Question: The ASB Accounting Manual does not state what may be done with the interest earned on ASB funds. Is it required to be distributed pro-rata to the clubs?
Response: Interest earned on Associated Student Body (ASB) funds belongs to the ASB. There is no rule or statute directing how it must be distributed. We suggest that districts determine their own process and then formalize the method by including it in the ASB board policy or another similar record.
3/31/05
