Guidelines for Effective Fundraising Events and Revenue Management
This document outlines essential procedures for planning, executing, and reconciling fundraising events within the University of Arkansas framework. Key actions include submitting purchase requests for necessary materials, completing inventory reservations, and managing cash handling effectively to ensure accountability. Fundraising policies emphasize the importance of documentation, adherence to sales procedures, and timely return of all funds and inventory. Follow these guidelines to facilitate successful events and maintain financial integrity while complying with university regulations.
Guidelines for Effective Fundraising Events and Revenue Management
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Presentation Transcript
RAISING FUNDS REVENUE INCOME EVENTS & FUNDRAISING
Revenue Income Events BUSINESS PLAN
PRIOR TO RIE • FOUR weeks-submit PURCHASE REQUEST if any merchandise/material is needed for fundraiser • Five business days submit: • RIE REQUEST FORM • BUSINESS PLAN • INVENTORY RESERVATION & LOG • LAST business day prior to fundraiser pick up: • Cash box • Receipt book • Till fund • Inventory • Tickets
DURING THE RIE • Complete a RECONCILIATION FORM • Update the INVENTORY REQUEST AND LOG • Follow the INVENTORY, CASH HANDLING AND SALES POLICIES
AFTER THE RIE • Complete the RESULTS FORM • Make an appointment with Administration and return within ONE business day of the RIE: • Cash box • Receipt book • Till fund • Unsold inventory items and tickets • Forms (Reconciliation Form, Inventory Reservation and Log, Results Form)
INVENTORY • Ship ordered merchandise to UREC • University Recreation-Club Sports 155 N. Stadium Drive HPER 225 Fayetteville, AR 72701 • Administration will complete inventory with UREC system • Pick up merchandise and/or tickets ONE business day prior to RIE and return items ONE business day after fundraiser
CASH HANDLING • Keep RIE monies separate from personal monies • Inventory/Fund Manager-one at a time • DOCUMENT…DOCUMENT…DOCUMENT all exchanges of monies • Use a locked cash drawer
SALES PROCEDURES-cash • Accept cash ONLY when an official receipt can be produced • Count coins if packaged/strapped • Reconcile monies at the end of each shift and DOCUMENT on RECONCILIATION FORM • Make sure inventory matches cash on hand • Return all monies and till fund ONE business day after completion of fundraiser
SALES PROCEDURES-check • Make payment to the University of Arkansas with club name in check memo line • Endorse checks immediately with provided Club Sports stamp • Make sure each check has the following information: • Customer’s name • Local address • Telephone number • Routing number • Check number • Student, employee, or other identification number • Verify identity of each check with photo-id • Never accept a post-dated check, IOU’s, or third party checks
SALES PROCEDURES-receipting • Receipts must be pre-numbered and issued in sequential order • Must contain the following information: • Date issued • Receipting cashier (Inventory/Fund Manager) • Name of payer • Net amount received • Sufficient info to identify purpose of payment • Form of payment (check or cash) • Give top copy to payer, retain bottom copy • Never alter receipts-always VOID them • Never issue a receipt for a zero or negative net amount
SALES PROCEDURES-ticketing • Tickets may be used in lieu of receipt for admission • Complete both portions of ticket. • Retain kept portion of ticket and return to Administration
Differences between events • Fundraising Event • Cannot give any goods/services in exchange for money • Checks must be written to “University of Arkansas Foundation” • Inventory Reservations and Give-Away Log does not need to be completed if no items will be given away during the event
remember • All money, receipts, inventory, and forms MUST be returned within one business day of the event. • All events must be approved first before any type of advertising can begin. • Plan ahead for events and give yourself enough time to organize the event and purchase any needed supplies/merchandise.
