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Account Sponsor Training

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Presentation on theme: "Account Sponsor Training"— Presentation transcript:

1 Account Sponsor Training
Activity Fund Account Sponsor Training

2 Student Activity Funds
Student activity funds belong to the students and staff. These funds are generated through fundraising activities, donations, fees and vending machine commissions. The Funds are used to finance activities that supplement the educational curriculum of the district. 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.)

3 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 Periodically verify your AL account balance

4 Read and Sign Sponsor Responsibility Agreement

5 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

6 Properly receipt all money received

7 Reviewing the Money Trail
Students Turn in Money to sponsor Sponsor receipts each student Sponsor combines students funds and turns in the sponsor deposit slip with funds intact to bookkeeper. 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

8 Document Money Received
When Collecting Money from a student: If the amount collected is greater than $5 use your receipt book If the amount collected is less than $5 use a Cash Receipts Tally sheet Important : Keep all money under lock and key!!!

9 Cash Receipt Books

10 Cash receipts tally sheet
Used to record the receipt of amounts < $5 Available online

11 Make daily deposits to the Bookkeeper as money is received

12 Sponsor Deposit Slip

13 Teacher Money Envelope

14 Notes Do not use money receipted to cash personal checks – Deposits are made intact!!! Do not combine your deposits with other sponsors Deposit money with the bookkeeper yourself. You are responsible for the safeguarding of funds.

15 Properly Document Fundraisers

16 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 2 weeks of the completion of the fundraiser. Fundraisers can be taxable or non-taxable. Page 13 Give out sponsor handouts Keep binder on fundraisers Bookkeepers must keep on top of fundraising applications and sales summary reports. Report problems to the principal.

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




21 One-Day Tax-Free Sales
Campus 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

22 Disbursements Purchase Approval / Request for Check
Principal has the option to approve or disapprove any Purchase Approval Request The PAR must always be completed before a check is written. Kept on File by month The Original Invoice is to filed with the Purchase Approval Request Page 10 Give out check handout Purchase Approvals filed by the month Must have vendor # before it can be posted. Must know balance in account.

23 Purchase approval request

24 Produce Sponsor bi-monthly report

25 Sponsor Bi-monthly Report
This is mandatory document providing checks and balances between the sponsor and the bookkeeper Report should be completed even if the account has no activity Each submission should be signed and dated


27 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

28 Maintain Sponsor Ledger

29 Maintain Sponsor Ledger
Use Sponsor Ledger to record all activity fund transactions It is very important to maintain a running balance

30 Maintain Sponsor Ledger
Available Online

31 Periodically verify your AL account balance

32 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


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