Fundraising

Cash Operations

Funds from any source, including cash receipts, must be deposited into the school’s checking account, ideally on the date they were received, or as close to the date as possible. All transactions, deposits, expenditures, and transfers between accounts must be recorded in a cash journal.

Regardless of school grade levels or size, accountability, fiscal integrity, and proper accounting procedures for the handling of such funds are required to ensure that the monies allocated to support student activities programs are utilized to maximize the effectiveness of these activities.

Relevant Chancellor's Regulations

School Bank Accounts Standard Operating Procedures Manual(Open external link)

4.1 Disbursement of Cash

The disbursement of funds from a GSF account must adhere to the following guidelines:

All disbursements from the GSF account must be supported by written approval from the principal or his/her designee on the Request for Expenditure form. The principal may delegate this responsibility to the COSA at the high school level, or any other responsible staff member (all school levels).The school treasurer must maintain copies of all approved forms.

Reminder: Unauthorized purchases are the responsibility of the purchaser.

No expenditures are to be paid directly from cash collections. Cash collected must be deposited directly into the GSF account, and following deposit, expenditures can be made from the account.
Except for petty cash disbursements (see Section 5.8), payments for purchases are to be made by check only.

The completed and properly approved Request for Expenditure form , along with supporting documents such as invoices, bids if used (see item 4.3 – Bidding), etc. must be submitted to the treasurer so that a check can be prepared. The treasurer will examine the signatures for authenticity and completeness, verify the amount of the invoice, and ensure that all supporting documentation is attached to the form. Upon verification, the treasurer can prepare a check.