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

Video Transcription

Video Summary

This training explains ASB accounting basics, including the fund code structure and the ASB fund balance report. ASB is fund 4, a state-designated, self-balancing fund used for student-generated money that must support extracurricular student activities under school board oversight. The ASB account structure uses four-digit activity codes: 1000 for general student body, 2000 for athletics, 3000 for graduating classes, 4000 for clubs, and 6000 for private money. Location codes identify which school the money belongs to.  <br /><br />The fund balance report shows beginning balance, revenues, interactivity transfers, expenditures, and ending balance. Revenues include fundraising, tickets, ASB cards, yearbooks, stores, and interest. Expenditures must be non-curricular and student-approved (CARS: cultural, athletic, recreational, social). Transfers move money between ASB activities and require approval, but should not be used to correct errors. Ending balances should be monitored regularly and reported annually.

Keywords

ASB accounting

fund code structure

ASB fund balance report

activity codes

student-generated money

interactivity transfers