Wapanucka Public School

Understanding the Activity Fund in Oklahoma School Finance

What is the Activity Fund?

• Definition:
  • A fund used to manage money raised through student-related activities and events.
  • Supports extracurricular programs, clubs, and student organizations.
• Purpose:
  • To safeguard and manage student-generated funds for designated purposes.

How is the Activity Fund Funded?

• Primary Sources:
  1. Student Fundraisers: Proceeds from club, class, and organization events.
  2. Gate Receipts: Revenue from athletic events and performances.
  3. Donations and Sponsorships: Contributions from businesses, community members, and boosters.
  4. Concessions and Merchandise Sales: Profits from sales at school events.

What Can the Activity Fund Be Used For?

• Allowed Uses:
  1. Funding for student club and organization activities.
  2. Supplies, materials, and equipment directly related to student activities.
  3. Travel expenses for student competitions and events.
  4. Awards, incentives, and recognition programs.
• Prohibited Uses:
  1. Cannot be used for general operational expenses, salaries, or capital projects.

Legal Framework

• Oklahoma Statutes:
  • Title 70, Section 5-129: Governs the management and expenditure of activity funds.
• Oklahoma State Department of Education (OSDE) Guidelines:
  • Provides additional oversight and compliance requirements.

Management and Oversight

• Board Approval:
  • Board approval is required for all fundraising activities and expenditure plans.
• Custodian of Funds:
  • The school district treasurer or designated custodian is responsible for maintaining and disbursing funds.

Compliance and Accountability

• Auditing:
  • Annual audits conducted by the State Auditor and Inspector’s Office to ensure compliance.
• Internal Controls:
  • Established procedures for safeguarding funds and preventing misuse.
• Transparency:
  • Regular reporting to the school board and public to maintain accountability.

Key Takeaways

• Purpose: Supports student organizations and activities.
• Revenue Sources: Primarily student fundraisers and event proceeds.
• Compliance: Requires strict management, board approval, and audits.

Questions 

• Contact Superintendent at amcreynolds@wpss.k12.ok.us or OKSD school finance website.