It is the policy of the Southwest Vermont Supervisory Union, Bennington School District, Inc., Mount Anthony Union School District, North Bennington Graded School District, Pownal School District, Shaftsbury School District, and Woodford School District that, in order to ensure the proper accounting for, and the expenditure of, student activity funds, it is imperative that appropriate accounting policies and procedures be adhered to.
The above school boards strongly endorse the accounting principle of internal controls. The concept of internal controls, which encompasses the segregation of receipt and disbursement activities, provides protection for all parties involved from the appearance of impropriety and discourages defalcation (e.g. theft, embezzlement).<
Any funds collected for school activities through fund-raising and/or donations will be deposited into an Activities Account, restricted for use by that activity.
No separate checking accounts will be allowed.
A financial manager or elementary principal shall be the administrator of all Activities Accounts and shall be responsible for the implementation of accounting procedures and policies to ensure that proper internal controls are in effect, including the method for distribution of interest.
Each graduation class at Mount Anthony Union High School will have until October 1st following graduation to withdraw activity money. It will require the signature of two officers to complete the withdrawal transaction. Any money that is not withdrawn by that date will be turned over to the Student Senate to be disbursed at their discretion.
Each grade K-6 will have until October 1st following the end of the previous school year to withdraw activity money. It will require the signature of the Advisor for the Activity Fund and the school Principal to complete the withdrawal transaction. Any money that is not withdrawn by that date will be turned over to the succeeding grade the following year to be disbursed at their discretion.