School Uniform Accounting Policy Manual

The purpose of the Internal School Uniform Accounting Policy Manual is to provide accountability to concerned parties when dealing with school funds. All local school systems have adopted this Manual, and follow the listed requirements. The Internal School Accounting Act “provides boards of education and school principals with definite authority and responsibility for the administration and safekeeping of all internal school funds” (Internal School Uniform Accounting Policy Manual, 2011). Thus, making school principals accountable for all school funds, and held liable for the safekeeping, management, and accounting of all student activity (ISUAPM, 2011). This manual helps guide principals and aspiring administrators when handling school

To start, the local school board is responsible for an annual audit to be performed for all schools. Afterwards, they are to review the audit of internal school funds for any recommendations and taking appropriate actions to resolve such findings. The school board is also responsible for providing the school supplies and equipment required for quality instruction. The Manual also lists the responsibilities held by the Director of Schools. Such responsibilities include notifying the Comptroller of the Treasury, Division of Municipal Audit if he/she becomes aware of any evidence of fraud related to internal school funds. Additionally, it is the superintendent’s duty to approve fundraising activities that involve participation of the general student population, and make him/herself available to each principal as a resource to aid with the Manual and all other resources pertaining to school accounting. The school principal’s obligation is to comply with the regulations contained in the Manual and any other policy adopted by the local board of education. Further, all principals must provide safekeeping of all school funds and other property, and must deliver all financial records and supporting documentation as directed by the school board or superintendent. Last, the Tennessee Department of Education revises the Manual as needed and

Internal School Funds is defined as “any and all money received and accounted for at individual schools” and includes donations, funds for the cafeteria, fees collected throughout the year, rental fees for use of school facilities, and student activity funds (ISUAPM, 2011). The manual also defines student activity funds along with three additional funds: general fund, restricted fund, and school nutrition fund. Student activity funds include money received for any school-sponsored student activities, while the general fund is used to account for all money for the general operation of the school, including school-wide fundraisers. Meanwhile, the restricted fund accounts for all money used for specific groups or for a specific purpose, and the school nutrition fund accounts for all money financing cafeteria operations. The Manual then provides procedures when handling school funds and the importance of documentation and the safekeeping of such