CFD(LOCAL) - ACCOUNTING: ACTIVITY FUNDS MANAGEMENT
Student Activity Funds
The Superintendent or designee shall ensure that student activity accounts are maintained to manage all class funds, organization funds, and any other funds collected from students for a school-related purpose. The principal or designee shall issue receipts for all funds prior to their deposit into the appropriate District account at the District depository.
The principal and sponsor shall be responsible for the proper administration of student funds in accordance with state and local law, District-approved accounting practices and procedures, and the TEA Financial Accountability System Resource Guide.
Student activity funds shall be included in the annual audit of the District's fiscal accounts. [See CFC]
Use and Expenditure
Funds collected by student groups shall be used only for purposes authorized by the organization or upon approval of the sponsor. The principal or designee shall approve all disbursements. All funds raised by student organizations must be expended for the benefit of the students.
District and Campus Activity Funds
The Superintendent shall establish regulations governing the expenditure of District and campus activity funds generated from vending machines, rentals, gate receipts, concessions, and other local sources of revenue over which the District has direct control. Funds generated from such sources shall be expended for the benefit of the District or its students and shall be related to the District's educational purpose.
The principal shall be authorized to expend funds from the campus administrative activity fund to be used for activities of the students, faculty, staff, or campus.
Approval from the immediate supervisor or designee shall be obtained prior to a disbursement being made to the principal.
All funds shall be left in the appropriate account, and each sponsoring group shall retain the carryover funds for the next fiscal year. If an organization ceases to function or exist, the unexpended funds of the organization shall be credited to the appropriate administrative activity account.
A plan of action for utilization shall be submitted to the appropriate directors per guidelines published in CFD(REGULATION).