Rocklin Unified Associated Student
Body
Presented by:Toni Edgerton
Raise money for STUDENT activities
Allows students to participate in co- and extra-curricular activities
Learning good business practices
Purpose of an ASB
Organized◦ Middle and High Schools◦ Students make decisions about
Fundraisers Expenditures
◦ Advisors and School Principals Provide assistance and guidance
Types of ASB
Unorganized
◦ Elementary◦ Adult Ed, ROP, Continuation◦ Principals or Advisors make decisions◦ Limited student decision making
Types of ASB
State of California
◦ Legislature writes laws
◦ CDE Develops policy regarding legislation
◦ State relies on district governing boards to enforce laws
Who is involved?
Governing Board ◦ Ultimately responsible for everything in the district◦ Must approve formation of ASB
(E.C. Section 48930) Superintendent
◦ Ensures board policy implemented ◦ Communicates
Board policy importance Problems identified in audit
◦ Investigates allegations of misappropriations immediately
Who is involved?
Business Office Staff◦ General oversight◦ Resource to site staff◦ Provides training◦ Site visits◦ Review reconciled bank statements monthly◦ Report account activity summary annually◦ Work with staff to resolve audit findings
Who is involved?
Elementary Principal – Unorganized ASB
◦ Decision & Operations Reviews and approves monthly reconciliations Number of fundraisers each year How funds will be spent Monitor results of activities
◦ Ensure laws and board polices are followed◦ Works with business office◦ Reports fraud, abuse or theft to the district office
immediately
Who is involved?
Secondary Principal – Organized ASB◦ Communicates and enforces policies and
processes.◦ Appoints club advisors
Advisors must be a certificated employee
◦ Supervision ASB Bookkeeper ASB Advisors
◦ Validation of expenditures◦ Works with district business office ◦ Reports fraud, abuse or theft to the district office
immediately
Who is involved?
ASB Bookkeeper or Designee◦ ASB funds
Safeguarded at school site Have a secure place – limited access Timely deposits with bank
◦ Maintains adequate financial records ◦ Reconciles bank account EACH MONTH
Who is involved?
Student Council ◦ Organized ASB
Oversees student clubs Authorizes fund-raising events Adopts annual budget Approves expenses from student funds
◦ Primary authority◦ Represents ALL Students
Who is involved?
Independent Auditors
◦ Annual financial review
◦ Reports any audit findings in annual audit report
◦ Identifies problems or weakness
◦ Assists with fraud investigation
Who is involved?
Food Service Department
◦ Resources to ensure compliance with food regulations (wellness policy)
◦ Non-competitive sales
◦ Build partnerships
Who is involved?
Not legally part of school district
Not included with annual audit
Separate tax ID
Funds not controlled by students or principal
Booster Clubs, PTC’s, PTA’s, Foundations
Who is NOT involved? Why NOT?
Form the organization
◦ Establish the bank account Board and District office approval required Authorized signatures
◦ Select an accounting system Can be manual or computerized
◦ Implement internal controls
Operations of an ASB
Organized only◦ Formal Application◦ Constitution◦ Bylaws◦ Establish budget◦ Maintain meeting minutes
Operations of an ASB
Approval Required◦ School Board◦ District Office
Use district federal tax ID number◦ Any external accounts using the district tax ID
must be monitored by the school’s administrator and submitted to the district office for review
The title must be in the name of the ASB organization◦ Example: Antelope Creek Student Fund
Establishing the bank account
Only used by the ASB ◦ No other activities should run through this
account
Must have 2 signers◦ Must be district employees◦ Must NOT be the person reconciling the account
Establishing the bank account
Segregating duties
◦ Those who initiate or authorize transactions◦ Those who execute the transaction◦ Those responsible for the item resulting from the
transaction
Internal controls
Collection and deposit of money ◦ Collector (Teachers/Advisors) of funds has a
reconciliation of monies received Cash Collection document Numbered tickets Cash register or receipt book
◦ Gives cash or checks to ASB Bookkeeper or Designee Bookkeeper does a second count of money Deposits in a timely manner 2-3 days
Never leave money at a school over the weekend or holidays Credits proper club or sub-account Creates deposit receipt; gives copy to teacher or advisor
Reports any discrepancies
Internal Controls- Cash Receipts
Do NOT allow:◦ Teachers to deposit funds collected into personal
accounts◦ Teachers to collect funds without prior approval
Principals, advisors, bookkeepers should already be aware of the activity or reason to collect funds
Do NOT co-mingle funds with external accounts (PTC accounts)◦ Revenue and Expenses should be accounted for
within the same account
Internal Controls – Cash Receipts
Example: Tony Crane If you deposit ticket sales for the event in the ASB account, payment of expenses must come from the ASB account. If you choose to use the PTC account, then deposits and expenses should occur within the PTC account.
ASB or PTC’s can do the accounting function for Tony Crane, or other event’s, as long as the above guidelines are followed.
Internal Controls
Paid by ASB
Independent Contractor◦ Disk jockey◦ Photographer◦ Entertainer (Tony Crane)
Fills out W9 prior to working
Income reported on 1099 annually
ASB Consultants
Follows the calendar year
Report to the district office prior to winter break
Cumulative total for ASB expenses paid to any consultant
1099 Reporting
Do NOT comingle district funds with student funds◦ Any student fees received for curricular activities
should not be deposited into the ASB account. These fees should be accounted for by the district office. All expenses should be paid from the district accounts not the ASB account.
◦ These include: Elective class fees, home economics, construction
technology, art Library fines Textbook fines
Internal Controls
FEESAppropriate for ASB Account Not Appropriate for ASB
Account
Field Trips
Admission to after school activities
◦ Dance◦ Performances◦ Athletic Event
Lost text books
Lost Library books
Damage to school property
Materials for fabrication of item student is keeping (must not exclude any student) for classes that occur during the regular school day
Approval of fundraising events◦ Ed. Code 48932 allows the board to authorize
fundraising◦ District Board Policy 3452 requires Principal to annually
submit a list of fundraising events to Superintendent or designee.
Things to consider◦ Educational experience◦ Voluntary◦ Frequency/schedule◦ Student Safety◦ Allowable by insurance company
Fundraising
Allowable Fundraisers
◦ Athletic events
◦ Concession sales
◦ Entertainment and dances
Fundraising
Unallowable Fundraisers◦ By Law
Raffles/games of chance◦ Insurance coverage due to risk
Mechanical or animal rides Darts, arrows or other weapons Objects thrown at people
Pie toss Dunk tanks Destruction of objects Trampolines Rental of district property
Fundraising
Must be board approved
Not appropriate for deposit into ASB accounts and should be sent to the district office◦ Examples:
United Auburn Indian Grants Wells Fargo Matching Gift Program Target giving
Gifts, Grants and Donations
Must promote the students general welfare, morale, and education experience
Must be outside of what the school district should provide from their general funding sources
Expenses
ExpensesALLOWABLE UNALLOWABLE
Field trips/excursions Extra curricular
athletic costs Student store
products Social events Entertainment costs Class parties
Faculty meeting costs PTC costs Gifts given to any
individual ◦ Gift cards or cash◦ Flowers◦ Candy
Gifts to a needy family Donations to
organizations
Per recent audit, bank statements must be opened, reviewed, initialed and dated by Principal prior to reconciliation.
Must be accurate
After reconciliation send copies of the bank statement, ledger and bank reconciliation cover sheet to district office.
Any needed accounting adjustments must be made in the current month’s account records.
Monthly Procedures
Deposit all receipts Pay all outstanding bills for goods and
services received May require contacting vendors for outstanding bills
Post all transactions for the school year Reconcile bank statements Finish up year end accounting in August
when you return
Year End Procedures
Principal is responsible employee for ASB Procedures developed for employee
protection Safe cash handling Legal and appropriate expenditures Accurate record keeping Timely reconciliations Business office review Prevent audit findings
Summary of ASB
Resources
Online help desk◦ http://www.fcmat.org/stories/storyReader$1132#a
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