Financial Accounting

Every teacher, from time to time, will have in his or her possession funds which belong to the children or to the school. Teachers should not leave money in desk drawers or in any place where theft or loss may occur. These funds are the teacher’s responsibility. It is important that each student is receipted for money collected by the teacher.

A state law requires that principals keep a detailed record of all funds collected and spent in the schools. Teachers are required to turn all funds into the office for a receipt. In addition, all purchases to be made with the funds must be made according to established procedures through the office of the principal. All payments must be made by the school office according to established bookkeeping procedures.