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MASBO Business Administrator's Bookshelf: Financial Resource MGT: Financial Mgt, Invest, Debt Serb
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In memorium

“Pupils equal dollars, dollars equal pupils”– Dr. Leo P. Turo

SCHOOL BUSINESS ADMINISTRATORS’ BOOKSHELF

Educational Enterprise

Financial Resource Management

Human Resource Management

Facility Management

Property Acquisition and Management

Information Management

Ancillary Services

 

 

 

 

A.             Cash Management, Investments, and Debt Management

      1. Treasurer’s Turn Over Sheet
      2. Student Activity Accounts Manual - MASBO (NEED LINK)
      3. Donations / Fundraising:  Attorney General’s Guide for Charities who Fundraise from the Public (NEED LINK)
      4. Questions Commonly Asked of the Division of Public Charities - AG (NEED LINK)
      5. Town, City or Regional District Treasurer is the only authorized municipal official who may open a bank account using the Town’s Tax ID number and is also the only individual who may invest funds
      6. PASBO Electronic Resource Center (http://www.pasboerc.org/)
      7. Massachusetts Finance (State Electronic Funds Transfer) (https://massfinance.state.ma.us/VendorWeb/vendor.asp)
      8. Cash Handling: Student Activities Funds, Field Trips, & Athletics https://slideplayer.com/slide/6841360/

                                    a.  MASBO September 12, 2013 CASH HANDLING Student Activity Funds, Field Trips, & Athletics Melanson Heath and Company, P.C. Certified Public Accountants Management Consultants Sheryl Stephens Burke, CPA, MST Sara Corduck

                                    b.  Chapter 71, Section 47 “The School Committee of a city, town or district may authorize a school principal to receive money in connection with the conduct of certain student activities” “The School Committee of a city, town or district may authorize a school principal to receive money in connection with the conduct of certain student activities” “To deposit such money, with the municipal or regional school district treasurer” “To deposit such money, with the municipal or regional school district treasurer”

                                    c.  Internal Control - Receipts Vulnerable to Loss Vulnerable to Loss Evidence of receipt Evidence of receipt Audit trail from collection to deposit Audit trail from collection to deposit

                                    d.  Evidence of Receipt Receipt book Receipt book Pre-numbered tickets Pre-numbered tickets Attendance roster Attendance roster Other methods Other methods

                                    e.  Receipt Book Practical for type of receipt Practical for type of receipt Multiple copies of receipt slip Multiple copies of receipt slip Retain one copy Retain one copy Tie batch of receipts to turnover Tie batch of receipts to turnover

                                    f.  Pre-numbered Tickets Practical for type of receipt Practical for type of receipt Multiple admission prices Multiple admission prices Complimentary tickets Complimentary tickets Controls over admission Controls over admission Reconciling ticket numbers Reconciling ticket numbers Documenting reconciliation Documenting reconciliation

                                    g. Ticket Reconciliation Form

                                    h.  Attendance Roster Athletic participation fees Athletic participation fees Class trips Class trips

                                    i.  Athletic Participation Fees Charge to students participating in team sports Charge to students participating in team sports Complications Complications Multiple sports Multiple sports Multiple family members Multiple family members Copy of roster becomes accounting Copy of roster becomes accounting Tie entries on roster to turnover Tie entries on roster to turnover Software Software

                                    j.   Class Trips Same roster method as athletics Same roster method as athletics Reconcile receipts to costs Reconcile receipts to costs

                                   k.  Other Receipts Collections too small for receipt slips Collections too small for receipt slips Ticket sales too cumbersome or ineffective Ticket sales too cumbersome or ineffective No registration or roster No registration or roster Two people count the cash Two people count the cash Retain documentation Retain documentation Sealed containers Sealed containers

                                   l.   Audit Trail Retain evidence of receipt Retain evidence of receipt Turnover cash (obtain verified receipt) Turnover cash (obtain verified receipt) Who does money go to? Who does money go to? Centralized collection and deposit Centralized collection and deposit Faculty advisor sign off Faculty advisor sign off Faculty sign off of activity balances Faculty sign off of activity balances

                                   m. Perception of Detection Take concerns seriously Take concerns seriously Verify faculty advisor receipts to turnover Verify faculty advisor receipts to turnover Verify turnovers to deposits Verify turnovers to deposits Verify activity balances with faculty advisors Verify activity balances with faculty advisors Enforce policies Enforce policies Annual audits Annual audits

 

            9. Cutting Class: Underfunding the Foundation Budget’s Core Education Program http://www.massbudget.org/report_window.php?loc=Cutting_Class.html


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MASBO is a non-profit professional organization of school administrators whose responsibilities include the business affairs of public and non-public schools. They may be wholly, or partially, responsible for budgeting, school finance, accounting, purchasing and supply management, transportation,maintenance and operation, school plant planning and construction... read more.

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