DMA Protection of Valuables in Schools
Adopted: November 10, 1975
The Board believes employees hold a position of trust with respect to all property (including cash) within the school.
1. Teachers/staff who receive or collect money on behalf of the district shall provide a list of who, purpose, and the total dollars collected. At the end of each day the employee shall submit the monies collected to the principal or designate.
2. Teachers or others who suffer losses for themselves or others by failure to observe these guidelines will be expected to bear those losses personally.
3. Teachers shall be responsible for safekeeping any property taken from a student as a result of a breach of school rules. If such goods are lost or stolen after being taken from the student, liability for such loss will rest with the teacher.
4. Each school will maintain one bank account in the name of the school to which all monies received (except Students’ Council money) shall be deposited. Signing authority to be vested in principal, vice principal, and /or secretary, Associate Superintendent of Business and Finance and Finance Supervisor.
5. All monies received at the school shall be receipted on a District No. 2833 receipt. This includes student fees but does not include monies collected directly by the Students’ Council.
6. Money collected will be deposited directly into the school account in a timely manner. Principals shall be responsible for safekeeping of any funds collected.
7. Money received at the school should be deposited within five operating days of receipt. Whenever large amounts of money are involved, schools should make deposits more frequently.
8. Accounting journals shall be kept for cash receipts and for cash payments.
9. One copy of all receipts shall be forwarded to the District office at the end of each month.\
10. All payments shall be made by cheque.
11. Within two weeks of receipt of a bank statement, a bank reconciliation shall be prepared and submitted to the Finance Department District Office.