Revised manual for student activity accounting for Virginia's public schools

Student activities accounting procedures are carried out in all public school systems throughout the Commonwealth of Virginia. These accounts are created to allow individual educational agencies to deposit, disburse, and account for all funds relating to school activities. In 1954 the original manual for Student Activities Accounting was developed by the Virginia State Department of Education and was revised in 1989.

The policies and procedures contained in this manual are intended for application throughout all public schools in Virginia, and are not considered regulatory. However, local school board policies should be reviewed so that they meet the objectives of the manual while conforming to the policies and procedures that are unique to each school system.

The purpose of this manual is to provide assistance to those persons who are involved in the financial accounting and management of school activity funds for all Virginia Public Schools. It reflects the newest legislation concerning school accounting and considers the opinions of the Executive Director of the Association of School Business Officials and Virginia Certified Public Accountants. Recommendations were solicited from assistant superintendents of finance representing small, medium and large school divisions as well as elementary, middle and high school bookkeepers. Additionally, Attorneys’ General opinions relative to the management of school activity funds were obtained and are included in the revised manual.

All aspects of student activities accounting procedures and practices are covered. The manual is designed to be a user-friendly guide that allows school personnel easy access to accounting information. It offers recommendations to ensure proper accounting policies and procedures as related to student activity accounting, guidance for accurate disposition and accounting for all funds, and explicit explanation of the forms needed to carry out day-to- day business practices. It is available in binder form and disk to all public school systems throughout Virginia. There are several accounting software packages available at reasonable costs that will save time and will help to eliminate careless accounting errors. Technology will also provide the principal and bookkeeper with immediate information through detailed printed reports, receipts and check printing. The manual contains examples of all necessary forms which may be duplicated or may be purchased through the State Department of Education. The forms have been revised to allow utility for bookkeepers who use a ledger or computer software.