STUDENT ACTIVITIES FUNDS MANAGEMENT
The Board of Education believes that the activities of student organizations within the district are a valid part of the total learning process. Most such student organizations require funds to function, and acquire and disperse these funds through the conduct of their activities. These funds must be safeguarded and accounted for with the same diligence as are all other public funds.
The Board shall have the responsibility for the protection and supervision of the financial affairs of student clubs and extracurricular activities. The Principal of each school concerned will appoint a competent or qualified faculty advisor for each club or organization. An audit of all accounts will be made annually by the school auditor.
The procedures for receiving, safeguarding, expending and accounting for student activities funds shall be those described in Finance Pamphlet No.2, Revised 1970, entitled "Safeguarding, Accounting and Auditing of extra classroom Funds" and issued by the Division of Educational Management Services of the State Education Department. Monies received shall be deposited with an official designated annually by the Board and who shall be referred to as the Central Treasurer. The Central Treasurer shall be bonded at the expense of the district and the Board shall determine the amount of the bond.
Funds left in the treasury of a defunct organization shall be transferred to the Yearbook Fund.
No cash shall be kept in school buildings overnight, except that which is placed in the vault or safe provided for that purpose. The Building Principal shall be responsible for seeing that cash accumulating from extra-classroom accounts and other student collections are deposited in the bank frequently.
Cross-ref: 2210, Board Reorganizational Meeting
Ref: Education Law '207
8 NYCRR Part 172
Adoption date: January 1, 1993