Fiscal Management
Budget
General
The budget for the Sutton School System shall be reviewed and approved prior to the beginning of the fiscal year by the Sutton School Committee. The approved budget represents the fiscal priorities established by the school committee in governance of the Sutton School System. The school committee’s fiscal priorities shall be in accordance with goals established under the committee's strategic plan.
The school committee shall maintain a budget subcommittee to oversee the process of budget formulation, appropriation, and expenditure under this section, and to advise the school committee accordingly.
The Sutton School System shall employ a 3-year budget cycle. The first year shall be known as the Planning Year. The second year shall be known as the Budget Year. The third year shall be known as the Fiscal Year. Each of these three years shall begin July 1 and end June 30.
The Planning Year (PY) is the year during which the initial budget is drawn up in draft form by the building principals in concert with the school councils. The drafts are then compiled by the administration in concert with the budget subcommittee. Final drafts shall be presented to the school committee prior to June 30
The Budget Year (BY) is the year following the PY. During the BY, the draft budget is finalized, public hearings are conducted, school committee approvals are obtained, and submissions to the town are accomplished. During the BY, the following actions shall be taken:
During the period from July to the end of November, the school administration shall work in concert with the budget subcommittee and the school councils to prepare a detailed submission from the draft budget created during the planning year. This budget submission should include program goals, and shall be presented to the school committee for approval at the first regular business meeting in December. The approved submission shall then be forwarded to the board of selectmen at least ten days prior to the end of the calendar year, or 90 days prior to the annual town meeting, which ever is later.
After receiving the total appropriation as voted at the annual town meeting, the administration shall develop in concert with the budget subcommittee and the school councils a revised budget, based on the submission developed under paragraph a. above, and within said total appropriation.
After the revised budget is developed in accordance with paragraph b. above but prior to the first regular School committee meeting in June of the BY, a public hearing shall be held in accordance with Chapter 71 Section 38N of the Massachusetts General Laws (M.G.L.).
At the first regular business meeting of the school committee in June of the BY, the revised budget shall be reviewed and approved by the committee. Approval shall require a majority vote of the full committee.
The Fiscal Year (FY) shall begin July 1st following the end of the BY and end the following June 30th. The FY shall be the year during which appropriations authorized under the budget developed during the previous BY are expended. During the FY the following actions shall be taken:
The superintendent of schools and the administrator for special education shall ensure that expenditures within their departments remain within the appropriations authorized by the school committee.
At least seven days prior to the school committee's first regular business meeting of each month, the superintendent of schools and the administrator for special education shall provide the committee with a financial statement, which provides the following information for each category, which received an appropriation under the approved budget:
The amount appropriated,
The amount expended,
The amount remaining, and
The amount expended during the same time period for the previous fiscal year.
At the end of the FY, the budget subcommittee shall develop a report including a three-year analysis of the Sutton School System budget and any trend analysis or other information as the subcommittee deems appropriate, to include the FY just ending, and the two previous FY’s. At a minimum, the analysis shall include for each category appropriated within the budgets:
The amount appropriated,
The amount expended,
The percentage expended over or under the previous year for the FY previous to the one just ended, and
The percentage expended over or under the previous two years for the FY just ended.
The information contained in the report of the budget subcommittee developed shall be utilized under paragraph two of this section for the following BY.
Changes
Building principals are authorized to make adjustments between program functions without prior approval provided said adjustments do not annually exceed five percent of the total annual allocation for any function involved in the adjustment. All other changes to the budget, after approval shall require a simple majority of the full school committee.
Adopted November 1996
CONSErvation of Energy
The Sutton School System shall aggressively pursue opportunities to reduce consumption and cost of heat and light at each work site.
Adopted November 1996
Student Activity Agency Accounts
According to The Commonwealth of Massachusetts Department of Revenue Laws Relating to Municipal Finance and Taxation Chapter 71 Section 47 the following are the guidelines for establishment and maintenance of school student activity funds:
"Notwithstanding the provisions of the preceding paragraph or section fifty-three of chapter forty-four, the school committee of a city, town, or district may authorize a school principal to receive money in connection with the conduct of certain student activities and to deposit such money, with the municipal or regional school district treasurer, into an interest bearing bank account, hereinafter referred to as the Student Activity Agency Account (SAAA), duly established by vote of the school committee to be used for the express purpose of conducting student activities. Interest earned by such SAAA shall be retained by the fund and the school committee shall determine for what purpose such earnings may be used. In addition to such SAAA, the school committee may authorize the municipal or regional school district treasurer to establish a checking account, hereinafter referred to as the Student Activity Checking Account (SACA), to be operated and controlled by a school principal and from which funds may be expended exclusively for student activity purposes for the student activities authorized by the school committee. Such account shall be used for expenditures only and funds received for student activities may not be deposited directly into such account.
“The school committee shall vote to set the maximum balance that may be on deposit in such SACA. The principal designated to operate and control such SACA shall give bond to the municipality or district in such amount as the treasurer shall determine to secure the principal’s faithful performance of his duties in connection with such account. To the extent that the funds are available in such SAAA, funds up to the maximum balance set by the school committee shall be transferred from the SAAA through the warrant process to initially fund such SACA.
“Periodically, to the extent that funds are available in such SAAA, the municipal or regional school district treasurer shall reimburse such SACA, through the warrant process, to restore the limit set by the school committee. The principal shall adhere to such administrative procedures as the municipal or regional school district treasurer or accountant may prescribe. There shall be annual audit of the student activity funds which shall be conducted in accordance with procedures as agreed upon between the school committee and the auditor based upon guidelines issued by the department of education".
GENERAL GUIDELINES
The Early Learning Center, Elementary, Middle and High School Student Activity Accounts that have been approved by the Sutton School Committee are identified on a subsidiary accounts list maintained by the District Business Office. All funds received and/or disbursed must be for student related activities and must conform to all Massachusetts Department of Revenue Laws.
Each principal may maintain a checking account. Each principal maintaining a checking account must give bond to the Town to secure faithful performance of duties in connection with such account. The maximum balance held in said checking accounts shall be:
Early Learning Center $15,000
Elementary School $15,000
Middle School $30,000
High School $30,000
Any monies collected or earned belong to the students. Student activity monies shall not be used for any purpose unrelated to student activities. Said monies shall be deposited to the account established for that school by the Town Treasurer.
ACCOUNTING, FORMS AND RECORD KEEPING
Each individual involved in student activity transactions should protect themselves from charges of wrongdoing by keeping detailed records with appropriate backup documentation. A clear audit trail should be established at all times. This will include the following:
The use of standardized forms (for deposits, disbursements, etc.) These forms should be used at all times, and are included in the Student Activity Accounts Operating Guidelines established by the District Business Office.
All disbursements will require an invoice or some type of receipt.
All deposits will require a school deposit form. The person making the deposit along with the advisor in charge of the account must sign the form.
Each school shall receive from the town treasurer a copy of each month’s deposit statement to aid in the monthly reconciliation.
Reconciliation of the bank statement (which includes all subsidiary accounts) should be conducted on a monthly basis with a copy of each to the school business administrator. Copies of the student account reconciliation shall also be sent to the advisor of each organization.
Each school must file an annual report with the school business administrator no later that July 15. Periodic reviews may be performed and interim reporting shall be provided at the request of the school business administrator. The accounts will be audited each year in accordance with guidelines issued by the Department of Education.
SUBSIDIARY ACCOUNTS
Each principal shall maintain subsidiary accounts within the student activity control account, in order to match receipts and expenditures to the appropriate recognized student activity organization. Subsidiary account should be balanced each month to the control account.
The number and description of subsidiary accounts shall be determined by the Superintendent’s Office. Each year the Superintendent shall provide the School Committee with a list of current subsidiary accounts.
RECEIPTS AND DEPOSITS
Since cash is collected by many individuals (often students), the area most susceptible to abuse is in the receipt’s process. Therefore, it is required that each school implement strict procedures for control of all receipts.
Any student organizations receiving monies from any source (fund-raisers, donations, etc.) should turn over such money to the principal or the principal’s designee within twenty-four hours for subsequent deposit to the student activity account.
If money is received on a weekend, it shall be turned in on the first business day following, to the principal’s office. No student shall take money home at any time; money received over the weekend shall be stored in a secured and locked vault, or safeguarded by other means.
Any money not deposited on the same day it was received shall be kept in a safe or other secure, locked area.
All money turned over to the office by a student organization (student officer/treasurer or advisor) shall be accompanied by a school deposit slip stating the source of the monies, the amount of money being deposited, and signed by the person turning over the money to the office. All monies turned in to the office by students must be co-signed by the class or fund-raising advisor. A deposit form must be submitted in duplicate – one for the principal’s office and one copy for the student/advisor.
The principal or principal’s designee will, in turn, deposit all monies received from student activity organizations into an account established for that school by the Town Treasurer.
WITHDRAWALS
All withdrawals from SAAA should be made by use of a withdrawal form. Forms must be filled out with all applicable information and signed by the account advisor. All withdrawal forms should be accompanied by an original invoice to be paid or receipts, which total the amount to be reimbursed. No withdrawal shall be made without supporting documentation. All withdrawals of more than $1,000. must be made one week prior to the date needed. All withdrawals for “cash” must be made 48 hours prior to the date needed.
Students, advisors, or others involved in a withdrawal shall not in any way benefit personally from the withdrawal.
The principal or principal’s designee shall keep a record of all deposits and expenditures.
FUND-RAISING
Fund-Raising projects should be held in accordance with school committee policy. Before implementation the principal must approve all fundraising activities.
All fund-raising results shall be reported to the principal within one week of the close of the fund-raising activity.
All fund-raising receipts shall be deposited in accordance with the preceding section on deposits.
Expenditures related to fund-raisers must be handled in accordance with the guidelines and policies for all other student activity account expenditures.
INACTIVE ACCOUNTS
Any student activity organization inactive for a period of two (2) years or more, and for which there have been no receipts or disbursements recorded on their behalf shall require the following actions to be closed:
Written notification by the advisor or student officer/treasurer to the principal or other authorized administrator that the particular activity will cease to be a viable account. If an advisor or student officer/treasurer is not available, such discontinuance shall be by vote of the school committee.
All assets of the recognized student activity organization shall be determined and stated in writing.
The school committee shall determine any disposition of assets of an inactive recognized student activity organization, but in no case shall the disposition benefit specific individuals. (The primary goal in disposition should be to benefit the student body).
CLASS ACCOUNTS AT GRADUATION
A “class account” established for the sixth grade class each year follows the designated class through graduation. Upon graduation any revenue left is transferred to the “General Fund” and kept for the class in the event of any class reunions. Upon receipt of request for monies to be used for said class reunion a check will be disbursed for the balance that was left in the class account will be given to the two people designated as in charge of said reunion. They, in turn, will set up their own accounts for said reunions.
INTEREST ACCOUNT
An interest account shall be included in the subsidiary accounts and all interest paid shall be tracked. Use of the interest accrued shall be used with school committee approval only.
Student Activities Agency Account
Subsidiary Accounts
Elementary School
Interest Account
Middle School
Sixth Grade Class
Seventh Grade Class
Eighth Grade Class
Middle School Yearbook
Middle School Chorus
Middle School Honor Society
Middle School Student Council
Ski Club
Destination Imagination
Middle School Student Activity
Interest Account
High School
Ninth Grade Class
Tenth Grade Class
Eleventh Grade Class
Twelfth Grade Class
Chorus
Band
Drama
Yearbook
National Honor Society
Student Council
Athletics
General Fund
Now Account
Student Store
Newspaper
Future Teachers
Peer Mediation
Cheerleader Account