Based on a recommendation form the Great Neck School District’s internal auditor, the Board of Education is currently discussing a proposed new Policy On Student Activities Funds Management. The policy codifies the “oversight” (reported by the internal auditor) of extra-classroom activity funds to insure the safeguarding, accounting and audit of all moneys received.
The policy states that the school board is responsible for the protection and supervision of the financial affairs of student clubs and extracurricular activities. The superintendent of schools is to recommend a faculty advisor for each club or organization and the school board will then appoint the candidate. The school board will also appoint a treasurer for the management of the funds associated with these clubs and organizations. Additionally, each student club or organization will designate a student treasurer.
Prior to termination of a student club or organization, all funds remaining in the treasure must be disposed of in one of the following ways: expended by a majority vote of the student club or organization, all funds remaining in the treasury, as provided in its bylaws; and transferred to another student club or organization or for another purpose, as determined by the membership of the student club or organization.
If no action is taken, neither by the student club or organization, leftover funds of inactive or discontinued extra-classroom, activities and of graduating classes, will automatically revert to the account of the general student organization or student council.
The policy also states that financial transactions will be carried out to conform with school district policies and procedures. And the independent/external auditor will make an audit of all accounts annually.
Prior to approval of any new, revised or deleted policy, a minimum of three public readings is required. Since this was only a first reading, the policy must come back at least two more times in order for adoption to be considered.
This proposal will be read for a second time at the public action meeting on Monday, June 2, at Great Neck South High School. The United Parent-Teacher Council reports will be followed by the public action meeting at 8:30 p.m.