Account Sponsor Training

Student Activity Funds Student 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 Funds Money 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 received Properly Document Fundraisers Produce Sponsor bi-monthly report Maintain Sponsor Ledger Verify your AL account balance monthly

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. A new agreement should be submitted annually by the Sponsor and kept on file by the bookkeeper. Available online on the aisdweb.

It is best to receipt money as soon as you receive it. Turn it in to your campus bookkeeper daily in tact.

Reviewing the Money Trail 1. 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 $15 or more use your receipt book. If the amount collected is less than $15 use a Cash Receipts Tally Sheet form which is in the financial services online library OR a Student Roster. If the Sponsor uses a Student Roster, they must include the amount received next to each student’s name. Important : Keep all money under lock and key and turn in daily in the form it was received.

Cash Receipt Books NOTE: The Sponsor must fill out the method of payment, i.e., cash, check or money order. This will be an audit finding if left blank.

Cash receipts tally sheet Used to record the receipt of amounts less than $15 or a student roster can be used noting the amount received next to each student’s name. The Cash Receipts Tally Sheet form is available in the Financial Services online library.

Never send money to bookkeeper by a student. Never leave money overnight in your office or room. Never take money home to count. Repayment of a Non-Sufficient Funds (NSF) check must be made on a separate deposit slip and given to the bookkeeper with the notation that it is an “NSF repayment from (name)”

Sponsor Deposit Slip Note: The Sponsor must write their “Account Name” on each check received. For example…. “Band”, “1 st Grade” or “Yearbook” on the memo line.

Teacher Money Envelope

Notes Do 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 or product purchased with 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 for such loss.

Fundraisers The Fund Raiser/Sales Activity Application form 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 submitted to 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 submitted to the bookkeeper for principal’s signature within THREE weeks of the completion of the fundraiser. Fundraisers can be taxable or non-taxable. Sales Tax and Use Certificates can be found in the bookkeepers office.

IMPORTANT – Profitability?? Research profitability of your fundraiser before submitting your Application for Fundraiser A Fundraiser should earn at least 40% to 50% profit

Fundraiser/Sales Application and Sales Summary Form – Sales summary must be completed within 3 weeks of the end of the fundraiser or sale by the Sponsor and submitted for the Principal or Director’s approval.

One-Day Tax-Free Sales Campus organizations are allowed to have two (2) 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 by the Sponsor on the Fund Raiser/Sales Activity Application form

Disbursements Purchase Approval / Request for Check ◦ ALL Purchases require Prior Approval, in writing from the Principal, before the purchase is made. This includes activity fund purchases made with the P-Card. ◦ Principal has the option to approve or disapprove any Purchase Approval Request ◦ A PAR must always be completed with corresponding receipt or invoice attached (with Principal’s signature) before a check will be written.

Purchase Approval Request

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 and any changes must be marked through and initialed. DO NOT USE WHITE-OUT! Each submission should be signed and dated

Also… It is the sponsor's responsibility to inform the principal whenever the bookkeeper fails to: Promptly sign and return the sponsor deposit slip Distribute bi-monthly reports Correct any balance discrepancies

Maintain Sponsor Ledger Use Sponsor Ledger to record all activity fund transactions It 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 on the aisdweb under the Activity Fund online library

Activity Ledger (AL) Account Balance Your AL balance must always be positive and a check will not be written that will cause your account to become negative Verify your AL account balance with the Bookkeeper Keeping your ledger up to date will assist you in knowing your account balance