Vocabulary
The document that serves as the primary source of direction in all matters related to finance, complying with Archdiocesan financial policies and procedures.
What is the Parish Control Manual? (Section 3100)
The person who:
Approves the school budget, works in collaboration with the school board to set tuition and approve salaries, approves expenditures.
Who is the pastor? (Sec 3111)
True or False:
Cash should be held for deposit until there is more than $50.
What is false?
*At least a weekly deposit is to be made.
Monies should be stored in a lock safe, tamper evident bag.
Large checks should be deposited sooner.
(See Parish Control Manual)
Cash investment in addition to any in-kind services i.e. paying for lawn services, paying the utility bill, etc. from the parish to support the operating expenses of the school.
What is a Parish Investment? (Section 3350)
Used to maintain a record of assets and to provide documentation in the event of an insurance claim.
What is "inventory"? (Section 3224)
The person who opens monthly bank statements and reviews it for unusual amounts and transactions.
Who is the pastor and principal? (Parish Control Manual)
The point at which the principal/designee makes a call to collect tuition due.
What is "5 days?"
"delinquent tuition procedures" (Sec 3322)
September 15th
What is "the last day to make amendments to the budget"?
*any significant changes, to expenditures and revenues need to be communicated to the CSO.
A strategic written plan for improvement designed to provide administrators, faculty & staff, board members, parents and volunteers with a clear understanding of the components of successful marketing.
What is a development plan? (Section 3362)
True or False:
All departments (ex. athletics, art, science, ELA, etc.) have purchasing discretion to order materials, supplies, equipment if needed.
For example, Athletic Director can order t-shirts, and turn in invoices after purchase.
What is False? (Section 3423)
True or False:
If parents pay tuition in cash, they do not need to register in FACTS.
What is False?
All students need to be entered into tuition management database.
True or False:
Funds raised should remain untouched to accumulate interest in the DS&L account.
What is False?
Funds raised should not be allowed to accumulate without a good and stated reason which includes how the funds are to be used, as well as the approval of both the principal and pastor (for elementary schools).
The strategic processes and activities used to identify, cultivate, invite, and recognize donors creating a culture of support and philanthropy that advances the mission of the school.
What is Development or Advancement? (Section 3360)
True or False:
The School Bookkeeper or secretary should verify the total tuition paid to date per the school records with the tuition payments deposited on a quarterly basis
What is False? (Parish Control Manual)
Maintained in a locked cabinet/safe and is reconciled quarterly to ensure amount does not exceed $250.
What is Petty Cash? (Section 3225- Parish Control Manual)
Amount collected when the school sells books, supplies, uniforms, and other tangible items.
What is Sales Tax?
A concrete expression of the value of Catholic education as well as the allocation of the school's financial resources in such a way that the educational mission of the school may become a reality.
What is the budget? (Section 3211)
True or False:
The pastor is responsible for reviewing and approving agreements and contracts for the school.
What is False? (Section 3124)
Legal counsel for the CSO must approve all agreements and contracts for Archdiocesan schools.
True or False:
Schools must consult with the Archdiocesan Development Department before applying for a grant.
What is True? (Section 3367)
Local procedures established to monitor safety requirements in the school.
What are Inspections? (Section 3512)
Fire Marshal, Fire Extinguishers, Asbestos, Elevators, Health/Kitchen, Drinking Water, etc.