1. Sponsor Fundraiser/Sales/ Collection of Fees Training 2010-2011

2. What is a Fundraiser/Sale? Collecting money for goods –yearbook –catalog sales –t-shirts, candy, concessions 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 TripsField Trips Instrument UsageInstrument Usage FinesFines Library Copy FeesLibrary Copy Fees Membership DuesMembership Dues

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 -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 profitFundraisers/Sales: sales tax is always considered, regardless of a profit Collection of fees: not taxable eventsCollection 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.) Sales tax calculator found at: S drive: District / Finance / Sales Tax / sales tax calculation.xls

12. 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

13. Audit Expectations & Tips Approval FormApproval Form Inventory &/or Ticket ReportInventory &/or Ticket Report Tabulation of Money Form or ReceiptsTabulation of Money Form or Receipts Deposit timelyDeposit timely Deposit FormDeposit Form Profit / Loss FormProfit / Loss Form

14. 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 … plus much more

15. QUESTIONS Ask your office manager Contact Veronica Couzynse at x28203