KY Accounting Procedures for Kentucky School Activity Funds 2013-2025 free printable template
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? KENTUCKY DEPARTMENT OF EDUCATION Accounting Procedures for Kentucky School Activity Funds ? Red book? Incorporated by Reference 702 CAR 3:130 Effective July 1, 2013 ? ? ? March 2013 ? Table ?of
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How to fill out KY Accounting Procedures for Kentucky School Activity Funds
01
Gather all necessary financial documents related to the school activity funds.
02
Review the guidelines provided by the Kentucky Department of Education on accounting procedures.
03
Start with the general fund and segregate it from the special activity funds.
04
Record all income sources, including ticket sales, donations, and fundraisers in the accounting system.
05
Document all expenditures made from the activity funds, ensuring to keep receipts and invoices.
06
Use a standardized format to categorize each transaction, ensuring compliance with state regulations.
07
Reconcile bank statements monthly to ensure that the recorded amounts match bank balances.
08
Prepare periodic financial reports to summarize activity funds for school administration and the school board.
09
Ensure that any changes in personnel responsible for managing funds are documented and updated in your records.
Who needs KY Accounting Procedures for Kentucky School Activity Funds?
01
School administrators who manage and oversee school activities.
02
Teachers and staff involved in organizing school events and fundraisers.
03
School finance officers responsible for maintaining proper accounting practices.
04
Parent-Teacher Organizations (PTOs) and other fundraising groups within schools.
05
Auditors reviewing school funds as part of compliance and accountability measures.
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What is KY Accounting Procedures for Kentucky School Activity Funds?
KY Accounting Procedures for Kentucky School Activity Funds are guidelines established by the Kentucky Department of Education to ensure proper financial management and reporting of funds generated through school-related activities.
Who is required to file KY Accounting Procedures for Kentucky School Activity Funds?
All public schools and school districts in Kentucky that manage activity funds are required to adhere to and file the KY Accounting Procedures for Kentucky School Activity Funds.
How to fill out KY Accounting Procedures for Kentucky School Activity Funds?
To fill out the KY Accounting Procedures, schools must accurately record all transactions related to activity funds, ensure proper documentation is attached, and complete the required forms based on the established guidelines provided by the Kentucky Department of Education.
What is the purpose of KY Accounting Procedures for Kentucky School Activity Funds?
The purpose of the KY Accounting Procedures is to promote accountability, transparency, and consistency in the management of school activity funds, safeguarding these resources and ensuring they are used for intended educational and extracurricular purposes.
What information must be reported on KY Accounting Procedures for Kentucky School Activity Funds?
The information that must be reported includes detailed transactions of income and expenditures, account balances, sources of funds, and documentation supporting all financial activities related to school activity funds.
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