MUNDAY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT

ACTIVITY FUND MANUAL

SECTION 1        GENERAL INFORMATION

1.1       PURPOSE OF ACTIVITY FUNDS

The Activity Fund is designed to account for funds held by a school in a trustee capacity or as an agent for students, club organizations of the campus, teachers and the general administration of the school.  These funds are used to promote the general welfare of each school and the educational development and morale of all students.  The Activity Fund accounting function is delegated to each campus and must comply with the guidelines and procedures required by this manual.

1.2       RESPONSIBILITY FOR ACTIVITY FUNDS

The school principal is responsible for the proper collection, disbursement and control of all activity fund monies.  This responsibility includes:

A. Providing for the safekeeping of monies.

B. Proper accounting and administration of fund transactions.

C. Expenditure of funds in compliance with applicable state laws, and local board policy administrative guidelines.

D. Adequate training and supervision of all personnel designated by the principal to administer activity funds.

The principal is not responsible for funds collected, disbursed and controlled by parent or booster organizations.  These parent and booster organizations funds are not to be accounted for in the school’s Activity Fund.

1.3       AUDIT OF ACTIVITY FUNDS

The Activity Fund is audited annually by the District’s Independent Auditor.  In addition, an audit is to be performed whenever there is a change in principal or Activity Fund Coordinator.  The principal may request in writing a special audit if a situation or event warrants it.

1.4       RETENTION OF RECORDS

All records should be kept current and in good order for a period of fiscal year end + 3 years and available for audit at any time.

SECTION 2      BASIC RECORDS

2.1       ACTIVITY FUND CASH RECEIPTS

The Activity Fund Cash Receipts are the means of accurately recording cash received and provide support for each bank deposit.  For control purposes, there should be at least two people involved in the collecting and depositing of cash.  Therefore, all activity fund “fund raising activities” will have a sponsor plus another school employee to count any and all money received.

2.2       REQUEST FOR CHECK

Request for Check form is the authority for the issuance of an Activity Fund check.

2.3       PRE-NUMBERED CHECKS

Pre-numbered checks are used to disburse all funds from the Activity fund checking account.  Checks must be printed with the school Activity Fund name.  When ordering additional checks, new check numbers should begin with the number succeeding the last check number.

2.4       BANK DEPOSIT SLIPS

Deposit slips, once validated by the bank, serve as a record for the specific date that receipts were credited for the bank account.  Deposit slips are obtained from the bank as needed and must be printed with the school’s Activity Fund account name.

2.5       MONTHLY BANK STATEMENTS

The bank statement is the official bank record reflecting all transactions affecting the cash balance on deposit during the preceding month.  When properly reconciled, the statement serves as official support for the cash balance indicted in the Activity Fund records.  A bank statement should be received and reconciled for all accounts including checking and investments no later than 5 days after receipt from the bank.  The bank should be notified that the bank statement should be prepared on the end of month cycle for all activity fund accounts.

2.6       PREPARATION OF RECORDS

A.     All records must be completed in ink and/or printed from computer software.

B.     End of month reports for each activity account (i.e. FFA, FHA, Senior Class, etc.) with the details of all deposits and checks from the beginning of the school year to the end of the current month for that single activity shall be given to each sponsor no later than 5 days after the receipt of the bank statement for the previous month.

A comprehensive report of all activity accounts and the bank reconciliation for the previous month shall be prepared and distributed to 1.  the Campus Principal and 2.  the District Business Manager no later than 5 days after receipt of the bank statement for the previous month.

SECTION 3       BANKING PRACTICES AND PROCEDURES

3.1       BANK ACCOUNTS

A. Each school shall have only one bank checking account which shall be entitled “Munday CISD (High School) (Middle School) (Elementary School) Activity Fund.”  This account title must be imprinted on all Activity Fund checks and deposit slips.  All monies received will be deposited into this account, and all disbursements will be made by a check drawn on this account.

B. Only Activity Fund transactions may be directed through the Activity Fund bank account.  Transactions controlled by the lunchroom or by outside organizations such as the PTO or booster clubs, must be handled through these supporting groups’ own bank accounts.  Those supporting groups should use their own federal identification number with the bank accounts and Should Not use the federal identification number of the school district.

3.2       CHECK SIGNATURE

A. Each bank account shall have two authorized check signers, one of which must be the principal or another authorized person designated on the signature card.

B. Each check must be manually signed.

C. Under no circumstances shall checks be pre-signed.  No signatures shall be affixed until the check has been filled out in its entirety.

3.3       BANK RECONCILIATION

A. One of the most important aspects of activity fund management is the prompt reconciliation of the Activity Fund bank account.  It is the principal’s responsibility to see that the bank reconciliation is completed on time each month.

B. Upon receipt, the bank statement is reconciled to the check book and General Ledger.

SECTION 4     ISSUING RECEIPTS

4.1       GENERAL RECEIPTING PROCEDURES

A. All cash and check collections must be recorded (in triplicate) by the person receiving the money.

1.  Original (white) to person submitting the money

2.  Posting copy (yellow)

3.  Permanent copy (pink) retained in the receipt book.

B.  The receipt must be completed in its entirety, including:

1. Date, activity account name and amount.

2. The individual or firm submitting the money.  A receipt may not be issued to more than one person.

3.  An explanation of the purpose for which the money was received.

4.  The signature of the person receiving the money.  The signature must be manual; signature stamps are forbidden.

C. An actual cash count should be made by the person signing the receipt in the presence of the person turning in the money, whenever possible.

D. Post dated checks cannot be accepted from any source.

E. Under no circumstances shall a cash receipt be altered.  If an error occurs, VOID the original receipt and all duplicates and issue a new receipt.  The original of the voided receipt must be attached to the copies and retained for audit purposes.  

4.2       RECEPT OF MONEY BY PERSONS OTHER THAN THE CAMPUS SECRETARY/ACTIVITY FUND COORDINATOR

A. The Campus Secretary/Activity Fund Coordinator is responsible for maintaining an adequate supply of Tabulation of Monies Collected from Students Form.

B. A distribution record must be kept of all teachers, sponsors and other individuals approved by the principal to collect funds.

C. Money may be collected by an authorized individual other than the Campus Secretary/Activity Fund Coordinator (teachers, librarian, clerks, etc., but only as approved by the principal) for such items as books, student fees, fund raising activities, etc.  In such circumstances, the individual collecting the monies must account for the monies collected as follows:

1. Tabulation of Monies Collected from Students Form must be completed with all information provided.

2. Sponsors are not to take money home or keep money unsecured in classrooms after hours.  Large cash collections (i.e. Greater than $50.00) should be deposited with the Campus Secretary/Activity Fund Coordinator each day as funds are collected.

3. Collections shall be submitted to the Campus Secretary/Activity Fund Coordinator weekly or whenever the aggregate amount of such exceeds $50.00.

4. The original completed Tabulation of Monies Collected from Students Form shall be sent with monies collected to the Campus Secretary/Activity Fund Coordinator who will count the funds in the presence of the depositor and prepare an Activity Fund Cash Receipt once the deposit total is verified.  The Campus Secretary/Activity Fund Coordinator should also sign the Tabulation of Monies Collected from Students Form.

5. The Campus Secretary/Activity Fund Coordinator should keep on file for 5 years for audit purposes the original Tabulation of Monies Form.

6. Individual sponsors/collectors should keep verified copies of the Tabulation of Monies collected for 5 years for audit purposes.

SECTION 5       DEPOSIT OF FUNDS

5.1       GENERAL OPERATING PROCEDURES

A. Deposits must be made whenever cash collections exceed $100.

B. Deposits should always be made on Friday even though the cash on hand does not exceed the maximum allowable.  Un-deposited receipts at the close of the school week (normally Friday except in the case of holidays) should be kept at a minimum.

C.  All checks held for deposit shall be endorsed as follows:

“For Deposit Only”

“Munday CISD (High School) (Middle School) (Elementary School) Activity Fund”

“Account Number”

It is recommended that all checks be endorsed at the time they are receipted or accepted.

D. All cash receipts supporting cash deposits shall be deposited in numerical sequence.

E. Re-deposits (of returned checks) must be deposited separate from other funds collected.

F. All monies on hand at the end of the school year, including petty cash, should be deposited prior to closing the books for the year.

5.2       PROCEDURES FOR PREPARATION OF BANK DEPOSITS

A. A bank deposit slip shall be prepared in duplicate and shall include the following:

1. The date and amount of the deposit

2. The cash receipt number(s) issued that make up the deposit.

3. A listing of each check in the deposit (or a tape).

B. The original copy of the deposit slip is retained by the bank and returned with the monthly bank statement.  The duplicate copy of the deposit slip should be validated by the bank and returned at the time of the deposit to the school records.  The Campus Secretary/Activity Fund Coordinator should verify the validated amount.

C. The sum of the amounts of the supporting cash receipts must agree with the amount of the deposit slip.

5.3       CASHING OF CHECKS

A.  The practice of cashing personal and/or payroll checks is Not Allowed.

SECTION 6      RETURNED CHECKS AND REDEPOSITS

6.1       RETURNED CHECKS

Occasionally a check which had been previously deposited is returned by the bank for a variety of reasons.  A check may be returned for improper signature, insufficient funds, or account closed.  When a check is returned by the bank, the following procedures shall be followed:

A. The Activity Fund Coordinator shall immediately notify the maker of the returned check and request that it be redeemed with cash.

B. If the maker of the returned check requests that it be re-deposited, such action shall be taken.  A check may be re-deposited only once; after such time only cash may be accepted.

C. Under no circumstances should the returned check be surrendered to the maker except in return for cash.

D. No checks shall be accepted from a party who has not redeemed a previously returned check.

E. Retain all bank memorandums in the school files.

6.2       UNCOLLECTED CHECKS

Individual schools are responsible for the collection of returned checks.  The following procedures are for checks deposited twice in the School’s Activity Fund Account and returned the second time by the bank marked non-sufficient funds or account closed.  Send a letter to the maker of the check requesting payment in cash or by cashier’s check with a ten (10) day period.  The letter should be sent to the last known mailing address of the maker and should contain the check number, date and amount of check.  DO NOT SEND ORIGINAL CHECK!  The letter should stipulate the check has been re-deposited and returned again and unless payment is received within ten (10) days, the check will be turned over to the District Attorney’s Office for the filing of criminal charges.  This letter should be sent Certified Mail – Return Receipt Requested.

SECTION 7      DISBURSEMENTS

7.1       GENERAL POLICIES

A. All expenditures shall be paid by check from the Activity Fund checking account or in cash (for miscellaneous items not exceeding $25.00 each) from a petty cash fund.

B. Income received from a specific group (student and faculty) should be expended for that group.  The principal shall ensure that expenditures from    these accounts are written for the intended purpose of the group and should not divert for other uses.

C. No expenditure of funds shall be approved by the principal unless sufficient funds are available in the appropriate activity account.  Thus, no check shall be drawn on any account with a negative balance unless sufficient funds are available in the appropriate fund account, or unless funds are anticipated at a later date in the appropriate activity fund account.

7.2       REQUEST FOR CHECK

A. A completed Request for Check Form shall be the authority for the issuance of an Activity Fund check.  It must be completed prior to issuance of a check.

B. A completed Request for Check Form shall include:

1. The payee

2. Date and amount

3. Signature of person requesting the check

4. A brief description of the reason

5. Activity account name to be charged

6. Approved signature of the principal

7. Check number (when approved)

C. The Request for Check Form shall be attached to the supporting Documentation and kept on file for audit purposes.  Proper supporting Documentation shall include:

1. Vendor’s original invoices.  Periodic statements are not adequate supporting Documentation.

2. Sales slip or cash register tapes from teachers or other employees who request reimbursement for items purchased form their own funds.  Credit card statements and customer copy of charge slips are not adequate supporting documentation.

3. Other supporting documentation may include letters, announcements and renewal notices when invoices are not provided by the vendor.

D. Request for Check Forms for advances may be completed without supporting documentation.  However, permanent documentation must be attached later in support of the advance payment.  Also indicate on the Request for Check Form the receipt number, if monies are returned which have not been spent.

E. All invoices shall be checked to ascertain that sales tax has or has not been properly charged since most purchases made by schools are tax exempt.

7.3       ISSUANCE OF CHECKS

A. No expenditure of funds shall be approved by the principal unless sufficient funds are available in the appropriate activity account.  Thus, no check shall be drawn on any account with a negative balance unless funds are anticipated at a later date in the appropriate activity fund account.

B. All payments shall be made by pre-numbered Activity fund checks.

C. All Activity fund checks must be manually signed by two authorized check signers.

D. Payments must always be made to a specific person, company or organization.  Checks shall NEVER be made payable to “cash.”

E. Under no circumstances shall checks be pre-signed by an authorized check signer.

F. All checks must be typewritten or completed in ink.

G. “VOID” checks shall have the signature area cutoff and stapled to the appropriate check stub.

7.4       ADVANCE PAYMENTS

A. Advance payment may sometimes be requested for necessary expenses to be incurred by clubs or other student groups engaged in out-of-town travel.

B. The Request for Check Form shall indicate that the check is for a travel advance.

C. Upon completion of the activity, the sponsor shall return any unused funds for issuance of a receipt.  All supporting documentation and receipt for unused funds shall be attached to the original Request for Check Form.

D. The settlement of all advances shall be completed no later than ten (10) days after the completion of the activity for which the advance was made, except in cases deemed necessary by the principal.  In all cases, settlement should be attained prior to the end of the school year.

7.5       PAYMENTS TO NON-EMPLOYEES FOR CONTRACTED SERVICES

A. Payments for services performed by individuals not employed by the District may be made directly from the Activity Fund.

B. For employment of non-district personnel as a consultant/instructor the Contract for Consultant Services – Activity Fund should be completed prior to the services being rendered.  The form should be attached to the Request for Check form.  The following approvals are required for the employment of a consultant/instructor based on the total cost:

                  COST                                            APPROVAL REQUIRED

                  Less than $200                               Building Principal

                  $200 - $1,000                                Superintendent

                  Greater than $1,000                       Board of Trustees

C. If it is anticipated that total expenditures to non-employees during a calendar year could exceed $600, the social security number of the individual should be recorded on the Request for Check form.

D. At the end of each calendar year, prepare a listing of all non-employees providing services exceeding $600 during the calendar year.  The listing should include name, address, social security number and amount paid.

E. No later than January 15 of each year, this listing should be sent to the business office for issuance of a 1099 form as required by Section 6041 of the Internal Revenue Code.

7.6       MEMBERSHIP FEES

Activity Fund monies (school accounts) may be used for individual membership dues in a professional organization not to exceed one membership each for the building principal and assistant principals as approved by the Executive Directors for Elementary and Secondary Instruction.  School membership dues are allowable expenditures from Activity funds.

SECTION 8        PETTY CASH

8.1       GENERAL POLICIES

A. A petty cash account may be established at the discretion of the principal for the cash purchase of small miscellaneous items.

B. Each petty cash account cannot exceed:  $250.00

C. It is the principal’s responsibility to ensure the maximum protection of these funds.

D. Disbursements from petty cash should not exceed $25 for an individual purchase.

E. Employee or other checks should not be cashed from petty cash funds.

8.2       OPERATING PROCEDURES

A. The petty cash account is established at the beginning of each year by issuing a check in the desired amount (not to exceed the maximum stated in Section 8.1) payable to petty cash followed by the name of the principal.  For example:  Petty Cash – Jane Doe.  The principal shall then endorse the check and cash it either out of school collections or at the bank.

B. Cash disbursements may be made from the petty cash account not to exceed $25.  Original invoices or other suitable documentation must be obtained for all petty cash expenditures.

C. Replenishment of petty cash account shall be made once the cash balance falls below a manageable level such as $50.  A check is written to increase the cash to the amount originally approved and set up.

                  Example:    Actual cash on hand                  $50

                                    Amount to be replenishment      $200

                                    Original petty cash amount        $250

D. The original invoices or other suitable documentation supporting the petty cash disbursements (totaling $200 per the above example) should be attached to the Request for Check form to be completed authorizing the issuance of the check.

E. When recording the check issued to replenish petty cash in the General Ledger, the individual school or student account should be charged for their expenditures.    

F. At the close of each school year, the petty cash on hand should be receipted and deposited into the Activity Fund bank account.  The receipt is coded to the Petty Cash account, which should be -0- after closing.

SECTION 9   PURCHASING POLICIES AND PROCEDURES

9.1       PURCHASES FROM ACTIVITY FUNDS

A.     The school principal is fully responsible for all purchases and commitments requiring the present or future disbursement of Activity Fund monies.  Teachers must have a commitment from the school principal before making any purchase in the name of the school.

B. No purchases shall be made unless sufficient funds are available in the proper Activity fund Account or will be available at a later date within the current fiscal year.

SECTION 10      VENDING MACHINES

10.1     GENERAL POLICY

Revenue from vending machines situated in all areas of the school, whether school-serviced or vendor-serviced, shall be controlled by the school principal and processed through the Activity Fund or the General Operating Fund.

10.2     SCHOOL-SERVICED VENDING MACHINES

A. All transactions involving funds generated by vending machines shall be entered into the Activity fund Accounts established for this purpose.  For Example, receipts and disbursements for soft drinks, other vending machine sales, etc. should be handled through a separate soft drink or vending machine account, such as:  Soft Drinks Faculty Lounge, Soft Drinks – Game Gym, Vending Machine – Students.

B. Profits resulting from vending machine sales may be transferred, at the option of the principal, to accounts related to the supporters/payers from whom the profits were generated or other accounts for student related purposes.

C. This method of entitling the individual Activity Fund Account should relate directly to the location of the machines and the intended purpose of the profits.

10.3     VENDOR-SERVICED MACHINES

A school may contract with a firm whereby the vendor agrees to service the machine and collect the money.  The school then receives a periodic commission check from the vendor.  The school is not required to establish an Activity Fund account for each vending machine operator under this type of arrangement.  Vending machines profits (i.e., the commission checks) may be placed directly into the account related to the location of the machine or to the intended purpose of profits from the machine.

10.4     GENERAL OPERATING PROCEDURES

A. For elementary schools, revenue from vending machines must be collected and receipted weekly or when the amount exceeds $50.  Money cannot remain in the building over weekends or holidays.  For secondary schools revenue from vending machines must be collected and receipted daily or when the amount collected exceeds $50.

B. The principal is responsible for providing the maximum available security for vending machine inventories.

C. Funds shall be disbursed from the individual vending machine account only for the purchase of vending machine supplies, maintenance of the machine(s) and rental, if any, of the machine(s).

D. Any balance justly due for vending machines supplies shall be paid in full upon receipt of each monthly statement.

E. The balance in each vending machine account should be reviewed periodically to determine if a transfer of funds from profits from the account is warranted.

F. Vending machine profits which have be transferred to any related account(s) may be expended for any expenditure generally permissible from that account.

SECTION 11      STATE, LOCAL SALES AND FEDERAL EXCISE TAXES

11.1     TAXABLE STATUS OF PURCHASES

Ruling No. 95-0 from the State comptroller, effective October 1, 1969 states: “The sale, lease or rental of tangible property directly to or for storage, use or other consumption of tangible personal property directly by an educational organization…, which property is necessary to its function as such, and paid for by the organization is exempted from the computation of (state and local sales) taxes.”  Provisions under Article 21-023 of the Federal Statutes provide tax exemption to the School District .  In accordance with these rulings:

A.  TAX FREE PURCHASES

All items purchased by a public school, school district or non-private school for the schools own use qualify for an exemption from sales tax if the items purchased relate to the educational process.  The school, school district or authorized agent should provide the seller with a Texas Sales Tax Exemption Certificate.  To be valid, the certificate must state that the merchandise being purchased is for the organization’s own use in providing education, the purchase is being made in the name of the organization, and payment shall be made from the organization’s own funds.

Purchases for their own use by individuals, even though connected with a school or school organization, are not exempt from the tax.  Examples – cheerleaders purchasing their own uniforms, band members purchasing their own instruments and athletic teams purchasing their own jackets.

B.  EXEMPT SCHOOL ITEMS

Public and non-profit private schools and school-related organizations need not collect sales tax on the following:

1. Fees and admission tickets, including football and drama tickets

2. Club memberships

3. Deposits

4. Sales of food and soft drinks sold during a regular school day, subject to an agreement with the proper school authorities.

5. Sale of whole cakes or pies

6. Food and drinks sold at PTO carnivals

C.  EXEMPT FOOD SALES

The sales tax is not collected on meals and food products, including candy and soft drinks, served in an elementary or secondary school during the regular school day by a school, student organization or PTO subject to agreement with school authorities.

This exemption from the sales tax applies to guests, employees, or teachers served in a school cafeteria or teacher’s lounge during the regular school day.

The sale of food, including candy and soft drinks, is exempt from the sales tax when sold by an organization associated with a public or non-profit private elementary or secondary school (4-H clubs, Future Farmers of America, Future Homemakers, etc.).  If:

1.  The sale is part of a fund-raising drive sponsored by the organization; and

2.  All net proceeds from the sale go to the organization for its exclusive use.

D.  SCHOOL SPONSORED TRIPS

Meals purchased by the school for athletic teams, bands, etc. on authorized school trips are exempt from the sales tax if the school contracts for meals.  The school must pay for the meals and provide the eating establishment with an exemption certificate.

Individual members of the athletic team, band, etc. may not claim exemption from the sales tax on the meals they purchase while on a school-authorized trip.

An exemption may also be claimed by the school from the Hotel Occupancy Tax if the school contracts and pays for the accommodations and provides the hotel with a completed Hotel Occupancy Tax Exemption Certificate.

Teachers, coaches, and other personnel MAY NOT claim exemption from sales tax on individual purchases while on school business even though they’re reimbursed by the school for expenses.

E.  TAXABLE SALES

1. Supplies and Publications –

 Public and non-profit private schools and school-related organizations must collect the sales tax on the following:

a. School-purchased supplies sold directly to students including athletic equipment and physical education uniforms.

b. Fees for materials when the end product becomes a possession of the student.

c. School rings

2. Sales by Teachers and Students -

Teachers and students MUST COLLECT the sales tax on merchandise other than food products they sell.  If the school assumes responsibility for the activity and/or sales, the school is responsible for insuring the tax is paid.  The school may purchase items tax free and must collect the tax when the items are sold.

3. Band boosters are required to pay sales tax when purchasing taxable items and to collect sales tax when selling taxable items.

4. There are no Tax Exempt numbers.  Exemption certificates DO NOT require numbers.

F.  TOLL FREE NUMBERS

The State Comptroller’s office maintains a toll-free tax information number for quick response to any state tax questions you may have.  You can reach the Comptroller’s Office from anywhere in Texas by dialing: 1-800-252-5555.

11.2     REMITTANCE OF SALES TAXES

All sales tax collected by the school shall be remitted quarterly by elementary and middle schools and monthly by high schools, unless contractual agreements with a vendor stipulate that such taxes should be remitted to the vendor.

SECTION 12    FUND RAISING ACTIVITIES

12.1     DEFINITION OF FUND-RAISING ACTIVITIES

A fund-raising activity may be defined as any activity involving participation of a student body or a school-recognized student group undertaken for the purpose of deriving funds for a school or a school-sponsored group.

12.2     FUND-RAISING ACTIVITIES FOR A SCHOOL

A.  GENERAL

1. Fund-raising activities are not confined to regular school hours but are considered an extension of the school program.  When fund-raising activities are in the name of the school, all funds raised become school funds, belonging to the school-sponsored group responsible for raising the money.

2. Each organization is limited to a maximum of two fund-raising activities.

3. To request permission to conduct a fund raising activity, the club sponsor should complete the application portion of the Fund Raising Application and Financial Recap.

4. All requests submitted will be screened by the Campus Principal.

5. At the end of each fund raising activity, each organization shall report to the principal regarding the outcome of each fund-raising activity and how these funds were used.

6. At the elementary level, door-to-door fund-raising by students in activities sponsored by the school or by a school related organization is prohibited.

B.  ACCOUNTING FOR FUND-RAISING ACTIVITIES

1.  Collection and Disbursements:

a. All collections must be receipted and all payments must be made in accordance with Section 4 of this manual.

b. All collections and disbursements associated with any fund-raising activity coordinated by the school or a school-recognized student group shall be transacted through the Activity Fund.

2. Upon completion of fund raising activities, the Financial Recap Section of the Fund Raising Application and Financial Recap should be completed by the sponsor, with white copy to be filed with the activity fund Activity Fund Coordinator and the yellow copy to be retained by the sponsor.

This report should indicate gross collections and list any expenses incurred relative to the activity merchandise (advertising, sales tax, prizes, etc.).  Disposition of the net proceeds (profits) should also be disclosed if funds were collected for a specific purpose.  The Campus Secretary/Activity Fund Coordinator is ultimately responsible for the actual preparation and submission of the Summary Sheet; however, the person requesting permission to conduct the fund-raising activity should prepare the report.

3.  The club sponsor or activity chairman is responsible for keeping accurate records for all money-raising activities.  Such records should include at a minimum:

a. Deposit Verification Forms

b. Tabulation of Monies Collected From Students

c. Original cash receipts for money received and turned in to the Campus Secretary/Activity Fund Coordinator.

4. At the conclusion of the fund raising activity, all records should be turned in to the Campus Secretary/Activity Fund Coordinator with the original white copy of the completed Fund Raising application and Financial Recap form and retained for audit purposes.

SECTION 13      TRANSFER OF FUNDS BETWEEN ACTIVITY ACCOUNTS

13.1     GENERAL POLICIES

A. Some activity accounts are established for the single purpose of isolating transactions for a specific activity, collection, solicitation, etc., thereby enabling the profitability of the activity to be determined; a Picture Account and Candy Sale Account would be two (2) examples.  Net proceeds remaining in such an account must be transferred to the account approved on a Transfer of Funds Authorization Form.  For example, if pictures were taken to provide funds for new library books, then the net proceeds (balance in the Picture Account after all remittances to the studio, etc.) should be transferred to the Library Account on a transfer of Fund Authorization Form.

B. Some activity accounts are expected to be revenue producing by the very nature of the accounts.  Receipts almost always exceed possible expenditures and the balance in such an account will increase indefinitely unless some disposition is made of the excess revenue; vending machine accounts are an example.  As detailed in Section 9.2, vending machine revenue should be transferred, at the option of the principal, to accounts related to the supporters/payers from whom the profits were generated or other account for student related purposes.

C. Occasionally a club will compensate another school organization for goods purchased or services performed.  This may occur when a club purchases advertising in the yearbook, newspaper, etc.  A transfer of funds shall be made between accounts in such instances in lieu of issuing an Activity Fund check.

D. Likewise, a club may desire to make a voluntary donation or contribution to partially defray the expenses incurred by another club in directing a certain activity.  In such cases, the contribution shall be effected by an internal transfer of funds.

E.  Transfers require the approval in writing of the principal and club sponsors or account custodians when the transfer involved accounts with delegated responsibilities.

13.2     DOCUMENTATION OF TRANSFERS

A. Each transfer shall be initiated by preparation of Transfer of Funds Authorization form disclosing both the amount of and the reason for the transfer.

B. When all required approvals have been obtained, the Campus Secretary/Activity Fund Coordinator may post the necessary journal entries.

C. All copies of the Transfer of Fund Authorization Forms shall be maintained with the School Activity Fund Records.

MUNDAY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT

TABULATION OF MONIES COLLECTED FROM STUDENTS

(To be used in the individual school for miscellaneous collections)

This form shall list contributors and their contributions and be filed with the school treasurer.  A receipt for the total amount shall be issued to the teacher.

Check One:           Tax Exempt                Taxable

ACTIVITY INVOLVING RECEIPT OF MONEY ______________________________

Collector’s signature ___________________________ Total Contributed $___________

Campus Secretary/Activity Fund Coordinator signature ____________________

MUNDAY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT

REQUEST FOR CHECK

Activity Fund

Date ______________________

Amount $___________________

Payee _______________________________________

Address _____________________________________

            ______________________________________

Disbursement Explanation __________________________________________________

________________________________________________________________________

Activity Account Name ____________________________________________________

Requested By: _________________________________________

                                    (Teacher / Sponsor)

Approved By: _________________________________________

                                    (Principal)

IMPORTANT:  Attach invoice or sales slip to this form.

Paid by Check Number _____________________                                      Date _____________________

MUNDAY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT

CONTRACT FOR CONSULTANT SERVICES – ACTIVITY FUND

(To be used to secure services of non-district staff)

Name _________________________________________________ Social Security No. _______________

Address _______________________________    Credentials  ____________________________________

                _______________________________                        ____________________________________

                _______________________________                        ____________________________________

Phone:    ________________________________                     ____________________________________

Name of Meeting/Workshop/Project:              __________________________________________________

Date(s) of Service:                                               __________________________________________________

Session Start / Stop Times:                                __________________________________________________

Number of Hours Each Session:                        __________________________________________________

Total Fee to Be Paid (statement required):       __________________________________________________

Estimated Expenses (statement required):       __________________________________________________

To the best of my knowledge, the above information is accurate and no conflict of interest is involved in the contractual agreement.

This contract may be canceled by either party for any reason by written notice; the consultant fee to be paid shall be the fee earned on a pro rata basis as of the date of the cancellation.

                                Consultant’s Signature       _________________________________________________

                                Title:                                       _________________________________________________

                                Date:                                       _________________________________________________

**************************************************************************************

Munday Consolidated Independent School District

Originator: ____________________________________________  Date: ___________________________

Justification for Out-of-District Consultant: ___________________________________________________

______________________________________________________________________________________

______________________________________________________________________________________

APPROVED:                                                                                         Activity Fund Account:

______________________________________                       ___________________________________

                                Principal

Note:  Originator may attach additional requirement of information if deemed necessary.

TEXAS SALES AND USE TAX EXEMPTION CERTIFICATE

                Note:  This certificate cannot be issued for the purchase, lease, or rental of a motor vehicle.

                THIS CERTIFICATE DOES NOT REQUIRE A NUMBER TO BE VALID.

                Sales and Use Tax “Exemption Numbers” or “Tax Exempt” Numbers do not exist.

This certificate should be furnished to the supplier.  Do not send the completed certificate to the Comptroller of Public Accounts.

MUNDAY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT

DEPOSIT VERIFICATION FORM

DATE:  _____________________  TOTAL AMOUNT OF DEPOSIT: $_____________

Sponsor responsible for counting and verification: _______________________________

School employee concurring with count and verification:__________________________

Source of money: _________________________________________________________

Checks __________________________

Currency _________________________

Coin ____________________________

TOTAL $______________________________ (This should equal the “Total amount of

                                                                               Deposit” as shown at top of this page)

COMMENTS:

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Please make one copy of this report for yourself and then turn this in with your deposit to the Principal.  Thank you.

_________________________________    _____________________________________

      Sponsor                                                               Principal

MUNDAY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT

FUND RAISING APPLICATION

School (High)(Middle)(Elementary)_______________________

Organization _____________________________________________________________

Beginning sale date ____________________________ Ending date _________________

Description of product(s)

________________________________________________________________________

Who will do the selling? ___________________________________________________

Where? _________________________________________________________________

Will door-to-door solicitation be involved?_____________________________________

Vendor name ______________________________  Phone ________________________

Vendor address ___________________________________________________________

                        ____________________________________________________________

Expected net income $________________________

I am familiar with the school and district policies regarding the sale of merchandise at school and in the community.  I accept responsibility for the Sales Tax collection and cash collections involved.

____________________________________      _________________________________

              (Signature of Sponsor)                                        (Approval of Principal)

________________________________________________________________________

____________________________________________________________________________________________________________

FINANCIAL RECAP

To be completed after completion of fund raising project

                                    A.  Total Sales                                      _____________________

                                    B.  Expenses                                        _____________________

                                    C.  Actual Income (A  minus B)            _____________________

Status of any remaining inventory

_________________________________________________

_____________________________________  __________________________________

                    (Signature of Sponsor)                                (Verification by Principal)

Routing:  White copy – Completed Financial Recap – Retained by Campus Secretary/

   Activity Fund Coordinator

                Yellow copy – Completed Financial Recap – Retained by Sponsor

                Pink Copy – Application Copy – Retained by Campus Secretary/

   Activity Fund Coordinator

MUNDAY CONSOLIDATED INDEPENDENT SCHOOL DISTRICT

TRANSFER OF FUNDS AUTHORIZATION FORM

DATE:  ___________________  TOTAL AMOUNT OF TRANSFER: $_____________

Activity Account Transfer is coming from: _____________________________________

Activity Account Transfer is going to:_________________________________________

REASON FOR TRANSFER:

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Sponsor authorizing transfer: ________________________________________________

Principal authorizing transfer:________________________________________________

MUNDAY CISD STUDENT FUND-RAISER RE-CAP