Policy Statement:

Lakeway Christian Schools (LCS) is committed to providing a clear and accountable framework for the management of student project funds. This policy is designed to ensure transparency, integrity, and proper stewardship of funds raised or allocated for student projects, events, or activities.

Objective:

To ensure responsible and transparent management and use of the student project funds while adhering to fund restrictions and LCS’s policies.

Policy Details:

• Funds Allocation:
  • Adhere to donor restrictions and utilize Fund 22 for student activities.
  • Ensure a clear application and approval process for funds allocation.
• Utilization of Funds:
  • Ensure funds are used per LCS’s standards and any specified guidelines.
  • Maintain alignment with project objectives for all expenditures.
• Management and Oversight:
  • Assign designated managers for Fund 22 and other student project funds.
  • Establish mechanisms to monitor and manage the funds judiciously.
• Spending Limitations:
  • Strictly prohibit deficit spending from Fund 22.
  • Implement checks for fund balances and expenditure approvals.
• Reporting and Accountability:
  • Ensure transparent and periodic reporting of fund incomes, expenditures, and available balances.
  • Share financial reports with pertinent stakeholders.
• Compliance and Auditing:
  • Validate adherence to fund usage guidelines through periodic audits.
  • Address discrepancies and policy violations promptly and effectively.
• Documentation and Record Keeping:
  • Maintain meticulous records of all transactions related to the funds.
  • Ensure secure storage, access, and disposal protocols for financial records.
• Review and Amendments:
  • Periodically review and amend the policy to maintain its relevance and efficacy.
• Implementation and Training:
  • Clearly delineate the implementation process and stakeholder responsibilities.
  • Equip relevant personnel and students with the necessary training and resources for policy adherence.