BP 11122023 129pm - Flipbook - Page 142
parents are provided with a cash/check remittance form, if necessary, as
documentation for the payment.
The preschool funds are deposited into the parish’s operating bank account. We
do not recommend that the preschool have a separate bank account.
Preschool should consider offering an electronic tuition option using the
parish’s online giving vendor or another vendor who is PCI compliant.
The preschool bookkeeper serves as the preschool record keeper and posts
receipts to Parishsoft (sub-ledger) or another software approved by the
Archdiocese. The sub-ledger includes amounts owed (expected revenue),
collected, and balanced due by family.
Preschool bookkeeper does not receive money and post receipts from actual
cash or checks since this would be a conflict of duties. If the preschool director
has sub-ledger editing access, she should not collect money, either.
The preschool bookkeeper uses receipt records generated by the preschool
cashier or the counters to post e.g., cash receipt book/log.
The preschool Director reviews the sub-ledger posting report and initial/date the
report, which is attached to cash log/online tuition receipts report in support of
remittance and filed/retained.
The parish business manager meets at least quarterly with the preschool book
keeper and reconciles expected revenue in writing, i.e., compares booked
deposits per G/L to Parishsoft sub-ledger ensuring all monies expected have
been collected/remitted or otherwise accounted for.
The pastor approves/dates reconciliations.
If an electronic payment system, like FACTS, is not used, a statement is
provided to all parents for each month that money is received.
The pastor approves in writing scholarships, teacher discounts, tuition
discounts.
If a child leaves the preschool prior to the end of the school year, the
withdrawal is documented (paper or electronic evidence is acceptable).
Documents are retained according to the Archdiocese Records Management
schedule.
Donations
All monetary donations are processed through the parish.
Volunteers should not collect money.
Donations are recorded on parish books and earmarked for preschool via
journal entry e.g., donation revenue credit and offsetting debit recorded at the
same amount with zero net effect on the books.
Donations are recorded in ParsihSoft Family Suite donation database.
The pastor acknowledges date and description of money/goods donated and
standard tax verbiage in tax letter on parish letterhead.
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