Dollar Maximums for Student Activity Checking Accounts (5 minutes)

Transcript (~4 min @ 50:44)

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▶ 50:35 Speaker 1: and that motion to approve the consent agenda passes with six in favor and one absent thank you very much for that and that brings us to the work of our subcommittees beginning this evening with finance and facilities with Ms. McAndrew

▶ 51:05 Jennifer McAndrew: good evening everyone welcome to the finance and facilities subcommittee tonight we have one item on our agenda which does require a vote annually and this is regard to the allowable maximums on the accounts for student activities at the middle school and high school superintendent tamar do you want to speak to this at all as you know annually and under state

▶ 51:29 Speaker 4: regulations you must set the limits for the checking accounts for student activity funds And you have in front of you a updated report from Ms. Secor, our Director of Finance. And we are asking to set the high school at $100,000, the middle school at $15,000. And for your reference, she also gave you a historical accounting of those accounts as of November 1st this year. As you know, the money in these accounts flows in and out in response to student fees, activities, fundraising, and these accounts can only be used to pay for those activities in which students are directly engaged.

▶ 52:23 Jennifer McAndrew: For the purposes of discussion, is there a motion to approve the maximums at $100,000 for the high school and $15,000 for the middle school? Made by Mr. Driscoll, seconded by Mr. Selma. Are there any questions or discussion on the motion?

▶ 52:37 Speaker 5: Seeing none, all in favor? Oh, did you have a question, Mr. Ezzi-Thomas?

▶ 52:40 Speaker 3: Well, I just have a quick question about the whole process, but I don't know if it goes here or after we vote on this, not in the process of the vote, but the process of how the money goes from one account to another, to another, to another.

▶ 52:54 Jennifer McAndrew: Okay. Why don't you ask it now? Okay.

▶ 52:56 Speaker 3: there's a there's a memo about the record-keeping and documentation which I thought was really helpful and I just wanted to double-check that my understanding is there's the student activity agency account right so all the money goes in there and then it goes to the specific student activity account right so even though there's much more money than those maximums that come in It then goes to the specific account that it should be applied to.

▶ 53:29 Speaker 4: It's really one account with subsections with numbers. Just the way we're doing the BB money is all in the rental account with a sub number.

▶ 53:41 Jennifer McAndrew: And the sub numbers are used to track the individual activity or club or whatever.

▶ 53:50 Speaker 4: And there is a new requirement about balancing that student activity checking account on a more regular basis. So where we were doing it annually in the past, we're now doing it monthly.

▶ 54:03 Speaker 3: And who does the auditing, because there's an audit every three years, too, right?

▶ 54:07 Speaker 4: Carson Allen, what's her name?

▶ 54:12 Speaker 4: Clifton Larson Allen. Carson. Clifton. Larson. it last and allen okay thank you that's it thank you thank you any other questions

▶ 54:27 Jennifer McAndrew: seeing that all in favor and that motion carries unanimously with one absent thank you that concludes our fnf business for tonight see you next time thank you ms mcandrew that brings us