Financial Transaction Procedures

Procedures for handling financial transactions are listed below. Please see Ms. Higgins if you have any questions or concerns. (These procedures are subject to change in accordance with the auditing process)

FIELD TRIP, MEDIA CENTER, MUSIC, SCIENCE BOARD COLLECTIONS, STUDENT COUNCIL - Any money collected from students should receive prior approval from the office before sending information home to parents. Money turned in to the office must be timely, balanced and receipted as needed. You are responsible for any money you collect until it is deposited with the school treasurer. Money to be turned in to the office should be submitted to the proper person, if before 8:45AM place it in the money box on Mrs. Higgins door, if after 8:45AM you must give it to Mrs. Higgins in person or you can call the Mrs. Higgins office (Bogen phone ext. 042) to make arrangements with her. If Mrs. Higgins is not here that day turn the money into the front office so it can be secured in the vault till she returns to work. MONEY SHOULD NEVER BE LEFT UNATTENDED in your room, front office counter, or even just laying it on Mrs. Higgins desk without her presence.

At the discretion of the principal, teachers or teacher assistants who receive and/or collect funds in an amount less that $20.00 per payment may be authorized not to provide a duplicate receipt (unless requested by the student or the student's parent). We do not accept some checks like Bank of America, out of State checks, etc. If you have a question on checks please see Mrs. Higgins. Place the money in an envelope by purpose (i.e. field trip, recorders, science boards etc.) using the NCWISE sheet. The date, amount collected, and the form of payment should be recorded in the appropriate column beside the student's name.

All funds collected along with envelopes should be turned in each school day that funds are collected. The treasurer shall (1) verify the total amount collected, (2) note on the collection log (NCWISE sheet) that the school treasurer has verified the daily total turned in by the teacher/ specialist / teacher assistant, (3) when money is deposited the school treasurer will give you a receipt showing that she receipted the teacher / specialist for the amount collected.

SPECIAL NOTATION: All orders and purchases must have prior approval from the principal. Complete the necessary forms of request and give to the school treasurer.

PURCHASES - Please see the school treasurer to get a purchase order number that is needed before you place an order. If you do not get a purchase order number and you needed one, Speas Elementary School will not be responsible for the payment of the purchase and you will be responsible for all financial obligations to that company. DO NOT PLACE PERSONAL ORDERS IN THE SCHOOL’S NAME.

SALES TAX - When placing orders with vendors always include sales tax in your total cost and tell vendor to include sales tax. We are not tax exempt. (Although some invoices will not indicate a sales tax charge, especially out of state orders, sales tax is paid on a separate monthly report that the school treasurer does each month).

DELIVERIES - (Verification-ALL PACKING SLIPS ARE TURNED INTO THE SCHOOL TREASURER. DO NOT THROW THEM AWAY.) Once you receive the package open immediately. You will need to check and be sure all items were received and are in good condition. If there is a problem regarding your order or the condition, you will need to notify the company immediately. On the packing list you will need to sign your name, write the word "Received", and date it and return to the school treasurer ASAP. Packing slips will be the official auditing paperwork for receiving documents for payment of invoices.

CASH DISBURSEMENTS - All teachers and staff member who make purchases and seek reimbursements from school funds must present the appropriate invoices and/or sales receipts in order to vouch for such expenditures and receive payments. ALL INVOICES AND/OR SALES RECEIPTS MUST BE SIGNED BY THE INDIVIDUAL THAT RECEIVED SAID PURCHASES. No reimbursement will be made unless the proper signature is on said invoices and/or sales receipts. No reimbursement will be made unless Principal and/or Assistant Principal have approved the purchase in advance. If you want to be reimbursed from your Equity Plus, Group Incentive, or Skill Block accounts please follow those guidelines.