SCHOOL NON-PUBLIC FUNDS

Background

Principals are responsible to the District for the proper maintenance of and accounting for all funds raised in the name of the school.

Procedures

1. The Principal shall ensure that “generally accepted accounting procedures” are adhered to in the management and reporting processes.
2. Principals are to have a written procedure outlining the process used for the management of and decisions related to Non-Public Funds.Such procedure shall be shared with partner groups in September of each school year.
3. Each fund is to be operated on a trust fund basis, with its own ledger for cash receipts and cash disbursement.Void receipts are to be retained on file.
4. Pre-numbered receipts (or other approved method) are to be issued for all cash received.Where funds are raised on a student or classroom basis, a class list indicating student payments may be used in place of individual receipts.
5. All cash received is to be deposited in the bank at least monthly for elementary schools and every two weeks for middle and secondary schools.
6. An imprest petty cash fund may be maintained if this is felt to be necessary.
7. Vouchers and receipts are to be retained in support of every expenditure.
8. Records of Non-Public funds are available for review upon request by the Secretary-Treasurer, PAC President and Staff Representative for the STA and CUPE.Funds include both school programs and fund raising activities.
9. Records of Non-Public funds are subject to audit on a periodic basis by the District’s auditors.