ERIC Number: ED315916
Record Type: Non-Journal
Publication Date: 1989
Reference Count: N/A
The Principal and Fiscal Management. Elementary Principal Series No. 6.
Walters, James K.; Marconnit, George D.
The sixth of six volumes in the "Elementary Principal Series," this booklet is designed to help principals develop sound fiscal management strategies at the building level. The first section reviews Indiana statutory provisions for handling extracurricular and booster group funds. The second section presents guidelines for managing school funds. With sound fiscal management procedures, mishandling or loss of school funds can be prevented; with a system of checks and balances, those with "sticky fingers" can be deterred. Expediency or personal convenience has no place in accounting procedures. Tips (and, in some cases, sample forms) are provided for managing everyday transactions, ticket sales, petty cash funds, cash change boxes, and money from fund-raising projects. The final section explains the importance of auditing, or opening up the school's financial records for review by outsiders. Audits protect principals from mismanagement charges and can help them set up a sound accounting system. New principals should insist on an audit of building funds for their own protection. Three methods of auditing school building accounts are available: periodic audits by the state accounting agency; internal audits by personnel from the central office or from another school; and external audits by an independent public accounting firm. Some general recordkeeping rules are provided. (Nine references) (MLH)
Descriptors: Accountability, Audits (Verification), Elementary Education, Fund Raising, Money Management, Principals, School Funds
Publication Sales, Phi Delta Kappa Educational Foundation, 8th and Union, Bloomington, IN 47402 ($2.00).
Publication Type: Reports - Evaluative; Guides - Non-Classroom
Education Level: N/A
Audience: Administrators; Practitioners
Authoring Institution: Phi Delta Kappa Educational Foundation, Bloomington, IN.
Identifiers - Location: Indiana