GREAT START! WHAT EVERY SCHOOL COUNCIL TREASURER NEEDS - PowerPoint Presentation

Slide1

GREAT START!WHAT EVERY SCHOOL COUNCIL TREASURER NEEDS TO KNOWPart 2

West Credit Secondary

School

November 16, 2017Slide2

Collection of Funds:Funds must be counted on the school premises in the presence of two or more individualsDeposits to the bank should be made on a regular basis and can be made by school council members

A separate bank deposit book is maintained for school council, which is kept by the school office manager when not in useAppropriate backup documentation must accompany all deposits

2

MANAGING FUNDS RAISED BY

SCHOOL COUNCILSlide3

Recording & Reporting Funds:The school maintains accounting records for all school generated funds, including funds raised by school councilSchool council funds are recorded in separate school council categories in the school’s Quicken / School Cash accounting records

Transaction reports are produced for school council monthly or upon request. School councils are encouraged to review these financial reports at their meetings and to reflect these reports in their school council minutes

3

MANAGING FUNDS RAISED BY

SCHOOL COUNCIL Slide4

Disbursements of Funds:A school council member must complete a School Council Cheque Requisition Form (SCCR Form) and submit it to the school’s office managerThe SCCR form must be accompanied by appropriate documentation (e.g. Invoice)

The SCCR form must be signed by the school council chair or treasurer and by the school principal

The original SCCR form and backup will be kept at the school to support payments

4MANAGING FUNDS RAISED BY

SCHOOL COUNCIL Slide5

5Slide6

An annual report prepared by the school council must be submitted to the principal and communications department at the HJA Brown Education Centre no later than September 30 of each yearFinancial statements, if school council had any financial transactions, must be included with the annual report. These financial statements must agree to the Quicken/School Cash records at the school

6

FINANCIAL REPORTINGSlide7

Financial statements must include the following:Opening balance

Revenues and expendituresClosing balance

Use the school council transaction report from Quicken/School Cash to prepare the financial statements

7FINANCIAL REPORTINGSlide8

8SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT – SUMMARY Slide9

9SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT – SUMMARY Slide10

SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT - DETAILEDSlide11

SAMPLE - SCHOOL COUNCIL TRANSACTION REPORT - DETAILEDSlide12

SAMPLE - SCHOOL COUNCILFINANCIAL STATEMENTSlide13

Develops a plan of all school council fundraising activities at the beginning of the school yearEnsures the plan is approved by the principal and indicates the purpose of the fundraising as well as estimated income and expensesEnsures that all funds collected are counted on school premises by a minimum of two individuals

Ensures that all bank deposits are supported by appropriate back-up documentatione.g. count sheets, order forms, pledge forms

13

SCHOOL COUNCIL RESPONSIBILITIES Slide14

Signs the School Council Cheque Requisition Form (SCCR Form) to indicate that expenditures from school council funds are approvedEnsures that all approved SCCR Forms are accompanied by complete and appropriate documentation e.g. invoice, receiptAgrees the transactions in the school council transaction report to school council deposits and SCCR Forms

14

SCHOOL COUNCIL RESPONSIBILITIES

Slide15

Reviews monthly transaction report at school council meetings for approval in minutesPrepares the year-end financial statement for the Annual ReportIncludes school council transactions from Sept 1 – Aug 31Information obtained from the school council transaction reports should be used to prepare the financial statement

Ensures that all financial reports and back-up are stored at the school

15

SCHOOL COUNCIL RESPONSIBILITIES Slide16

Ensures school council funds are deposited to the bankIssues cheques from the school council category when approved SCCR form is submittedMaintains financial records of school council deposits & expenses in Quicken/School Cash

Prepares monthly bank reconciliationsStores financial records for seven

years

16SCHOOL RESPONSIBILITIES Slide17

Provides school council with transaction reports from Quicken/School CashEnsures school council fundraising & purchasing is in accordance with PDSB policies & Ministry of Education guidelinesSubmits financial information to the school board for reporting to the Ministry of Education

Responds to external and internal auditors

17

SCHOOL RESPONSIBILITIES Slide18

Cash Donations:Donation receipts are issued for amounts over $25School Council Charitable Donations Receipt Request Form is completed by School CouncilSubmit Form to Principal for approval and signature. The school will then e-mail the approved form to CBO and copy the Treasurer and Principal

18

DONATIONS

Slide19
Slide20

On-line Donations:A donation button can be found on each school’s websiteTax receipts are issued automatically once the payment has been

processedFunds can be directed to either the Peel District School Board or a particular

schoolNote that donations to another charity, such as Terry Fox, cannot be accepted here. This is for donations to support the Peel District School Board only

20DONATIONS

NEW!Slide21

21SCHOOL CASH ONLINESlide22

School Cash Online ImplementationPhased in approachImplemented to date – 160 schools

Implementation complete for all schools by 2018

22Slide23

23SCHOOL CASH ONLINESlide24

24SCHOOL CASH ONLINESlide25

PDSB School Council Resources http://www.peelschools.org/parents/schoolcouncilsSchool Councils, A Guide for Members 2001 (SCG section 13) http://www.edu.gov.on.ca/eng/general/elemsec/council/guide.html

Ministry of Education, Fees and Fundraising Guidelines

http://www.edu.gov.on.ca/eng/parents/fundraising.html

25USEFUL INFORMATION/LINKSSlide26

Resources:School PrincipalCentral Board Office (905) 890-1010

Pamela Ritchie, Acting School Finance Manager ext.2683

26

QUESTIONS?Slide27

27THANK YOU!