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SCHOOL ACTIVITY FUNDS Stacey Ashy, School Accounting Auditor & Internal Control Officer Stephanie LaBorde, School Funds Accountant Claudia Wallace, School Funds Clerk

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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 schools accounting practices. Gives principal key focal areas for improvement and the ability to easily track progress from audit to audit.

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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.

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Audit Evaluation-Disbursement

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Audit Evaluation-Scale ScaleValueRating 100-934Excellent 92-853Good 84-752Fair 74-671Unacceptable 66-00Non-Compliance

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Audit Evaluation-Summary

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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.

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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 schools general fund Meals must receive prior WRITTEN approval from the principal Meals cannot exceed $10/employee School accounting should be sent the meetings agenda (agenda must indicate a working lunch or an abbreviated lunch break), copy of sign-in sheet, and details of the meals 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.

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Class Fee Approval Form

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Teacher must keep a copy with their financials. Secretary/Bookkeeper must keep copy with schools financials. Parents must be notified in advance and in writing of the DETAILED use of the supply fee being collected.

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Employee Appreciation Notification Form

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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.)

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Fundraisers

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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. Issuers 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 issuers 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.

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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)

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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.

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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.