162 Associated Student Body Accounting Manual, Fraud Prevention Guide and Desk Reference
4. e ASB bookkeeper is responsible for endorsing the back of the checks received. Typically, a rubber
stamp is used that states, “For deposit to the bank account of the Sample School.”
5. e ASB bookkeeper is responsible for storing the cash and
checks and the supporting documentation in a safe place
until it is counted in the presence of a witness and deposited
in the bank. Because of the amount of cash often stored on
site, each school should have a safe for cash storage. If the
safe is used almost exclusively for ASB funds, the purchase
of a safe is an appropriate use of student body funds – if
approved by the students.
6. As soon as possible, the ASB bookkeeper should recount the
cash in the presence of a witness and compare this count to
the information turned in by the ASB advisor. is includes
the following:
• ASB Cash Count form
• Cash register tape
• Report of ticket sales
• Receipt book log
• Tally sheet
e bookkeeper should immediately notify the advisor any
discrepancies noted during the cash count. Both the ASB
bookkeeper and a witness should sign the Cash Count form
and initial the dierence.
As soon as the advisor and bookkeeper determine the reason
for the discrepancy, they should report any signicant
discrepancies to the principal/school administrator. e loss
of tickets is the same as the loss of cash. If the remaining
tickets do not reconcile with the cash collected to date,
something has gone amiss and a plan should be developed
to ensure that it does not continue.
7. After the ASB bookkeeper has veried the amount of cash,
the bookkeeper should sign and date the ASB Cash Count
form and provide a copy to the ASB advisor. When the
information on the Report of Ticket Sales form has been
veried, the ASB bookkeeper should sign and date the form
and provide a copy to the ASB advisor. is information is
the evidence that the amount of cash received by the ASB
bookkeeper agrees with the amount the ASB advisor turned
in.
8. Deposits should be made to the ASB bank account at least
weekly, though within two to three school days is preferable.
Avoid leaving money at a school over the weekend or holidays
because many thefts occur during those times. If money must
be left at school during those times, ensure that there is a
procedure for securing the funds in the school safe.
Fraud Alert
Trusting advisors too often leave funds
unattended on the ASB bookkeeper’s
desk. When the ASB bookkeeper
returns, the funds have been taken.
When the ASB bookkeeper is not
available, assign another individual to
receive the deposit and sign for the
funds received. As a second level of theft
deterrence, install surveillance cameras.
Many times an ASB bookkeeper has been
falsely accused of theft when students,
teachers, parents or others have been
the criminals. Do not leave money
unattended.
Fraud Alert
Ensure that the total of the checks and
cash received agrees with the total
collected. Would-be thieves swap
receipts for checks with those for cash,
enabling them to replace cash with checks
received and pocket the cash. Many cash
count forms are designed to verify that
the total of the numbered receipts is the
same as the combined total of cash and
checks; however, this will not stop fraud.
All numbered receipts should be
accounted for using beginning and ending
numbers from the prior deposit and for
completeness with the current deposit.
There should be no missing receipt
numbers, and cash and check receipts
should be matched within the cash and
check category totals. Finally, the name
on the check should be matched with the
name on the receipt. To commit fraud,
most perpetrators of fraud need to have
several event deposits available and the
time and opportunity to mix and match
checks and cash as needed. Good ASB
bookkeepers will notice that they have
not received funds for activities they
know have occurred and will notify the
site administrator and activities director
of any patterns observed.