Student Activity Fund
The Board is responsible for the establishment and management of student activity funds. The purpose of student activity funds shall be to account for revenues, disbursements, deposits, expenditures, assets, liabilities, and fund balances of those funds raised by students through recognized student body organizations and activities, including:
1. Admission charges for interscholastic activities;
2. The sale of yearbooks and annuals;
3. Student fee collections which are used to provide more than one activity or benefit to all of the students of the School; and
4. Receipt from vending machines located on School property.
Such funds shall be used for such expenditures as [NATURE AND TYPE OF EXPENDURES].
The funds collected by the School shall be maintained in accounts requiring two authorized signatures for the distribution of funds: one signature shall be by a person designated by the Board as an assistant treasurer and the other shall be a designated RISE Charter School signatory.
The funds shall be deposited and expended by regular check in a bank account maintained by RISE Charter School for each student activity fund. The use of the student extra- and co-curricular funds is limited to the benefit of the students. All funds collected or received for RISE Charter School programs, activities, or student use are, by Idaho law, public monies; and the care, custody, control, and accounting for such monies is the duty and responsibility of the treasurer and the administrative officer of RISE Charter School. The treasurer of RISE Charter School shall provide accounting procedures for the receipt, deposit, expenditure, and withdrawal of such moneys.
The management of student activity funds shall be consistent with sound business practices. Authority is delegated to the Executive Director or designee to require RISE Charter School to conform to accounting procedures for the receipt, deposit, and withdrawal of funds. A report of the activity of these funds shall be submitted to the Board and Executive Director or designee each month by the treasurer. This includes providing for the safekeeping of monies, proper accounting and administration of the funds, and compliance with the Board of Directors’ policies and procedures. The Executive Director or designee is responsible for the proper collection, disbursement, and control of all RISE Charter School activity funds.
The official financial records of the student activity funds for RISE Charter School will be audited annually by a qualified public accountant or other responsible person approved by the Board. The employee responsible for maintaining student activity funds will be under bond in an amount which protects the maximum funds on hand at any time. An annual report will be prepared for the Board disclosing all results of the audit.
For other activity or student funds, the Board may create a separate fund(s) and implement procedures for the accounting and control of the same.
Projects for the raising of funds shall generally contribute to the educational experience of students and shall not detract from the instructional program. All fundraising projects must have the approval of the Executive Director or designee. Solicitation of funds outside RISE Charter School must have the approval of the Executive Director or designee.
Receipts
All cash and check collection will be recorded by the person receiving the collection. A cash receipt will be prepared immediately. Cash receipts are to be issued in numerical sequence.
The receipt must be filled in completely, including:
1. Date;
2. The amount;
3. The name of the person or company delivering the funds;
4. The source of the funds, such as a fundraiser, yearbook payment, etc; and
5. The account code and description of the account.
An actual cash count of all money must be made by the person receiving the funds in the presence of the person delivering the funds.
Checks received will not be post-dated for any reason.
A cash receipt will not be altered for any reason. If an error occurs, the person receiving the cash or check will indicate the receipt was voided, will mark void on the receipt, and file the voided receipt in numerical sequence with the copies of the receipts.
The original receipt will be given to the person delivering the money. If an individual mails a check and requests a receipt for the payment, a receipt acknowledging the check number will be prepared and returned to the individual making the payment. The copy of the receipt will be filed in numerical order and retained for auditing purposes.
Access to receipts will be limited to the individual responsible for the particular fund.
If funds are delivered to a building office when the person responsible for RISE Charter School funds is out of the office, the employee receiving the cash or check will follow the receipt procedures set forth above. The funds will then be locked in a safe until the person responsible for RISE Charter School fund is available. The individual who received the funds will then count the money in the presence of the person responsible for RISE Charter School fund and indicate that the money was received.
All funds received by clubs or RISE Charter School organizations must be properly documented.
All funds collected by staff members will be submitted daily to the Executive Director or his or her designee for receipt. No money will be kept overnight in classrooms, desks, file cabinets, or other areas within the building.
Policy History:
Adopted on: December 13, 2021
Revised on:
Reviewed on: