Policy 4.3.7

Student Activities Funds

The Board hereby authorizes the following policy setting forth the process for establishing and maintaining Student Activities Accounts. The Principals of each building shall be responsible for the proper administration of the financial activities of the Student Activities Accounts in accord with the provisions of State Laws and Regulations and as illustrated by Finance Pamphlet No. 2, the Safeguarding, Accounting and Auditing of Extraclassroom Activity Funds, published by the NYS Education Department.

All monies collected shall be deposited in interest bearing Student Activities Accounts at a district designated bank. Fundraisers held for the benefit of students must be approved by the Superintendent of Schools prior to the event. All monies fundraised must be deposited in a Student Activities Account and must be managed according to district policy, state law and general municipal account standards.

All payments made from each Student Activities Account shall have the approval of the club advisor, and central treasurer and/or appropriate building club advisor responsible for the Student Activities Accounts and bear at least two (2) authorized signatures. The fund treasurer shall ensure that internal control is exercised in accordance with state promulgated standards of auditing and accounting.

The School District shall annually audit student activity funds. Payment for the audit shall be made from District funds.

Student Activities monies shall be defined as “funds raised other than by taxation or through charges of a board of education, for, by or in the name of a school, student body or any subdivision thereof.” That is, student activity funds are operated for and by the students, with accounting and auditing performed by District personnel.

Monies raised by student organizations must be expended for the benefit of the students. Student activity funds shall be invested in accordance with the Board of Education’s fiscal management policy pertaining to the investment of District funds. All interest earned from the Student Activities checking account at each school site will be distributed to the student councils in those buildings in July of each fiscal year. All interest earned from the savings account for the Student Activities Account will be utilized to purchase accounting supplies for administering the co-curricular funds. In addition, the remaining interest will be distributed each July to the student councils (or its  equivalent) according to a ratio equal to student enrollment at the Middle School site and the High School site.

Students desiring to form an activity fund shall petition their principal in writing. The petition shall state the purpose of and describe the activities of the proposed activity and shall be signed by at least seven students before it is presented to the principal for action. If the purpose of the activity falls within the scope of educational or school service purposes and if the necessary space and equipment are available, the principal, in conjunction with the petitioning students, shall seek an adviser. When these procedural requirements have been fulfilled, the building principal shall recommend to the Superintendent that the student activity be approved by the Board of Education. The Superintendent shall maintain an up-to-date list of all activity funds approved or discontinued. Discontinued activity funds shall be defined as those that remain financially inactive for one full school year or discontinued by request of the faculty adviser assigned to the activity fund.

Each activity fund shall have a faculty adviser, and a student president, secretary and treasurer. Officers shall be elected annually from among the membership by secret ballot.

Proper books shall be kept for all student activity funds. Moneys deposited or withdrawn from student activity funds shall be done in accordance with the “Procedures for Handling Funds” as set forth in Finance Pamphlet No. 2, the Safeguarding, Accounting and Auditing of Extraclassroom Activity Funds.