The Board of Trustees has the power, authority and duty to expend local school activity funds, or other available school district funds, other than minimum education program funds, for the purposes described under this paragraph.  "Activity funds" shall mean all funds received by school officials paid or collected to participate in any school activity, such activity being part of the school program and partially financed with public funds or supplemented by public funds.  The term "activity funds" shall not include any funds raised and/or expended by any organization unless commingled in a bank account with existing activity funds, regardless of whether the funds were raised by school employees or received by school employees during school hours or using school facilities and regardless of whether a school employee exercises influence over the expenditure or disposition of such funds. 

 

Organizations shall not be required to make any payment to any school for the use of any school facility if, in the discretion of this Board of Trustees, the organization’s function shall be deemed to be beneficial to the official or extracurricular programs of the school.  For the purposes of this provision, the term "organization" shall not include any organization subject to the control of this Board of Trustees. 

 

Activity funds may only be expended for any necessary expenses or travel costs, including advances, incurred by students and their chaperons in attending any in-state or out-of-state school-related programs, conventions or seminars and/or any commodities, equipment, travel expenses, purchased services or school supplies which this Board of Trustees, in our discretion, shall deem beneficial to the official or extracurricular programs of the district, including items which may subsequently become the personal property of individuals, including yearbooks, athletic apparel, book covers and trophies.  Activity funds may be used to pay travel expenses of school district personnel. 

 

This Board of Trustees shall be authorized and empowered to promulgate rules and regulations specifically designating for what purposes school activity funds may be expended.  The local school governing board shall provide (i) that such school activity funds shall be maintained and expended by the principal of the school generating the funds in individual bank accounts, or (ii) that such school activity funds shall be maintained and expended by the superintendent of schools in a central depository approved by this board. 

 

This Board of Trustees shall provide that such school activity funds be audited as part of the annual audit required in § 37-9-18.  The State Auditor shall prescribe a uniform system of accounting and financial reporting for all school activity fund transactions.  § 37-7-301(s) 

 

 

 

Pursuant to the authority granted under §37-7-301(s), Miss. Code 1972, as amended, this Board of Trustees hereby authorizes the expenditure of local school activity funds, or other available school district funds other than minimum education program funds, for any necessary expenses or travel costs incurred by students and their chaperons in attending any in-state or out-of-state school related programs, conventions or seminars and/or any commodities, equipment, travel expenses, purchased services or school supplies which the Board of Trustees, in its discretion, shall deem beneficial to the official or extracurricular programs of the district, including items which may subsequently become the personal property of individuals, including yearbooks, athletic apparel, book covers, and trophies.  The activity funds account shall be audited annually.

 

 RECEIPTS

 

All activity funds received by a local school must be deposited into its activity fund bank account.  The principal must maintain a permanent three-part receipt book in which to record all receipts.  A person remitting activity funds to the principal for deposit will be given the original receipt, the second copy will be attached to the transmittal report to the central office, and the third copy will be kept in the book and on permanent file in the principal’s office.  All of these prenumbered receipts must be accounted for.  A copy of the deposit slip indicating the amounts of money deposited to the bank must also be attached to the transmittal report.  The deposit slip should indicate the sequence of receipt numbers that particular deposit covers.  The Board of Trustees shall set a dollar limit on the amount of money that may be receipted without being deposited.  The dollar limit should be such that there is never an unreasonable accumulation of undeposited money on hand in each particular school in the district.

 

DISBURSEMENTS

 

Any disbursements of activity funds must be made from the account on prenumbered checks.  The disbursement shall be adequately supported by an invoice or statement.  All purchases made with activity funds must comply with the state purchasing laws.  Only the principal may sign checks on the account.  All prenumbered checks must be accounted for.

 

REPORTING TO THE CENTRAL OFFICE

 

Within five working days of the close of the month, a principal shall deliver to the central office a transmittal of all activity fund receipts and disbursements during the preceding month.  This transmittal form shall contain receipts and disbursements by individual activity.  It will list each check by check number, date and purpose and each deposit by date, receipt numbers and source.  Upon receipt of the transmittal forms, the central office staff shall review them for accuracy and completeness prior to making the entries to the accounting records.  The information from the transmittal form will be used to reconcile the monthly bank statements.  All school district activity fund transmittal reports and bank reconciliations shall be reviewed and approved by the Board of Trustees.  This approval shall be acknowledged in the board’s official minutes.

 

FUND-RAISING

 

The Board of Trustees of the Durant Public School District is authorized to conduct, or may authorize others to conduct, on behalf of the school district, fund-raising activities deemed by the board, in its discretion, to be appropriate or beneficial to the official or extracurricular programs of the district.  Any proceeds of such fund-raising activities shall be treated as activity funds and shall be accounted for as are other activity funds.

 

Fund-raising activities conducted or authorized by the board for the sale of school pictures, the rental of caps and gowns or the sale of graduation invitations for which the Board of Trustees receives a commission, rebate or fee shall contain a disclosure statement advising that a portion of the proceeds shall be contributed to the student activity fund.

 

Any arrangement between a local school and company supplying merchandise, such as school pictures, class rings and caps and gowns, shall be by written contract, signed by the principal and the company’s representative, approved by the local Board of Trustees, and on file available for public review in the principal’s office.  The contract shall include all provisions of the arrangement, including any rebate or commission to the school.  Any rebate or commission provision in a contract shall be fully disclosed in the Board of Trustees minutes and to any prospective purchasers of the merchandise.  In cases where the merchandise is purchased by a student directly from the vendor, any such rebate or commission to the school shall be paid by check from the company directly to the school’s activity fund.  Under no circumstances shall a company or a purchaser make a payment directly to a principal.

 

MISCELLANEOUS

 

Any activity fund which becomes dormant and inactive may have its surplus, if any, transferred to another activity fund if approval is granted by the Board of Trustees.

 

Prenumbered tickets shall be used at any event at a local school for which a fee is charged for admission if the event generates more than $100.

 

All funds raised by any organization (such as PTA) on behalf of a local school may be deposited in the activity fund and used exclusively for such school’s benefit.  If the funds are deposited or commingled with activity funds, they shall be treated as activity funds and shall be subject to these policies.

 

The term "Activity Funds" shall not include any funds raised and/or expended by any organization, unless deposited or commingled with existing activity funds, regardless of whether the funds were raised by school employees or received by school employees during school hours or using school facilities.

Organizations shall not be required to make any payment to any school for the use of any school facility if, in the discretion of the local school governing board, the organization’s function shall be deemed to be beneficial to the official or extracurricular programs of the school.  For the purposes of this provision, the term "organization" shall not include any organization subject to the control of the Board of Trustees.

 

If any organization donates any assets to the school district, the Board of Trustees must acknowledge in its official minutes who has title to the donated assets.

 

School activity funds shall be classified as General Funds, Enterprise Funds, or Agency Funds.

 

PURCHASING

 

Purchases made from school activity funds which are totally financed with public funds must be made in accordance with state purchasing laws.

 

Purchases made from school activity funds which are financed in part with privately generated funds (e.g., student assessments, advertising revenue) and partially financed or supplemented with public funds must be made in accordance with state purchasing laws.  When private funds and public funds are combined to purchase items, the private funds are to be treated as public funds.

 

Purchases made from school activity funds which are financed with privately generated funds that are accounted for in a school district’s financial accounting system and are not supplemented in any way with public funds are not required to be made pursuant to the state purchasing laws.