ASB Badge #13 - ASB Accounting and Financial Reporting-ASB Badge #13 PowerPoint

ASB Badge #13 PowerPoint

Pdf Summary

The document explains how Associated Student Body (ASB) accounting works in school districts, focusing on fund structure, account codes, and fund balance reporting. School accounting is organized by funds, and ASB is one of the state-designated funds used to track student activity money separately.<br /><br />ASB accounts use a four-digit code structure made up of fund codes, location codes, and activity classification codes. The ASB fund code is 4, and activities are grouped into state-required series: 1000 for general student body, 2000 for athletics, 3000 for classes, 4000 for clubs, and 6000 for private moneys. If a district has multiple ASB schools, location codes are added to identify each school.<br /><br />The ASB Fund Balance Report shows beginning balance, revenues, transfers, expenditures, and ending balance for each activity. Beginning balances carry forward from the prior year, and ending balances are calculated using revenues plus or minus transfers, minus expenditures.<br /><br />ASB revenues include fundraisers, ticket sales, ASB cards, yearbooks, student store sales, and interest earnings. All ASB-generated money must be deposited in the ASB fund, and interest earnings must remain in ASB rather than transfer to the General Fund.<br /><br />ASB expenditures must support CARS activities: cultural, athletic, recreational, and social. Spending requires student approval, and districts cannot disburse more than the available cash balance. Some districts may use an imprest account for quick payments, but it requires monthly reconciliation and replenishment.<br /><br />Interactivity transfers move money between student activity groups and require approval from both sides. They are not used to correct coding errors. Schools should monitor ending balances regularly to ensure clubs and activities remain positive and cover negative balances with approved transfers.<br /><br />The document ends by noting that users must pass a final assessment to earn the badge.

Keywords

ASB accounting

school district funds

fund balance report

account codes

student activity money

ASB revenues

ASB expenditures

interactivity transfers

imprest account

CARS activities