The Board authorizes the Superintendent or designee to establish procedures for the collection and expenditure of student activity funds to promote the general welfare, education, and morale of all students to finance the normal legitimate co-curricular activities of the school. These funds are to be maintained as agency funds.
Definition. A Student Activity Fund is an agency fund that is custodial in nature. The fund will control, account for, and report receipts, deposits, expenditures, assets, liabilities, and fund balances for school related activities as:
- Admission charges for interscholastic activities,
- Student organizations,
- Student activities,
- Student fee collections which are used to provide more than one (1) activity or benefit to all of the students of a school or school building.
All funds collected by the schools shall be maintained in accounts requiring two authorized signatures for the distribution of funds. One signature shall be a person designated by the Board as an Assistant Treasurer of the District; the other signature shall be by a person authorized by the Board to be a designated counter-signer. All disbursements from these funds shall be made by regular bank check. A report of the activity in these funds shall be submitted to the Board each month. [IC 33-509A]
The Superintendent or designee shall provide accounting procedures for the receipt, deposit, and withdrawal of funds. The principal is the person responsible for the proper collection, disbursement, and control of all school activity funds. This includes providing for the safekeeping of monies, proper accounting and administration of the funds, and compliance with Board of Trustees policies and District procedures.
The accounts of these funds are generally operated for the benefit of the students, are governed by school policy, and are supervised by school district staff members and accountable to the Board of Trustees. [IC 33-705] (6-18-02)