FILE:  DJ-R

EXPENDITURE OF SCHOOL FUNDS

The basic responsibility for school funds rests with the Assumption Parish School Board; however, the School Board and the Superintendent may delegate this responsibility to the principals of the respective schools.

All monies collected in the schools will be processed by the principal and authorized staff members as directed by the Superintendent, such as:

All funds derived from athletic contest, school entertainments, sales, and from any and all activities of the school involving school property or students by which funds are received and disbursed shall be classified as school funds under the direction of the School Board.

The School Board will permit students to engage in fund-raising to support certain approved student activities. Each plan to raise funds must be approved by the principal of the school and the Superintendent.  It is the intent of the School Board and the Superintendent to hold fund raising campaigns by schools and students to a minimum.

It is to be understood that all funds raised in the name of the school are to be used for educational purposes only or educationally related activities.  These funds cannot be used for entertainment trips or picnics, etc.

The principal of the school is held responsible for all school finances and he must approve all expenditures; therefore, a purchase order system is to be initiated in each school.  No purchases are to be made by any school personnel unless a purchase order has been filled and signed by the principal.  Bills compiled by school personnel without the principal's authorization will be paid by the purchaser.

The bookkeeping and accounting system must be adequate with receipts and disbursements properly recorded.

Financial reports shall be made by all schools, at the end of each school year, to the Superintendent.  The Superintendent will have an audit made of all financial accounts involving the receipt and expenditure of school funds.  At the conclusion of the audit, the Superintendent will make a report to the School Board.

Assumption Parish School Board