D – FISCAL
MANAGEMENT- June 2011
DA GOALS AND OBJECTIVES
The Board has set the following goals for its fiscal management system.
1. Approve a financial base adequate to support education.
2. Provide long-range planning, budgeting, and evaluation.
3. To establish management practices that meet the standards that are set by the board.
DB PLANNING PROGRAMMING BUDGETING SYSTEM
The School Board shall implement a system of program budgeting and evaluation in order to match school system performance with the School Board’s goals.
DC ANNUAL OPERATING BUDGET
Prior to July 1 of each year, the Business Manager, in conjunction with the Superintendent, shall prepare and submit to the School Board for review and approval an estimated budget for the new fiscal year based on grants, contracts, and other sources of revenue available for operation of Enemy Swim Day School.
DCB FISCAL YEAR
The Enemy Swim Day School Board operates under a budget for the fiscal year that begins July 1 and ends June 30 of each subsequent year.
DCH PERIODIC BUDGET RECONCILIATION
Monthly budget reviews shall be made to determine if receipts and expenditures are in keeping with budgeted figures.
DE DEBT LIMITATIONS
The Board shall not incur any debt which:
1. Obligates funding which is not within prescribed funding line item guidelines or repayment plan of the debt;
2. Is not within the prescribed and authorized scope of the operation of the School.
DF REVENUES
Funding for the operation of the Enemy Swim Day School and supplementary programs and services required in providing a quality program at the school are derived from federal as well as non-federal resources.
DFC FEDERAL AID
The Enemy Swim Day School is a PL 100-297 BIA Contract school and has access to other entitlement and discretionary contract and program (grant, other) resources, and is required to administer federally-funded programs in compliance with federal guidelines.
DFG LEASING/RENTAL
The Board sets the guidelines for any leasing/renting facilities and equipment.
DFL INVESTMENTS
The Business Manager, in consultation with the
Superintendent and the consent of the Board, shall seek opportunities for the
investment of funds, legally allowed for investment. The Board will review the investments at the
annual reorganizational meeting.
DFN PROPERTY SALES
Sale of school property shall be set by the school board in accordance with federal or other applicable laws. The revenue resulting from the sale of property by the Board shall be budgeted and expended in accordance with the fiscal accounting and reporting procedures of the Board.
DG DEPOSITORY OF FUNDS
Banking institution agreements shall be considered annually at the October re-organizational meeting. The Board shall have the authority to change their banking institution at any time.
DI ACCOUNTING AND REPORTING/ACCOUNTING SYSTEM
The Enemy Swim Day School Board will establish and utilize a fiscal accounting and reporting system and process to conform with federal and other funding agency requirements. The Business Office shall make monthly financial reports to the Board which contains an account of all receipts and disbursements of school funding in accordance with the fiscal accounting and reporting system of the Board.
DIC INVENTORIES
The Business Office shall issue a list of equipment in each classroom/office to each designated person. It shall be the responsibility of that designated person to keep complete and accurate count of their inventory and submit a copy of this inventory to the Business Office by the last day of the school year indicating any changes that have occurred. (Purchase of new equipment, transferring from one area to another). The Business Manager shall reconcile master inventory with those submitted by each designated person at the end of the school year and note all changes that have occurred during the year.
DID AUDITS
The Board shall conduct external audits of all school program accounts and sources of revenue. Audits shall be conducted by a certified CPA firm in accordance with all applicable federal, tribal, and state laws. The Board shall review the auditing reports as presented by the auditor and shall implement policy, procedure or other changes which will increase the accountability, documentation, and cost-effectiveness of the overall fiscal management of school funds.
DJ EXPENDITURE OF FUNDS
The Superintendent is authorized to expend funds based on Board approved budgets. Any individual purchase over $2,500 requires bids and specific Board approval. An adequate number of quotes will be obtained prior to the approval.
DJA CHECKING ACCOUNTS
Checking accounts necessary to conduct school business shall be established and maintained in the school official depository.
DJAA AUTHORIZED SIGNATURES
The Superintendent as the Board’s authorized agent, shall sign all reports, requisitions, and other official documents.
DJAB CHECK WRITING
All checks written on behalf of the Board are completed by the Business Manager with the exception of payroll, which is completed by the Business Assistant. No other personnel are authorized to write checks on behalf of the Board. No checks are to be written without the appropriate authorized signatures and attached documentation (purchases requisitions, purchase orders, etc.).
DJC PAYROLL PROCEDURES
All school personnel will be paid in accordance with the salary and terms stated in their annual contract of employment or salary schedule as appropriate. Any adjustments in salary deemed necessary because of absences, termination or late employment will be made in accordance with the length of the work year approved for specific positions.
DJCA PAY DAY SCHEDULES
Employee payroll shall be prepared and distributed on a bi-weekly basis consistent with the pay period schedule approved by the Board, for the duration of the employee’s annual contract term. Employee payroll checks will be issued throughout payday by the Business Office.
DJCB PAYROLL DEDUCTIONS
The Board shall make payroll deductions for the following:
1. Required federal or other taxes
2. Employee share of fringe benefits
3. Credit Union contributions and payments
4. Tribal entity deductions
5. Deductions required as garnishment due to legal judgement by Tribal Court
6.
Other Debts owed to
DJD EXPENSE REIMBURSEMENT
Reimbursement for expenses incurred by school employees and all others on school business which is approved in advance for official school business shall be reimbursed consistent with the following rates set by the School Board at the Re-organizational Meeting.
All travel must be approved by the Superintendent and Board prior to issuance of per diem checks. A Trip Report must be completed by the employee within 5 working days from their return from travel. Motel and other receipts must be turned into the Business Office within 5 working days from return from travel. Travelers will receive meal per diem and estimated mileage allowance in advance. The remainder will be reimbursed upon submittal of receipts and Trip Report.
If employee does not travel after receiving his/her meal and mileage advance, the advance will be deducted from the employees next payroll check. If a program or funding resource provides reimbursements, these reimbursements must be turned into the Business Office upon receipt.
DJEA PURCHASING AUTHORITY
The Superintendent must approve all purchase requisitions based on the Board approved budget. All purchase requisitions must have the Superintendent approval and a purchase order from the Business Office. Large expenditure items must have Board approval as indicated in Policy DJ.
DJED BIDDING AND QUOTATIONS
Bids and quotes will be acquired for major improvements over $2,500.00. Indian preference will be considered in award of bids by the Board dependent upon cost effectiveness of submitted bids. No bids are required when a vendor is the only source for supplies. TERO guidelines are adhered to. An adequate number of quotes will be obtained prior to the approval.
DJEE VENDOR APPROVAL
Any new vendors that the school anticipates utilizing must be verified according to the vendor website www.epls.gov.
DJEG PURCHASE ORDERS AND CONTRACTS
All purchases for the School will be made through the Business Office on approved purchase requisitions. Employees are not allowed to make purchases or obligations. Purchases by the school shall follow the following procedure:
1. The employee requesting purchase of goods or services must complete and submit a purchase requisition to the Superintendent. The form must include all requested purchasing information and have available funding within the budget. The Superintendent will approve the purchase requisition and the approved purchase requisition will be turned into the Business Officer.
2. The Business Office will review the approved requisition for the appropriate fund and line coding.
3. If a purchase order is required, a purchase order will be issued by the Business Office. The purchase order along with the purchase requisition will be turned over to the Business Assistant. The Business Assistant will place the order and place the purchase order in the appropriate file to await receipt of goods.
4. Upon receipt of purchased items, the Business Assistant shall compare goods received with the packing slip, noting any differences. Notify the vendor if there is a difference between the receipt of goods and the packing slip. If the goods are to be tagged and inventoried, it is the responsibility of the Business Office.
5. The vendor, upon submittal of an itemized invoice and upon review as to the purchase order and packing slip, shall receive payment.
6. Unapproved purchases are subject to denial of payment.
Disbursement of payments for purchased goods and services shall be made on a monthly basis.
DJEJ ACCOUNTING DISBURSEMENTS
1. Fill out purchase requisition Employee
2. Approval of purchase requisitions Superintendent
3. Check out account codes with budget Supt./Bus. Man.
4. Issue purchase order if needed Business Assistant
5. Place order Business Assistant
6. Upon receipt of goods, compare purchase order/
purchase requisition to packing slip. Business Assistant
7. Upon receipt of invoice, compare invoice to purchase
order/purchase requisition and packing slip. Business Manager
8. A voucher is filled out and signed for approval with
invoice and supporting documents included. Business Manager
9. Signed for approval. Superintendent
10.Prepare cash disbursement batch and post. Business Manager
11. Prepare check from cash disbursement batch. Business Manager
12. Review of vouchers by Board. Authorized
check signers to satisfy two signature requirement. School Board
13. Forward check to vendor and fill in check number
and date on voucher. Business Manager
14. File voucher and check stubs. Business Manager
DJEJ CASH RECEIPTS
DRAW DOWNS:
1. Request funds through BIE Office
and sign draw down requests. Superintendent
2. Check online in 3-4 days to see if funds
have been received. Business Manager
3. Prepare cash receipts entry form.
Code cash to appropriate fund. Business Manager
4. Create and Post cash receipt batch. Business Manager
5. File cash receipt form in monthly file folder. Business Manager
DK/JHA STUDENT ACTIVITIES FUND MANAGEMENT
The management of Student Activities Fund Raising is under the immediate supervision of the Superintendent.
1. All fundraising must be approved by the Superintendent.
2. All funding raised by students or student activity sponsors must by deposited in the appropriate account.
3. The Business Manager shall be responsible for documenting all revenue.
4. Activity Admission charges or fees assessed for sponsored events through student activities shall be established by the Athletic Director.
5. The Administrator shall provide monthly reports to the Board as needed.
DKA SWO FUNDING REQUESTS
Funding requested from the tribe for school activities and student functions must be accompanied by a budget.
DL CASH IN SCHOOL BUILDINGS
All monies shall be deposited in the designated bank on a timely basis. Bank deposits shall be made during regular banking hours.
DO SCHOOL PROPERTIES DISPOSAL PROCEDURE
School Properties disposal shall be set by the school board.
CASH AND CHECKS:
1. Receipt log Business Assistant
2. Prepare cash receipts form. Business Manager
3. Create and Post cash receipt batch. Business Manager
4. Compare checks and cash to deposit slip and cash receipt form. Business Assistant
5. File cash receipt form in monthly file folder. Business Manager
CHECK AND BALANCE
1. Prepare Monthly Financial Report on receipts and
disbursements. Business Manager
2. Approval of Financial Report School Board
3. Reconciliation of Bank Statement Business Assistant
Revised June 2011