Student Activities Fund Management
I. Student Class Account and Activities Fund Management
The Board authorizes the establishment of Student
Activity Funds. Such funds shall be organized and managed
consistent with the provisions of this policy.
Student activity funds may be raised and spent to
promote the general welfare, education of the student body and/or the
extracurricular activities of student clubs, groups and organizations.
The Principal of the school shall be responsible
for the proper administration of the financial activities of the
Student activities fund in accordance with state law and appropriate
accounting practices and procedures. The Principal is charged
with establishing administrative regulations to carry out the
provisions of this policy.
Student activity accounts are subject to auditing at any time by the Business Administrator or his/her designate.
II. Disposition of Inactive Accounts
Graduating class accounts cease to exist at graduation because
graduated students are no longer part of the Lyme school student body
and, therefore, cannot have an account in the student activity
fund. A graduating eighth grade class may vote after the annual
8th grade class trip to designate the balance of its treasury to be
retained as scholarship funds to be awarded to future 8th grade
students in need of financial assistance for the cost of the annual 8th
grade class trip, or to designate the balance of its treasury as a gift
to the school.
If such funds are not designated, and for all other inactive student
accounts, the faculty advisor may be asked what is to be done with the
balance of the account. If nothing is to be done, the principal
shall decide what to do with the balance, such as disbursing the funds
to a different designated class account or evenly among the remaining
student class or activity accounts.
First Read: 5/24/12
Second Read: 6/19/12