Glenbard Township High School District 87
Administrative Procedure – Student Activity Accounts
Definition and Purpose
Student Activity accounts hold student activity funds which are those funds that are owned, operated, and managed by a school-sponsored activity or club under the guidance and direction of a faculty sponsor for educational, recreational, or cultural purposes. Student activity funds shall be used exclusively to help fulfill the objectives of each student activity or club.
A. The creation of a student activity account shall require:
1. The name of a faculty sponsor and a statement of purpose to be on file with the Building Principal or designee.
2. The approval of the Building Principal or designee and the Superintendent or designee.
B. If an activity or club raises money through its normal operations, this money shall be spent to promote the objectives of the activity or club. However, the purpose of an activity or club shall not be supplanted by an inordinate amount of time spent on fund-raising projects for the activity or the club. All participation fees, including membership dues and fund-raisers must be scheduled and approved by the Building Principal or designee.
C. If an activity or club desires to make a gift to the school, either monetary or otherwise, this may be done with the approval of the activity’s or club’s members or officers, faculty sponsor, and the Building Principal or designee, and in accordance with Board Policy 8:80. If the gift is monetary and non-designated, it may be spent by the Building Principal or designee in a manner that is in the best interests of the student body.
Handling of Accounts
A. Each school-sponsored activity or club receiving money from whatever source must deposit the money received with the student activity funds treasurer and obtain a signed receipt, on which is designated the student organization and the amount of money deposited.
B. The faculty sponsor of each organization must reconcile the books with the student activity funds treasurer each month or at least each quarter.
C. Each month the student activity fund treasurer shall reconcile the cash in the bank with the balance in each student activity account.
D. No individual student activity account shall maintain a negative balance at the end of the fiscal year without a justifiable explanation and specified time period which are approved by the Assistant Superintendent for Business Services.
E. The student activity fund treasurer shall provide to the Assistant Superintendent for Business Services the following:
1. Monthly financial statements.
2. Detailed receipts.
3. Detailed Expenditures.
5. Current balances of all student accounts.
6. Access to supporting transaction documentation.
The student activity funds treasurer shall make available, on a monthly basis, the foregoing information to the club sponsors and officers of each activity or club, to the extent that the information relates to their activity or club.
F. The student activity fund treasurer shall make disbursements from an account only on orders signed by an authorized officer of the organization, its faculty sponsor, and Principal or designee. Disbursements shall be made only by the school activity fund treasurer’s check, drawn upon the appropriate fund.
G. Any purchase order in excess of five thousand dollars ($5,000.00) but less than twenty-five thousand dollars ($25,000.00) should be supported by three (3) quotes. All purchases of twenty-five thousand dollars ($25,000.00) or more must be bid unless approved by the Assistant Superintendent for Finance. (This is the same procedure as for expenditures in the Educational Funds.)
H. Student Activity Funds should be used for the following:
1. Collection of Student Activity Funds.
2. Student related purposes.
3. Exchange account for a limited duration.
Transfer of Funds
Any transfer between student activity accounts must have the written approval of the Building Principal or designee.
If an account of a school-sponsored activity or club has a cash balance remaining after a one-year period during which there is no activity in the account or if the activity or club ceases to exist, this balance may be transferred to another student activity account, or expended by the Building Principal or designee in a manner that is consistent with the purpose of the student activity account.
DATED: March 1999
REVISED: December 8, 2003
REVIEWED: March 13, 2006
REVIEWED: October 27, 2008
REVISED: November 10, 2008