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Activity Fund Procedures 2018-2019. Presented by: Claudia Garza, Staff Accountant II. F unds. Roles and Responsibilities. Cash Handling. Collections. DO. DON’T. Place money in your purse or wallet Take money home or lock in a classroom desk/cabinet
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Activity Fund Procedures2018-2019 Presented by: Claudia Garza, Staff Accountant II
Collections DO DON’T Place money in your purse or wallet Take money home or lock in a classroom desk/cabinet Deposit activity money in a personal bank account Accept postdated checks from any source Campus mail cash or checks • Deposit money on a daily basis • Always lock money in the Campus safe • Issue a receipt every time you collect money • Receipt (prepared in triplicate) • Tabulation of monies form (less than $10) • Order form • Complete forms in their entirety “Employees are liable for any money lost/stolen if not safeguarded in campus safe ”
Library Collections DO’s DON’T Hand deliver cash to another librarian for lost book fees Campus mail lost book fees Transport cash to another campus Keep money in drawers, cabinets or wallets • Collect moneys from students for lost books and fines • Issue a receipt to the student and provide copy of the receipt to bookkeeper/secretary • Turn in money to campus bookkeeper/secretary on a daily basis • Notify campus bookkeeper/secretary that funds collected belong to another campus. Campus bookkeeper/secretary will submit an internal transfer to Accounting to transfer funds to appropriate campus
Example on Receipting RECEIPT REQUIRED Teacher Student RECEIPT REQUIRED Teacher Secretary/Bookkeeper “A receipt should always move with the money”
Receipts • All pre-numbered receipts must include: • Date • Amount • Issuer • Activity fund club • Description – purpose of which the money was received • Signature of the party receiving the money PR Account “All monies received must be acknowledged by immediately preparing a receipt”
Receipts • Receipts are not to be pre-signed or pre-dated. • Under no circumstance must a pre-numbered receipt be altered. • If an error occurs, void the receipt and reissue. • Order form can be used in lieu of a receipt: • Name • Amount • Description • Signature of the person receiving the money • Scanned as part as deposit documentation
Tabulation Sheet (AF-4) • Tabulation of Monies Collected (AF-4) can be used in lieu of a receipt for collections less than $10. • Form must be completed entirely Only for collections of $10 or less
Cash Distribution Form • Form AF-1 must be prepared for deposits and is used for tabulating cash and/or checks received • Two people must count the money and sign the form • Prepared in triplicate • White - Club File • Yellow - Sent to the bank • Pink - Kept by sponsor
Deposit Slips • Person collecting is responsible for preparing deposit slip (Club Sponsor or Secretary/Bookkeeper). • Deposit slips are prepared in triplicate • White - Sent to the bank • Yellow - Sent to the bank • Pink - Kept by Club Sponsor • Deposit slip must include: • Date • Amount • Currency and Coins • Listing of check by surname or check number • Notation indicating whether it’s a taxable or tax free sale Tax-Free Day Tax-Free day notation required
Post Deposit in SunGard • Once the validated deposit slip is returned from the bank, the Secretary can post the deposit in SunGard and enter the budget amendment • Cash receipts must be posted in SunGard on a daily basis • Scan the following deposit documentation: • Direct Cash Form (AF-13) • AF-1 (white copy) • Validated deposit slip (yellow copy) • Receipts issued to payee (yellow copy) • Receipt issued to sponsor (yellow copy and only if applicable) CRs must be posted on a daily basis
Fundraising DO DON’T Order supplies without an approved fundraising form and/or purchase order Spend any of the collections prior to depositing funds Have raffle/bingo/loteria type fundraisers Have door to door sales • Make sure that all fundraisers are approved prior to the event (AF-2) • Deposit money on a daily basis • Issue a receipt every time you collect money • Make sure that Revenues and Expenses Form (AF-3) is completed after the event • Indicate if it is a “tax-free” fundraiser on form “Employees are liable for any money lost/stolen if not safeguarded in campus safe ”
Charitable Drives DO DON’T Accept checks payable to McAllen ISD Place money in your purse or wallet Take money home or lock in a classroom desk/cabinet Deposit activity money in personal bank account Accept postdated checks from any source • Complete all fundraising forms in their entirety. Prior approval is required. • Deposit money on a daily basis • Always lock money in the campus safe • Make checks collected payable to the charity • Issue a receipt every time you collect money • Receipt (prepared in triplicate) • Tabulation of monies form (less than $10) • Order form “Employees are liable for any money lost/stolen if not safeguarded in campus safe ”
Common Audit Findings • Fundraiser application forms (AF-2, AF-3) are incomplete • Missing information, approvals and signatures • Money is not being deposited on a daily basis • Receipts are not being issued when money is collected • Lack of dual signature on when counting • AF-1 form • A GL 90 must be remitted and signed by the club sponsor on a monthly basis • Reconcile sponsor’s and bookkeeper’s records • Receipts are altered or incomplete
Raffles • Attorney General opinion JM-1176 ruled that independent school districts are not qualified to hold charitable raffles. • An unauthorized raffle is considered gambling under the Tax Penal Code - Class C Misdemeanor. • Board Policy – CDC Legal: https://www.texasattorneygeneral.gov/opinions/opinions/47mattox/op/1990/pdf/jm1176.pdf
Disbursements DO Don't Order supplies or services without a PO Order from non-approved vendors Wait until the last minute to get a PO and check • Make sure students vote and approve all purchases (8xx funds) • Make sure student minutes are part of payment documentation (8xx funds) • Be very descriptive on check request and PO • Plan accordingly • Check run every 2 weeks
2018-2019 School Calendar • Days in yellow – Last day to submit all back up documentation to Accounting for payment • Days in green – check issuance day • Note: Your campus bookkeeper might require sponsors to submit the PO request a week before the AP check run deadline to be able to review the request and/or proceesa budget amendment.
Gift Cards DO DON’T Use campus activity (9xx) and student activity (8xx) funds to purchase gift cards that will be issued to staff. • Complete a donation form (AF-6) when a gift card is given to the campus • Keep gift cards safeguarded in the campus safe • Complete gift card register form (AF-18) • Pre-approval from Principal • Sign and date form • Return gift card and receipts for all purchases to campus bookkeeper • Note: Gift cards in any amount are taxable to the employee. • Note: All gift cards purchased out of SAF (8xx) must be from a department store and cannot be a visa, master card or any other type of cash equivalent.
Gift Card Register Alvarez Elementary $50.00 John Smith Principal Signature Instructional Supplies HEB $20.00 $30.00 $25.00
Taxable vs. Non-taxable TAXABLE NON-TAXABLE Admission Dances, musical performances, banquets, prom, tournament fees Food items sold during fundraisers Field trips Book fair fundraiser Commission sales • Shirts fundraiser • Uniforms (any type) • PE, dance team, cheer, etc. • Flowers/Plants fundraiser • Roses, carnations, poinsettias • Spirit items sold • Stationary and supplies sold • “Texas Sales Tax Statutes impose tax on the sale, lease or rental of tangible personal property”
Sales Taxes DO DON’T Give away dollars to the State by not taking advantage of the tax free days Allow your PTA/PTO and Booster to use the District’s tax exempt employer identification number (EIN) Plan a taxable fundraiser without considering the sales taxes • Pay sales taxes on supplies sold • Determine if you are a sponsor of a: • Campus activity fund 9XX • Student activity fund 8XX • Take two (2) tax-free day sales per student organization per year (8xx only) • Note on the deposit slip it is a tax free deposit • Keep a date log of students clubs taking the tax free day
