SAF Deposits and Interfund Transfers July 19, 2012 Financial Services Accounting Department 1 Accounting Department
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SAF Deposits and Interfund Transfers
July 19, 2012
Financial Services Accounting Department
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Accounting Department
SAF Highlights
Role of Principal, Secretary/Bookkeeper &Role of Principal, Secretary/Bookkeeper & Sponsor Sponsor Cash Reconciliation ReportSponsor Cash Reconciliation ReportPreparing Cash Remittance/Deposit SlipDeposit BagDeposit BagCommonly Found Issues and ExamplesI t f d T fInterfund TransferAvailable Resources
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Deposit of Funds for SAF Club AccountsRoles:Roles:Principal and/or their designee – responsible for ensuring that all cash on hand is safeguarded from l th ft i l tloss, theft, or misplacement.Secretary/Bookkeeper ‐ responsible for ensuring that all cash on hand is safeguarded from loss theftthat all cash on hand is safeguarded from loss, theft, or misplacement, verifying sponsor deposits, preparing deposits, and maintaining Cash Receipts Log for all receipts on a daily basisLog for all receipts on a daily basis. Sponsor – responsible for counting and collecting monies for club accounts, submitting monies andmonies for club accounts, submitting monies and Cash Reconciliation Report to secretary/bookkeeper and reviewing Sponsor Reports on monthly basis to monitor club account activitymonitor club account activity.
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Sponsor Cash Reconciliation Report
The sponsor must count, total, and enter all cash and checks (in the original form received) onto the Sponsor’s Cash Reconciliation Report prior to submission to the secretary or bookkeeper.1 Sort coins and currency by denomination and total each with a1. Sort coins and currency by denomination and total each with a
calculator.2. List each check on Cash Reconciliation Form and enter into calculator to
obtain Total Checks.3. Add coins, currency, and checks to obtain the Total Remitted.4. Ensure all information on Sponsor’s Cash Reconciliation report is p p
complete and accurate (date, fundraiser info, campus name & no., club name & acct #, source of funds, etc.).
5 Sign and date the Sponsor’s Cash Reconciliation report ; submit to5. Sign and date the Sponsor s Cash Reconciliation report ; submit to secretary/bookkeeper.
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Sponsor’s Cash Reconciliation Report
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Verification of Sponsor’s Cash Reconciliation ReportThe secretary or bookkeeper must verify each amount on the Sponsor’s Cash Reconciliation Report by counting the money and running a tape on a calculator while sponsor is present. If the verification count by the secretary/bookkeeper indicates a variance y y/ pfrom the Sponsor’s Cash Reconciliation Report, the secretary/bookkeeper must inform the sponsor at that time. If a recount confirms the variance, the sponsor must make the correction to the Sponsor’s Cash Reconciliation Report and initial changes. p p g
1. Sort coins and currency by denomination and total each with a calculator.2. Enter coins in descending order into calculator to obtain Total Coins.3. Enter currency in descending order into calculator to obtain Total Currency.y g y4. Enter checks into calculator to obtain Total Checks.5. Add coins, currency, and checks to obtain Total Remitted.6. Verify calculator tape to Sponsor’s Cash Reconciliation Report to ensure both
match.7. Ensure all information on Sponsor’s Cash Reconciliation report is complete and
accurate.8. Sign and date the Sponsor’s Cash Reconciliation report.
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Preparing Cash Remittance/Deposit SlipPreparing Cash Remittance/Deposit Slip
The secretary or bookkeeper must prepare the Cash Remittance/Deposit Slip. / p p
Complete the Cash Remittance/Deposit SlipComplete the Cash Remittance/Deposit Slip by including the following:
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Preparing Cash Remittance/Deposit Slip – cont.
DateCampus Name & Numberl b l b
Bag #Total of all Currency
Club Account, Club Name, & Amount (only 3 club accts allowed on Cash Remittance/Deposit slip)
Total of all CoinsTotal of all ChecksTotal (Deposit)Remittance/Deposit slip)
Total Distribution (must match Total Deposit)Source of Funds (Description)Sponsor’s signature to verify information is
t ( d t )correct (mandatory)Received by –Secretary/Bookkeeper’s signature (mandatorysignature (mandatory
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Completed Deposit SlipCompleted Deposit Slip
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Preparing Cash Remittance/Deposit Slip – cont.
Endorse all checks using the bank endorsement stamp.Write the club acct no. in the memo section of the check.Make copies of all checks and Sponsor’s Cash ReconciliationMake copies of all checks and Sponsor s Cash Reconciliation Report.Place white copy of deposit slip, calculator tape, cash, checks, and coins in tamper proof bag. (Loose coins must be placed in an envelope marked with coin amount). Keep bag receipt stub for your record.Give sponsor the green copy of the deposit slip along with his/her Sponsor’s Cash Reconciliation Report Keep the yellow copySponsor’s Cash Reconciliation Report. Keep the yellow copy.Prepare deposit bag as illustrated on next slide.Place bag in secured place with limited access (vault, locked closet etc )closet, etc.,).Record deposit into the Cash Receipt Log in the Outlook Public Folder.Attach and file the yellow copy of the deposit slip copy of theAttach and file the yellow copy of the deposit slip, copy of the Sponsor’s Cash Reconciliation Report, and bag receipt stub.
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Deposit Bag
Make sure deposit bag is filled out completely:
School Name & numberBank of AmericaTotal Amount in the bagTotal Amount in the bagBank Account number (found at the bottom of your deposit slip)p)Your signatureDate the bag was preparedName of the SchoolAmount of any coins in the deposit bagPlace the Dunbar bar code f h l b k (
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from the log book (as seen, on the left side of bag)
Notes for Preparing Deposit Slipp g p pand Deposit Bag
If all the cash and checks will not fit into one bag, split the deposit into two separate bags and two p p p gseparate deposit slips. Record the additional bag # on the Sponsor’s Cash Reconciliation Form, and f ll th t f l ti d itfollow the steps for completing a deposit.If a deposit contains more than $25.00 in coins, create a separate deposit slip and deposit bag forcreate a separate deposit slip and deposit bag for the coins. (This deposit will be a coin‐only deposit).p )
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Example: Over Filled Deposit bag
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Notes for Cash Remittance/Deposit Slip Notes for Cash Remittance/Deposit Slip
Only three (3) club accounts are allowed per Cash Remittance/Deposit Slip.
If more than three (3) club accounts, sponsor and secretary/bookkeeper will p y/ pplace monies into one (1) account and complete an interfund transfer request p q(SAF‐4) to allocate monies to the other clubs.
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Example: More than three club accounts
There are five different club accounts listed. Consequently, There are five different club accounts listed. Consequently,accounts may be overlooked, and cause errors, such as the total distribution unequal to the total deposit amount. Use an interfund transfer request form (SAF 4) to distribute
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an interfund transfer request form (SAF‐4) to distribute amounts to the various clubs.
Revised SAFRevised SAF‐‐4 Interfund Transfer Request4 Interfund Transfer Request
Eff ti I di t lFinancial Services/Web Site/Student Activity
Effective Immediately Make sure form is filled out completely:
Campus numberCampus name DateFor each club account being used:
Object code for club accountSub Obj. codeCampus No/Org codeFY YR code (“3” for 2012‐2013)Amounts (Transfer from and Transfer to must equal)Club name for each transfer
Reason for transfer requestBoth the sponsor’s and principal’s signatures
Notes: There is now a box that will notify you if your transfer request balances. (BALANCED: Debit = Credit). Now the revised SAF‐4, interfund transfer form, will be used for transfers both within the same
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will be used for transfers both within the same campus and between campuses.
Commonly Found Issues
Illegible handwriting (please print).Amounts allocated to club accounts do not equal the total depositIncomplete deposit slipsp p pIncorrect/inaccurate account codesMore than three accounts on one deposit slip (as shown previously)shown previously)
When these issues arise, we must contact you and then wait for your written response before we are able to post your deposit. Consequently, there will be a delay in the recording of your deposit.
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Example: Illegible Handwriting
Make sure your handwriting is clear (please print). These forms are scanned by the bank and later printed by us which makes the deposit slip very difficult to read. Note amounts allocated to club accounts do not equal the total deposit.
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read. Note amounts allocated to club accounts do not equal the total deposit.
Example: Amounts Do Not Equal
This is an example of allocated amounts not adding up to the depositThis is an example of allocated amounts not adding up to the deposit total.In addition, there were multiple changes. If you make a mistake on the deposit slip, void it and start over with a new deposit slip. This
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p p p pprevents confusion for the bank and the accounting department.
Example: Incomplete Deposit Slip
This is an example of an incomplete deposit slip. The amount column is blank under the Club Account/Club Name section. Please be sure to fill out all sections.
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Example: Incorrect Account Codes
This is an example of a deposit slip with an incorrect account code (club account “2148” does not exist). Please be sure to verify that account codes are accurate prior to completing the deposit slip.
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Available Resources
Student Activity Funds Campus Accounting Proceduresh // d / / lhttp://www.saisd.net/Departments/Financial
Services/DocumentsORhttp://www saisd net/admin/finance/studentactivity/index shthttp://www.saisd.net/admin/finance/studentactivity/index.shtmAccounting Department (see following pages)SAF D t t L ti i H d & S d CSAF Department Leticia Hernandez & Sandra CruzDunbar Armored
https://www.dunbarvalutrak.com/cgi‐bin/login.aspxll d d li k h i f h d b k hi ill hScroll down and click on the picture of the red book. This will show you
a tutorial for filling out the book.Also, the armored car driver, who comes to your location, is available for questions.q
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Employee Name Position & Responsibilities Phone No.
Maria Aguilar Accounting Specialist 554‐8604Maria Aguilar Accounting SpecialistRecording GD Cash ReceiptsRecording GD Correcting EntriesRecording GD NSF Charges & FeesR hi A ti E t i
554 8604
Researching Accounting Entries
Theresa Canole Accounting SpecialistSAF Fund #865
Recording Cash Receipts
554‐8602
Recording Cash ReceiptsNSF Notifications & ChargesInterfund Transfer RequestsCoke CommissionsInterest Earnings
Receipt of Cash or Checks Delivered to Accounting
Transportation Fieldtrip ChargesTransportation Fieldtrip Charges
Karly Phillips Senior AccountantP‐Card Statements, Settle up &
554‐8606
ReconciliationAnalysis of Accounting Transactions
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Employee Name
Position & Responsibilities Phone No.
Eva Zepeda General Accounting ManagerLiaison for Annual Audit
554‐8605
In Charge of CAFR Preparation
Rena Valdez Accounting DirectorMonthly and Annual Close of Accounting
554‐8607Monthly and Annual Close of Accounting RecordsInvoicing to Outside Clients
Leticia Hernandez
SAF 554‐8632
SandraCruz
SAF 554‐8634
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