710P - School Activity Funds

All funds derived from extracurricular school activities, such as entertainment, athletic contests, fundraisers, club dues, and from any and all activities of the school involving personnel, students, or property are considered school activity funds. 

School activity funds shall be maintained in accordance with school board policies, with the Frederick County Public Schools Manual of Accounting as promulgated by the superintendent, in accordance with regulations issued by the State Board of Education, and in compliance with the legal reference cited for this policy.  It shall be the duty of each principal to see that such records are maintained in accordance with this policy.

Teachers and other school personnel who come into possession of cash in connection with school activities shall not leave the money unattended.  As soon as is possible, and no later than the end of the school day, personnel in possession of cash shall turn it over to the principals’ office for safekeeping and proper accounting.

Each school shall maintain an accurate, up-to-date accounting system of all money collected and disbursed by the school so that a clear and concise statement of the condition of each fund may be determined at all times.  These funds shall be deposited in accounts in the name of the school. 

The principal or person designated by him/her shall perform the duties of school finance officer or central treasurer.  The school finance officer shall be bonded, and the superintendent shall prescribe rules governing such bonds for employees who are responsible for these funds. 

Reference:

8 VAC 20-240-10 et seq.

Virginia Department of Education, Guidelines for School Activity Funds, March 1989.

Code of Virginia, 1950 as amended, §22.1-122.1, 22.1-88

Adopted:         February 6, 1990

Amended:       August 21, 2007

Amended:       June 17, 2008

Amended:       January 19, 2016