HOT TOPICS IN FINANCE Presented by: Jessica Annis &
Christie Vuleta
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NEW TOPICS FOR FY15 Redbook Updates Fund 22 District Activity
funds Travel Policy Munis Workflow Contract Guidelines/Fee
Waiver
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REDBOOK PURPOSE Purpose: Protect funds raised by students
Protect students against funding responsibility
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REDBOOK- FUNDS CAN BE SPENT ON? operating costs (same rule as
prior Redbook version) School activity funds shall not be expended
for operating costs (same rule as prior Redbook version) Must
exclusively benefit student clubs or organizations Cannot be used
to support the districts own programs (GAAP) Go back to the purpose
of the Redbook
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REDBOOK- OPERATING EXPENDITURES Operating transactions are
incurred in the course of the operating activities of the
institution Its what were here to do Anything supporting regular
operations
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OPERATIONAL VS. DIRECT STUDENT BENEFIT Even if there is direct
student benefit, you cannot use school activity funds to pay for
expenditures which are operational in nature
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REDBOOK- OPERATING COSTS EXAMPLES Renovation or maintenance of
school facilities or buses Additions or improvements to buildings
or grounds Furniture for offices Library Books Professional
development Textbooks for general use Salaries for district-created
positions Substitutes incurred in normal course of business If paid
with school activity funds, driver salary/benefits and fuel only
Cannot pay for maintenance or depreciation of school bus unless
used only by the student group Example: charter bus rental iPads
Software License
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Its Not Can I? Its How Can I?
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FUND 22 What is Fund 22? Certain student activity funds
deposited at the district level. District Activity Funds are not
subject to Redbook spending regulations. Funds will be deposited
into the schools bank and entered into the CPA program in a sweep
account. The sweep account must contain no expenses other than the
sweep to the district.
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STUDENT ACTIVITY DISTRICT ACTIVITY Must be deposited at the
school level Raised by student fundraising Expended with input from
student groups Can be deposited at the school or the district
Raised by school, district, or staff Expended with input from
staff
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POTENTIAL STUDENT ACTIVITY FUNDS Funds specifically raised by
student groups Expended by student groups Chorus Club Debate Team
Class of 2016 Beta Club Cheerleading Club Band FFA
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POTENTIAL DISTRICT ACTIVITY FUNDS FUND 22 Support from
co-curricular and extra-curricular activities Not raised and
expended by student groups Gate receipts Book fair Locker fees
Parking fees School plays Field trips Picture sales Other
commission sales
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SCHOOL BANK ACCOUNTDISTRICT BANK ACCOUNT School Activity Funds
Subject to Redbook No operational expenditures District Funds Not
subject to Redbook Any other school related expenditures Narrow
Expendability Increased Flexibility
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FUND 22 - TESTS Redbook test: Is the expenditure operational in
nature? If so, cant use school funds District test: Does the
expenditure have an school related purpose? If so, you can use
district funds
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FUNDRAISING You need a separate decision paper and Principal
signed F-SA-2a form for each school wide fund raiser or Booster
Group school wide Fundraisers. In the Decision Paper, please
include the projected amount of funds to be raised and if students
will be offered incentives to sell items. Send the Decision Paper
in Microsoft Word to Gary Milby by email by the 1 st of the month
so it can be reviewed and put on the Board Agenda. Include the
principal signed F-SA-2A form. Make sure you fill out the section
on Purpose of Fundraiser. Sponsor of the activity should fill out
any appropriate F-SA form for fundraising, ticket sales and
inventory not the school bookkeeper. Scan it and send to Associate
Supt Finance ( Gary Milby) in the same email. Do not put a hard
copy on the pony. I need them electronically so they can be posted
on the Board Agenda.
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FUNDRAISING Review Attached Policy 9.33 Fund Raising Activities
All school wide fund-raising activities, including the proposed use
of the funds, must be approved by the Board. Requests must be
channeled through the Principal and Superintendent. School wide
school sponsored fund raising activities are restricted to school
pictures and library book fairs. Copies of the signed contract
shall be filed with the Superintendent. All other fund-raising
activities, including the proposed use of the funds, shall be
approved by the Principal or a designee. (Please remember that
student fund raising activities: (a) cannot be deposited into the
Sweep School Activity Account to be transferred to Fund 22; (b)
cannot be used for operational purpose, (c) can only be used on the
purpose for which funds were raised.) R ESTRICTIONS : D OOR - TO -
DOOR SALES OR SOLICITATIONS SHALL NOT BE MADE BY STUDENTS FOR ANY
FUND - RAISING ACTIVITY. Please make sure a F-SA-2B form is
completed once the fundraiser is completed. This should be kept in
the folder with the fundraiser as part of the required
documentation.
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WORKFLOW Mass quantities of purchase orders may require a login
to Munis to approve, instead of email. Check junk mail folder in
email. For month end reasons all purchase orders need to be
approved on the last day of the month timely to get posted. You may
contact Jessica Annis for temporary approvers or an alternate
approver in your absence. Please contact Jessica Annis or Sarah
Decker for login information or password reset.
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HCS- TRAVEL POLICY Travel procedures: Requests for
reimbursements from district funds should be filed within sixty
(60) days of the trip with the exception that June travel must be
filed by July 10 of new fiscal year. Receipts are required for all
reimbursements. Receipts are defined as any preprinted invoice,
from a hotel, motel, restaurant or other establishment, showing the
date of service, the amount charged for the service, the location
where the service was performed and a description of the
expenditure.
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HCS- TRAVEL POLICY 0581 Travel Mileage - Amounts paid for
expenditures for mileage associated with staff travel for the
school district. ALL MILEAGE INCLUDING OUT OF DISTRICT IS CODED TO
0581. 0585 Travel - Meals- Amounts paid for expenditures for meals
associated with staff travel for the school district. Receipts
required and per diem rates applied. 0586 Travel Hotels- Amounts
paid for expenditures for hotels associated with staff travel for
the school district. 0589 Travel Other- Amounts paid for
expenditures for other staff travel which cannot be classified
elsewhere within the series. Examples: Taxis, Parking Fees,
Airfare, & Tolls.
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FEE WAVIER UPDATE Household will either fill out the Free and
Reduced Meals Application or the EBF (Educational Benefits Form).
Fee Waiver Guidelines http://www.hardin.k12.ky.us/Finance.aspx
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DONATING TO SPECIFIC STUDENTS Cannot be done through the school
accounts Donations can be made directly to parents/students Will
not be tax-deductible to donor Donations may be made for fee
waivers in general All student fees and charges shall be adopted by
the board. The fee shall remain in place until modified or removed
by board resolution. All student fees adopted by the board shall be
used for the purposes set forth in the motion and shall not be
spent for any other purpose.
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CONTRACTS No person shall make an oral contract obligating HCS.
No work can be initiated prior to the contract being signed by all
parties. According to KRS, a contract shall be no longer than one
year.
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CONTRACTS SIGNED BY PRINCIPALS The Board shall, through policy,
authorize the Principal to enter into the following types of
contracts: Fund raising endeavors (i.e., picture sales, vending
machine leases, T shirt sales, etc.) Lease/purchase of equipment
such as copiers, service contracts, telephone systems. All
contracts listed above shall be reviewed by the Finance Department
(Associate Superintendent/Finance Director) prior to signing. HCS
Contract Guidelines