In this module, participants will gain a deeper understanding of the policies and procedures for collecting and receiving cash, depositing it in the bank, and handling checks returned for insufficient funds. Cash and checks are collected from students and others in the community, either as SAF fees and charges, field trip costs, sales of items such as year books and uniforms, club dues, fundraising, or donations. Processing cash is a high-risk area and internal controls must be established and followed to reduce the possibility of theft of receipts. Monies received must be documented, cash and checks must be handled according to established policy, and must be deposited into the school’s SAF account. When a check that was received and deposited is returned by the bank for insufficient funds, procedures must be followed to record the bad check and attempt to collect funds from the check maker.
Please click on the Student Activity Fund Quizzes link below to access the SAF Quizzes (Modules 2-13). You will receive a confirmation email once you are registered in Canvas LMS with instructions on how to access the system.
Know the policies regarding handling cash, such as commingling with other funds, cashing checks, making loans, and making change
Know what student fees are authorized by state law and Board of Education policy
Understand the difference between an official receipt and a collection record
Know where to deposit the various moneys collected in the school office – e.g. bus, lunch, A+, community use of school facilities, reimbursement for lost textbooks, summer school tuition, various SAF collections
Know the procedures for handling collections made outside the school office
Know what to do if the Category Name/Number to input for a receipt is not known at the time of data entry
Know what information must be written or entered on an official receipt
Know what the SAF-assigned receipt number means and how to make the SAF System create a receipt number
Know how to document monies received at a cash register
Know what to do if an error is made on an official receipt
Know the procedures for receiving checks
Know how to prepare money for deposit
Understand why the pre-printed deposit slips must be used
Know what documents to file with deposit slips
Know what to do if the amount received by the bank does not match the deposit slip
Know how to handle checks returned by the bank due to insufficient funds
Know how to record the mandatory DAGS service fee for bad checks
Understand the reason cash collections should be counted by 2 adults with both employees observing and assisting
Understand the reason for posting cash receipts daily