Finance Committee Goals 2018-2019
As the Finance Committee, we agree we are collectively responsible for the following:
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- Financing student experiential learning fees
- Tracking and safeguarding finances for ALAPTO
- Empowering committees with decision making parameters regarding financial decisions
- Competence and accountability for financial contributions
- Confidentiality around parent contributions
- Answering budget questions
- Provide guidance for other group’s budget
Our goals for the 2018-2019 school year.
*ELF – Develop a system for tracking family names when different than the student’s
- Collect 60% of the ELF fees for the 2018-2019 school year.
- Possible reduction of the fees
*CAMP- For the 2018-2019 school year, we will find out what our baseline percent is for collection of fees broken down into the three categories- 5th Grade Camp U, 7th Grade Trees, and 8th grade Camp U.
*Budget- Create a budget so that we are able to communicate with various committees/event chairs what those individual budgets are.
Finance Committee Roles At A Glance
Treasurer
- Submitting and filing taxes annually by May 15th
- Renewing 501 C3 status
- Raffle status
- Review the Google Docs uploads twice a month
- Apply deposits and withdrawals to the proper accounts in quickbooks
- Generate Monthly reports to the ALAPTO board
- Coordinate with Committees and chairs around events and budgets
- Send financials to extracurricular groups quarterly
- Align with Trina on an annual budget for ALAPTO
AP/AR
- Check Treasurer mailbox weekly
- Pay bills (bus companies, DJ, etc.) (scan into google drive when paid online, otherwise file paper copy in binder)
- Provide reimbursements
- Deposit field trip payments
- Deposit fundraiser checks
- Cash box requests
- Camp U-Nah-Li-Ya, Trees for Tomorrow (check/cash collection and deposits)
- Individual checks for reimbursements, camp,
- Communicate with Treasurer weekly
- Meet with Treasurer once a month to review budget
ELF Director
- Develop communication strategy, cadence and methodology for coming school year
- Communications to Parents requesting ELF payment
- Tracking payments for ELF fees on individual students
- Tracking payments for Camp Fees paid via ALAPTO Square Account
- Send out tax letters for payment made
- Review and revise process documentation for role
ELF Onsite AP/AR
- Checks Treasurer mailbox weekly
- Deposit ELF checks at bank
- Individual checks are scanned into Google Drive
- Coordinate with ELF director to ensure payments are tracked
Finance Committee Roles, Responsibilities
Treasurer
- Submitting and filing taxes annually
- Renewing 501 C3 status by July
- Raffle status
- Review the Google Docs uploads twice a month
- Apply deposits and withdrawals to the proper accounts in quickbooks
- Generate Monthly reports to the ALAPTO board
- Coordinate with Committees and chairs around events and budgets
- Send financials to extracurricular groups quarterly
- Align with Trina on an annual budget for ALAPTO
AP/AR
- Check ALAPTO Treasurer mailbox weekly throughout school year
- Pay bills (bus companies, DJ, etc.)
- Write out check and scan into Google Drive
- Provide checks to staff/teachers when needed for field trips/activities
- Teachers will fill out the Google form and submit it if they need payment for a field trip/activity
- Teachers must submit the form 10 days before the check is needed
- AR/AP will put the check in the teacher’s mailbox, and it is the teachers responsibility to mail the check to the vendor.
In the event that payment for a field trip is due “on the spot” then:
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- AR/AP writes out a blank check
- The teacher fills out the amount to the vendor when they arrive
- The teacher then takes a picture of the check and sends that picture to AR/AP, so the treasurer knows how much was paid and for what.
- AR/AP then uploads it into Google Drives for the treasurer to log into QuickBooks.
- Provide reimbursements in the form of checks to teachers, staff, volunteers, etc.
- Expense report completed with appropriate documentation
- AR/AP will review and write a check
- AR/AP will scan completed reimbursement form into google drive
- Deposit field trip payments*
- Deposit fundraiser checks
- Scan check into google drive
- Scan deposit slip into google drive
- Cash box requests
- Teachers will fill out the Google form and submit it if they need a cash box for their event
- Teachers must submit the form 10 days before the cash box is needed
- AR/AP will prepare the cash box for the event
- Staff member/teacher is responsible for counting money, organizing, recording on cash box accounting form
- Camp U-Nah-Li-Ya, Trees for Tomorrow (check/cash collection and deposits)
- AR/AP will deposit checks at bank
- AR/AP will scan deposit slip into google drive
- Extracurricular groups (Sting Cancer, School Store, Musical, etc.)
- Count their own money
- Complete an ALAPTO accounting form when ready for a deposit
- These groups track their own money in a spreadsheet shared by ALAPTO
- AR/AP will deposit money at bank
- AR/AP will write on the deposit slip what group it is for
- AR/AP will scan deposit slip into google drive
- AR/AP will file deposit slip in file folder in safe room at Aldo
- Grants must be deposited by those who are responsible for the grant (teachers/staff)
- Communicate with Treasurer via weekly email
- If others use the debit card, they send the charge amount, store and for what to the AR/AP
- AR/AP will include in weekly email to treasurer
* Fox Communities Credit Union is the bank we use.
ELF Director
- Develop communication strategy, cadence, and methodology for coming school year
- Communicating to Parents regarding ELF fees
- Responsible for sending out letters/emails requesting payment of the ELF
- Big ask at the start of the year presented in the form of a “bill”
- Monthly emails stating the balance each person has and requesting payment (These are balance statements sent out from Square)
- Send out a mid-year letter in January to “nudge” parents to pay if collection for the year is low
- Tracking payments made for student’s ELF
- Tracking payments made for Camp Fees paid via ALAPTO Square Account
- For any payments that have been made, Dan to send out tax letters to payments
- Track payments for individual students
- Create/Review and revise process documentation for role
- Square
ELF Onsite AP/AR
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- Checks ALAPTO Treasurer mailbox weekly
- Individual checks are scanned into Google Drive, and placed in a student file?
- Deposit ELF checks at bank
- Write ELF on the deposit slip, scan to Google Drive
- When ELF and Camp Fees are combined on one check, write the amount for each on the deposit slip, so Treasurer knows the correct amount for each category.
- Coordinate with ELF director to ensure payments are tracked
ELF Director
- Develop communication strategy, cadence, and methodology for coming school year
- Responsible for sending out letters/emails requesting payment of the ELF
- Big ask at the start of the year presented in the form of a “bill”
- Monthly emails stating the balance each person has and requesting payment (These are balance statements sent out from Square)
- Send out a mid-year letter in January to “nudge” parents to pay if collection for the year is low
- Tracking payments made for student’s ELF
- Tracking payments made for Camp Fees paid via ALAPTO Square Account
- For any payments that have been made, Dan to send out tax letters to payments
- Track payments for individual students
- Create/Review and revise process documentation for role
** Ask parents and teachers to separate checks for Camp, ELF, etc.
* If they are not separated, send to ELF, and they will update both spreadsheets.
Committee Chair
- Each committee chair is responsible for communicating between the board and the committee.
- Recruiting new members to the committee on an as needed basis (note: not all committee members need to be board members or even permanent committee members)
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