LOUDOUN COUNTY PUBLIC SCHOOLS
BUSINESS AND FINANCIAL SERVICES
STUDENT ACTIVITY FUND CARD PROCEDURES
INTRODUCTION: A student activity fund card is a method of paying for purchases,
travel related expenses, and conference expenses costing less than five thousand dollars
($5,000.00). Cards are assigned to a school for purchases, travel related expenses
(airfare, hotel accommodations, food, parking, gasoline, etc.), and conference expenses.
Cards may be used with most vendors who accept the VISA credit card. Approved
transactions will be paid by LCPS, establishing an Accounts Receivable from each
school, with reimbursement from the individual school’s activity fund.
CONTACTS:
Purchase Card Technician – Barbara Washington (571) 252-1373
Purchase Card Technician – Anita Monroe (571) 252-1382 (Purchase/Travel)
Accounting Supervisor – Ellen Loss (571) 252-1369
Director of Financial Services – Thomas C. Yetter (571) 252-1190
ROLES:
a.
Director of Financial Services – Responsible for approving and issuing
new card requests.
b.
Purchase Card Technician – Responsible for reviewing new card requests
and for reviewing, problem-solving, and interfacing to FAMIS.
c.
Cardholder (bookkeeper) - Responsible for maintaining custody/control of
cards, review and approval of transactions, timely submission of the
monthly report to Accounting, and monthly submission of check payable
to County of Loudoun from student activity account.
d.
Approver/Account Manager (principal or designee) - Responsible for
approving transactions and ensuring the monthly report and original
receipts are submitted in adherence to established procedures.
CARD USE GUIDELINES:
1.
Cards are for business use only; no personal purchases shall be made with
the card. Misuse of the card may result in revocation of the card or other
disciplinary actions, to include termination of employment.
2.
Use of the cards for cash advances is prohibited.
3.
Card users should be prepared to present their Loudoun County Public
Schools’ employee ID at the time of purchase.
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4.
Cards shall be used in accordance with established purchasing regulations.
While there is no requirement to obtain competitive pricing, discretion is
encouraged. Existing bids and contracts must be used.
5.
Use the cards as you would a credit card; however, make the vendor aware
that LCPS is exempt from sales tax for goods purchased in Virginia or
delivered to Virginia by the vendor. LCPS’ tax exemption number is
printed on the front of each card. The bookkeeper and/or card user shall
be responsible for recovering sales tax paid on exempt purchases.
6.
Purchases are limited to a single transaction limit (STL) of $5,000.
7.
Cards may only be used to pay for purchases using school activity
accounts.
8.
In the event a vendor does not accept the card, please contact Barbara
Washington in the Accounting Division for further review.
9.
An itemized receipt must be obtained for EVERY purchase. Receipts
must include the vendor’s name, a description of each item purchased, the
cost per item, and the date of the purchase. The summary receipt with the
total purchase amount is not acceptable by itself.
10.
Bookkeepers are responsible for placing all internet and phone orders to
ensure security of the account number. When placing internet, fax, or
phone orders make sure to verify that no sales tax will be charged, and that
the vendor will provide an itemized invoice/receipt.
11.
Account numbers should never be faxed to a vendor. Account numbers
may be provided to the vendor via telephone.
12.
The use of third party payment processing is not acceptable and is strictly
prohibited (i.e. PayPal).
13.
Vendors may not charge the card prior to shipment.
14.
To return an item, contact the vendor and follow their procedures. A
credit invoice from the vendor must be submitted with the monthly memo
statement.
CARD USE PROCEDURES:
1.
All employees must read the “Student Activity Fund Card Procedures”
and sign the “Employee Agreement Form” prior to use of the card. The
employee agreements are to be kept on file by the bookkeeper and be
made available for inspection.
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2.
Cards are to be logged in and out, using the appropriate Card Log.
3.
The bookkeeper should use catalog discounts and contracts when
available. Periodic audits of purchases will be made to ensure purchases
are in compliance with School Board policy.
4.
Use of the card is restricted to the employee who has logged the card out.
5.
Under no circumstances should a card be loaned to another person while
logged out.
6.
The card and itemized original receipts must be returned to the
bookkeeper immediately after use.
7.
The card(s) shall be kept in a secure location.
8.
The account number is not to be displayed in a place open to public view.
MONTHLY REPORT:
1.
The accounting cycle for student activity fund cards is from the 27th of
one month to the 26th of the following month.
2.
The monthly report should be run no earlier than the 29th of each month.
Bank of America posts through the end of the day on the 28th of each
month.
3.
Bookkeepers should access “Works” weekly to verify that receipts for all
purchases are on file, all transactions are properly coded, and all
transactions have been electronically signed off. Once transactions are
signed off by the bookkeeper, they are electronically forwarded to the
Account Manager for approval.
4.
A default allocation code has been created for the Student Activity Fund
purchase cards and must not be changed.
5.
Once transactions are signed off by the bookkeeper, they are electronically
forwarded to the Account Manager for approval.
6.
The bookkeeper shall run a monthly report detailing the monthly
transactions for each card.
7.
After transactions are approved by the bookkeeper and principal/account
manager, the memo statement, with copies of the original detailed receipts
attached, must be approved and forwarded to the Division of Accounting
on the 1st of the month.
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REIMBURSEMENT OF FUNDS FROM STUDENT ACTIVITY FUNDS:
1. Statements will be sent to the cardholder by the 5th of each month.
Statements will show student activity fund card transactions posted to the
school’s accounts receivable account.
2. Print the My Payables Allocation report for the same time period. This
report will show the Account Codes placed in the Comments field during
the signing off of the transactions. The codes should be used for proper
coding of the check in School Books.
3. A check payable to “County of Loudoun” along with a copy of the statement
should be sent to the Financial Services office by the 10th of the month.
4. Cardholders who do not reimburse funds by the established deadline may
lose card privileges.
DISPUTES:
If a charge appears on the card which cannot be verified, a dispute situation may exist. If
the dispute cannot be resolved with the vendor, mark the transaction as “disputed” on
your monthly report and contact Barbara Washington at (571) 252-1373.
LOST OR STOLEN CARDS:
Lost or stolen cards must be reported immediately to the bank. The office of the Director
of Finance must also be notified immediately at (571) 252-1190.
CANCELLATION OF CARDS:
When a bookkeeper, principal or individual cardholder leaves Loudoun County Public
Schools’ employment, notify Barbara Washington at (571) 252-1373. Cut the card in
half, and have the bookkeeper or Account Manager bring the card(s) to Becky Dufresne
in the Director of Finance office.
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