I. Fundraising
(1) Advance approval of the principal and the ASB council shall be obtained by student organizations wishing to collect funds for any purpose.
(2) Door to door solicitation by students is not permitted.
(3) Lotteries and raffles are not permitted.
(4) Fundraising records should be maintained by the club advisor and should be available for audit at any time by the district auditor. Fundraising records should have the following information:
a. Name of all students that participated in the fundraising
b. Total amount turned in by each student
c. Total amount deposited to the club account
d. Total amount owed by each student
e. List of items returned to the vendor
f. List of items given away
(5) At the conclusion of the fundraising, a revenue potential analysis must be completed showing the projected revenue and expenses versus the actual revenue and expenses of the fund-raising event. Any variances between actual and projected revenues should be explained in writing by the club/class advisor. A copy of the revenue potential analysis with explanation of the variances must be on file in the financial office. ***See attached sample form.
II. Receipts/Collections
(1) All collections should be deposited to the financial office daily.
(2) The club should prepare a deposit slip in duplicate for every collection deposited in the financial office. The original goes to the financial office and the duplicate should be kept on file by the club. Deposit slip should have the following information:
a. Club’s name
b. Date of the deposit
c. Source of the deposits. For example: Candy sales, gift-wrap, catalog sales, etc.
d. Denominations (details of currency, coins, total amount of checks)
e. Depositor’s and Financial Clerk’s or receiver’s name and signature attesting to two people having processed the deposit represented on the deposit slip. ***See attached sample form.
(3) Obtain a receipt from the financial clerk for every deposit made and attach the receipt to the copy of the deposit slip retained by the club.
(4) Cash collected by the student body shall not be used for payments of any sort; payment shall be by ASB check only.
(5) Cash or checks collected from fundraising, or any other school-related activity MUST NOT be deposited into personal checking accounts. All funds must be promptly deposited to the financial office.
(6) Whenever money changes hands from one person to another, a receipt should be exchanged.
III. Disbursements
(1) Club expenditures/purchases must have approval of club officers, and such approval should be recorded in the club meeting minutes and attached to the ASB requisition.
(2) ASB expenses/purchases must be supported by original vendor’s invoice or receipt signed by the person who received the items.
(3) Student Body Requisition (a serially-numbered, original internal control form) must be completed by originator of the request as authorization for drawing a student body check, and should have approval of the ASB advisor or sponsor, representative of the student body organization, and the principal.
IV. MONTHLY CLUB ACCOUNT RECONCILIATION
(1) The school club maintains financial records such as cash count forms, receipts (Blue Bear, EGRY) and disbursements (ASB Requisition
(2) The club advisor obtains from the financial office a detailed monthly transaction report (general ledger) for the club that shows the beginning and ending balances, deposits, checks, and journal entries.
(3)The club advisor compares their records of the deposits, payments, and transfer of funds with the club’s general ledger provided by the financial office to verify that deposits, payments, and transfer of funds are correctly accounted.
(4) Discrepancies in the deposits, disbursements, and transfer of funds areinvestigated and corrected as soon as possible.
PROHIBITED USE OF STUDENT BODY FUNDS
(a) Medicine
(b) Items for personal use)
(c) Items sold by district employee or employee’s immediate family
(d) Purchases or any type of expenditure for faculty
(e) Supplies and equipment for instructional use
(f) Purchases in excess of the balance of the student body account
(g) Gift Cards