Page 2 - HCSD SOPandIC Manual

TABLE OF CONTENTS

PREFACE ...................................................................................................... 8
FINANCIAL MANAGEMENT/FISCAL CONTROLS ..................................................... 9

SECTION I – INTERNAL CONTROLS ................................................................... 10
Internal Control Document ............................................................................... 10
Evaluating Internal Controls .............................................................................. 14
Communicating Staff Members Roles ................................................................... 15

Cash/Check Controls ...................................................................................... 16
Payroll Controls ........................................................................................... 17
SECTION II – ACCOUNTING ............................................................................. 18

General Ledger ............................................................................................ 18
Monthly ................................................................................................. 18
Year –End Procedures.................................................................................. 18

Accounts Receivable ................................................................................... 19
Accounts Payable ...................................................................................... 19
School Bookkeepers .................................................................................... 19

Human Resources ...................................................................................... 20
Payroll .................................................................................................. 20
Accountant.............................................................................................. 20
Fixed Assets ............................................................................................ 21

Cash Management ...................................................................................... 21
Acceptance of Gifts ....................................................................................... 22
Inventory/Disposal of Obsolete Equipment/ Equipment Identification and Accountability ........... 23

Sales Tax Exemption Qualifications ..................................................................... 25
SECTION III – CASH MANAGEMENT .................................................................. 26
Petty Cash Drawer ........................................................................................ 26

Student Activity Funds ................................................................................... 27
Receipt of Funds ....................................................................................... 27
Disbursement of Funds ................................................................................. 28

Pay Procedures ............................................................................................ 29
Coding of Budget Accounts .............................................................................. 30
SECTION IV – BUDGET PROCESS ...................................................................... 33
Budget Development Process ............................................................................ 33

Budget Transfers .......................................................................................... 34
Grant Application Procedure ............................................................................. 35
SECTION V – POSITION CONTROL ..................................................................... 36

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Hinds County School District Standard Operating Procedures and Internal Controls Manual