Activity Fund

Account Sponsor Training

Student Activity FundsStudent activity funds belong

to the students.

These funds are generated through fundraising activities, donations, fees and student vending machine commissions.

These funds are used to promote the general welfare of the school and the educational development and morale of all students.

Student Activity FundsMoney raised must be expended to

benefit the students currently enrolled.

Money raised follows the student (i.e. Money left over from a first grade fundraiser at the end of the year will benefit second grade students the following school year. Money leftover from a graduating class will go to the General Student Account.)

Account Sponsor Expectations

Read and Sign Sponsor Responsibility Agreement

Properly receipt all money received Make daily deposits to the Bookkeeper

as money is receivedProperly Document FundraisersProduce Sponsor bi-monthly reportMaintain Sponsor LedgerVerify your AL account balance monthly

Read and Sign Sponsor Responsibility Agreement

All of these should be on file in the bookkeepers office.

INTERNAL AUDIT WILL CHECK THESE!!

Sponsor Responsibility Agreement

• Sponsor Must Read and Sign Sponsor Responsibility Agreement

• This agreement is kept on file as long as you remain a sponsor

• Available online on the aisdweb.

Properly receipt all money received.

It is best to receipt money as soon as you receive it.

Reviewing the Money Trail1. Students Turn in Money to sponsor

2. Sponsor receipts each student

3. Sponsor combines students funds and turns in the sponsor deposit slip with funds intact to bookkeeper.

4. Bookkeeper receives sponsor deposit and if she is unable to count the money immediately, signs the ‘Received By’ line on the Sponsor Deposit slip and gives the pink copy to the sponsor. When able to count the money immediately, she will then verify the deposit, sign the ‘Counted By’ line, write the receipt, attach receipt to yellow copy and give back to the sponsor

Document Money Received

When Collecting Money from a student:◦If the amount collected is $10 or

more use your receipt book◦If the amount collected is less than

$10 use a Cash Receipts Tally sheetImportant : Keep all money under lock and key!!!

Cash Receipt Books

Cash receipts tally sheet

• Used to record the receipt of amounts less than $10

• Available on the aisdweb under Finance

Make daily deposits to the Bookkeeper as money is received

Never send money to bookkeeper by a student.

Never leave money overnight in your office or room.

Never take money home to count.

Sponsor Deposit Slip

Teacher Money Envelope

NotesDo not use money receipted to cash

personal checks – Deposits are made intact!!!

Do not combine your deposits with other Activity account/sponsors.

Deposit money with the bookkeeper yourself. When activity funds are lost due to carelessness, theft, or fraud, the sponsor will be held personally responsible and will be required to reimburse the account.

Fundraisers An Application for Fundraiser must be completed in

full by the sponsor before the fundraiser is held and submitted to the principal for authorization.

All cash received during a fundraiser must be turned into the bookkeeper daily intact (sponsor must turn in money in the form it was received, e.g. pennies for pennies) along with a Sponsor Deposit Slip. All cash received during a Fundraiser must be deposited.

Sales Summary Reports must be completed by the sponsor and turned into bookkeeper for principal’s signature within 3 weeks of the completion of the fundraiser.

Fundraisers can be taxable or non-taxable. Sale Tax and Use Certificates can be found in the bookkeepers office.

Profitability?? Research profitability of your

fundraiser before submitting your Application for Fundraiser

A Fundraiser should earn at least 40% to 50% profit

• New Fundraiser – Sales Summary Form

One-Day Tax-Free SalesCampus organizations are

allowed to have two (2) one-day tax free sales per calendar year (January 1 to December 31)

Either all sales must occur on one day or all of the orders must be delivered on one day (e.g. yearbooks)

Must be designated on Application for Fundraiser

DisbursementsPurchase Approval / Request for

Check◦Principal has the option to approve or disapprove any Purchase Approval Request

◦The PAR must always be completed (with Principal’s signature) before a check is written.

◦Kept on File by month◦The Original Invoice is to filed with the Purchase Approval Request

Purchase approval request

Produce Sponsor Bi-monthly Report

This document is very important. It says bi-monthly but it needs to be balanced every month. The bookkeeper and the sponsor need only to sign off on it bi-monthly.

It is suggested that you balance monthly and sign off monthly with your larger accounts or accounts with lots of activity.

Sponsor Bi-monthly Report

This is a mandatory document providing checks and balances between the sponsor and the bookkeeper

Report should be completed even if the account has no activity

Report should be completed in ink.

Each submission should be signed and dated

Also…

It is the sponsor's responsibility to inform the principal wheneverthe bookkeeper fails to:

Promptly sign and return the sponsor deposit slip

Distribute bi-monthly reportsCorrect any balance discrepancies

Maintain Sponsor LedgerUse Sponsor Ledger to record all

activity fund transactionsIt is very important to maintain a

running balance It is the sponsors responsibility to

maintain the sponsor ledger. The bookkeeper should never create or maintain the ledger for the sponsor

Maintain Sponsor Ledger

• Available Online

Activity Ledger (AL) Account Balance

Your AL balance must always be positive

Verify your AL account balance with the Bookkeeper

Keeping your ledger up to date will assist you in knowing your account balance

Thank you for your attention.