Responsibility for Activity Funds

Section 5.5.3 of the Texas Education Agency Financial Accountability System Resource Guide states the responsibility for activity funds involve principals, staff such as the school secretary or clerk, sponsors and auditors.  All policies that apply to the administration of District funds apply to the administration of activity funds.

The school principal or designee is personally responsible for the proper collection, disbursement and control of all activity funds at the school. This responsibility includes:

1. providing for the safekeeping of funds at the school

2. proper accounting and administration of fund transactions

3. expenditure of funds in compliance with applicable federal and state laws and local board policy and administrative guidelines

4. adequate training and supervision of all personnel designated by the principal to administer activity funds

5. notifying the internal auditor or Business Office of any significant problems with their school's activity funds accounts

6. notifying the Business Office (at least 2 weeks in advance) of any change of cashier/secretary

 The principal is not responsible, however, for funds collected, disbursed and controlled by parent or booster organizations, and these funds should not be accounted for in a school district's activity funds (i.e., Parent Teacher Organizations, athletic and band boosters clubs, etc.).  The parent and booster club money must not be kept on campus.  Money on campus becomes the property of Irving ISD.

 All schools with a new principal or secretary/cashier must have the code to the safe changed. The code to the safe shall be provided only to the principal, designee, and cashier/secretary.

 The school secretary/cashier is responsible for the proper collection, disbursement and accounting of all activity funds.  Each secretary/cashier shall have a signed Cashier/Secretary Cash Handling Responsibilities form on file with the Business Office.  Responsibilities of  the cashier/secretary include:

1. Providing for the safekeeping of funds at the school

2. Recording all student and campus activity funds transactions to include receipts, deposits, disbursements, and journal entries

3. Preparing deposits for pickup by the courier

4. Preparing sales tax reports

5. Providing assistance to sponsors and teachers

6. Maintaining an adequate supply of various activity fund forms

7. Informing principal of problems or concerns

8. Attending annual training

9. Maintaining a calendar of all approved fundraisers

 

The individual activity fund sponsor is responsible for managing their respective activity funds. Only full-time district employees may serve as activity sponsors at their assigned campus.  Each activity sponsor shall have a signed ‘Teachers/Sponsors Cash Handling Responsibilities” form on file with the school’ cashier or secretary.  Sponsor's responsibilities can include:

1. Developing fundraising plans

2. Monitoring the financial position of the activity fund (must maintain a positive balance)

3. Reviewing the activity fund financial statements

4. Safekeeping of activity fund money

5. Depositing funds collected daily with the cashier/secretary

6. Maintaining adequate documentation of activity fund transactions

7. Attending annual training

 The internal auditor is responsible for the audit of activity funds and other periodic audits as deemed necessary by school district management or the board of trustees.