[Recommended]Week 3 Discussion – School Accounting Policy

Week 3 Discussion – School Accounting Policy You have just accepted the principalship of a large public school. You learn early on that the sixth…

Week 3 Discussion – School Accounting Policy
You have just accepted the principalship of a large public school. You learn early on that the sixth grade teachers sell popcorn every Friday to raise money for the sixth grade trip. When you ask who is responsible for depositing the money, you find out that one of the teachers has an account at her bank and she is taking care of the money. When you question this in regard to the district’s accounting policies, you are told that if this money is put through the general fund (as is specified by the district), the money will not be there when they get ready for their spring trip. What will be your response, in light of the fact that the “state offices of education and the local school districts have a fiduciary responsibility to make expenditures and keep financial records in accordance with legally-approved budgets” (text, p. 131).
 
Based on the chapter in the text, and the fact that you as the administrator are charged with protecting school funds (p. 145) and general principles that “may be applied to form the basis for an adequate and effective accounting system in every school” (p.133), respond to the following questions:
 
What would you tell the sixth grade teachers in this scenario?
 
Why is it necessary to have this conversation?
 
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