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Roles & ResponsibilitiesStudent Activity Fund Accountability

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From the moment parents and students pay for a school fee, the district has a responsibility to

ensure that all School Activity Funds are collected in accordance with district policies as well as

relevant laws and regulations. KEV Group has worked with teachers, principals, secretaries and

district staff to determine the responsibilities of each member within a school district that has a

role in managing School Activity Funds.

Properly managing School Activity Funds requires actions to be taken at all levels within a

school district. Whether it be establishing policies, preparing reports, or the day-to-day

management of funds, every member of your district contributes to the integrity of your

School Activity Funds management. Teachers, principals, secretaries, and district staff are all

involved in cash handling, so it is critical to ensure that everyone has a detailed understanding

of their responsibilities.

District Finance Officials

Principals

School Financial Clerks

School Staff Members

Introduction

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District Finance Officials

Creating Guidelines

• Establish guidelines for Student Activity Funds.

• Ensure that guidelines for Student Activity Funds are in compliance with district

policy.

Communicating

• Communicate individual responsibilities and expectations to staff members.

• Reinforce to principals the need to adhere to district policy.

• Provide training to staff on the activity fund accounting system.

• Notify the superintendent and the senior business official immediately if

guidelines are not followed or funds are misused, lost, or stolen.

Establishing Controls

• Ensure there is a primary contact for each level within the organization involved

with financial transactions.

• Ensure schools have suitable accounting systems and/or technology available

for tracking Student Activity Funds.

• Ensure that there are sufficient controls in place to meet audit requirements.

Reporting

• Review, sign and date the annual district’s financial reports.

• Distribute and/or make available the district’s annual financial reports.

• Review records retention schedule periodically.

• Receive and maintain a central file of year-end financial reports from each

campus.

• Verify that schools are in compliance with the reporting requirements for

activity funds.

• Complete and/or follow-up on internal audit reports as determined by district

practice.

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Principals

Overseeing

• Ensure that the guidelines for School Activity Funds are implemented in compliance

with board Policy.

• Appoint the designated individual responsible for receipts, disbursements,

banking and record keeping.

• Ensure that there is a primary contact for each club or class involved with financial

transactions.

• Ensure that no staff members are collecting and managing funds in their own

account without the permission of the district.

• Ensure that individuals associated with the school do not enter into contracts in

the name of the school.

Communicating

• Ensure that school staff are aware of, and understand, their roles and

responsibilities.

• Notify the School Superintendent and the Senior Business Official immediately if

funds are lost or stolen.

Approving

• Review, sign and date the monthly bank reconciliation.

• Act as one of the authorized signers on the school’s activity fund checking

account.

• Act as one of the authorized signers on the school council bank account, if one

exists.

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School Financial Clerks

Managing Funds

• Count and verify funds received for deposits.

• Provide receipts for all incoming money/deposits.

• Deposit funds into school bank account on a regular basis.

• Prepare transaction reports for teachers as required.

• Complete monthly bank reconciliations.

Complying

• Implement the guidelines for Student Activity Funds as directed by the principal.

• Advise the principal of deviations from Student Activity Fund guidelines.

• Ensure that all requests for check payments are properly supported by the

principal.

• Assist with the internal audit process.

Reporting

• Track and report expenditures for each school activity.

• Prepare financial reports to demonstrate accountability.

• Keep accurate, up-to-date records.

• Ensure all records and financial reports are available for review at the school.

• Prepare annual financial report and submit to principal.

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To properly manage your School Activity Funds, it is vital that employees at every level of your district

understand the role that they are responsible for playing. KEV Group’s School Cash Suite is the

recommended School Activity Funds accounting and online payments solution for hundreds of school

districts across North America. Its advanced funds collections/disbursements modules, automated

reporting, and auditing capabilities are designed specifically to help every member of your district

better manage their School Activity Funds.

For more information, book a demo today or call us at 1.866.891.9138.

School Staff Members

Managing Funds

• Collect funds from students or other sources as applicable.

• Count funds collected and complete supporting documentation.

• Ensure funds collected are delivered to the designated individual on a regular

basis.

• Ensure details of financial activity related to their class/club are recorded

correctly.

• Ensure all disbursements have principal approval prior to making a purchase.

• If online payments are accepted, ensure that payments from students/parents

are paid online whenever possible.

Reporting

• Review, sign and date financial reports applicable to their activity account.

• Request and review transaction reports on a regular basis and advise the designated

individual of any discrepancies.

Conclusion