Student Fund Raising Activity Procedures - 7146P

 PROCEDURES PRIOR TO SALE

The student body and the school principal or assistant principal(s) must approve all fundraising. The fundraiser must be a type approved by the School Board.

A timetable shall be established for the starting and ending dates of the fundraiser.

A selling price shall be established for the merchandise and anticipated revenue for the fundraiser should be projected.

A purchase order shall be issued to the vendor.

• A written agreement should be made with the vendor to ensure that unsold merchandise can be returned for credit.

• Consideration should be given to whether or not bid laws apply.

At the time merchandise is received from the vendor it shall be counted, signed for, and secured until it is checked out to the students.

• The quantity received shall be checked against the quantity billed from the vendor.

The students shall be informed that they are responsible for all merchandise checked out to them. A parent approval letter is recommended.

• Students who do not return the unsold merchandise or cash received from sale of the merchandise will be assessed a fine. This fine should be equivalent to the retail value of the merchandise.

PROCEDURES DURING THE SALE

All merchandise should be stored in a secure area throughout the sale. The club advisor or designee should be responsible for securing the merchandise and for checking all merchandise in and out.

Individual student record sheets shall be maintained.

• The students must sign their record sheets each time he/she receives merchandise.
• The students must sign their record sheets each time he/she turns in money for merchandise sold.
• The student should not be allowed to check out any additional merchandise if they have not successfully reconciled their previous sales money.

The advisor in charge of the fundraiser is not to keep money in the classroom or at home. The money is to be turned into the ASB bookkeeper or secretary each day for storage in the school safe. The ASB bookkeeper or secretary will issue a receipt to the advisor each time the money is turned in.

All invoices received by the activity advisor shall be reconciled to the file copy purchase order(s) and then given to the ASB bookkeeper or secretary for payment.

PROCEDURES AFTER THE SALE

All student record sheets are to be verified each time the student turns in money or merchandise and for accuracy after the fundraiser has ended.

• If students have not turned in merchandise, prepare a schedule listing the names of the students, the quantity, and the amount due from each student.
• Submit this list of students to the ASB bookkeeper or secretary for fine assessment and collection.

All unsold merchandise is to be counted and returned to the vendor for credit or sold to the student store for resale.

 A file is to be kept on each fund raising activity. The file should include:

• Copies of all vendor invoices, district purchase order(s), receipts, student record sheets and any other backup documents.
• A record of the physical inventory on the unsold merchandise.
• A copy of the vendor’s credit memo for the merchandise returned.
• A copy of the ASB interactivity transfer for the unsold merchandise transferred to the student store.
• A final reconciliation of the fundraiser must be completed.
• Total revenue less the value of merchandise not sold should be compared to projected revenue and amount deposited with the district.
• Losses of more than $50.00, or 10%, need to be reported to the Business Office immediately.

Date: 10/22/01