This booklet provides guidelines to help school business officials develop sound procedures for keeping proper accounts of and managing the money raised and spent in the course of conducting student activity programs. The booklet notes the roles of the administrators and activity advisers related to management of the student activity fund, then reviews the general management principles involved. Strategies for reducing accounting costs are listed briefly. Internal controls for accounting and administrative purposes are considered at some length, and auditing processes are proposed. The booklet concludes with answers to 26 common questions and with a glossary of applicable accounting and business management terms. (PGD)