ACTIVITY FUNDS PROCESSES AND PROCEDURES OCTOBER 16, 2013
COMMON CENTS • Teachers/sponsors are responsible for the safekeeping of funds until they are deposited with the activity funds bookkeeper. • Teachers/sponsors must keep the principal informed of all planned projects and activity dates (ensure dates are posted to school’s activity calendar). • Teachers/sponsors must maintain accurate records of all funds collected.
COMMON CENTS • Only official district cash receipts shall be used to receipt funds collected (A-747 receipts book must be obtained from the office). • Must issue an A-747 receipt: • Amounts $15.00 or more
• One is requested by student or parent
• All monies must be submitted to the principal or activity funds bookkeeper on the day collected (also complete and submit a Teacher/Sponsor Deposit Slip).
COMMON CENTS • All monies must be counted, totaled and submitted to the activity funds bookkeeper in the same form as collected. (Make certain you receive a computerized receipt from the activity funds bookkeeper at the time funds are submitted.) • Teachers/sponsors shall not take money home or keep it unsecured in classrooms, or other areas in the school after school hours. • Funds must not be deposited in an employee’s personal account.
COMMON CENTS • Funds collected shall not be used to cash personal checks, make cash purchases or make cash payments to vendors. • The Tabulation of Monies Collected from Students form must be used to record and reconcile/balance cash collected in advance from students and for small multiple collections less than $15.
COMMON CENTS • Teachers/sponsors must have the principal’s approval before making any purchase in the name of the school. • Must complete a Board of Control
Emergency Purchase and Check Request Form and submit the form to the principal (or designee) for approval.
COMMON CENTS A fundraiser is an activity involving participation of the student body or school-recognized student group undertaken for the purpose of generating funds for the school or a school sponsored student group, club or organization.
COMMON CENTS The district is not a “qualified nonprofit organization” for purposes of the Charitable Raffle Enabling Act and shall not sponsor or conduct raffles, i.e., award one or more prizes by chance at a single occasion among a pool or group of persons who have paid and are promised a thing of value for a ticket that represents a chance to win a prize.
COMMON CENTS • Board Policies FJ (Local and Regulation) address fundraising activities. • All fundraising projects must be approved by the principal and executive director prior to the beginning date of the activity. • Door-to-door sales or solicitations by students are prohibited.
COMMON CENTS • A “Fundraiser Permission and Financial Recap” form must be prepared if you will sponsor fundraising activities (sell items, dance, sock hop, etc.) to raise funds for Common Cents. • A “Student Activity Permission Form” must be prepare for all other collections from students such as donations, penny drives, etc.
FUNDRAISERS Fundraiser Forms • A “Fundraiser Permission and Financial Recap” form must be prepared for each fundraiser. • The financial recap section must be completed within 30 days of the last day of the fundraiser; not required for fundraisers conducted on commission basis. – It is the sponsor‘s responsibility to maintain and submit accurate records of goods and services invoiced, assigned, returned, and sold.
SALES TAX • Sales tax must be paid on all taxable items sold by any group or organization. • All non-food items sold by a school or school organization are subject to sales tax (the school or the organization must collect sales tax on item). • Each bona fide club and organization at the school may hold two one-day tax-free sales each calendar year (the tax-free sales date must noted on the fundraiser permission form).
CONTACTS Kim Merkson - 972-925-3865 Andria Minor - 972-925-3861 Lisa Tillman - 972-925-3807 Dietra Nickerson - 972-925-3870 Fairy Allen - 972-925-3882 The Sponsor’ Handbook, Activity Funds Manual and Activity Fund forms are available on the DISD Intranet website under Departments - Activity Funds - Financial Services.
