Can school districts establish an extracurricular activities fees tax credit bank account?
No. Districts are not authorized to establish a separate bank account for extracurricular activities fees tax credit monies. A.R.S. 15-1126 allows a districts governing board to establish one bank account designated as the Auxiliary Operations Fund bank account in which to deposit all monies from school bookstores and athletic activities. Districts may deposit extracurricular activities fees tax credit monies in the Auxiliary Operations Fund bank account or directly with the County Treasurer in Fund 525Auxiliary Operations or Fund 526Extracurricular Activities Fees Tax Credit.
No. Districts are not authorized to establish a separate bank account for extracurricular activities fees tax credit monies. A.R.S. 15-1126 allows a districts governing board to establish one bank account designated as the Auxiliary Operations Fund bank account in which to deposit all monies from school bookstores and athletic activities. Districts may deposit extracurricular activities fees tax credit monies in the Auxiliary Operations Fund bank account or directly with the County Treasurer in Fund 525Auxiliary Operations or Fund 526Extracurricular Activities Fees Tax Credit. Districts may also deposit extracurricular activities fees tax credit monies in the miscellaneous receipts clearing bank account and then remit the monies monthly to the County Treasurer for deposit in Fund 525 or Fund 526.
Related Questions
- Are expenditures of extracurricular activities fees tax credit monies exempt from the School District Procurement Rules and USFR guidelines for oral and written price quotations?
- Can school districts establish an extracurricular activities fees tax credit bank account?
- Can charter schools establish an extracurricular activities fees tax credit bank account?
