Activity funds are funds generated and accumulated by the school that are held in trust by the school and are used to promote the general welfare of the school and educational development and morale of all students.
Little Elm ISD uses the following to define and code activity funds:
Fund 461–Campus Activity Funds account for:
- Funds raised locally at the school or donated to the school
- Any monies collected or raised in which students are not directly involved with the decision making processes of spending of funds
- Principal’s funds
- Library funds generated through book fairs & lost textbook fines
Fund 865-Student Activity Funds account for:
- Funds generated by specific student groups, not by district or campus. Students make decisions about expenditures.
- When submitting a purchase order or direct pay to use student activity funds, documentation of student approval (i.e. minutes of student meeting), will be required to be submitted to the campus bookkeeper/secretary. The minutes of the meeting should reflect the date of the meeting, a specific statement allowing the particular expenditure, names & signatures of the student officers who are authorized to make a decision with regard to the expenditure of the club (activity’s) funds.
- In reference to the “Vendor Notes” tab, please note the club/group information:
Example: 865-Student Activity Account Purchase – AVID
*All Activity fund custodians must ensure that all Activity Fund transactions and accounts are maintained in accordance with state and local law. These laws are defined in a separate Activity Fund Manual. Revenues should be sufficient to cover expenditures from the funds. Activity funds should not be overdrawn. Principals or Directors may be contacted and asked for a resolution plan for any overdrawn activity funds. The only exception to allowing an overdrawn activity fund would be if circumstances require a temporary overdraft such as payments made in advance to reserve facilities and services for a prom/dance/activity before ticket sales to participants are completed.