Topic: Social Fund Checking Accounts
Reference or Contact: Treasury
Campus principals may maintain a checking account separate from district accounts ONLY for “social funds” (i.e. staff contributions for flowers, cards, t-shirts, coffee and other employee specific expenses). This checking account, if the principal chooses to have it, will house monies that are generated solely from donations from campus employees. No other types of monies can co-mingle in this account. Should such a checking account be used for these “social” funds, the account shall not use the federal identification number of the school district.
Funds from sources such as school fundraisers, vending machines, etc., are considered district-associated monies and must be deposited in district banking accounts that are authorized by the Board of Trustees and are subject to annual review by independent auditors.