Extraclassroom Activity Funds
Extraclassroom activity funds are defined in the Regulations of the Commissioner of Education as “funds raised other than by taxation or through charges of a board of education, for, by or in the name of a school, student body or any subdivision thereof.” Basically, extraclassroom activity funds are those operated by and for the students. Monies are usually collected voluntarily by pupils and are spent by them as they see fit so long as they abide by established regulations.
Extraclassroom activity funds must not be confused with funds accounted for in accordance with the Uniform System of Accounts prescribed by the State Comptroller. Procedures discussed in this policy and applicable regulations apply only to extraclassroom activity funds.
GUIDELINES FOR CLUB ADVISORS
CONSTITUTION & BYLAWS:
All clubs must have a constitution & bylaws that includes:
- Club Name
- Purpose and Goals
- Membership
- Officers
- Finances
- Amendments and Regulations
MEETINGS:
Club meetings are to be held monthly while school is in session.
Meeting minutes are required and must include:
- Date and time
- Attendance
- Topics discussed
- Any items voted on with outcome of the vote
LEDGERS:
All revenue and expenditure activity must be included in a ledger. Proper ledger procedures:
- At regular intervals ledgers shall be balanced to the Central Treasurers records
- Ledgers will be made available for audit by the Faculty Auditor
- Ledgers will be maintained by the Student Treasurer
DEPOSITS:
All monies must be immediately deposited with the Central Treasurer and must be accompanied by:
Completed deposit form
- Club Advisor’s signature
- Student Treasurer’s signature
- A copy of deposit form will be returned when completed by the Treasurer
Proper Procedure for Deposits:
- All money must be counted with two club members and Advisor present
- All coins should be wrapped
- All dollars should be stacked, faced and banded by each denomination
- All staples should be removed from checks
- All Deposits should be sealed in an envelope labeled with the club name and amount before brought to Central Treasurer
PAYMENTS:
All payment requests should be accompanied by:
- Completed payment form (sample form)
- Copy of minutes approving purchase
- All ORIGINAL itemized invoices, attached statements will not be acceptable
- Sales tax will be paid for all applicable purchases
- Club Advisor’s signature
- Student Treasurer’s signature
- Designated Principal’s signature
- A copy of payment form will be returned when completed by the Central Treasurer
TRANSFER OF FUNDS FROM ONE ACTIVITY TO ANOTHER:
- Completed Transfers Request form
- Pay to the order of club receiving funds
- Club Advisor’s signature (for the club where the money is coming from)
- Student Treasurer’s signature (for the club where the money is coming from)
- A copy will be returned when completed by the Central Treasurer
If any of the above steps are omitted, the deposit or payment form will be returned for correction.
All clubs are required to maintain their own recordkeeping of club activity. A statement of Profit and Loss must be prepared for ALL fundraising events. The club advisor must maintain all appropriate income and expense supporting documentation along with the event statement of Profit and Loss. This will enable those collecting money prepare a complete report to verify the money turned over to the Central Treasurer and will afford protection for those handling funds.
Additional policies, procedures, and regulations can be found here.
Maureen Dustin
Central Treasurer
mdustin@srk12.org
518-358-6615
Teresa VanDunk
Chief Faculty Advisor
tvandunk@srk12.org
518-358-6620
Policies and Procedures
NYS Safeguards, Accounting and Auditing of Extraclassroom Funds
Policy 7410
Regulation 7410
Salmon River Procedures
Job Descriptions
Central Treasurer
Chief Faculty Advisor
Faculty Auditor
Faculty Advisor
Activity Treasurer
Activity Forms
Meeting minutes
Ledger
Deposit Form
Payment Request Form
Payment Request Form Example
Transfer Form
Fundraiser Request Form
Profit and Loss Statement
Constitution & Bylaws
Sales Tax
Trainings
District Training
External Auditor Training