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Adoption Date: 10/20/2008, Revised: 3/12/2012; 02/9/15
5000 - Non-Instructional/Business Operations

NON-INSTRUCTIONAL OPERATIONS
5520 EXTRACLASSROOM ACTIVITY FUND

An extraclassroom organization fund shall be established for activities conducted by students whose financial support is raised other than by taxation or through charges of the Board of Education.

 

All extraclassroom organizations shall be approved by the Board of Education. The Building Principal shall maintain an up to date register of all extraclassroom organizations that are approved or discontinued. Each extraclassroom organization shall have a faculty advisor appointed by the Board of Education. A Central Treasurer shall oversee all financial aspects of extraclassroom organizations. The annual District audit will include all extraclassroom organization funds.

 

 

All extraclassroom organization funds shall be handled in accordance with the financial procedures illustrated by Finance Pamphlet No. 2, the Safeguarding, Accounting and Auditing of Extraclassroom Organization Funds, published by the New York State Education Department.  All commitments and contracts shall be the sole responsibility of the extraclassroom organization giving rise to the transaction, regardless of a change in advisors, membership or officers.

 

 

Proper books will be kept and all moneys deposited in appropriate accounts as set up by the Board of Education. These accounts shall be subject to audit. All transactions involving extraclassroom funds shall be on a cash basis and no accounts shall remain unpaid at the end of the school year. Funds shall be invested in accordance with the Board of Education's Fiscal Management Policy on the "Investment of District Funds".

 

The extraclassroom organizations of the District are not included in the exemption granted to the School District from New York State sales tax. Without exception, organizations are prohibited from using the school's tax exemption. The Central Treasurer or Treasurer shall be responsible for filing the periodic sales tax returns for the extraclassroom organization funds.

 

Funds of discontinued extraclassroom organizations, those inactive for two (2) consecutive years or  two (2) consecutive years of graduated classes shall revert to the account of the following:

 

Discontinued Account          revert to          Account

Elementary Accounts                                   Elementary Student Council

Middle School Accounts                              Middle School Senate

High School Accounts                                  Leadership

 

and shall be expended in accordance with the organization's constitution

 

The Building Principals, with approval of the Superintendent of Schools, shall set up procedures for receipt and payment from the extraclassroom organization fund in their respective schools.

 

 

 

8 New York Code of Rules and Regulations (NYCRR) Part 172

 

Refer also to Policy #5620 -- Inventories and Accounting of Fixed Assets

 


Policy References:
Refer also to Policy #5620 -- Inventories and Accounting of Fixed Assets

Policy Cross References:
 » 5620 - FIXED ASSET INVENTORIES, ACCOUNTING AND TRACKING