Banking
Establishing a new bank account Contact School Site Financial
ClerkFiscal Control dept. processes
formsRequires 2 signers
Typically Principal and Financial Clerk
Controller and Fiscal Control Manager are alternate signers, if needed.
Bank Account ManagementStaff changes, Wells Fargo Bank
access managed by Fiscal Control
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Banking
Savings and Investments Accounts Certificates of Deposit
Established by School Financial Clerk per guidance of ASB counsel.
Intent of the Account Scholarship Fund Donor Designation
Accounts have specific maturity terms (i.e. 3 months, 6 months, 1 year)
Notice is sent 30 days prior to maturity
No action taken results in CD rolling over with the same terms
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Financial Statements Preparation
QuickBooks Accounting tool to help manage
financial activity and information Helps manage banking activity Provides reporting by clubs
Blue Bear Robust accounting system
typically used at the high schools to track inventory transactions
Web store and point of sale integration
Activity recorded in QuickBooks
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Financial Statements Review
Monthly Financial Statements Balance Sheet
Cash accounts Student club accounts
Intent of account Admin Procedure 2227 – ASB Budget
Income Statement ASB general activities
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Year-End Close Memo
Year-End Close Memo Administrative Procedure 2375
Reconciliation of June 30th bank statement(s)
Trial Balance Balance Sheet Profit and Loss Statement Write-off Stale Dated Checks Remittance of fees collected for
damaged/lost materials to District Cashier
Quarterly sales tax reports Inventory physical counts ASB Budget for Following School
Year
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Keep Records in One Place
Have a binder with the following: Organization information
ASB Board approval Constitution and Bylaws Trust account information Copy of District Board Policy
Financial Statements Chart of Accounts The Budget Balance Sheets Income Statements Trial Balance
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Keep Records in One Place
Have a binder with the following: General Ledger Bank Reconciliations Student Council Minutes Fund Raising Activities Student Store Inventory End of Year reports Accounts payable Accounts receivable Student store inventory
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Keep Records in One Place
Record Retention Perpetuity
ASB constitution and bylaws ASB Student Council minutes
Financial Documents Prior 3 years and current year
records must be kept at site
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Contracts
School district policy on contracts
Who is authorized to sign the contract? Strategic Sourcing and Contracts
Officer Dollar limit on contracts
Greater than $1,500 requires 3 bids
Contract terms and conditions Intake form process for business
office and legal counsel review, if necessary, requires advanced planning according to deadlines
Budget for the contract
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ASB Consultant Forms
Ensure proper consultant earnings are reported on behalf of the District via a IRS Form 1099
IRS Form 1099s are issued each January for services received and paid in the prior calendar year. District AP processes and sends to consultants.
Copy of completed and signed form must be sent to the Accounts Payable department immediately after services are received. For services received and paid in December, the form must be submitted to Accounts Payable prior to Winter break
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ASB Consultant Forms
District employees (current or retired) cannot be hired through the ASB and must be paid through the Payroll department
If an out-of-State consultant contact Tiffany Lilley in Accounts Payable before services are rendered
Ensure completeness with consultant form and school information
All forms must be sent to Accounts Payable department prior to calendar year-end
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