Hickman County Board of Education
Descriptor Code:
Issued Date:
Descriptor Tenn
2.400
03/02/26
Revenues
Rescinds:
Issued:
2.400
12/04/23
1
General
2
Any money collected by any school shall be documented by a written receipt.
3
The schools may receive funds collected from activities and for events held at or in connection with
4
the school, including contracts with other schools for interschool events. To be included in this
5
accounting are all monies collected from lunch rooms, athletics, entertainments, school clubs, fees,
6
concessions and all fundraising activities. Each principal shall determine the reconciliation method to
7
be used for all events which require a ticket.
8
The purchase of items intended for resale for profit through the schools shall be subject to sales tax
9
based on the purchase price to the vendor providing the service or item. Resale items not intended to
10
generate a profit shall be determined by the principal.
FEES
12
School fees are to be kept to a minimum and may be expended only for the purposes for which they
13
were collected. The school shall not require any student to pay a fee to the school for any purpose,
14
except as authorized by the Board. No fees shall be required of any student as a condition to attend the
15
school or use its equipment.² School fees shall be waived for students who receive free or reduced-
16
price lunches. 3 No student will be penalized for non-payment of any materials fee.
17
EXTENDED SCHOOL PROGRAM
18
Extended school funds shall be collected at the individual schools and receipted and deposited in the
19
school bank account. The principal shall report the collections and pay the Board by school check.4
20
FINES
21
A student will be held responsible for the cost of replacing any materials or property which the student
22
loses or damages,⁵ including textbooks, library books, equipment and buildings. All money collected
23
as fines shall be placed in the systemwide school fund.
24
TUITION INCOME
25
Tuition collected from non-resident students shall be placed in the systemwide school fund.
Version Date March 26. 2026
Revenues
2.400
1
RENTAL INCOME
2
The principal will collect and remit to the central office all money received for use of a particular
3
school facility or other school property.
4
GRANTS
5
Grants for educational purposes made available by the state and/or federal government may be sought
6
by the school system but only when the conditions of their availability are in harmony with the
7
purposes and policies of the Board and the laws of the state and county. Principals may apply for and
8
receive grants, but funds must be recorded in a separate restricted fund account.⁴
9
COLLECTION OF FUNDS THROUGH ONLINE PAYMENT6
10
Approved district staff may utilize Linqconnect.com for electronic transactions. The Director of
11
Schools/designee shall determine when this type of transaction may be utilized on a case-by-case basis.
12
At the individual school level, the principal shall oversee the collection of funds and submit a plan that
13
includes the following:
14
1.
Adequate supporting documentation for the electronic collection method including a plan to
15
provide a total daily receipt summary;
16
2.
Methods of providing receipts to payers;
17
3.
Information on maintaining and inspecting any voided receipts: and
18
4.
How daily electronic collections shall be reconciled with the total daily receipt summary and
19
who will be assigned to complete this task.
20
Processing fees for these transactions shall be charged.
21
The Director of School/designee shall establish adequate internal controls to ensure compliance with
22
the Tennessee Internal School Funds Manual.
23
ROUNDING IN CASH TRANSACTIONS
24
Due to the discontinuance of the penny, rounding procedures shall be utilized in cash transactions.
25
This applies to collections of all cash funds received by the district.
26
Cash transactions shall be rounded to the nearest $0.05. The following rounding method shall be
27
utilized:
28
Amounts ending in $0.01 or $0.02 shall be rounded down
29
Amounts ending in $0.03 or $0.04 shall be rounded up
30
Amounts ending in $0.06 or $0.07 shall be rounded down
31
Amounts ending in $0.08 or $0.09 shall be rounded up
Page 2 of +
2.400
Revenues
1
The Director of Schools/designee shall monitor implementation to ensure compliance with accounting
standards and state law.
Page 3 of 4
Legal References
Cross References
1.
TCA 49-2-110(a): Internal School Funds
Fundraising Activities 2.601
Manual. Section 5-4
Student Activity Funds Management 2.900
2.
TCA 49-6-3001(a); TCA 49-2-110(c)
Food Service Management 3.500
3.
TCA 49-2-114
Textbooks and Instructional Materials 4.400
4.
Internal School Funds Manual, Section 4-32, 4-
Compensation Guides & Contracts 5.110
33
Attendance of Non-Resident Students 6204
5.
TCA 37-10-101, 102
Student Fees and Fines 6.709
6.
Internal School Funds Manual, Section 5-8
Version Date March 26. 2026

## Table 1

|  | Hickman County Board of | Education |  |
| --- | --- | --- | --- |
|  | Descriptor Tenn | Descriptor Code: 2.400 | Issued Date: 03/02/26 |
|  | Revenues | Rescinds: 2.400 | Issued: 12/04/23 |