BP 11122023 129pm - Flipbook - Page 141
Preschool Financial Guidelines
Updated April 2021
Governance
The Pastor is responsible for the preschool. Parish management oversees
preschool operations.
Preschool operates in conjunction with parish administration and follows all
applicable parish policies and procedures.
The Preschool account is recorded on parish financial statements as a
department #006. Preschools do not keep separate books, bank accounts, or
financial statements.
Preschool uses Archdiocesan approved software to maintain receipt records
(sub-ledger). All software must be PCI compliant.
The finance council by-laws address preschool related responsibilities.
Programs conducted by a third party that operate on Archdiocesan property
must provide a certificate of insurance naming the parish and Archdiocese as
additional insured, and follow all Safe Environment guidelines. The program’s
offerings must be within the mission of the parish.
Only the pastor enters into contracts for the preschool.
The business manager approves/dates all journal entries monthly before parish
books are closed and financial statements published ensuring properly
documented journal entries.
Revenue Process
A designated preschool employee who is not responsible for recording receipts
serves as a cashier and is responsible for collecting receipts.
The preschool cashier provides a consecutively numbered receipt preprinted
with parish name for cash, check, money order, etc. received. The blank receipt
books are stored in a secured place.
Checks are endorsed with bank stamp upon receipt.
Preschool cashier and another person verify the receipts, place the money and
the receipt log in tamper resistant moneybag, and drop it in the parish safe daily
for processing by parish money counters.
The parish business manager collects the receipt book periodically, selects a
reasonable numbers of receipts and traces them to the deposit, and initials/dates
the receipt copy.
If an employee is not regularly available to serve as a cashier, a secured drop
box is made available for parents to place money. The money is removed by the
counters on Monday morning, counted, and deposited as part of the regular
process. The counter documents envelopes containing cash with the amount
received. The envelopes and copies of checks are provided to the preschool
bookkeeper so that the preschool sub-ledger can be properly updated. The
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