If you write a check for Dollar-a-Day, make it out to Steck PTSA, and drop it off at the school office.
This is a PTSA program that raises funds through direct monetary contributions. The Dollar-a-Day fund is designed to maintain excellence in the Steck curriculum. The Steck PTSA began raising money for this fund in the fall of 2003. Specifically, funds are used to support teacher and paraprofessional salaries. Families are asked to contribute $180 per child (one dollar for each day that their child is in school). The funds are held in a Denver Public School (DPS) grant account (i.e. the Steck 1107 account).
The Dollar-a-Day program was conceived of in the spring of 2003 in response to a projected budget cut for the following academic year that would result in the loss of all or a portion of one FTE (full time equivalent). The Steck community has been supportive of this program, recognizes that budget cuts will continue to affect our schools’ funding in ways difficult to predict from year to year, and desires to continue to support this unique fund-raiser indefinitely so that our school is well-positioned to address any future budget cuts in a timely manner.
Why has the PTSA deposited funds into a DPS account vs. at a private bank?
Four reasons. One, it was believed that if the PTSA accounts (held privately) went over a threshold amount we would have go through a more extensive audit procedure. Two, holding the monies with DPS allows us to accept "matching funds" from donors’ employers. Three, "All city, state and federal grants in any amount and all other grants over $1,000 MUST be accounted for through the District accounting system" (All About Grants, DPS Booklet). Four, Steck cannot pay teachers from a private account. In order to spend Dollar-a-Day monies on teacher salaries, Steck is obligated to follow DPS payroll procedures.
Who is the grant manager?
Once funds are deposited into the DPS account, the funds are tracked by the grant accountant who is a DPS employee in the budget office. The grant manager is the school employee responsible for managing the grant. A school Principal is generally considered to be the grant manager.
Who has final say over how the monies are spent?
"The Grant Manager will...adhere to all guidelines stipulated by the grantor." (All About Grants, DPS Booklet). In this case, the PTSA is the grantor of the money. The Principal and the PTSA must be in agreement before monies can be disbursed.
How easy is it to change the way monies are spent?
If the Principal and the PTSA are in agreement, they way the funds are spent can be changed at any time. In the eyes of DPS the funds are entirely discretionary and are restricted only by the terms put forth by Steck itself.
How do we make this fund more transparent to the Steck Community?
Throughout the year, the Steck PTSA and the grant manager must report clearly and frequently on how the fund is being used.
In January of each school year, the PTSA will collect feedback from its membership on how they believe Dollar-a-Day funds should be spent in the upcoming school year. This feedback must be recorded in the PTSA minutes and be made available to the Principal, teachers, and CSC.
Within two weeks after the release of the RAM (Resource Allocation Management – the document outlining staff allocations), the Principal and CSC produce a fully documented request for Dollar-a-Day monies, including the exact amount requested and the exact purpose(s) for which the grant money will be used. The PTSA membership shall then vote to support/not support the request.
Each time the PTSA votes to make a grant of Dollar-a-Day funds, the PTSA president and the Principal shall sign an agreement outlining how the Dollar-a-Day funds will be used for the upcoming school year. The language in the agreement shall be used on the Grant Budget Information Sheet detailing exactly how the Dollar-a-Day monies will be used in the upcoming year.
Should we bank the funds privately?
Except for the Dollar-a-Day funds, the PTSA banks all the funds that it raises in its own private bank account. The Dollar-a-Day fund is an exception for the reasons listed above. We have found, however, that we have received only one employer matching contribution in the history of the Dollar-a-Day fund, and that the potential audit ramifications do not exist. It is proposed that the PTSA bank the Dollar-a-Day funds just as we bank all other PTSA funds, i.e. in the PTSA private bank account. Doing so would:
- streamline and clarify PTSA’s accounting so that all fundraising monies are treated in the same way;
- highlight the PTSA’s accountability for how the funds are spent;
- clarify the grantor/grantee relationship between the PTSA and Steck.
The DPS 1107 account would still exist. This is the only device we can use to pay DPS staff with privately raised monies. Once the PTSA, CSC, and the Principal have reached an agreement on the purposes and amount of funds to be spent, a lump sum would be deposited in the 1107 account and drawn down over the course of the school year. Once the money is placed in the 1107 account, the PTSA will rely on DPS to do the fund accounting.
Part of the grantor/grantee relationship between the PTSA and Steck should include a report, at the end of each semester, from the Principal on how Dollar-a-Day monies are being spent; including all disbursements from, and the current balance in, the DPS 1107 account.
This page was last updated: Thursday, August 14, 2008 at 4:26:57 PM