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EASTON AREA
SCHOOL DISTRICT
No. 618
SECTION:
FINANCES
TITLE:
STUDENT ACTIVITY FUNDS
ADOPTED:
September 21, 2006
REVISED:
618. STUDENT ACTIVITY FUNDS
1.
Purpose
SC 511
The district will adhere to the provisions of law, which provides for the Board to
control, manage and supervise student activity funds as it deems necessary and
proper.
2.
Definition
3.
Authority
SC 511
For purposes of this policy, student activity funds shall include the funds of Board-
approved student groups. Student activity funds shall be raised by students and
expended for purposes related to the activity, with student participation in the
decision making process regarding these areas.
Student activity funds are not part of district funds but must be approved by the
Board. The Board adopts this policy to ensure proper supervision of student activity
funds under the district's responsibility.
4.
Delegation of
Responsibility
The Superintendent or designee is responsible for developing and implementing
administrative procedures governing student activity funds.
Pol. 811
The building principal is responsible for working with students and advisors,
implementing policies and procedures, and maintaining fiscal records. The principal
shall serve as custodian of the funds and shall countersign all checks drawn upon
them. The principal shall be bonded.
Any student organization, club, society, or class that is functioning within a school
building must have an account in the respective school's student activity fund. That
account must be managed by an advisor who is a member of the district staff and a
treasurer who is a student. No Extra Pay for Extra Duty units will be paid to any
individual who fails to comply with these mandates. No school-sponsored group or
organization, as defined by the awarding of EPFED units, shall establish any
accounts outside of the district-approved activities fund.
5.
Guidelines
Each student activity covered by this policy must be recognized and budgeted by the
student organization before funds can be collected or disbursed in the name of the
group.
618. STUDENT ACTIVITY FUNDS - Pg. 2
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All student activities shall be on a self-sustaining basis, except for situations
approved by the Board.
SC 511
Pol. 619
The treasurer or custodian shall be required to maintain an accounting system
approved by the Board, deposit the funds in a depository approved by the Board,
submit a financial statement to the Board quarterly or more often, at the direction of
the Board, and submit the accounts to be audited in like manner as the accounts of
the district.
SC 440.1, 623
Funds of any student body organization may be deposited or invested in banks
whose accounts are insured by FDIC or investment certificates or withdrawable
shares in state-chartered savings and loan associations doing business in-state and
insured by FDIC or FSLIC.
Funds collected shall be turned in to the custodian of the fund before the end of each
school day, and they shall be safeguarded until deposited as soon as possible.
SC 511
Records shall be maintained of the receipt and disbursement of all funds in
designated accounts, according to the bylaws of the activity involved.
Disbursements from such funds shall be made only by check upon the request of the
authorized advisor and the approval of the fund custodian. Disbursements shall be
supported by invoices or verified documentation.
All checks shall be signed by two (2) individuals authorized to approve such
disbursements.
SC 511, 807.1
All purchases of materials or supplies by any organization, club, society or group, or
by any school or class shall be made by the purchaser in accordance with the
requirements of law.
All funds shall be of an exchange nature, and large balances should not be permitted
to accumulate. Money should not be raised or collected unless there is a definite
purpose for doing so.
SC 511
All funds accumulated in the name of a specific activity must be closed out annually,
and any residual funds shall revert to the same group for the following school year.
618. STUDENT ACTIVITY FUNDS - Pg. 3
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Graduating Classes
All graduating classes, after payment of all financial obligations and prior to
graduation, shall make a commitment for distribution of the funds remaining in the
class account to school activities of the class's choosing, such as a senior gift or
scholarship fund.
Funds may not be disbursed or set aside for future obligations, such as class
reunions.
School Code
440.1, 511, 623
Board Policy
619, 811