||Child Development Center - Accounting Procedure
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The Child Development Center Supervisor is responsible for collection, expenditure,
and accounting for all monies in operation of the Child Development Center.
The Lead Teacher(s) will assist in this procedure.
- Cash Receipts
When collecting fees, Child Development Center personnel will issue
the official Child Development Center receipt, Form LSSC 360-486.
- The receipt will be in triplicate.
- The original (white copy) will be retained by the Child Development
Center in numerical sequence.
- The second copy (yellow) will be transmitted to the Business
- The third copy (pink) will be given to the person paying the
fee as a record of payment.
- Receipts will be used in numerical sequence.
- If a receipt is voided, all three copies shall be so marked and the
copies retained with the white copies in numerical sequence at the
Child Development Center.
- Cash receipts will be deposited each day with the Business Office
cashier. If this is not possible, then receipts will be kept in a locked
file at the Center overnight.
- Checks are to be made payable to Lake Superior State University or
LSSU Child Development Center and stamped with a 'Deposit Only' stamp.
- Cash receipts will be recorded in the General Fund, account number
1-06000-0560, titled Child Development Center tuition.
- Individual Ledgers
Child Development Center personnel will establish and maintain individual
ledgers for each participant, recording the payment and the period it
covers. Entries will show date of payment, receipt number, and amount
paid. These records will be kept for internal administrative purposes.
- All expenditures of funds for Child Development Center operation
must be approved by the person so authorized and whose "Authorized
Signature Card" is on file in the Business Office.
- The General Fund Child Development Center account number is 1-14040.
(Object codes will be assigned as expenditures are made.)
- A petty cash fund may be established, if the need arises