Student Activity Account
Adopted: Originally February 4, 1999; June 23, 2011
Amended: October 4, 2018
The Hopkinton School Committee authorizes Principals to receive monies in connection with the conduct of certain student activities according to the provisions of M.G.L. 71§47.
The School Committee authorizes that monies collected in connection with these activities be deposited with the Town Treasurer into interest bearing accounts, hereinafter referred to as the Student Activity Agency Accounts, for the express purpose of conducting student activities.
The School Committee authorizes each Principal to establish and maintain a checking account. Each Principal maintaining a checking account must give bond to the Town to secure faithful performance of duties in connection with such account. The district’s Director of Finance and the Town Treasurer must approve the account. The School Committee will vote as necessary to set the maximum balance that may be on deposit in each school’s Student Activity Checking Account.
Any collected or earned monies belong to the students. Said monies must be deposited to the agency account held by the Town Treasurer and not to the checking account. The initial balance and subsequent replenishment of said balance of the checking account (not to exceed the maximum balance voted by School Committee) must be made through the transfer of funds from the agency account via the town’s warrant process. Funds disbursed from the Student Activity Checking Account must be expended exclusively for approved student activity purposes.
The School Committee must authorize student activities that are subject to this policy. The School Committee authorizes the following uses of said interest without further approval of the School Committee:
- To defray the cost of an outside audit;
- To purchase forms and supplies related to maintaining the student activity agency and checking accounts;
- To cover the cost of a student(s) attending a school activity where students are charged and a determination is made by the Principal that the student(s) is unduly burdened by the expense of the activity; and
- To cover refreshments for student activities.
Graduating seniors must vote within ninety (90) days of graduation about the expenditure of any balance in their class account. The class may choose by majority vote to apportion the remaining funds in any of the following ways:
- Gift to the school or district,
- Bank account for the class reunion, in which case the account must be opened as “Class of … Reunion Account,”
- Refund of a share in equal amount to all graduating students, or
- Donation to the scholarship fund.
The Principal(s) shall adhere to such administrative procedures as shall be established by the School Director of Finance and Town Treasurer. The Principal(s) will reconcile their bank statements with their checkbook on monthly basis, and submit a copy to the Director of Finance. In addition, the Principal(s) will maintain subsidiary ledgers for all funds and provide a quarterly report of these accounts to the Director of Finance. The Principals shall report as separate line items the interest earned on each municipal agency account and each student activity checking account.
There shall be an annual audit of the student activity funds that shall be conducted in accordance with procedures as agreed upon by the School Committee and the auditor. Said audit shall be based upon guidelines issued by the Department of Education.
Inactive Student Activities
When a student activity ceases to be active for a period of three years or more, the Principal or other authorized administrator shall require the following actions:
- Obtain written notice from the faculty advisor or student officer that the activity will cease to be a viable account. If unable to obtain such notification the Principal shall request action to close the account from the School Committee.
- Identify in writing all assets of the student activity. The disposition of any assets shall be determined by the School Committee and may not benefit specific individuals.
- Annually notify all students of the required actions if an activity ceases to exist.
M.G.L. 71 §47, (as amended by Chapter 66, the Acts of 1996)
JLB Financial Assistance
KCD Gifts to the Schools and School District
- 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
- I - Instructional Program
- J - Students
- K - School-Community Relations
- L - Education Agency Relations