Fundraiser Mgt, Deposits, Controls

Fundraiser Management,
Deposits, Controls,
What about Sales Tax?
Student Fundraising Policy
District-Sponsored Fundraising - Any
activity that has the purpose of raising funds
in support of a student activity or program
and that is administered and conducted by
school staff or students involved in the
activity or program.
Student Fundraising Policy cont…
The Board prefers that the school district financially support district-sponsored student
programs and activities.
However, in some cases it may be necessary to raise funds to help support these district
endeavors, and the district may involve students in these fundraising activities.
The superintendent and/or administrators will be directly responsible for all districtsponsored fundraising activities conducted in the district or sponsored in any manner
by the district.
School organizations MAY BE LIMITED to a maximum of number of fundraisers.
All district-sponsored fundraising activities must first be approved by the building
administrator and/or the superintendent or designee and must comply with the
requirements set out in district policies and procedures, including the
district's wellness program and district funds management rules.
side note - District's Wellness Program….
Did you know…..
New Obligations !!!
New obligations under the new free and reduced lunch regulations.
Limitations for selling fundraising food to students during the school day.
Food sold to students must meet nutrition standards unless DESE exception
Each school can sell food that does not meet nutritional standards during the school
day for a total of five days a year.
Band sells candy bars during the school day…allowable for five days only!!
This is the only non-nutritional food sales that can occur in that building during the
school day in that year!!
back to - Student Fundraising Policy cont…
Student-Initiated Group Fundraisers
Student-initiated groups are not district sponsored, but these groups have the same access to district
facilities, communications channels and fundraising opportunities as other district-sponsored noncurricular groups. These groups may conduct fundraising activities, but must follow the same rules
applicable to other district-sponsored non-curricular groups.
Fundraising by Other Groups
For liability and funds management purposes, it is essential that district staff not confuse districtsponsored fundraising with fundraising conducted by booster clubs or other groups not directly
controlled by the district.
cannot take responsibility for fundraising or the funds collected by such groups.
To avoid confusing parents, students and community members participating in the
fundraising efforts, only district-sponsored fundraising subject to district rules should occur
during the school day or class time.
A group may only use the name, logo or mascot of the district or of a district school in reference to
a fundraiser if the fundraiser has been approved by the superintendent or designee or the School
Board and the funds raised go to the district as represented in the advertising.
Fundraising Approval Procedure
Approval Form MUST
be completed prior to
scheduling a fundraiser
or ordering
merchandise for a
This form must be completed and returned to building administrator for
approval at least one (3) weeks prior to scheduling and/or ordering
merchandise for a fundraiser.
Name of Club/Organization
__ ________________
Name of Sponsor
Date of Request
GL Expense Code
Type of Fund Raising
Vendor / Salesperson
Estimated Total Revenue: $_____________
Estimated Total Payment to Vendor $_____________
Est. of Other Costs Incurred and Explanation:
Requested Delivery Date
Actual Date of Delivery
Person Accepting Delivery
Person Accepting Delivery
Week of Sale
Week Money to be Collected
Sponsor Signature
Building Admin. Signature
This fundraiser has been approved / disapproved (circle one)
on the following date _______
Requirements for Fund Raiser Approval
A worksheet is available (if needed) to calculate the Estimated Revenue and Expenditures. The
worksheet does NOT need to be attached to this form.
Complete “Fundraiser Approval Form
Administrator must approve the contract/agreement between the fundraising company and the
sponsor and a copy
a. Scanned to Accounts Payable as support for requisition/purchase order.
b. Filed with building administrator.
Fundraiser placed on building calendar.
A copy of fundraising guidelines to be given to the students.
Checks must be made out in building name or MVR-III School District; no other checks will be
Students are not to coordinate fundraising monies. This is the sponsor’s responsibility.
Deposits turned in daily and initialed by secretary. Fund raiser # MUST be recorded on deposit
All accounts monies/merchandise must be collected and turned in within one (1) week of end of
Fundraiser Worksheet
Worksheet is available (if needed) to calculate the Estimated Revenue and Expenditures.
The worksheet does NOT need to be attached to fundraising form.
Fundraiser Worksheet
Fundraiser #
Average Cost
# of items sold
Estimated total
Total Estimated Revenue:
Total Estimated Expenditures:
Estimate the average cost of the items being sold.
Estimate how many items you think you will sell
The school gets 40% of the sales
$20,000.00 Total estimated Revenue
The vendor gets 60% of the sales
$30,000.00 Total estimated Expenditures
Deposit Controls
This procedure applies to all district employees who collect money regardless of whether
that activity takes place on or off campus.
Method of Payment
Checks are the preferred method of payment for all school activities. Other
acceptable methods of payment include cash and money orders. All checks and money
orders should be made out to the building name or to Meramec Valley R-III School
Cleared checks will provide proof of payment for any non-cash payments.
For payments made in cash, the payer may request a written receipt from the teacher,
sponsor or other school personnel. Personnel will provide a receipt upon request.
Deposit Controls cont….
Proof of Receipt
All monies (cash, checks and money orders) collected by personnel other
than the building secretary must be turned into the building secretary daily,
accompanied by daily tabulation of receipts form.
Submit all money to the secretary in the same form as collected.
Never cash or substitute personal checks with cash collections.
Do not hold or accept pre- or post-dated checks.
Do not deposit money in personal checking accounts or bank deposit boxes.
Do not spend any of the collections. All payments must be made utilizing
the Board approved purchase process.
Deposit Controls cont…
All checks will be endorsed by the building secretary “For Deposit Only.”
Individual deposits consisting of $300 in cash or coin (does not include total of checks)
WILL NOT be sent via transportation or inter-office district mail but will be delivered
to the depository institution by the building principal or designee.
Receipts will be taken intact directly to the depository institution for deposit in the
applicable checking account.
Deposits shall be made the same day as received, if possible and recorded in the
accounting system. Use the daily tabulation of receipts form.
A listing from the accounting system shall be compared to the bank statement entries,
thus assuring that all monies are deposited.
Deposit Controls cont…
Deposits - Daily tabulation of receipts form.
(Daily Tabulation of Receipts)
This form should be used in conjunction with DI-AP to tabulate the monies collected
each day by teachers and sponsors of student activities.
Student Activity Involving Receipt of Money:
Name of Student
Page ____ of _____
Checks $ ________ Currency $ ________ Coin $ _________
Total Received $__________
School Name _____________________________________
Teacher’s/Sponsor’s Signature __________________________
DATE _______________
Secretary Signature ___________________________________
Note: The reader is encouraged to review policies and/or procedures for related information in this administrative area.
A specific fundraising example we all can relate to?
MVR-III Book Fair’s
Accounting & Reporting Procedures
Prior to Book Fair
When the book fair is approved, but not less than 3 weeks prior to the fundraiser start date,
building/program will submit a purchase requisition for estimated amount of payment to the
book fair vendor, including in comments “do not send to vendor”. Also send a copy of any
contract or agreement along with the supporting “Fundraising Approval Form” form to accounts
Request Starter Change
Check book fair tool kit for suggested number of registers and the amount recommended per
register, not to exceed $75 per register.
If change is needed, contact business office bookkeeper for requisition requirements/GL
Submit a requisition not less than three weeks prior to the book fair start date, indicating
sales start date and denominations needed.
At the close of the fair, additional starter change must be re-deposited into the same GL code
used to submit the requisition.
Book Fair Accounting
& Reporting Procedures
During Book Fair
Clear registers before fair begins.
Establish a cash drawer for each register. Count to verify starter amount of starter change
received prior to opening fair each day/session.
Lock cash drawer per device procedures. Do not leave cash drawer open unattended. Room
should be locked should book fair manager/volunteers need to leave the room for a brief
Follow company procedures for processing voids. Maintain a manual list of all voids.
Maintain a list of all register restarts, noting date and time.
Accept payment for amount of sale only, ie do not accept payment for more than purchase
and do not cash checks. Money orders and cashier checks are processed as checks.
Book Fair Accounting
& Reporting Procedures
Daily Close of Book Fair
Run the following book fair reports from each register: Daily financial summary & sales detailed
Count and set aside amount of daily starter change in denominations needed for the next
day/session. Count all funds in the drawer…checks, currency and coin…and complete form DIAF1, attaching a copy of each register’s financial summary. Totals for each type of collection
along with total submitted are acceptable on form DI-AF1.
Balance cash drawer at close of each day/session. Best practice is to have two persons count and
verify the sales deposit and the starter change.
Turn in all sales money collected to office daily for deposit, as directed by building/program
administrator, along with completed form DI-AF1 and attached daily sales report.
Turn in starter change for safekeeping until the following day/session.
Record daily sales on the sales report each day.
Book Fair Accounting
& Reporting Procedures
Close of Fair
Re-deposit starter change as applicable, using the GL code from the requisition request.
Total daily sales report.
Run total fair financial summary report from each register. Attach to daily sales report.
Submit daily sales report and financial report to the building administrator.
What about Sales Tax?
Public Schools are Exempt
from State and Local Sales and Use Tax
“All sales made by or to religious and charitable organizations and
institutions in their religious, charitable, or educational functions
and activities and all sales made by or to all elementary and
secondary schools operated at public expense in their educational
functions and activities; . . .”
§144.030.2(20), RSMo.
Sales Tax Example
12 CSR 10-103.210
(G) A parent teacher organization (PTO) agrees with
a candy company to sell candy as a fundraiser for a
public elementary school. The PTO buys the candy
from the company and has the right to return any
unsold candy over the minimum agreed amount. The
sale is not subject to tax because the PTO is the
seller of the candy and its sales are exempt from
tax as sales by a public elementary school.
Sales Tax Example
12 CSR 10-103.210
(H) A parent teacher organization agrees with a
wrapping paper company to sell wrapping paper as
a fundraiser for a public elementary school. The
PTO takes orders for the wrapping paper and
forwards the orders to the company. The PTO never
takes title to the wrapping paper—it merely takes
the orders and delivers the paper. The company
must collect and remit tax because the company is
the seller of the wrapping paper.
Do You Collect Sales Tax
at the Book Fair?
Unless the district buys the books and resells
them – yes!
Problem: Have you been?
Scholastic Agreement: “Collect sales tax as
required by your state law as purchases of books
and educational material from SBF are for
Concern: District is on the hook for the sales tax
Bottom line???
review, review, review, REVISION!!!
Review current Board policies for guidance and support.
Review current procedures.
Review for changes, internal and external.
Revision is imminent!
Education is constantly changing!
Use your resources.
Use your peers!
Slides and all supporting policy, procedure and forms will be posted on
Susan Goldammer
Diane Winters
Senior Director,
Employment and Labor
Financial Analyst
Missouri School Boards'
2100 I-70 Dr SW, Columbia,
MO 65203
p: 573-445-9920, ext. 355
| c: 573-489-0338
[email protected]
Meramec Valley R-III School District
126 N Payne Street, Pacific, MO 63069
(636)271-1400 ext. 1007
[email protected]

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