Student Activity Accounts: Audit Information, Account Listings/Notes (10 minutes)

Transcript (~4 min @ 49:04)

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▶ 48:57 Speaker 1: Good evening and welcome to Finance and Facilities. Just two, um, two matters for us to review student activity accounts, um, and some recommendations from Mr. Kelly. Thank you for being with us and then for warrants to review. Thanks for having me. So, um, the, every year the school committee is asked to approve the balances for, and pardon my voice, I'm battling the same thing. Uh, attorney Linquist is, um, is school committee is asked to approve the minimum balances for student activities, accounts, student activities, accounts, um, a little bit different than a revolving account. These are agency funds for the district. Um, this is really student money, things collected for field trips. Uh, the travel we just discussed, um, uh, clubs. Uh, the high school has a robust number of clubs, um, that do, um, various fundraising activities and then do things with the funds. So, um, these are just balances to have on hand as, um, to use for the, the checking accounts at both schools. Um, so the memo is in your packet. I'd be happy to answer any questions you may have. Thank you so much, Mr. Kelly. Any questions from the committee? Yes, Mr. Sum?

▶ 50:04 Speaker 2: Uh, thank you, Mr. Kelly. I note that the, um, Melrose Middle School, uh, veterans Memorial Middle School, um, maximum there is $15,000. Um, just on our agenda tonight is a Quebec trip, uh, with upwards of 30 to 70 students, uh, listed. Sure. Um, won't we bump up against that maximum, uh, if you have all of the, uh, student collected fees on account at that one time? Sure.

▶ 50:34 Speaker 1: This is the checking account balance. So that would be something the, I think believe the middle schools in mass can have up to like 35,000 total in their, their student activities accounts. So this is just to have in the checking account to be able to pay for things like, and generally these trips are fee based, so there's fees collected, and then over time they pay different elements of the travel for flights, buses, hotels, things like that. So this is so that, that we can write checks to the different vendors that might be participating with that trip. So, uh, I'd be confident at that 15,000 for the checking account balance.

▶ 51:05 Speaker 2: Very good. Thank you.

▶ 51:10 Speaker 1: Any other questions, Mr. O'Connor?

▶ 51:11 Speaker 6: Just to comment, uh, Madam Chair, I, it's, um, and Mr. Kelly, you correct me if I'm wrong, I think it's mass generalized chapter 71. Section 47. Yes. Uh, for whatever that may be worth. Um, not having to do with, uh, athletic coaches salaries, but, uh, indeed student activity accounts. And if I miss this, I apologize. Are we, does this require an annual vote? Are we voting on this tonight? That's correct.

▶ 51:37 Speaker 2: We

▶ 51:37 Speaker 1: Are voting on it. That's Correct. Yes. So we actually, um, myself and three other members of the business office, um, well, two member, another member of the business office, and then, um, a member from the high school and, uh, middle school staff. We participated in a, um, a webinar about student activity accounts put on by Mark Abrams of the Abrams Group. Um, he's well known in mass municipal finance expert. Um, so, uh, we are looking to learn more about, um, student activity counts. And, and, um, I think after that we do, we're in a pretty good position with how we manage our student activities. Um, but, um, we are looking for, you know, as consistency, we're looking to improve what we do. So, um, that was a good webinar. It was last Wednesday morning and we got a lot Out of it, so Thank you. Always working on best practices, right? Trying. Yes. Thank you, Mr. Kelly. Um, do we have a motion on the floor to approve these, um, maximums for the checking accounts for middle school student activity checking account and the high school student activity checking account? Motion to approve. Thank you, Ms. McAndrew. Second. Okay. Made by Ms. McAndrew. Second by mr. So, um, all in favor, that carries six in favor and one absent. Thank you so much. And we have four warrants, um, to vote upon. I'm just gonna read them off first. Uh, so we have a fiscal year, 24 school expenses and tuitions, S 24 0 1 7 in the amount of 900, $912,361 and 91 cents. We have a fiscal year, 24 refunds and, um, sports officials, uh, warrant S 2 4 0 1 8 in the amount of $10,000 and $62. And, um, 2 cents. And then we have a October postage wire, uh, warrant, S 2 4 0 1 9 for $10,000 even. And lastly, we have a, a school instructional supplies warrant, S 2 4 0 2 0, and the amount of $28,052 and 45 cents to have a motion to approve these four warrants.