Boston Public Schools is making schools deposit student activity money into the citywide financial system, training school principals and staff on how to correctly manage fundraising money and adopting a new policy to ensure strong control over cash collection and deposits after an IRS audit last year found mismanagement of student activity accounts.
The moves are in response to a separate independent audit by Ernst & Young that analyzed student activity funds and use, assessed key internal controls and reviewed historical transactions at 118 schools in the BPS system over the past five years.