Student Activity Fund

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. 

Student Activity Fund Quizzes 

The objectives of this learning module include:

• • Know what sequence the accounts must be reconciled (i.e. which month to reconcile first)

  • Know the monthly deadline for bank reconciliations

  • Know what to do if an investment account does not have a monthly statement

  • Know what to do if there are outstanding checks dated more than 180 days prior to the reconciliation

  • Understand why the best practice is for the Principal to be the first one to open the bank statement, review and initial before forwarding to the office staff person for reconciliation with SAF

  • Know what reports should be printed each month after the reconciliation has been completed in SAF, which reports are signed by the preparer, and which are signed by the Principal

  • Understand the relationship between the monthly reconciliations and the Administrator’s Checklist (SAF-IC1)

  • Know what to look for when reviewing copies of cancelled checks

  • Know what to do if the wrong month end date was entered on the SAF reconciliation screen

  • Know what to do if the amount the bank recorded for a deposit or check is different than the amount recorded in SAF

  • Know how to file the documentation of the monthly reconciliations

  • Understand the reasons monthly bank reconciliation is important

  • Know the recommended segregation of duties

  • Know what to do if the bank statement does not reconcile to SAF

  • Know how and why to check for deposits in transit