OTHER REVENUES: |
CDI (R) |
| NON CASH DONATIONS | To set guidelines regarding the non-cash donations. Non-cash donations include any item, whether purchased or donated, that is given to a school or program of the District by a group or individual. Such items shall become property of the District. |
| GENERAL PROCEDURES | All bequests of property for the benefit of public schools shall, when not otherwise directed by the grantor, vest in the power of the Board. The principal or program supervisor shall submit to the Finance Department a written listing of each gift, its value, any specific use designation, and the name, address and taxpayer identification number of the donor within five business days of receipt of non-cash gift. Additionally, all non-cash donations in the form of stocks or securities shall be sent to the District Treasurer for valuation at fair market and safekeeping |
| SPECIFIC USE DESIGNATION | If the item is given with a specific use designation, the item shall be used only for the designated purpose or in the designated school program. It shall be the responsibility of the principal or program supervisor to clearly identify each item that has a specific use designation |
| DONATION OF USED COPIERS AND COMPUTERS | Donations of used copiers or computer by clubs or associations to the District will be evaluated by the Copier Service/Computer Service Center Departments as to their value and/or usefulness to the District. Only equipment of benefit to the District will be accepted. The Director of Copier Services/Computer Service Center Departments shall submit to the Finance Department a written listing of each donation accepted, its fair market value, and the name, address and taxpayer identification number of the donor within five business days of receipt of donated copier or computer |
| AGENDA ITEM | The Finance Department shall prepare an agenda item as necessary for the Board of Trustees to received donated items. |
| CRMS | All non-cash assets greater than $500 shall be tracked in the CRMS system and all assets greater than $5,000 should be capitalized in the General Fixed Assets System. |
| ISSUED DATE:01/12/05 | |
| OTHER REVENUES: GIFTS AND BEQUESTS |
CDI (R) |
| CASH DONATIONS | To set guidelines regarding the cash donations. |
| GENERAL USE DONATIONS | Cash donations of any amount for the general use of the District shall be sent to the District Cashier for deposit into the General Fund Revenue account within five working days of receipt of the gift. A completed cash receipt form must accompany all cash donations forwarded to the District Cashier for deposit. |
| SPECIFIC USE DESIGNATION DONATIONS | All cash donations for the benefit of the district in which donor has restricted the spending of the donated principal shall be sent to the District Cashier for deposit into a Permanent Trust Fund. A completed cash receipt form must accompany all cash donations forwarded to the District Cashier for deposit. |
| CASH DONATIONS GIVEN TO A CAMPUS | Cash donations given to a campus may be retained in the campus activity fund if there are no restrictions as to purpose or donated principal. A separate CAF account shall be established for accounting of all these donated funds. At the time of donation, a record must be kept. An audit of the activity fund will include a review of the use of these funds. |
| Cash donations given to a campus may be retained in the student activity fund if restricted to purpose and/or donated principal. A separate SAF account shall be established for each restricted donation. At the time of donation, a record must be kept. It is the responsibility of the campus principal to ensure these donations are spent according to specified purpose. An audit of the activity funds will include a review of the use of these funds. | |
| CASH DONATIONSTO A STUDENT ORGANIZATION | Cash donations given to a student organization may be retained in the student activity fund provided the donor places no restrictions on the donated principal. At the time of donation, a record must be kept. It is the responsibility of the student organization officers to ensure donations are spent according to specified purpose, if any. An audit of these activity funds will include a review of the use of these funds |
| AGENDA ITEM | All cash donations retained the campus or activity funds shall be deposited into the appropriate account using the event source of “Donations”. The Finance Department shall submit an agenda item of cash donations received to the Board of Trustees as part of the monthly meeting.Upon acceptance of the donation by the Board of Trustees, the finance department will issue an acknowledgement of receipt of donated funds to the donor. |
| CASH DONATION ACCOUNTING | All cash donations shall be recorded in the appropriate accounting system based on the purpose of the donation and, as such, will be included in the totals presented in the Comprehensive Annual Financial Report |
| ISSUED DATE: 01/12/05 | |
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