activity for some service or object after the deduction of any dis-
 counts, rebates, or reimbursements.
Outstanding Check-A check which has not been presented to the bank
 for payment prior to the issuance of the monthly bank statement.
Outstanding Deposit: Deposit in Transit-A deposit which has been
 transmitted to the bank and recorded in the depository ledger but
 record of which does not reflect on the monthly bank statement;
 usually a deposit made after banking hours on the last day of
 the month or on the day the bank statement is usually prepared
 by the bank.
Overdrawn-A situation in which an obligation for a student-body or-
 ganization is made beyond the financial resources of the organiza-
 tion; actual expenditures exceed actual receipts.
Perpetual Inventory-An inventory record which is initiated by a physi-
 cal inventory and perpetuated by notations of receipts and with-
 drawals, thereby reflecting a balance on hand for each item so
 recorded.
Personal and Contracted Services-As used in this guide, services ren-
 dered by personnel on a salary or contractual basis for the pro-
 gram operation of an activity. It may include the full-time, part-
 time, and prorated portions of salaries paid out of a school ac-
 tivity fund for coaches, sponsors, trainers, and similar personnel,
 and for other contracted services such as fees for providing en-
 tertainment programs, producing publications, and photographing
 individuals and groups.
Personnel, Clerical-Personnel occupying positions which have as their
 major responsibilities the preparing, transferring, transcribing,
 systematizing, or preserving of written communications and rec-
 ords.
Personnel, Instructional-Those who render direct and personal serv-
 ices which are in the nature of teaching, or the improvement of the
 teaching-learning situation. Included here are consultants or su-
 pervisors of instruction, principals, teachers, (including teachers of
 the homebound), guidance personnel, librarians, and psychological
 personnel. Attendance personnel, health personnel, and clerical per-
 sonnel should not be included as instructional personnel.
Petty Cash-A sum of money, either in the form of currency or a spe-
 cial bank deposit, set aside for the purpose of making change or
 immediate payment of a comparatively small amount.
Posting-The act of transferring to an account in a ledger the detailed
 or summarized data contained in the cash receipts book, check reg-
 ister, journal voucher, or similar books or documents of original
 entry.
Pre-Numbered-Documents, papers, tickets, or similar items which have
 been consecutively numbered by the printer before delivery to the
 school.
Prior Authorization-A written approval granting the authority to enter
 into a contract, to obligate funds for a purchase, or to receive a
 benefit before consummation of the act.
Purchase Order-A document which authorizes the delivery of specified
 merchandise or the rendering of certain services and the making of
 a charge for them.
Reconciliation of Bank Statement-A statement of the 'details of the
 difference between the bank statement and the fund account record.
 Thus, an analysis of outstanding checks, deposits in transit, and