Money Matters Fundraiser, Sales, Collection of Fees

Comparisons Fundraiser/Sale Collection of Fees Approval Form YesNo InventoryYesNo Tabulation Form or Receipts Yes Deposit Form Yes Profit/Loss Form YesNo

Sales Tax Fundraisers/Sales: sales tax is always considered, regardless of a profit Collection of fees: not taxable events

Sales Tax Every student organization is eligible for 2 one-day tax-free sales during a calendar year (Jan. to Dec.) Food is not taxed Catalog Sales & Book Fairs – taxes are collected and paid to State by vendor Sales tax calculator found at: S drive: District / Finance / Sales Tax / sales tax calculation.xls

Tracking Sales Tax Exempt Days Campus responsibility Keep a log

What is New for Deposit Log –To record funds that are dropped off by a staff member or sponsor to either Office Manager, Finance Clerk, or administrative staff

SECONDARY MONEY MATTERS Field Trips Student T-shirts/ Staff T-shirts Plays, Socials, Stay Day School Store/Candy Sales/Science Boards Coin Collections Donations/Commissions Student ID fee, transcript fees, A/P testing & parking fees

Field Trips Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

T-Shirts/Staff T-shirts Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

Coin Collection for Leukemia Society Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

Play/Concessions Approval Form Inventory &/or Ticket Report Tabulation Form or Receipts Deposit Form Profit / Loss Form

Fees: Student ID, Parking, Transcript, A/P testing Approval Form Inventory &/or Ticket Report Tabulation Form or Receipts Deposit Form Profit / Loss Form

Inventory Form

What About? Students paying vendor directly? Using volunteers on fundraisers? Start up change box? Missing funds or inventory? Sponsor refusing to follow guidelines? Tracking fundraisers?

Audit Review Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit timely Deposit Form Profit / Loss Form

Audit Ratings Excellent Strong Average Below Average Our goal is excellent for every campus!

LOCATION OF FORMS All finance forms are located on the S drive: District / Finance / … –Fundraising information and forms –Sales Tax Information –Forms and Admin Handbook (updated 2010) … plus much more