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Revolving Accounts

Policy JJD

Adopted: February 12, 2015
Amended: N/A

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REVOLVING ACCOUNTS

The revenue collected from all fees and other revenues will be placed into revolving accounts established in accordance with Massachusetts State Law. These revolving accounts will be used to pay expenses directly related to the services for which the fee was collected. The specific allocation of funds from revolving accounts will be established by the School Committee as part of its annual budget process. Revolving Accounts shall be under the direct control of the School Committee, which delegates the power to the Superintendent or his/her designee to authorize expenditures from them without further appropriation by the Town. Federal and state grants, gifts and donations to the School Committee shall be processed as specified by statute and donor requirements.

Collection of Fees – Establishment of the collection procedures for any fees will be established and communicated by the Superintendent.

Student Fees – The School Committee may from time to time establish user fees to be charged to students for certain activities or equipment. The fees will be collected as a source of revenue to the school department to offset expenses of the annual operating budget directly related to that activity. The School Committee will, as part of its annual budget process, establish the nature and amount of any fees.

Other Revenues – The School Committee may from time to time authorize the acceptance of financial gifts and other revenues including school lunch receipts, gate receipts, rental fees, etc.

GUIDELINES FOR REVENUES FROM REVOLVING ACCOUNTS

All monies collected by the schools from fees, fines, admissions, and other non-tax sources shall be submitted to the School Business Office, deposited with the Town Treasurer, and credited to the following accounts:

SOURCES ACCOUNTS EXPENDITURE PURPOSE ACCOUNT SPENDING
Athletic fees & gate receipts Athletic Revolving Account To offset the cost of athletic team activities including but not limited to: facilities, grounds, equipment, and participation fees The balance in the account at the end of  the year would not exceed the amount collected in that fiscal year.  The School Committee will approve the amount to be used to offset the operating budget
Drama gate receipts Drama Revolving Account To offset the cost of delivering drama programs. Funds to be spent in the fiscal year of collection to the extent possible.  There is no strategy to retain a balance in this account.
Facility rental fees Building Use Revolving Account To offset the cost of building maintenance associated with the use of school facilities by outside groups including but not limited to: normal and extraordinary building maintenance, overtime pay for custodial staff. The balance in the account at the end of the year would not exceed the amount collected in that fiscal year.  The School Committee will approve the amount to the used to offset the operating budget.
Gifts & grants Individual School Gift or Grant Accounts Gifts to be expended at the discretion of the school principal, taking into account the wishes of the donor.  Grants to be expended as per the grant application. Gift funds to be spent as needed.  Grant funds to be spent per the grant guidelines.
International student tuition International Student Tuition Revolving Account To offset costs at the High School for providing education to international students and to offset the costs related to world language programs in the HPS. The balance in the account at the end of the school year would not exceed the amount collected in that fiscal year.  The School Committee will approve the amount to be used to offset the operating budget.
Laptop lease receipts 1:1 Laptop Revolving Account  To pay for lease costs associated with the 1:1 laptop program. Funds to be spent in accordance with lease payment schedules.  There is no strategy to retain a balance in this account.
Lost book fees Individual School Lost Book Fund Accounts To acquire replacement books. Funds to be spent as needed.
Parking fees Parking Fee Revolving Account To offset costs related to students parking on school grounds including but not limited to: maintenance and repair of student parking lots, snow removal, and lighting. The balance in the account at the end of the year would not exceed the amount collected in that fiscal year.  The School Committee will approve the amount to be used to offset the operating budget.
Preschool Tuition Preschool Tuition Revolving Account To offset costs related to delivering the Integrated Preschool program including but not limited to: salaries, facility maintenance, and educational materials. The balance in the account at the end of the year would not exceed the amount collected in that fiscal year.  The School Committee will approve the amount to be used to offset the operating budget
School lunch receipts School Lunch Revolving Account To offset costs of operating school lunch program. The DESE's recommendation is a minimum of three (3) months' operating costs.
Special Ed Circuit Breaker receipts Circuit Breaker Revolving Account To offset costs related to special education programming. Funds to be spent no later than the end of the subsequent fiscal year as per DESE guidelines.  Balance to be retained year over year for unforeseen expenses related to special education.  The School Committee will approve the amount to be used to offset the operating budget.
Transportation fees Bus Fee Revolving Account To offset the cost of providing bus transportation. The balance in the account at the end of the year would not exceed the amount collected in that fiscal year.  The School Committee will approve the amount to be used to offset the operating budget.

 

Legal References:

MGL 40:3; 44:53A; 44:53E½; 71:26C; 71:37A; 71:47; 71:71; 71:71F; Ch. 548 of the Acts of 1948.

Adapted References:

MASC Model Policies

Cross References:

Financial Assistance Policies JLB, JLB-R1, JLB-R2

School Committee Policies

A - Foundations and Basic Commitments

B - School Board Governance and Operations

C - General School Administration

D - Fiscal Management

E - Support Services

F - Facilities Development

G - Personnel

H - Negotiations

There are no policies under this code at this time.

I - Instructional Program

J - Students

K - School-Community Relations

L - Education Agency Relations

There are no policies under this code at this time.