Transfer of Funds
All line item transfers in excess of $5,000 require prior approval by the School Committee. Emergency transfers may be authorized by the Superintendent; written notice of such transfers, with justification, shall be provided to the School Committee.
Policy Adopted:
04/24/1995
Policy Revised:
09/12/2017
Reviewed Date:
9/10/2019
Monthly Financial Report
The School Committee shall receive a monthly financial statement which shall include year-to-date expenditures, revenue, and any other information as requested.
Policy Adopted:
24 April 1995
Revised Date:
9/10/2019
Special Functions
All special functions shall be supported by a combination of registration fees, material charges, service charges, local, state and federal funds. All charges shall be determined by the West Warwick School Committee after Consultation with the Superintendent of Schools.
Reviewed Date:
9/10/2019
School Stores
School stores may be established in individual schools provided they do not violate any federal, state or local statute that dispenses funds to the West Warwick School Department, nor policies established by the West Warwick School Committee.
To this end, the building principal shall establish and maintain a system of accounting for all receipts and expenditures, prepare and submit all fiscal reports, maintain a perpetual inventory of all supplies and equipment under his or her control, and make available such accounts to be audited annually by the state auditors or by an independent public accountant, as directed by the West Warwick School Committee.
References:
RI Gen. Laws § 16-2-15 Location of schools - Control of property
RI Gen. Laws § 16-38-6. Restrictions on commercial activity and fundraising in public schools
Policy adopted:
5/9/77
Reviewed Date:
9/10/2019
Picture Money
The West Warwick School Committee may allow commissions based upon the sale of student pictures to be kept in individual accounts by the administrators of the respective schools, provided that said monies be used for the general welfare of students.
The school committee through the Superintendent of Schools holds the building Principal directly responsible for carrying out this policy, and may request such accounting and/or fiscal reports as it deems necessary.
References:
RI Gen. Laws § 16-2-15 Location of schools - Control of property
RI Gen. Laws § 16-38-6. Restrictions on commercial activity and fundraising in public schools
Policy adopted:
3/31/76
Reviewed Date:
9/10/2019
Vending Machines
The West Warwick School Committee may allow commissions based upon the sales of materials through vending machines to be kept in individual accounts by the administrators of the respective schools, provided that said monies be used for the general welfare of students.
The school committee through the superintendent of schools holds the building Principal directly responsible for carrying out this policy, and may request such accounting and/or fiscal reports as it deems necessary.
References:
RI Gen. Laws § 16-2-15 Location of schools - Control of property
RI Gen. Laws § 16-38-6. Restrictions on commercial activity and fundraising in public schools
Policy adopted:
7/21/77
Reviewed Date:
9/10/2019
PURPOSE:
The purpose of this policy is to establish School Committee guidelines and expectations for the spending of District money in accordance with the Governmental Accounting Standards Board (GASB) 54 which was effective June 30, 2011.
PHILOSOPHY:
The School Committee recognizes that in order to provide a stable financial environment for the operations of West Warwick Public Schools and to provide a high-quality education to the students of West Warwick in a fiscally responsible manner this spending policy has been designed to appropriately identify and classify the use of the District’s fund balances, as well as appropriately identify and record all revenue streams. This policy is meant to serve as the framework upon which consistent and transparent operations may be built and sustained.
POLICY DEFINITIONS:
Fund Balance: Fund balance is the difference between assets and liabilities in governmental funds (i.e. general fund, special revenue funds, capital project funds, debt service funds and permanent funds).
Non-Spendable Fund Balance: The Amount of a fund balance that cannot be spent because it is either not in spendable form or there is a legal or contractual requirement for the funds to remain intact (i.e. prepaid expenses, inventory, fixed assets, endowment principal, etc.).
Restricted Fund Balance: The amount of a fund balance that can only be spent on specific expenses due to constraints on the spending because of legal restrictions, outside party creditors, and grantor/donor requirements (i.e. debt service fund balances, bond fund balances, grants and donations with specific spending constraints).
Committed Fund Balance: The amount of a fund balance that includes the portion of the spendable fund balance but has constraints on the spending that the School Committee has imposed upon itself by a formal action. This constraint must be imposed prior to a fiscal year end, but the specific amount may be determined at a later date. (i.e. Capital Projects Fund, Debt Service, Set Aside Funds, etc.)
Assigned Fund Balance: The amount of a fund balance that includes the portion of the spendable fund balance that reflects funds intended to be used by the government for specific purposes assigned by information operational planning (as an example capital goods replacement, annual technology budget replacement, etc.). The assigned fund balance represents a “plan” for spending the amount, but it is not restricted or committed. The authority to “assign” fund balance is designated to the Director of Financial Operations.
Unassigned Fund Balance: The amount of a fund balance that is in the General Fund and includes all spendable amounts that are not otherwise contained in the classifications listed above, and therefore, not subject to any constraints or intended use. Unassigned amounts are available for any purpose. These are the current resources available for which there are no external or self-imposed limitations or set spending plan. Although there is generally no set spending plan for the unassigned portion, there is a need to maintain a certain funding level. Unassigned fund balance is commonly used for emergency expenditures not previously considered. In addition, the resources classified as unassigned can be used to cover expenditures for revenues not yet received.
Policy Procedure Write-up
Procedure: Internal Controls over federal, state and local accounting
Procedure Number: II.B.2 Date: 7/1/2017
Purpose
The Purpose of this procedure is to provide guidance on Internal controls over federal, state and local accounting.
Authority
School Committees and Superintendents [See Title 16 Chapter 97 – The Rhode Island Board of Education Act]
SECTION 16-2-9.4
School district accounting compliance
Staff Responsibilities
School Committee, Superintendent, Director of Financial Operations, District Accountant, Department Heads/Principals
Definitions
Director of Financial Operations = DOF
Infinite Visions = IV
Procedures
Budget:
The district utilizes Tyler Technologies Infinite Visons system. This system maintains budget limits down to the individual detailed accounts adopted by the Town and School committee. No purchase can be requested if the account does not have available budgeted funds remaining, this can only be over ridden by the DOF and District Accountant.
Access to the system information:
Each user in the IV has access provided based on the needs of their department. The only users with unlimited access is the DOF and District Accountant.
Purchases:
Purchases are requested and processed through IV and follow a specific workflow for approval. Starting with approval by department heads. Any purchases with federal funds then flow to the Director of Special Education (IDEA funds only) and the Director of Federal Programming and Innovative Practice sees all Federal and State funded requests. Each must review and approve the requests before being moved on. The accountant then receives all requests and validates the correct UCOA is used. In the case of federally funded, the accountant validates the request is in the approved CRP. The DOF then receives the request for final review and if approved creates the purchase order and the accounts payable clerk processes the order.
Positions:
IV uses position control. The DOF is the only individual with access to the Master Budgeted Positions module. A “position” cannot be added if it will cause the total number of positions to exceed current budgeted amount of FTE. If a new position is required a Position Justification form is filled out by the requester, the form requires a written justification for the request and the recommended funding source. The Superintendent and the DOF will meet to discuss the requested position and if approved it is signed by both. Once that form is signed the DOF will add the position to the current budget and it can then be posted and filled.
Reports
Financial reports are provided to the Superintendent and School Committee on a monthly basis.
Supersession (Replacement)/Cancellation
This Does not suppress, replace or cancel any other procedure.
Maintenance
Developed by Director of Financial Operations and the Director of Federal Programming and Innovative Practices, to be reviewed annually and updated if required.
Signature, Effective Date
_________________________________________ ___7-1-2017___
Joseph Spagna, Director of Financial Operations Date
Distribution List
Internal
Adoption Date:
9/12/2017
Policy Procedure Write-up
Procedure: Allowability of Costs and cost Principles
Procedure Number: II.B.3 Date: 7/1/2017
Purpose
The Purpose of this procedure is to provide guidance on Allowability of Costs and cost Principles
Authority
CFR §200.305
Staff Responsibilities
School Committee, Superintendent, Director of Financial Operations, Director of Federal Programming and Innovative Practices, Director of Special Education, District Accountant
Definitions
Director of Financial Operations = DOF
Director of Federal Programming and Innovative Practices = DOIP
Director of Special Education = DOSP
Procedures
In accordance with CFR §200.403, program directors review costs for allowability as part of the request process and approval (see Internal control procedure). This review includes a test of the cost:
Necessary, Reasonable (in reference to CFR §200.403) and Allocable (in reference to CFR §200.405)
Conforms to the limitations or exclusions set forth by the principles of the federal award
Is consistent with policies and procedures that apply uniformly to both federally-financed and other activities of the non-Federal entity.
Is accorded consistent treatment. A cost may not be assigned to a Federal award as a direct cost if any other cost incurred for the same purpose in like circumstances has been allocated to the Federal award as an indirect cost.
Is determined in accordance with generally accepted accounting principles (GAAP), except, for state and local governments and Indian tribes only, as otherwise provided for in this part.
Not be included as a cost or used to meet cost sharing or matching requirements of any other federally-financed program in either the current or a prior period. See also §200.306 Cost sharing or matching paragraph (b).
Be adequately documented. See also §§200.300 Statutory and national policy requirements through 200.309 Period of performance of this part.
All requests for reimbursement of expenditures that are considered non-direct services (direct services include special education teachers, related services personnel, etc.) shall be accompanied by a written narrative that explains in detail how the purchase supports the federal program. If no written documentation is received the request will be denied. If written documentation is found to not adequately support federal program request will be denied.
A final review is performed by the district accountant and DOF as part of the approval process.
Reports
N/A
Supersession (Replacement)/Cancellation
This Does not suppress, replace or cancel any other procedure.
Maintenance
Developed by Director of Financial Operations and the Director of Federal Programming and Innovative Practices, to be reviewed annually and updated if required.
Signature, Effective Date
_________________________________________ ___7-1-2017___
Joseph Spagna, Director of Financial Operations Date
Distribution List
Internal
Adoption Date:
9/12/2017
Policy Procedure Write-up
Procedure: Payments
Procedure Number: II.B.4 Date: 7/1/2017
Purpose
The Purpose of this procedure is to provide guidance on procedures to implement requirements of Payments.
Authority
CFR §200.305 Payment
Title § 16-7-24 Minimum appropriation by a community for approved school expenses.
Staff Responsibilities
School Committee, Superintendent, Director of Financial Operations
Definitions
Director of Financial Operations = DOF
Procedures
Federal Funds are received on a reimbursement basis only. By choice. Requests for reimbursement are made through the Accela Grants web site and the cash is received via RIPAY to the Town. These funds are transferred to the school department account the first week of each month.
Local taxpayer funds (local appropriation) are received bi-monthly over 12 months and are transferred directly into the schools account.
Reports
Financial reports are provided to the Superintendent and School Committee on a monthly basis.
Supersession (Replacement)/Cancellation
This Does not suppress, replace or cancel any other procedure.
Maintenance
Developed by Director of Financial Operations and the Director of Federal Programming and Innovative Practices, to be reviewed annually and updated if required.
Signature, Effective Date
_________________________________________ ___7-1-2017___
Joseph Spagna, Director of Financial Operations Date
Distribution List
Internal
Adoption Date:
9/12/2017
The vendor must provide 25 names of current employees who would like to participate in
their offered product. Once those names are received they will be reviewed by the
business office and the request will be forwarded to our 3 party investment manager. They will then verify that they are a valid service provider and if approved the deduction will be set up in the payroll system. The Director of Financial Operations reserves the right to accept requests that do not meet the required 25 interested employees if it is determined to be in the best interest of the district and its employees.