Administrators Academy

What you need to know...

Accounts Payable

&

Student Activity

Presented by:

Stephanie De Los Santos,

Accounting Coordinator

August 6, 2015

Agenda

Accounts Payable Function Accounts Payable Cycle Accounts Payable Calendar New! No PO Form! Activity Funds Fundraisers Donations Reminders

Accounts Payable Function

Accounts payable functions include the payment of all vendor invoices, employee reimbursements, and imprest account reimbursements in a complete, accurate, and timely manner.

The purpose of the accounts payable function is to ensure that all disbursements of school district funds are done in accordance with:

the internal control procedures set by district management

the accounting practices of the district

the account code structure of the district and the state

state law

federal requirements

good business practice

Accounts Payable CycleThe traditional purchase to pay cycle can best be illustrated as follows:

Accounts Payable Calendar

New! No PO Form!

Activity Fund DistinctionA distinction exists between monies benefiting student clubs (Student Activity Funds) and monies benefiting the District (Campus Activity Funds).

Campus Activity Funds contain money raised locally at the campus or donated to the campus. Campus Activity Funds belong to the Campus and/or District and the transactions are to be segregated from Student Activity Funds and separately accounted for. Fund 461

Student Activity Funds contain monies accumulated from the collection of student fees and Principal approved fund-raising activities. Funds collected by student clubs shall be used only for purposes authorized by the organization or upon approval of the sponsor. Fund 865

Activity Fund Administrative Procedure Recommendations

Examine all club balances on a monthly basis and resolve any questionable balances

Review the bank reconciliation report and the bank statement. Discrepancies should be reviewed and corrected in a timely manner.

Review supporting documentation, including a purchase order if applicable, prior to check approval

Review and approve reporting prepared by the Campus Secretary/Bookkeeper

Review transaction documentation for proper compliance with existing policies and/or procedures

Review and approve/disapprove all fund-raising activity

Activity Funds – Useful ToolUnsure if you can use an Activity account for a

specific purpose?

Campus Activity Funds or Student Activity Funds

Refer to this Quick Reference Guide - on Accounting Website

Fundraisers Campus fundraiser must be approved prior to

beginning any selling. Each fundraiser must state the purpose, date's and estimated profit.

Donations The Campus Activity funds may receive

donations. Donations greater than $1,000 must be deposited with Finance.

Student groups may also receive donations. Donations received for specific purposes must be

spent only for that purpose. The campus and/or district is not allowed to give

out donations.

Reminders Annual Sponsor Meeting

September – Date TBD Business Office Training

Coming Up – Date TBD Activity Fund Manual

Coming Soon

Accounting DepartmentContact Information

Stephanie De Los Santos, Accounting Coordinator (ext. 5047)

Angelica Kornegay, Accountant (ext. 5046)

Angela Gonzalez, Accountant (ext. 5045)

Sylvia Reta, Accounts Payable Clerk (ext. 5043)

Blanca Lopez, Accounts Payable Clerk (ext. 5042)

Lisa Soriano, Accounts Payable Clerk (ext. 5041)

Maritza Barreto, Accounts Payable Clerk (ext. 5044)