Jerome Joint School District No. 261

FINANCIAL MANAGEMENT 7260

Student Activity Fund

The board is responsible for the establishment and management of student activity funds. The purpose of student

activity funds shall be to account for revenues and disbursements for those funds raised by students through

recognized student body organizations and activities, including:

1. Admission charges for interscholastic activities

2. The sale of yearbooks and annuals

3. Student fee collections which are used to provide more than one activity/benefit to all of the students of

a school or school building

4. Receipt from vending machines located on school property

Such funds shall be used for such expenditures as behavior incentives, attendance awards, field trips and field trip

admission, and activities that benefit all students in the school.

The funds collected by the schools shall be maintained in accounts requiring two authorized signatures for the

distribution of funds: one signature shall be by a person designated by the board as an assistant treasurer and the

other shall be a designated signatory of the building or district.

The funds shall be deposited and expended by regular check in a bank account maintained by the District for each

student activity fund. The use of the student extra- and co-curricular funds is limited to the benefit of the

students. All funds collected or received for school program, activities or students use are by Idaho law public

monies and the care, custody, control and accounting for such monies is the duty and responsibility of the

Treasurer and the Administrative Officer of the District. The treasurer of the District shall provide accounting

procedures for the receipt, deposit, expenditure, and withdrawal of such moneys.

The management of student activity funds shall be consistent with sound business practices. Authority is

delegated to the Superintendent to require each school within the District to conform to accounting procedures

for the receipt, deposit and withdrawal of funds. A report of the activity of these funds shall be submitted to the

board each month. This includes providing for the safekeeping of monies, proper accounting and administration of

the funds, and compliance with the Board of Trustees policies and procedures. The Principal is responsible for the

proper collection, disbursement and control of all school activity funds.

The official financial records of the student activity funds for any school in the District will be audited annually by a

qualified public accountant or other responsible person approved by the Board. The employee responsible for

maintaining student activity funds will be under bond in an amount which protects the maximum funds on hand at

any time. An annual report will be prepared for the Board disclosing all results of the audit.

For other activity or students funds, the board may create a separate fund(s) and implement procedures for the

accounting and control of the same.

Projects for the raising of funds shall generally contribute to the educational experience of students and shall not

detract from the instructional program. All fundraising projects must have the approval of the principal.

Solicitation of funds outside the school must have the approval of the Superintendent.

Receipts

All cash and check collection will be recorded by the person receiving the collection. A cash receipt will be

prepared immediately. Cash receipts are to be issued in numerical sequence.

The receipt must be filled in completely including:

1. Date;

2. The amount;

3. The source of the funds, such as a fundraiser, yearbook payment, etc.

All funds received by clubs or school organizations must be properly documented.

Fundraiser receipts shall be reconciled by a school official and fundraiser organizer.

All funds collected by staff members will be submitted daily to the building principal or their designee for

receipt. No money will be kept overnight in classrooms, desks, file cabinets, or other areas within the building.

Legal Reference: I.C. § 33-705 Activity Funds

Cross Reference: 7230 Financial Reporting and Audits

Policy History:

Adopted on: 11/21/2006

Revised on: 03/19/2024