DFF - Student Activities Funds

FILE:  DFF

STUDENT ACTIVITIES FUNDS

Revenues collected from athletic competitions, admissions to school entertainment events, profits from school stores, club and class dues, and student organization fundraising activities shall be deposited and accounted for in a student activities fund maintained at the school.  Within this fund, separate accounts will be maintained for accounting purposes.  These revenues will be considered school unit funds under the direct control of the Finance Director, who may develop and implement procedures relative to these funds, and delegate specific responsibility for deposits, expenditures, and record keeping to the appropriate staff.  Procedures for management of student activities funds shall be consistent with sound business and accounting practices.

Student activity funds are to be used only for student activities that augment Acton School’s programs; they are not intended to replace school funding for school programs and activities.  Funds raised by approved student clubs or organizations or from classes shall be expended to benefit the specific club or organization or class. All expenditures from student activities funds must be approved in advance by the advisor for that specific activity.

Student activity funds are part of the total fiscal operation of Acton School Department and shall be audited as part of the School’s annual audit.

Cross Reference:   DI-Fiscal Accounting and Reporting

Adopted:   May 8, 2018

Reviewed:   March 10, 2022