Wautoma Area School District
Approved 12/10/81
Revised 10/14/99
The Board of Education shall provide for the preparation and adoption of the annual budget and shall provide, by the exercise of its taxing power, the funds necessary to finance the operations of the District schools. All monies belonging to the Wautoma Area School District shall be accounted for and disbursed by the Board of Education.
Legal Reference: Wisconsin State Statute §65.90, 120.12(3)
FEDERAL AID 640
Wautoma Area School District
Approved 12/10/81
Revised 10/14/99
It is the objective of the Board of Education to provide equal educational opportunities for all children within the District. It is the intent of the Board of Education to examine all federal legislation with this objective in mind, selecting those particular parts of the legislation that will enable the Board to provide a better educational environment, and better physical and mental growth for each pupil.
1. All aid dollars are considered a public trust, and the money is to be spent wisely following Board policy.
2. The Board shall be apprised of the applications for federal funds prior to their submission. Such aid will be accepted when the Board determines to its satisfaction that:
a. The program for which funds will be used is necessary for the proper education of our children.
b. The program cannot be financed from local funds.
c. Control of the program remains with the District.
3. In no circumstance will the Wautoma Area School District Board of Education apply for federal aid merely because it is available.
Legal Reference: Wisconsin State Statutes §120.13(6)
Approved 12/10/81
Revised 10/14/99
It is the objective of the Board of Education to provide equal educational opportunities for all children within the District. It is the intent of the Board of Education to examine all federal legislation with this objective in mind, selecting those particular parts of the legislation that will enable the Board to provide a better educational environment, and better physical and mental growth for each pupil.
1. All aid dollars are considered a public trust, and the money is to be spent wisely following Board policy.
2. The Board shall be apprised of the applications for federal funds prior to their submission. Such aid will be accepted when the Board determines to its satisfaction that:
a. The program for which funds will be used is necessary for the proper education of our children.
b. The program cannot be financed from local funds.
c. Control of the program remains with the District.
3. In no circumstance will the Wautoma Area School District Board of Education apply for federal aid merely because it is available.
Legal Reference: Wisconsin State Statutes §120.13(6)
FEDERALLY FUNDED PERMANENT PERSONNEL 641
Wautoma Area School District
Approved 10/14/99
No application for federal funds will include an amount to be used for employment of any permanent personnel, unless it can be demonstrated to the satisfaction of the Board of Education, that such personnel can be terminated at the end of the program, or the cost of those services can be financed on a continuing basis from regular budgeted funds available to the District from State and local sources.
Legal Reference: Wisconsin State Statute §120.14, 120.16(2), (5), 120.18
Cross Reference: 374-Fundraising Activities
Approved 10/14/99
No application for federal funds will include an amount to be used for employment of any permanent personnel, unless it can be demonstrated to the satisfaction of the Board of Education, that such personnel can be terminated at the end of the program, or the cost of those services can be financed on a continuing basis from regular budgeted funds available to the District from State and local sources.
Legal Reference: Wisconsin State Statute §120.14, 120.16(2), (5), 120.18
Cross Reference: 374-Fundraising Activities
STUDENT ACTIVITY FUNDS 662.1
Wautoma Area School District
Approved 03/24/1998
Revised 10/14/1999; 01/23/2006
Student activity fund accounts shall be established to handle receipts and expenditures of organizations and activities, which are an extension of school programs.
Student activities are defined as authorized clubs, class organizations and other related activities, which organize to raise money and/or promote a particular program, project or subject area. Parent groups such as a Booster or PTO are excluded from this distinction.
The district administrator is responsible for implementing policy and rules governing student activity funds; the district business manager is responsible for internal audits and appropriate accounting procedures and the building principal is responsible for daily management in accordance with established regulations.
All student activity funds shall be under the financial control of the Board of Education.
Administrative Rules:
1. Student participation is an important factor in the democratic management of money raised by the student body and expended for its benefit. Every organization shall have a student representative(s) who plan, approve and prepare the statement of purpose on file with the principal before financial activities may begin.
2. Each organization must have a faculty advisor approved by the principal.
3. All monies collected by student activities shall be deposited with the building secretary/designee. No monies are to be kept in the advisor’s classroom.
4. A pre-numbered multiple-part receipt system must be used for recording monies deposited in the school office. These receipts must be used in numerical order and voided receipts may not be destroyed. Receipt copies must go to the student organization, the school office and the district office.
5. Monies shall not be disbursed until the district office has an invoice from the vendor with a student activity account payment order, signed by the student representative, faculty advisor and principal. No check may be issued for which there are not sufficient funds on hand, unless prior approval for a clear plan of repayment is approved by the building principal.
6. Student activity funds should not be expended for employee travel, conventions, training or items that shall result in personal gain for an employee.
7. Student activity funds shall be held in interest bearing accounts whenever possible. Interest accrued shall be used to provide funds to operate the activity fund and awards programs at the school.
8. Any student activity fund account having no transactions for a period of twenty-four consecutive months shall be deleted, with remaining funds reverting to the School Board Scholarship account.
Approved 03/24/1998
Revised 10/14/1999; 01/23/2006
Student activity fund accounts shall be established to handle receipts and expenditures of organizations and activities, which are an extension of school programs.
Student activities are defined as authorized clubs, class organizations and other related activities, which organize to raise money and/or promote a particular program, project or subject area. Parent groups such as a Booster or PTO are excluded from this distinction.
The district administrator is responsible for implementing policy and rules governing student activity funds; the district business manager is responsible for internal audits and appropriate accounting procedures and the building principal is responsible for daily management in accordance with established regulations.
All student activity funds shall be under the financial control of the Board of Education.
Administrative Rules:
1. Student participation is an important factor in the democratic management of money raised by the student body and expended for its benefit. Every organization shall have a student representative(s) who plan, approve and prepare the statement of purpose on file with the principal before financial activities may begin.
2. Each organization must have a faculty advisor approved by the principal.
3. All monies collected by student activities shall be deposited with the building secretary/designee. No monies are to be kept in the advisor’s classroom.
4. A pre-numbered multiple-part receipt system must be used for recording monies deposited in the school office. These receipts must be used in numerical order and voided receipts may not be destroyed. Receipt copies must go to the student organization, the school office and the district office.
5. Monies shall not be disbursed until the district office has an invoice from the vendor with a student activity account payment order, signed by the student representative, faculty advisor and principal. No check may be issued for which there are not sufficient funds on hand, unless prior approval for a clear plan of repayment is approved by the building principal.
6. Student activity funds should not be expended for employee travel, conventions, training or items that shall result in personal gain for an employee.
7. Student activity funds shall be held in interest bearing accounts whenever possible. Interest accrued shall be used to provide funds to operate the activity fund and awards programs at the school.
8. Any student activity fund account having no transactions for a period of twenty-four consecutive months shall be deleted, with remaining funds reverting to the School Board Scholarship account.
CASH IN BUILDINGS 664
Wautoma Area School District
Approved: 06/26/2006
Monies collected by school employees shall be handled in accordance with good and prudent business procedures. The following procedures shall be used when handling cash in the schools:
1. All money shall be counted and turned into the building secretary daily.
2. The responsibility for making proper and timely bank deposits rest ultimately with the building principal.
3. All monies in excess of $100 shall be deposited daily.
4. Any monies to be kept in a school overnight shall be placed in a safe or locked container.
5. No money is to be left in the staff member’s desks or rooms.
6. Under no circumstances are monies to be taken home.
7. Staff members are accountable for any money not managed in accordance with this policy
Approved: 06/26/2006
Monies collected by school employees shall be handled in accordance with good and prudent business procedures. The following procedures shall be used when handling cash in the schools:
1. All money shall be counted and turned into the building secretary daily.
2. The responsibility for making proper and timely bank deposits rest ultimately with the building principal.
3. All monies in excess of $100 shall be deposited daily.
4. Any monies to be kept in a school overnight shall be placed in a safe or locked container.
5. No money is to be left in the staff member’s desks or rooms.
6. Under no circumstances are monies to be taken home.
7. Staff members are accountable for any money not managed in accordance with this policy
INVESTMENT PROGRAM 665
Wautoma Area School District
Approved 01/23/2006
The Wautoma Board of Education authorizes an investment program for the purpose of securing maximum yield of interest revenues to supplement other revenues for the support of the Wautoma School District’s educational programs. The Business Manager is responsible for managing all activities associated with the investment program as to accomplish the program’s objectives.
The district’s investment program shall be administered in a way that will ensure:
1) A continuous process of temporary investing of all idle monies available for investment purpose.
2) The use of a system of bids/quotes or negotiation to obtain maximum yield on all investments.
3) That all district investments will be made in compliance with existing federal and state laws.
4) That no aggregate deposit exceeding $500,000 shall be permitted in any one depository unless the depository agrees to furnish the district with either evidence of deposit insurance or evidence of collateralized securities backed by the United States government or its agency.
5) That all interest earnings shall be deposited to the fund from which the money was invested, except for funds which rely on the district’s operating fund for their cash flow needs while waiting for their revenue.
It is the district’s preference that investments are made in local lending institutions, which serve and benefit the district and the area where school tax dollars are raised as long as the rates of return are competitive with market rates throughout the school district’s area. An equitable balance must also exist between rate of return and the benefit derived by the relationship between the district and the financial institution.
Investments permitted under the district’s investment program include:
1) Bonds and other securities guaranteed as to principal and interest by the United States government or agency of the government.
2) Time and/or demand deposits with maturities of two year or less in financial institutions, which are financially secure and insured by the FDIC, or equivalent insurance program.
3) Repurchase agreements collateralized by securities back by the United States government or agency thereof.
Approved 01/23/2006
The Wautoma Board of Education authorizes an investment program for the purpose of securing maximum yield of interest revenues to supplement other revenues for the support of the Wautoma School District’s educational programs. The Business Manager is responsible for managing all activities associated with the investment program as to accomplish the program’s objectives.
The district’s investment program shall be administered in a way that will ensure:
1) A continuous process of temporary investing of all idle monies available for investment purpose.
2) The use of a system of bids/quotes or negotiation to obtain maximum yield on all investments.
3) That all district investments will be made in compliance with existing federal and state laws.
4) That no aggregate deposit exceeding $500,000 shall be permitted in any one depository unless the depository agrees to furnish the district with either evidence of deposit insurance or evidence of collateralized securities backed by the United States government or its agency.
5) That all interest earnings shall be deposited to the fund from which the money was invested, except for funds which rely on the district’s operating fund for their cash flow needs while waiting for their revenue.
It is the district’s preference that investments are made in local lending institutions, which serve and benefit the district and the area where school tax dollars are raised as long as the rates of return are competitive with market rates throughout the school district’s area. An equitable balance must also exist between rate of return and the benefit derived by the relationship between the district and the financial institution.
Investments permitted under the district’s investment program include:
1) Bonds and other securities guaranteed as to principal and interest by the United States government or agency of the government.
2) Time and/or demand deposits with maturities of two year or less in financial institutions, which are financially secure and insured by the FDIC, or equivalent insurance program.
3) Repurchase agreements collateralized by securities back by the United States government or agency thereof.
PURCHASING 672
Wautoma Area School District
Approved 10/14/99
The Board of Education recognizes the advantages of centralized purchasing in that volume buying can maximize value for dollars being spent. The Board shall authorize the district administrator to purchase and supervise the purchasing of all materials, goods, and supplies for the school system in accordance with State law and good purchasing practice.
The building principals may submit requisitions directly to the district administrator or the District building and grounds supervisor for budgeted supply and equipment purchases. The district administrator and/or building and grounds supervisor will purchase equipment in the manner most advantageous for the District. In cases where an equivalent product is considered for purchase, District staff will consult with the building principal.
Legal Reference: Wisconsin State Statute §120.12(24), 120.13(5), (33)
Approved 10/14/99
The Board of Education recognizes the advantages of centralized purchasing in that volume buying can maximize value for dollars being spent. The Board shall authorize the district administrator to purchase and supervise the purchasing of all materials, goods, and supplies for the school system in accordance with State law and good purchasing practice.
The building principals may submit requisitions directly to the district administrator or the District building and grounds supervisor for budgeted supply and equipment purchases. The district administrator and/or building and grounds supervisor will purchase equipment in the manner most advantageous for the District. In cases where an equivalent product is considered for purchase, District staff will consult with the building principal.
Legal Reference: Wisconsin State Statute §120.12(24), 120.13(5), (33)
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