Receipts & Cash Policy

RECEIPTS
Since the receipts process is the area most susceptible to abuse, the Burlington Public Schools have implemented strict procedures for the control of receipts:

1. Only Burlington Public School employees should collect funds for deposit. Volunteers and other non-school personnel may not collect or handle school funds.

2. All monies received by student organizations (from fund-raisers, donations, etc.) should be turned over to the School Principal’s designee by the end of the business day.

3. If money is received after hours or on a weekend, it shall be turned over on the next business day. No student or employee shall take money home at any time; money received over the weekend shall be secured in a locked vault on school property, or safeguarded by other approved means.

4. Departments/schools are not allowed to retain cash receipts for petty cash purposes; all receivables must be deposited in a timely manner.

5. Cash and checks may not be held longer than one week prior to deposit. Additionally, on any day that the cumulative cash balance exceeds $200, or whenever the total receipts (cash and checks) collected exceed $1,500 a turnover to the Business Office should be made.

6. Funds must be stored in a locked safe or vault, prior to being turned over.

7. Deposits should never be sent directly to the Treasurer’s Office; all school deposits must be sent to the School Business Office.

8. All funds turned over for deposit should be sent to the Business Office in the locked cash bag that has been provided to each school building. All deposits should be accompanied by a turnover sheet stating the source of the money, the amount being turned over, the account for deposit, and the individual turning the funds over.

CASH BOXES
9. Cash boxes for the purpose of making change forschool-sponsored-events are available upon request from the Business Office. At no time shall a cash box be used as a petty cash fund.

10. Cash boxes shall be signed out for each event and returned at the conclusion of the event in the same amount that was issued. A log book shall be kept which records which employee is using the cash box, the date signed out, and amount in the cash box, the log also shall record the date returned, the amount returned (which shall be equal to the amount signed out), and signatures of both parties again. The cash log will be retained in the Business Office.

First reading: 2/26/19
Second reading: 3/12/19
Adopted by Burlington Public Schools:3/12/19