Account Sponsor Training
Student Activity Funds
 Student activity funds belong to the students.
 These funds are generated through fundraising activities,
donations, fees
commissions.
and
student
vending
machine
 These funds are used to promote the general welfare of the
school and the educational development and morale of all
students.
Student Activity Funds
 Money raised must be expended to benefit the students
currently enrolled.
 Money raised follows the student (i.e. Money left over
from a first grade fundraiser at the end of the year will
benefit second grade students the following school year.
Money leftover from a graduating class will go to the
General Student Account.)
Account Sponsor Expectations
 Read and Sign Sponsor Responsibility Agreement
 Properly receipt all money received
 Make daily deposits to the Bookkeeper as money is
received
 Properly Document Fundraisers
 Produce Sponsor bi-monthly report
 Maintain Sponsor Ledger
 Verify your AL account balance monthly
All of these should be on file in
the bookkeepers office.
INTERNAL AUDIT WILL CHECK
THESE!!
Sponsor Responsibility Agreement
• Sponsor Must Read
and Sign Sponsor
Responsibility
Agreement.
• A new agreement
should be submitted
annually by the Sponsor
and kept on file by the
bookkeeper.
• Available online on
the aisdweb.
It is best to receipt money as soon as
you receive it. Turn it in to your
campus bookkeeper daily in tact.
Reviewing the Money Trail
1. Students turn in money to sponsor.
2. Sponsor receipts each student.
3. Sponsor combines students funds and turns in the sponsor
deposit slip with funds intact to bookkeeper.
4. Bookkeeper receives sponsor deposit and if she is unable
to count the money immediately, signs the ‘Received By’
line on the Sponsor Deposit slip and gives the pink copy to
the sponsor. When able to count the money immediately,
she will then verify the deposit, sign the ‘Counted By’ line,
write the receipt, attach receipt to yellow copy and give
back to the sponsor.
Document Money Received
 When Collecting Money from a student:
 If the amount collected is $15 or more use your receipt book.
 If the amount collected is less than $15 use a Cash Receipts
Tally Sheet form which is in the financial services online
library OR a Student Roster. If the Sponsor uses a Student
Roster, they must include the amount received next to each
student’s name.
 Important : Keep all money under lock
and key and turn in daily in the form it
was received.
Cash Receipt Books
NOTE: The Sponsor
must fill out the method
of payment, i.e., cash,
check or money order.
This will be an audit
finding if left blank.
Cash receipts tally sheet
•Used to record the receipt
of amounts less than $15 or
a student roster can be used
noting the amount received
next to each student’s
name.
•The Cash Receipts Tally
Sheet form is available in
the Financial Services
online library.
•
Never send money to bookkeeper by a
student.
• Never leave money overnight in your office
or room.
• Never take money home to count.
• Repayment of a Non-Sufficient Funds (NSF)
check must be made on a separate deposit
slip and given to the bookkeeper with the
notation that it is an “NSF repayment from
(name)”
Sponsor Deposit Slip
Note: The Sponsor must
write their “Account Name”
on each check received. For
example…. “Band”, “1st
Grade” or “Yearbook” on the
memo line.
Teacher Money Envelope
Notes
 Do not use money receipted to cash personal checks –
Deposits are made intact!!!
 Do not combine your deposits with other Activity
account/sponsors.
 Deposit money with the bookkeeper yourself. When
activity funds or product purchased with activity funds are
lost due to carelessness, theft, or fraud, the sponsor will be
held personally responsible and will be required to
reimburse the account for such loss.
Fundraisers
 The Fund Raiser/Sales Activity Application form must be
completed in full by the sponsor before the fundraiser is held and
submitted to the principal for authorization.
 All cash received during a fundraiser must be submitted to the
bookkeeper daily intact (sponsor must turn in money in the form it
was received, e.g. pennies for pennies) along with a Sponsor
Deposit Slip. All cash received during a Fundraiser must be
deposited.
 Sales Summary Reports must be completed by the sponsor and
submitted to the bookkeeper for principal’s signature within
THREE weeks of the completion of the fundraiser.
 Fundraisers can be taxable or non-taxable. Sales Tax and Use
Certificates can be found in the bookkeepers office.
IMPORTANT – Profitability??
 Research profitability of your
fundraiser before submitting your
Application for Fundraiser
 A Fundraiser should earn at least
40% to 50% profit
Fundraiser/Sales
Application and Sales
Summary Form – Sales
summary must be
completed within 3
weeks of the end of the
fundraiser or sale by the
Sponsor and submitted
for the Principal or
Director’s approval.
•
One-Day Tax-Free Sales
 Campus organizations are allowed to have two (2) tax
free sales per calendar year (January 1 to December 31)
 Either all sales must occur on one day or all of the
orders must be delivered on one day (e.g. yearbooks)
 Must be designated by the Sponsor on the Fund
Raiser/Sales Activity Application form
Disbursements
 Purchase Approval / Request for Check
◦ ALL Purchases require Prior Approval, in
writing from the Principal, before the purchase
is made. This includes activity fund purchases
made with the P-Card.
◦ Principal has the option to approve or
disapprove any Purchase Approval Request
◦ A PAR must always be completed with
corresponding receipt or invoice attached (with
Principal’s signature) before a check will be
written.
Purchase Approval Request
This document is very important. It says bi-monthly
but it needs to be balanced every month. The
bookkeeper and the sponsor need only to sign off on it
bi-monthly.
It is suggested that you balance monthly and sign off
monthly with your larger accounts or accounts with
lots of activity.
Sponsor Bi-monthly Report
 This is a mandatory document providing checks
and balances between the sponsor and the
bookkeeper
 Report should be completed even if the account
has no activity
 Report should be completed in ink and any
changes must be marked through and initialed.
DO NOT USE WHITE-OUT!
 Each submission should be signed and dated
Also…
It is the sponsor's responsibility
to inform the principal whenever
the bookkeeper fails to:
 Promptly sign and return the sponsor deposit slip
 Distribute bi-monthly reports
 Correct any balance discrepancies
Maintain Sponsor Ledger
 Use Sponsor Ledger to record all activity
fund transactions
 It is very important to maintain a running
balance
 It is the sponsors responsibility to
maintain the sponsor ledger. The
bookkeeper should never create or
maintain the ledger for the sponsor
Maintain Sponsor Ledger
• Available Online on
the aisdweb under the
Activity Fund online
library
Activity Ledger (AL) Account
Balance
 Your AL balance must always be positive and a check
will not be written that will cause your account to
become negative
 Verify your AL account balance with the Bookkeeper
 Keeping your ledger up to date will assist you in
knowing your account balance