5513 Internal School Funds
5512 Internal School Funds
2000 5513
Non-Instructional/Business
Operations
SUBJECT: INTERNAL SCHOOL FUNDS
Internal School Funds are defined as funds for which by law the Board of Education is directly responsible. These funds shall include gifts and donations, fees, refunds, rental of school property, penalties, tuition and services, cafeteria receipts, trust fund and revolving funds.
Internal school funds shall consist of three kinds of school monies:
- Monies in transit to the District Treasurer
- Revolving funds
- Trust funds
All internal school funds shall be under the direct control of the Board of Education and shall be placed in the custody of the School District Treasurer.
In order to insure the prompt deposit of all internal school funds, all monies so classified shall not be allowed to accumulate in the individual schools but shall be moved up daily for deposit with the School District Treasurer.
The School District Treasurer shall deposit all internal funds except revolving funds, trust funds, cafeteria funds, and extra classroom activity funds in the general fund of the Board of Education. Withdrawals shall be made in accordance with the regulations of the Board.
Monies in transit include refunds received from the breakage of property, the sale of property or supplies, and the rental of property. Also included are library fines and telephone tolls. Revolving funds include all cafeteria receipts and locker deposit funds.
Adopted: 5/8/00