usfr student activities webinar presented by amanda winn and elizabeth whitaker august 31, 2011
TRANSCRIPT
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USFR Student Activities Webinar
Presented ByAmanda Winn and Elizabeth Whitaker
August 31, 2011
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Outline• Importance of Controls for Student Activities• What activities are student activities?• Cash Receipt Process• Cash Disbursement Process• Reconciliation Procedures• Questions
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Student Activities
• Increased risk of loss or misuse• How can you protect your district–USFR Procedures (online)www.azauditor.gov/manuals_schooldistrict.htm
–Training
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Separation of Duties
3 Key Duties
• Cash Handling
• Authorization
• Record Keeping
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Student Activities Monies ARE:
Monies raised by the EFFORT of STUDENTS with Governing Board Approval
• Student clubs• School plays• Student led fundraisers
NOT
• Auxiliary Operations• Extracurricular Activities Tax Credit • PTOs and Booster Clubs
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Student Activities FundraisersApproval must be obtained from
the Governing Board
No Raffles or Games of Chance- AG Opinion I84-018
General Approval Specific Approval
• Dues• Concessions• Ticket Sales• Publications• Recurring Sales
• Donations/gifts (to the specific club)
• Special Event• Joint Fundraisers
BIN
GO
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Other Governing Board Actions
• A.R.S. §15-1122– Student Activities Treasurer• Governing Board Appointed• Responsible for Oversight• Reports to Governing Board Monthly
– Bank Account– Check Signers
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Key Questions to Determine if Monies are Student Activities $
• Who decides how the money is spent?• Who collects the money?
Yearbook•There is a club•Students order•Money collected by sponsor•Students authorize expenditures
Yearbook•There is a class (not a club)•Students order•Money collected in school office•No student authorization of expenditures
Student Activities?
Yes
No
Example:
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$$ Monies $$
Joint Fundraisers•Proceeds can be allocated • among multiple student clubs• among club and PTO or club and Auxiliary Operations
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Recording Collections
• Monies collected must be recorded:• Activity Report OR• Cash Collection Report
Monies collected must be physically safeguarded at all times!
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R E P O R T N O .
S C H O O L D IS T R IC T N O .
A C T IV IT Y R E P O R T
School _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Account N a m e Account C o d e D a te Event _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Club O ff ic e r /S p o n so r Change Fund Receipt N u m b e r Amount $
T ic k e t T yp e
Ticket N u m b e rs Issu e d
From T o
Next T ic k e t Number to B e
Issu e d
B e g in n in g Ticket N u m b e r
U se d
N u m b e r
S o ld
P ric e
T o ta l S a les
$ $
C ash
Denomination Returned Total Deposit $ _ _ _ _ _ _ _ _ _ _ _
C h e c k s $
$ 1 0 0 .0 0
5 0 .0 0
2 0 .0 0
1 0 .0 0
5 .0 0
2 .0 0
1 .0 0
.5 0
.2 5
.1 0
.0 5
.0 1
Total $
L ess Change Fu n d
T o ta l D e p o s it $
Less Total Sales _ _ _ _ _ _ _ _ _ _ _
C ash O v e ra g e (S h o rta g e ) $
Reason for Overage (S h o rta g e ): _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Tickets and Change Fund Issued T o :
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Club Officer/Sponsor S ig n a tu re _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ D a te Change Fund, Tickets, and Cash C o llec tio n s Received B y: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Bookstore Manager or D esig n e e _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ D a te
Activity Report See USFR Page X-H-19
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Activity Report Mr. Money Mrs. Book Mr. Knight
Reviews Activity Report
Returns Funds
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R E P O R T N O .
S C H O O L D IS T R IC T N O .
CASH COLLECTION R E P O R T
School _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
A c c o u n t N a m e Account Code _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
E v e n t Date _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Club Officer/Sponsor _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
C h a n g e F u n d R e c e ip t N u m b e r A m o u n t $
D e n o m in a tio n C a sh R e tu rn e d R e c e ip t B o o k S u m m a ry
Checks $ Beginning E n d in g
$ 1 0 0 .0 0
5 0 .0 0
N u m b e r N u m b e r
2 0 .0 0 L a s t N u m b e r U se d
1 0 .0 0
5 .0 0 Q u a n tity S o ld
2 .0 0
1.00 Total S a le s
P ric e $
.5 0 (Quantity X Price) $
.25 Less Net Collections $
.10 Cash Overage (Shortage) $
.05 Total Deposit $
.0 1
TOTALS $ Reason for Overage (S h o rta g e ):
Less Change Issued ( )
Net Collections $
Receipts and Change Fund Issued To: Change Fund, Receipts, and Cash C o lle c tio n s Received B y:
Club Officer/Sponsor Signature Bookstore Manager or D e s ig n ee
Date D a te
Cash Collection Report See USFR Page X-H-21
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Cash Collection Report
Bookstore Manager
Prepares Change FundIssues Receipt
Mrs. Book
Sponsor
Signs for Change FundReturns Fund
Completes or Reviews Cash Collection Report
Receipt Book
Mr. Knight
Receipt Book
Issues Cash Collection Report and Reconciles
Returns Fund
and Reconciles
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Dai
ly C
ash
Colle
ction
Sum
mar
y
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ SCHOOL DISTRICT N O .
SCHOOL _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
STUDENT ACTIVITIES DAILY CASH COLLECTIONS S U M M A R Y
____________________, 19 _ _ _ Month D a y
Part I — Cash Collected and Held for Deposit to the Student Activities Fund A ccou n t
Change F u n d Receipt N u m b e r
C lu b A c c o u n t
Description (issued to )
Net C a sh C o lle c tio n s
$
T o ta l N e t C a s h C o lle c tio n s (P a rt I) $
Part II — Cash Count Part III — R econ c ilia tio n
C h e c k s $ T o ta l N e t C a s h C o lle c tio n s (P a rt I) $
$ 1 0 0 .0 0
50.00 Total Cash Count (Part II) $
2 0 .0 0 10.00 Cash Overage (Shortage) $
5 .0 0 2.00 Reason for Overage (S h o rta g e ): 1 .0 0
.5 0
.2 5
.1 0
.0 5
.0 1
TOTAL $
Summary Prepared B y D a te
Summary Reviewed B y D a te
See USFR Page X-H-22
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Activity/Cash Collection Report(s)
Deposit Slip and Validated Deposit
Receipt
Daily Cash Collections
Summary Report
Daily Cash Collections
Summary Report
Activity/Cash Collection Report(s)
Cash Receipts and Disbursements
Journal
Dep
osit
Proc
ess Student Activities
Treasurer
Deposit Slip and Validated Deposit
Receipt
Mr. Money
Bookstore Manager
Cash Deposit
Mrs. Book
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Sponsor
Issue Tickets/Count Items (Before & After Sale)
Sells Tickets/Items, Receives Cash, Issues Receipts
Prepares Cash Collection/ Activity Report
Prepares Cash Collection Summary, Prepares Deposit
Deposits Cash
Records Revenue
Reconciles Bank Account
Reviews and Reconciles Cash Collected, Tickets Returned,
Cash Collection/Activity Report
Prepares Cash Collection Summary and Deposit
Records Revenue
Reviews Revenue Posting Report
Reconciles Bank Account
Mr. Knight
Clerk
Issue Tickets/Count Items (Before & After Sale)
Mrs. FileStudent Activities
Treasurer
Reviews Documentation and Validated Deposit Slip
Mr. Money
Deposits Cash
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Investing Student Activities Monies
Investment income • Shall be proportionately allocated among all the
student clubs
OR• Credited to the Student Council if all the student clubs
provide written consent
All fees must be paid by the District
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Questions
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Disbursements
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Dis
burs
emen
ts
Orders goods
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Receiving
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Check Process
• Records in disbursements journal
• Files documents
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Bank Reconciliation
• Performed by someone not involved in cash handling or issuing checks
• Helps prevent and detect fraud
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Mrs. File
Clerk
Prepares and Approves
P.O.
Prepares and Signs
Check
Records Disbursement
Distributes Checks
Reconciles Bank Account
Separation of Duties
However
Mr. MoneyStudent
Activities Treasurer
Approves P.O.
Reviews and Approves Bank Reconciliation
Mr. Knight
Sponsor
Receives Goods
Reviews and Signs Check
Receives Goods
Second Check Signer
Reviews and Signs Check
Mrs. Cursive
Reviews Disbursement
Posting
However
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Report to Governing Board
Cash Balance Transfers
Cash Balance
ClubMarch 31,
2011 Receipts Disbursements In OutApril 30,
2011
Student Council $550 $700 $800 $50 $500
Chess Club 300 500 175 625
Hiking Club 50 $50 0
Total $900 $780 $975 $50 $50 $705
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Compliance
• USFR Compliance Questionnaire –Memorandum No. 249