1. JISD Activity Fund Training
August 18, 2017

2. Why Do I Need Training? Why is Training Important?
Financial Responsibility
Audit Requirements
To Keep Out of Trouble!
Why Were You Selected for Training?
New to the Position
Red Flags During the Year
Audited a minimum of once every 4 Years

3. Activity Fund Training
Activity Fund Manual
JISD Website
Employee Portal
Business Office Forms
General Business Forms
Quick Reference Guide
Should Answer Most of Your Questions

4. Activity Fund Training
Alison Jones x 9422
Cash In – Cash/Checks & Receipts
Allowable Fundraisers
Audit
Sales Tax Reporting
Supply Needs
Troy Parker x 9417
Cash Out - Purchasing
Student Travel

5. Activity Fund Training
What Type of Activity Fund Do You Manage?
Student Activity Fund
865-XX-2190-XX-XXX-X-XX-###
Student’s Direct How Funds are Spent
Must have Officer’s and By-Laws
Campus/Department Activity Fund
461-XX-5755-XX-XXX-X-XX-XXX (Deposits)
XX-XXX-X-XX-XXX (Expenses)
Sponsor Directs How Funds are Spent

6. Student Activity Fund
Student officer is required to sign off on all purchases along with the sponsor
Approval of purchases should be document in meeting minutes
Can be a blanket statement
Ex. “All legitimate expenses to help the _____ student activity group function for the school year will be paid with approval of a student officer, sponsor and principal.”

7. Activity Fund Training
Audit Compliance
Cash Receipts and Deposits
Disbursements
Fundraisers

8. Cash Receipts and Deposits

9. Cash Receipts and Deposits
Pre-numbered cash receipts are being used in sequential order
Purchase a receipt book
Keep voided receipts in the book and include them in the ‘sequence’ of receipts on the cash count form
Documentation exists that verify two individuals counted cash
Sponsor and Secretary
Sponsor and Student Officer

10. Cash Receipts and Deposits
Original receipts (including voided ones) are in the receipt book
Copies of all checks are kept with record of deposit (Or check stub documentation)
There is no evidence of personal checks being cashed or being used to cover expenses
Cash count form adequately describes the source of the revenue

11. Cash Receipts and Deposits
Deposits are being made in a timely manner (when collections exceed $25)
Don’t hold cash or checks!
Secure in safe or locked cabinet until time for counting & depositing
Cash is not being held by sponsor for any reason
Cash Count Form includes receipt numbers to allow for proper audit trail
-- Order forms may take place of receipts

12. Cash Receipts & Deposits
Pick copy of deposit is retained and yellow copy of deposit is sent to Business Office in a timely manner
Direct impact on the district’s bank reconciliation
Keep pink copy for your records
#1 Priority with cash receipts & deposits
PROTECT YOURSELF!!

13. Disbursements

14. Disbursements
Sufficient funds existed prior to disbursements being made
Don’t spend money you don’t have!
Review your Activity Fund Report (attached)
When required, Purchase Order’s were submitted prior to receiving goods
Principal/Director gave prior approval on all purchases

15. Disbursements
Funds were used to promote the general welfare of the school or the educational development of the students.
When issued student meal advances, proper documentation exists for receipt of funds by students
#1Priority when spending funds
The Fish Test
If reported in the newspaper...would it smell fishy?

16. Fundraisers

17. Fundraisers
Principal/Sponsor submitted a Request for Fundraiser Approval form 30 days prior to each activity and those activities were given approval.
Submit to Business Office

18. Fundraisers
At the conclusion of the fundraiser the required Profit-Loss Worksheet is sent to the Business Office with all sections of the report completed as required.

19. Fundraisers
Sales tax was collected on sales which were not specifically exempt. Calculation of tax was computed correctly.
The Sales Tax Report was completed at the end of each quarter and sent to the Business Office in a timely manner.
Alison Jones will you this report quarterly
Sign & return even if $0 taxable sales

20. Fundraisers
Proper records were retained for audit purposes. Records include:
Fundraiser activity distribution lists
Daily collection reports and lists of student with outstanding receipts
Copies of receipts and disbursements
Copies of ending inventory
#1 Priority for fundraisers
Approval & Profit-Loss

21. Sales Tax
Sale
Tax-Free Day
Pay Tax
Taxable
Not Taxable

22. Sales Tax
See Determining if a Sale is Taxable or Non Taxable Helpful Information tab
Each group is allowed two one-day tax-free fundraisers
One- Day Defined
24 consecutive hours – delivery should be made on the same day
Pre-sales & pre-paid sales count as 1 day on day of delivery [example: Yearbooks]

23. Example JISD Indians Fundraiser: Selling t-shirts
Distribution date: 11/29/17
Pre-orders: 200 shirts
Shirts ordered: 400 shirts
Day of Distribution: Passed out the 200 pre-ordered shirts AND sold an additional 150 shirts at the football game that day

24. Example JISD Indians T-shirts are taxable
This counts as one of the tax-free days
350 shirts were sold without having to collect sales tax
If the 50 remaining shirts are sold throughout the year, sales tax should be collected

25. Changes to Forms
Cash Count Form
Fundraiser Approval/Recap Form

26. Audits EAST SIDE LIBRARY FRED DOUGLASS LIBRARY WEST SIDE LIBRARY
JOE WRIGHT LIBRARY
NICHOLS GENERAL
NICHOLS BAND
JMS GIRLS ATHLETICS
MS YEARBOOK

27. Audits JMS SCIENCE CLUB JMS SOCIAL CAREER & TECHNOLOGY AG SHOP FUND
AP EXAM FUND
JHS FCA
JHS NATIONAL HONOR SOCIETY
JHS KEY CLUB

28. Audits
FFA SHOW TEAM
COMPASS CENTER ACTIVITY

29. Activity Fund Training