over admission • Reconciling ticket numbers • Documenting reconciliation

  7. Ticket Reconciliation Form

  8. Attendance Roster • Athletic participation fees • Class trips

  9. Athletic Participation Fees • Charge to students participating in team sports • Complications • Multiple sports • Multiple family members • Copy of roster becomes accounting • Tie entries on roster to turnover • Software

  10. Class Trips • Same roster method as athletics • Reconcile receipts to costs

  11. Other Receipts • Collections too small for receipt slips • Ticket sales too cumbersome or ineffective • No registration or roster • Two people count the cash • Retain documentation • Sealed containers

  12. Audit Trail • Retain evidence of receipt • Turnover cash (obtain verified receipt) • Who does money go to? • Centralized collection and deposit • Faculty advisor sign off • Faculty sign off of activity balances

  13. Perception of Detection • Take concerns seriously • Verify faculty advisor receipts to turnover • Verify turnovers to deposits • Verify activity balances with faculty advisors • Enforce policies • Annual audits

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