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6020 - System of Funds and Accounts

SYSTEM OF FUNDS AND ACCOUNTS

Imprest Funds

The following guidelines shall be used in managing imprest accounts:

  1. The amount of the imprest fund of a school shall be based on the highest amount of funds expended in one month. The amount shall be approved by the board of directors.
  2. Use of imprest funds and/or petty cash shall be restricted to those obligations which cannot be handled by voucher.
  3. Approved receipt management practices shall be used.
  4. Imprest accounts shall be replenished at least monthly by warrant payable to the custodian of the account. The replenishment must be made by vou­cher with appropriate receipts attached.
  5. Imprest funds shall be reconciled monthly.

Associated Student Body Fund Procedures

The Walla Walla Public Schools ASB Guidelines as well as these guidelines shall be in effect in the operation of the respective associated student bodies:

  1. The principal/designee shall be responsible for supervising the accounting func­tions to be performed at the building level. The building level account­ing procedures shall be consistent with the accounting functions per­formed at the district office level.
  2. An ASB budget which guides activities shall be approved annually.
  3. The ASB shall participate in the determination of the purposes for which ASB financial resources shall be budgeted and disbursed. Such purposes shall be reflected in the ASB budget which is submitted to the board of directors for its approval.
  4. The ASB shall approve all expenditures before money shall be dis­bursed from the fund. In the event that an associated student body student group conducts fund raising or solicits donations for scholarships, student exchanges, and charitable purposes, the associated student body group shall approve all expenditures of money so raised.
  5. ASB funds may be used for purposes consistent with school district policy and approved by the governing body of the organization, subject to the provisions incorporated into the student body constitution and bylaws. Private non-associated student body fund money held by the district is limited to scholar­ships, charitable contributions, and student exchange programs. This revenue is limited to funds denoted for that specific purpose, so identi­fied at the time of their collection, and that have been held in trust exclusively for donated purpose. Such funds must be contributed and raised on a voluntary basis.
  6. Fund‑raising activities not associated with an ASB sponsored organ­ization, including raising private non-associated student body funds, are not permitted by law to be done under the direction or supervision of staff nor with the use of district equipment, supplies, facilities, or other district resources unless the district is fully reimbursed for all such costs. The principal/designee shall have the authority to arrange for non-ASB funds to be held in trust in separate accounts in the fund so long as students are informed in advance that a charge shall be made to cover the full cost of the service.
  7. For schools with students in grade seven or above, evidence of stu­dent approval must appear on all vouchers supporting a disbursement of ASB money. This includes purchase orders and imprest fund check requests.       ASB minutes shall record approval of expenditures.
  8. ASB moneys must be on deposit with the county treasurer with the excep­tion of an imprest banking account and petty cash. Such funds shall be administered in the manner required by the regulations of the state board of education.
  9. A monthly ASB Report shall be submitted to the Business Office according to the Walla Walla Public Schools ASB Guidelines.

Management of District Bank Accounts

Moneys received for the district shall be handled as follows:

  1. Receipts shall be given for all moneys;
  2. All moneys received by the district, except those received by the county treasurer on behalf of the district, shall be deposited in the district's transmittal account. Provisions shall be made for individual buildings to have access to night depository. All moneys shall be deposited within 24 hours of receipts, unless receipts do not exceed $100. All funds will be deposited within 5 working days of receipt;
  3. Receipts from special events shall be deposited intact;
  4. All moneys in the transmittal account shall be transmitted to the county treasurer no later than the first of each month. Such transmittals shall be accompanied by a report indicating the sums to be credited to each of the district's funds;
  5. An accurate record shall be kept of all expenditures from each imprest account. Reimbursement to the maximum permitted shall be made to each imprest account by voucher each month;
  6. Bank accounts shall be reconciled monthly; and
  7. Local audits of each imprest account shall be made on a surprise and unscheduled basis at least once per year.

Issued: September 2003

Revised: 03.2011; April 2016

WALLA WALLA PUBLIC SCHOOLS • 364 South Park St. • Walla Walla, WA 99362 • Phone: 509-527-3000 • Fax: 509.529.7713

SS-logo-alert-transparent Safe Schools Tip Line: 855.976.8772