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Completion of Bank Deposits for School Based Funds

  1. Collect cash/cheques and issue a receipt if applicable. Add up the total amount of receipts or other record of cash/cheques collected (ie: project envelopes).
  2. Determine which revenue accounts the collected money is to be coded to. For example 50110 100 806 indicates Registration Fees Revenue for school 100 for Grade 1-1.
  3. Add up all amounts that are to be coded to the same revenue account. List the total for each revenue account on the School Based Funds Deposit Reconciliation sheet. Total the School Based Funds Deposit Reconciliation Sheet.
  4. Add up cash/cheques and prepare deposit slip.
  5. The total on the deposit slip must equal the School Based Funds deposit Reconciliation Sheet.
    School Based Funds Deposit Reconciliation = Bank Deposit
  6. Funds can be deposited at any branch of the Royal Bank. Check here for a schedule of branch locations and hours of business. If you wish to utilize the night depository please contact Ann Schultz or Sandra Fowler so that you can be set up for this process.
  7. Fax a copy of the School Based Funds Deposit Reconciliation Sheet and a copy of the deposit slip as soon as possible to the Board Office Attention: Sandy Fowler (Fax: 668-7085)
  8. Keep a copy of the completed School Based Funds Deposit Reconciliation Sheet and a copy of the deposit slip on file at the school for future reference.

Example:
You have received $370.00 dollars in registration fees for various classrooms. Add the fees for each classroom together and record each lump sum on your School Based Funds Deposit Reconciliation Sheet. You have also received a cheque from the Parent Council for $50.00 (funds not assigned to any specific class or project).

501100 100 826 $140.00 One hundred forty dollars coded to Grade 5, Classroom 1
501100 100 806 $90.00 Ninety dollars coded to Grade 1, Classroom 1
501100 100 821 $140.00 One hundred dollars coded to Grade 4, Classroom 1
501402 100 000 $50.00 Fifty dollars to Parent Council

Please click for an example of a School Based Funds Deposit Reconciliation

Back to School Based Funds Manual Contents