504.7 STUDENT ACTIVITIES FUND

Revenue raised by students or from student activities shall be deposited and accounted for in the student activities fund.  This revenue is the property of and shall be under the financial control of the board. Students may use this revenue for purposes approved by the (superintendent or building principal).

Whether such revenue is collected from student contributions, club dues, and special activities or result from admissions to special events or from other fundraising activities, all funds will be under the jurisdiction of the board and under the specific control of (superintendent or building principal).  They will be deposited in a designated depository and will be disbursed and accounted for in accordance with instructions issued by the superintendent.

It shall be the responsibility of the board secretary to keep student activity accounts up-to-date and complete.

Any unencumbered class or activity account balances will automatically revert to the general fund activity fund of the school when a class graduates or an activity is discontinued.

Records and procedures relating to internal accounts shall be in accordance with those found inn Uniform Financial Accounting for Iowa Schools published by the Department of Public Instruction. An audit of these accounts shall be made at the same time as the annual audit of school funds.

Approved    1/18/99            Reviewed    8/18/21            Reviewed   8/18/21