Return to Index
2025
ACCOUNTING FOR ATHLETICS
Each school in Shelby County will use the following procedure when accounting for athletics:
Establish one primary athletic account, using subsidiary or sub-accounts to
account for revenues and expenditures in individual sports.
One or more of the subsidiary accounts may incur a deficit balance provided that
the primary account for athletics (net total of all athletic subsidiary accounts)
does not have a deficit balance.
Only the primary account should be reported in the audited financial statements.
The principal is considered to be the sponsor of the primary athletic account
Adopted 06/24/99