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SCHOOL ACTIVITY FUNDS
School activity funds (funds derived from pupils' activities) shall be audited annually along with other district funds and shall be administered, expended, and accounted for according to rules of the State Board of Education and the Morris School District. Separate and complete records shall be maintained for each pupil organization. Receipts and signed invoices are to accompany each request for a disbursement from these activity accounts. Disbursements must be made by check signed by the building principal. The Business Administrator/Board Secretary and/or the principal of each building shall be responsible for designating custodians for each account. The pupil activity funds for each school shall be kept in separate accounts, supervised by the building principal and/or his/her designee. All receipts from pupil fund-raising projects, athletic events, and other events for which admission is charged will be deposited promptly, see policy 3450. A summary of each account will be submitted monthly to the Business Administrator/Board Secretary and will include a listing of all receipts and disbursements. Date: April 14, 1986 September 8, 1997 First Reading October 13, 1997 Approved November 19, 2001 First Reading December 10, 2001 Approved Legal References: N.J.S.A. 18A:19-14 Funds derived from pupil activities N.J.S.A. 18A:23-2 Scope of audit N.J.A.C. 6:20-2A.1 et seq. Double Entry Bookkeeping and GAAP Accounting in Local School Districts Cross References: 3280 Gifts, grants and bequests 3450 Money in school buildings 3571 Financial reports 3571.4 Audit 5136 Fund-raising activities Key Words School Activity Funds, Athletic Funds, Class Funds |
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