fund-raiser vs. donation work-flow outside 3 rd parties common fund-raisers contracts risk...
TRANSCRIPT
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Fund-Raising 101
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What we will coverFund-Raiser vs.
DonationWork-flowOutside 3rd PartiesCommon Fund-RaisersContractsRisk ManagementResponsibilitiesAccountsChange FundsCompliance
ReceiptsDepositsFormsDisbursementsRaffles
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Fund-RaiserRaise money for specific purpose through sales of items,
services, and the like.Funds received during a fund-raiser above the
requested amount are considered part of the fund-raiserExample: French Club does a carwash for $5/car and
someone gives $20. This is part of the Fund-raiserExample: School Pictures
DonationMoney given to a group or club not associated with
fund-raisingExample: Monetary donation is made to XHS French Club by
a parent for suppliesWal-Mart Check
Fund-Raiser vs. Donation
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Sponsor/Teacher fills out Fund-raiser request form
Submitted to Principal for ApprovalCopy of approved form is turned into
Bookkeeper/Accountant Bookkeeper/Accountant puts on Campus
Activity CalendarEnsure collection of fundsExtra pickups for depositsCampus Planning
Fund-Raiser Workflow
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Pre-Order Sales From VendorResale without pre-ordersPercentage of SalesTicketed EventsInventory BasedUntrackable
Common Allowable Fund-Raisers
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Catalog Sales-Yankee Candle, Cookie DoughBook FairsDo NOT enter a requisition
District is acting as “middle-man” and not purchasing the items
Payment processed via Check RequestSubmit to Campus Support Accountant
Completed Check Request Form (4-B) Expense account needs to have funds available
Completed Fund-Raiser Permission Form (7-A)Invoice
CSA will enter Budget Amendment to decrease the expense and payment will be made out of the Revenue accountBudget Manager approval
Pre-Sale Orders
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Candy Bars, PopcornEnter a requisition
District is purchasing the items in advance to sell
Does not matter if items can be returned or notReceiving records entered once items have
been physically received (prior to sales)Invoice sent to AP to process paymentPaid on PO out of expense account
Resale without Pre-Orders
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Percentage of SalesSpirit NightsSchool PicturesBox TopsLocal Business Shopping Program
Target, Kroger, Randall’s
Ticketed EventsProm, Theatre
Inventory BasedConcession Stands, School Store, Carnation
SalesUntrackable
Car Wash, Ice Cream Social
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Humble ISD cannot facilitate a fund-raiser for a 3rd partyAmerican Heart AssociationAmerican Diabetes AssociationHumble ISD Education FoundationAmerican Cancer Society
Encourage help from PTA/PTO/Booster Clubs
Outside 3rd Parties
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ContractsChange effective 3/6/15
Contract entry for carnivals, fund-raisers, PTO/PTA/865 funded activities and services will no longer be required
InsuranceEmail [email protected]
CarnivalsFund-raisers
Selling FoodComing on Campus
PTO/PTA/Booster/865 funded
Contracts & Insurance
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Completing Fund-Raiser Request Form (Top Section)Verifying vendor is on approved Fund-raiser list from
PurchasingSpirit Night companies do NOT have to be approved
vendorsNew vendors can be added by contacting Sonia in
PurchasingObtain approval from Budget Manager; then submitted
to Bookkeeper/Accountant (Middle Portion)Submit funds collected daily with approved District FormCompleting Fund-Raiser Request Form (Bottom Portion)
Total sales equal total amounts depositedSubmitting Invoice/Packing Slips
Teacher/Sponsor Responsibilities
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Putting Fund-raiser on Campus Activity Calendar
Assisting Sponsor with determining if items being sold are taxable
Submitting information to RiskVerify Total Sales and expenses match the
revenue and disbursements posted to MUNISNotify teacher/sponsor if discrepancy
Process Payment
Bookkeeper/Accountant Responsibilities
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State Comptroller says…..“When a school, school group or student group
raises funds by acting as a sales representative, the group is not responsible for reporting and remitting sales and use tax.”Group is receiving commission from book fair, selling
candy, candles, etc.Vendor remits the tax
Allowed One (1) Tax Free Day a semesterDistrict, Campus, Club If participate in one, that is your tax-free dayCampus Support Accountant must be notified in
advance to put on district calendar.
Sales Tax
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Concession food sales for Fund-RaisersIf for a sporting event, items are taxable
Bakery ItemsUnless sold with plates and utensils
Magazine Subscriptions6 months or more
Car Washes
Non-Taxable
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Flower salesCarnations, Poinsettias, roses, arrangements
ProgramsMagazine subscriptions
Single issue or subscription of 6 months or lessSpirit Items
Decals/Bumper StickersT-Shirts
Greeting CardsCalendars
Taxable
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30GFGeneral fund
30FRFund-raisers
30PISchool Pictures
30BOBook Fair
30BXBox Tops for Education
Accounts
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Event SpecificBook Fair Inventory BasedTickets
$250/limitWill not be given for Untrackable Sales for Fund-
raisersEmail [email protected]
Subject “Change Fund” Indicate how much was ordered, date of event, type
of event and Campus or Student AccountRe-deposited within 7 days into 30CG account
Change Funds
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Compliance with rules and regulationsStudent Athletes may participate
Cannot accept prizes for raising most money when fund-raising efforts are limited to athletes only
UIL
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Individual Student AccountsNot AllowedMoney is raised and set aside to offset cost of a
particular item (i.e. student trip)Profits shall benefit the entire student bodyRefunds will not be issued if a student is
unable to attend
IRS
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Competitive FoodsSold during the school day that are not part of
the reimbursable meal and must meet required nutrition standards
The school day begins at midnight and ends 30 minutes after the official school day ends
No restrictions on the foods given away for birthday celebrations, field days, and classroom parties
Texas Department of Agriculture (TDA)
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USDA Smart Snack ApprovedDetermined by Grade Level
Elementary- nothing is allowedMiddle School- Not allowed during school dayHigh School- Not during meal periods where school
meals are served/consumedEx: “Chicken Littles”
Handout
Who can Sell Competitive Foods?
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Fund-raisers that include food items that do not meet the competitive food nutritional standards, and are intended to be consumed at a school, must be sold outside the school day. Example: After school concessions cannot be
sold until 30 minutes after dismissal
How Does This Effect Fund-Raisers?
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Must be done in accordance with Section 2-Receipts of the Centralized Activity Fund ManualTabulation Sheet can be done in lieu of receiptMust issue receipt if asked
Receipts
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Deposits should be turned in with an approved District Form to Bookkeeper/Accountant DailyTabulation Sheet (2-B)
Pre-Orders & ResaleTicketed Event Collections (7-E)Inventory Based Sales for Fund-Raisers (7-F)Untrackable Sales for Fund-raisers (7-G)Percentage of Sales (7-H)
Deposits & Forms
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Payments to the vendor for items sold should never be made in cash or from un-deposited fundsAll funds must be deposited
Campus GroupsThe principal or designee shall approve all
disbursementsAll funds raised by student organizations must be
expended for the benefit of the students. Student Groups
Funds collected shall be used only for purposes authorized by the organization or upon approval of the sponsor
Disbursements
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Defined as “awarding one or more prizes by chance at a single occasion among a pool or group of persons who have paid or promised a thing of value for a ticket that represents a chance to win a prize”
Not allowedHumble ISD is a special form of Government,
not a qualified non-profit organization
Raffles
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Questions?