School Level Finance

Proper bookkeeping streamlines one of the managerial aspect of the school leader’s job. This allows the school leader additional time to concentrate efforts on students, faculty, staff and parents.

After reviewing the power point notes on bookkeeping respond to the following questions:

  • Explain why the bookkeeper should receipt money that is brought to office as soon as possible?
  • Explain the disadvantages of intermingling school funds that are generated from different activities; i.e, fund raisers, field trips, etc.?
  • Explain the some of the procedures the school leader should discuss with the bookkeeper at the beginning of every school year
  • I think the bookkeeper should receipt money that is brought to the office as soon as possible because that is best practice.  Money should be collected, accounted for, and deposited into the bank as quickly as possible so that there is less chance that it will be misplaced, forgotten, etc.  School offices are incredibly busy and there are a lot of people coming in and out all day.  It would make sense to not have money laying around or unsecured.  As the school leader, I would also want to ensure that our accounts are always up-to-date.
  • I would be worried about intermingling school funds because I would want to be able to prove where the money I was using came from.  Also, many times we advertise what the money we are collecting or raising is being used for.  I want to make sure I can show that I kept my word and used that money like I said I would.
  • I would form a very good relationship with my bookkeeper and be sure that we were able to trust each other.  I would want us to work as a team and both be in constant communication about money that was going and coming.  I would make sure I was educated on the processes in order to ensure that he/she was as well.  We would definitely discuss the protocols for each situation he/she may have to deal with and decide on what role we would each take.  It would be clearly defined expectations so that there is little room for error and neither one of us feels left in the dark.
Jul 2017

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