Streamline Student Activity Fund Management

Mitigate financial risk and misuse with a secure digital wallet

Reduce Risks Associated with Student Activity Fund Management

Reduce the Risk of Student Activity Funds

Challenges with Student Activity Funds

The nation’s school district business leaders have a LOT to manage these days, including increased costs and shrinking budgets. On top of everything else, leaders must also ensure the integrity and security of student activity funds - monies raised by students and families to support clubs, athletic teams and other student-led organizations - while allowing student advisors to access them.

The struggle to manage these funds effectively is often due to outdated technology tools and processes, and the risk is significant. Challenges include:

Manual processes, time-consuming reconciliation
Lack of real-time visibility and control
Difficulty meeting GASB reporting requirements.
Increased risk of fraud and mismanagement

The Solution: ClassWallet’s Digital Wallet

A digital wallet from ClassWallet not only enhances transparency and accountability of these funds, but also streamlines financial processes, reducing the risk of errors and ensuring that every dollar is used effectively for the benefit of students.

Our Digital Wallet Features:

Track Every Transaction

with detailed reports
Advanced Security

protect against unauthorized access
Real-time Visibility

and control over fund usage

Digital Wallet Features for Student Activity Funds

Our Digital Wallet Advantages

Digital Wallet Debit Card

Issued as a physical or digital card, linked to specific funds to ensure approved purchases, enhancing security and control.

Reimbursements

Automate the paperless reimbursement process by linking bank accounts and automating receipt collection, reducing administrative tasks and ensuring quick, accurate processing.

Purchasing and Procurement

Simplify the process with a tailored marketplace and detailed reporting, adding transparency and accountability when managing student activity funds.

Reporting

Generate audit-ready reports for early ECE public funding by incorporating internal review and approval workflows, ensuring accuracy and compliance with regulatory requirements.

Enable Fund Management Best Practices with a Digital Wallet

ClassWallet supports uploading receipts for SAF expenses

A digital wallet enables school officials and advisors to access their student activity funds, while automating payments and maintaining an audit trail of expenses.

Streamline operations to help meet important financial standards, like Governmental Accounting Standards Board (GASB) Statement No. 84, which increases oversight of these unique funding types.