AP 511 - Cash in School Buildings
Principals are charged with the responsibility of ensuring that all school funds are handled with appropriate safekeeping and financial procedures. All money collected shall be receipted, recorded, accounted for and directed as soon as possible to the proper location for deposit. The following procedures are established for the safekeeping of money on school property and the deposit of such funds. AP-521—School Generated Funds is also applicable to cash in school buildings.
- The principal shall adhere to the SGF Manual (AP 521) for making bank deposits as frequently as possible, in order to avoid leaving money on school premises for long periods of time. The SGF Manual indicates a deposit is made at least weekly and when there is $500 or more in cash on the school premises.
- During school hours:
- Cash shall be kept in a cash register, lockable drawer or lockable cashbox and access must be restricted to individuals designated by the principal.
- Cash boxes shall be kept out of sight in a secure place when not in visual custody of the person responsible for the money.
- After normal school hours:
- Cash remaining in the school shall be locked in the vault or in as secure a location as possible within the school. Access to the vault or secure location will be provided by the principal only.
- Cash shall not be taken home by staff members nor carried on staff members’ persons for safekeeping.
- All money collected for school purposes shall be counted, recorded and turned over to the school office so that a formal record of all funds received can be prepared. In this way, any differences between the teachers’ and office’s totals can be resolved immediately.
- All money collected by schools, while in the school or in transit to the bank for deposit, is insured against theft subject to a deductible. This means the school would absorb the deductible of any loss of cash. Losses due to theft beyond the deductible shall be reimbursed upon application to the division and proper documentation of the circumstances of the theft. This normally requires a police report.
- All employees will keep personal money, purses and other property in a safe place during working hours.
- Under no circumstances will money be left in an employee’s desk or unattended.
- No refunds will be made for losses as a result of failing to adhere to this procedure.
School Act, Section 60
Updated: March 2017