new principal training local school accounting july 7, 2015

New Principal Training

Local School Accounting

July 7, 2015

Discussion Areas• Local School Accounting Department

• Local School Student Activity Funds

• School Collections and Receipting

• Safeguarding Funds

• Spending Guidelines

• Performance Contracts

Local School Accounting Department

Cathy Strudthoff-Brown, Manager

• Local School Accounting• School “customers” will rotate annually.• School Bookkeeper Training – July 21, 22, 23, 24

& 28

• After School Program• Director, Clerk and Bookkeeper Training

Principal’s Financial Responsibilities• “School Principals are responsible for the management

of all funds and other assets involving school activity. Management of school funds and other assets requires strict compliance with the Local School Accounting and Procedures Manual, Property Control User’s Guide, Board Policy, District Administrative Rules, Georgia and federal law.” [District Administrative Rule DJEE-R]

• Authorize all school spending

Student Activity FundsSchool Collections

• Collected at the schools for student organizations, school clubs, and student activities.

• After School Program:

• Prepaid tuition program at Elementary schools

Student Activity FundsSchool Collections

• Pictures

• Vending

• Book Fines

• Fundraisers

• Book Fairs

• Donations/Grants

Student Activity FundsSchool Collections

• Field Trips

• Athletic Ticket Sales

• Athletic Concessions

• Performing Arts

• Parking

• Summer School

Student Activity Funds Safeguarding Funds – Controls

• Bookkeeper processes all school money and prepares deposits for armored car service pickups

• Money must be secured in school safe overnight

• Do not store money in classroom or carry off campus

• Principal is responsible for delegating a Backup Bookkeeper in absence of Bookkeeper.

Student Activity FundsSpending Your Local School Money

• Pre-approve all purchases

• Comply with Chart of Accounts and Local School Accounting Procedures Manual

• No deficit spending! Make sure money is available before a purchase is authorized.

Student Activity FundsSpending Guidelines

• Principal’s Discretionary Funds

• Pictures

• Vending

• Interest Income

• Commitment Cards

Student Activity FundsSpending Guidelines

• Designated Use of Revenue

• Fundraisers

• Book Fairs

• Donations

• Grants

• Field Trips

Student Activity FundsSpending Guidelines – Instructional Funds

• What is Instructional?

• Directly related to:

• Classroom

• Learning environment

• Other examples: postage to mail letters to parents, postage to mail student records to another school district, copy paper for letters to parents, test tubes for science classes, reading materials for English classes, agendas for students, printer cartridges for classrooms.

Performance Contracts • A contract must ALWAYS be completed and approved

BEFORE services are rendered!

• Only the School Principal can obligate the school to a contract and it must be in writing.

• An Assistant Principal, Coach, or Athletic Director cannot sign a Performance Contract on behalf of the Principal!

• Non-standard contracts (vendor contracts) must be forwarded to your school’s Assistant Superintendent for legal review before signing.

Performance Contracts • If county funds are to be used, additional signatures

will be required.

• Contracts must comply with State of Georgia and Cobb County School District accounting and purchasing policies and procedures, the Georgia Security and Immigration Compliance Act (OCGA) 13-10-91 and HB 87-Illegal Immigration Reform and Enforcement Act of 2011.

Controlling your Financial Position

• Communicate and meet regularly with your School Bookkeeper

• Review Financial Information weekly with School Bookkeeper

• Review Monthly Bank Reconciliation and Instruction Memo

Local School AccountingContacts

Debbie RandazzoDirector, Internal Compliance

deborah.randazzo@cobbk12.org770-426-3376

Cathy Strudthoff-BrownManager, Local School Accountingcatherine.strudthoff@cobbk12.org

770-426-3313