Board Policy DKA: Extended Program Funds Management

Extended Program Funds Management

Funds collected by local schools on behalf of or for the benefit of students in connection with the provision of after care, extended day and academic enrichment programs (“Program”) operated by the local school shall be managed by the local school under the following conditions:

1. From such proceeds, the DeKalb County School District shall retain ten percent (10%) of gross receipts. Thereafter, the direct expenses of the program shall be paid. Such expenses, as well as the payees of such expenses, shall be in accordance with the policies of the DeKalb Board of Education or administrative regulations issued by the Superintendent.

2. Monies remaining after the deductions and payments in number 1 above shall be retained by the local school subject to the following: The DeKalb County School District Division of Finance shall maintain the local school share and such share shall be maintained, for bookkeeping purposes, in a separate coded account divided into two subaccounts representing (a) current year revenues and (b) cumulative surpluses from prior years. To the extent that the subaccount (a) monies are insufficient to pay the costs of the Program, monies shall be transferred from subaccount (b). A local school may retain locally an amount not to exceed two thousand five hundred dollars ($2, 500) of the foregoing sub account (B) monies but such monies shall be maintained in a federally insured bank in an account separate from other school funds. Written records shall be maintained in accordance with an administrative regulation issued by the Superintendent.

3. The Division of Finance shall provide each local school bi-monthly reports of the funds available in each subaccount as well as other pertinent financial information.

4. A local school may expend its subaccount (b) monies for purposes that support either the Program or the academic program and mission of the local school. Such expenditures in furtherance of the academic program and mission of the school shall not be required to be tied to the Program. The Superintendent may issue an administrative regulation defining permissible expenditures in support of a school’s academic program which are consistent with the intent of this Policy.

5. For the purposes of fiscal management, any expenditure of five thousand dollars ($5000) or more shall require the written approval of the Chief Financial Officer or the CFO’s designee but such approvals may only be withheld if proposed expenditures are inconsistent with this policy, materially inconsistent with the district’s purchasing policy, or insufficient monies are in the school’s subaccount (b) . Such approvals shall be issued on a timely basis.

6. Nothing herein shall prohibit a school from charging for the Program and separately charging for other enrichment activities or clubs which may be offered before or after the school day.

7. School personnel shall maintain a clear audit trail.

8. DCSD may provide for an annual review of each school by either an internal or external auditor and shall provide such a review at least once every three years.

9. DCSD shall use an accounting system that complies with generally accepted accounting principles and rules issued by the Superintendent.

10. This policy shall apply to monies currently on account and monies collected in the future.