1. Money Matters Fundraiser, Sales, Collection of Fees 2010-2011

2. What is a Fundraiser/Sale? Collecting money for goods –Yearbook, science fair boards, garage sales –catalog sales, magazine sales –t-shirts, candy, pencil sales, recorders etc. Services –car wash Internal events –plays, concerts, banquets, etc. A fund-raiser may: –make a profit –break even –lose money (when the cost exceeds revenue)

3. What About Collection of Fees? Field Trips Fines Library Copy Fees Membership Dues Donations/Commissions

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

5. Approval Form Fundraiser/Sale  Yes Collection of Fees  No Prior approval required Use bid vendors or vendors on fundraising approved list

6. Inventory Fundraiser/Sale  Yes Collection of Fees  No Tracking of inventory must be completed: - Description & Quantity -Purchase Price -Sales Price -Unit of measure -Items damaged, comp’t or lost

7. Ticket Sales Report New simplified form

8. Deposit Form Fundraiser/Sale  Yes Collection of Fees  Yes Complete & submit a deposit form with every deposit Every deposit will need a 2 nd person to verify

9. Profit/Loss Form Fundraiser/Sale  Yes Collection of Fees  No To be completed for every fundraiser within 2 weeks to a month at conclusion of fundraiser

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

11. 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

12. Campus responsibility Keep a log Tracking Sales Tax Exempt Days

13. What is New for 2010-11 Deposit Log –To record funds that are dropped off by a staff member or sponsor to either Office Manager, Finance Clerk, or administrative staff

14. ELEMENTARY MONEY MATTERS Adventure Camp 5 th Grade Field Day T-shirts/ Staff T-shirts Entrepreneur Project School store/recorders/science boards/pencil sales Garage sales

15. Adventure Camp Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

16. 5 th Grade Field Day T-Shirts/Staff T-shirts Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

17. Entrepreneur Project Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

18. School Store/Recorders/ Science Board/Pencil Sales Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

19. Garage Sales Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit Form Profit / Loss Form

20. Audit Expectations & Tips Approval Form Inventory &/or Ticket Report Tabulation of Money Form or Receipts Deposit timely Deposit Form Profit / Loss Form

21. 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?

22. 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