School Activity FUnds

1. School Activity FUnds Stacey Ashy, School Accounting Auditor & Internal Control Officer Stephanie LaBorde, School Funds Accountant Claudia Wallace, School Funds Clerk

2. Audit Evaluation-Purpose • Developed to make audit reporting objective and easier to understand. • Gives school administration & audit committee an easy to understand, objective, and clear idea of the school’s accounting practices. • Gives principal key focal areas for improvement and the ability to easily track progress from audit to audit.

3. Audit Evaluation-Overview • Audits will be evaluated based on seven sections • Disbursements • Voided Checks • Receipts/Deposits • Class Fees • Employee Appreciation & Courtesy Accounts • Fundraisers • Athletic Events • Each section is tested based on guidelines pertaining to that section and will receive its individual rating. • The ratings are totaled then averaged to give the overall audit rating.

4. Audit Evaluation-Disbursement

5. Audit Evaluation-Scale

6. Audit Evaluation-Summary

7. Audit Evaluation • Any principal that was audited in the 2010-2011 school year can request in writing to receive their rating. • This rating is to be used for informational purposes only.

8. Business Meal-Page 14 • The following policies relate to expenditures by schools for business meals for administrators, teachers, or LPSS personnel. • Business meals are limited to 2 meals per year funded by the school’s general fund • Meals must receive prior WRITTEN approval from the principal • Meals cannot exceed $10/employee • School accounting should be sent the meeting’s agenda (agenda must indicate a working lunch or an abbreviated lunch break), copy of sign-in sheet, and details of the meal’s expenses immediately following the business meal. Any meals in excess of the 2 business meals must be funded through the Courtesy Account or Employee Appreciation Account and are subject to those guidelines.

9. Class Fee Approval Form

10. Class Fee Approval Form • Teacher must keep a copy with their financials. • Secretary/Bookkeeper must keep copy with school’s financials. • Parents must be notified in advance and in writing of the DETAILED use of the supply fee being collected.

11. Employee Appreciation Notification Form

12. Employee Appreciation • All deposits to the Employee Appreciation Account should be supported by a deposit slip accompanied by the proper documentation. Examples of proper documentation shall include: • Fundraiser-a copy of the notification to parents and/or students of how funds will be used; • Donation-a copy of the letter from the donor which specifies that the funds are to be used for employee appreciation expenditures. • Donation letters should be sent to School Accounting with the monthly packets. • Detailed notes should be provided in EPES. • Documentation for all expenditures should list the name of each individual for whom a meal or allowable gift is purchased. (Exception: If most or all of the employee groups are included, then a listing of the employee group will satisfy this requirement.)

13. Fundraisers

14. Fundraisers

15. NSF Clearing Account • Page 8 of guidelines • ALL schools must have a separate activity account set up for NSF checks. • NSF checks should be posted to the NSF Account by journal adjustment. • Issuer’s Last name, first name-check # • Also good idea to include the activity account in your description • If check is made good, simply do a deposit to NSF Account. • Please note the issuer’s last name, first name-check # on the deposit description. • If check is not made good after 45 days, charge should be covered by activity account the check was originally deposited to. • Detailed breakdown of NSF balance should be provided with monthly packet to School Accounting.

16. Beginning of Year • The following documents must be completed with a copy forwarded to School Accounting • SAF #8: Principal/Assistant Principal/Secretary/Bookkeeper Compliance Acknowledgment Form • SAF #9: Sponsor/Teacher Responsibility Compliance Acknowledgment Form • Chart of Accounts-signed by all sponsors • SAF #12: Class Fee Approval Form (school records ONLY)

17. Questions • When should the schools tag items purchased with school funds? • It is recommended that all items should be tagged and tracked by an inventory/fixed asset custodian. • Is a tag required or can a permanent marker be used to reflect the property of the school? • A tag should always be used, but is a good idea to duplicate the number with a permanent marker in case the tag is removed. • Can the schools pay from faxed or email invoices? • Yes. Schools should not pay based on statement or estimates. As per your guidelines on pg 9 “No expenditures may be made on the basis of vendor statements. Original invoices are required for all expenditures when available.”

18. Questions • How should employees performing services outside their job description (e.g. teacher acting as a DJ after hours for student dance) be paid? • All employees payments must follow the Supplemental Pay Schedule as found on the Human Resource webpage.