financial management for - georgia department of …财务管理部-格鲁吉亚…

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1、FINANCIALMANAGEMENTFORGEORGIALOCALUNITSOFADMINISTRATIONDateIssuedEffectiveDateSectionTitle:August2008August2008IIFinancialReportingRevisionNo.DateRevisedChapterTitle:N/AN/A43SchoolActivityAccounts(PrincipalAccounts)HISTORYMostschooldistrictshavecashfundsorbankacco

2、untsatindividualschoolsunderthecontrolofschoolprincipalsorclubadvisors.Inthepast,thesefundsmayhavebeenexcludedfromthedistrict'slevelfinancialstatementsandaccountingcontrols.Thesefundspresentauniquecontrolchallengetoschooldistrictsgiventheirdecentralizednatureandth

3、eproductionoffinancialrecordsandreportsbynon-accountingpersonnel.Historically,littleattentionhasbeengiventoaccountingforactivityfundsinschooldistricts.Thenatureofactivityfunds,however,makesthemespeciallyvulnerabletoerror,misuse,andfraud.Inaddition,activityfundsoft

4、entotaltolargesumsofmoney,especiallywhencapturingtheamountsthatflowthroughaneducationalorganizationintheformofschoolboardfunds,student-generatedfunds,receiptsanddisbursementsrelatedtoathletics,andthemyriadco-curricularandextracurriculareventssponsoredbyschooldistr

5、icts.Asaresult,policiesandproceduresforimprovingcontrolsoverthesefundsandtopromotethecapturingallstudentactivity-relatedmoniesinthedistrict'sfinancialrecordsshouldbeimplemented.GeorgialawrecognizestheimportanceofSchoolActivityAccountsbyrequiringthefollowing:OCGA20

6、-2-962.QuarterlyReportsbyprincipals;auditsbylocalboards.Theprincipalofeachpublicschoolshallmakeaquarterlyreporttothelocalboardofeducationimmediatelyupontheendofeachquarterofthefiscalyear,andsuchreportshallcontainanaccountofallreceiptsandexpendituresofsuchfundsduri

7、ngthepastquarter.Theprincipalshallalsomakeanannualreportofthecomplete14II-45-14propertyinventoryoftheschool.Thelocalboardmayatanytimeduringtheschoolyearinspectallreceipts,expenditures,andpropertyofeachpublicschool.TYPESOFACTIVITYFUNDSANDPROPERCLASSIFICATIONSchoolA

8、ctivityAccountsareestablishedtodirectandaccountformoniesusedtosupportextra-curricularandco-curricularstudentactivities.Asageneralrule:·Extra-curriculara