Records Retention/Submission Frequency Due Date/s Munis (public schools) Per onsite record retention Daily n/a policy. Financial statement records Weekly cumulative (non-public school sponsors) Monthly cumulative Annually cumulative Statement of Program Expenditures SFAs must track all expenditures specific to the Child Nutrition Program separately from all other expenditures within the district/organization. SFAs are expected to record information daily and review cumulative weekly, monthly, and yearly reports. Financial statements should conform to all generally acceptable accounting practices. Supporting documentation for each entry must be maintained to support that costs are allowable. Records Retention/Submission Frequency Due Date/s Munis (public schools) Per onsite record retention n/a policy. Financial statement records Weekly cumulative (non-public schools) Monthly cumulative Annually cumulative Balance Sheet (Statement of Net Position) SFAs should monitor the financial position of the Child Nutrition Program at the end of each accounting period by reviewing a balance sheet. The balance sheet should include information about the program’s assets, liabilities and fund balance.
Records Munis (public schools) Financial statement records (non-public school sponsors) Retention/Submission Per onsite record retention policy. Frequency Daily Weekly cumulative Monthly cumulative Annually cumulative Due Date/s n/a Statement of Program Expenditures SFAs must track all expenditures specific to the Child Nutrition Program separately from all other expenditures within the district/organization. SFAs are expected to record information daily and review cumulative weekly, monthly, and yearly reports. Financial statements should conform to all generally acceptable accounting practices. Supporting documentation for each entry must be maintained to support that costs are allowable. Records Munis (public schools) Financial statement records (non-public schools) Retention/Submission Per onsite record retention policy. Frequency Weekly cumulative Monthly cumulative Annually cumulative Due Date/s n/a Balance Sheet (Statement of Net Position) SFAs should monitor the financial position of the Child Nutrition Program at the end of each accounting period by reviewing a balance sheet. The balance sheet should include information about the program’s assets, liabilities and fund balance.
SCN%20Record%20Keeping%20Handout.docx