Accounting for Fundraising Activities

Only qualified fundraising companies can be utilized by the campus/student activity funds. View the district approved Fundraising Vendor Listing.

Fundraising is an organized activity to raise funds for an organization or campus. Fundraisers should include a service or product. Under no circumstances should campuses or organizations participate in door-to-door solicitations, can shakes or enter into agreements with solicitation firms other than Donors Choose. Donors Choose and other campus specific donation campaigns will be considered on a case-by-case basis.

Campuses are not allowed under Texas Law to conduct raffles, bingo and other games of chance.

Babysitting Services are prohibited on Round Rock ISD premises. This type of service (whether provided by students or parents) is outside of the District’s liability insurance because it is not part of the District’s regular activities. In addition, this activity does not fall under the District’s immunity from liability under Texas Law.

All fundraising/sales activities involving a vendor or requiring public solicitation must first be approved two weeks in advance by the Principal and the designated Financial Services’ Representative. Under no circumstances should a campus or organization enter into agreements or advertise an event until approvals from the Principal and the designated Financial Services’ Representative have been received.

Two weeks prior to any fundraising/sales activity, campuses and organizations must request approval by submitting a Fund Raising/Sales application. This application details the vendor, product to be sold or service to be rendered, estimated sales proceeds, Principal’s approval and the designated Financial Services’ Representative’s approval. This requirement includes all sponsors, PTA’s and booster clubs desiring to begin a fundraising/sales activity. Approval must be received from the Financial Services Office before beginning fundraisers.

Each campus and/or organization will be allowed two fundraising/sales activities per year which involve an outside vendor. Additional funds may be generated through service projects with the prior approval of the principal.

Any amount due from previous fund raising/sales activities should also be noted on the application. Sponsors who do not properly manage their activities and have large monetary amounts outstanding will not be allowed to conduct subsequent fund raising/sales activities.

Within one month of the close of the activity, the fundraising/sales recap portion of the Fundraising/Sales form must be completed and forwarded to the Accounting Department. This form details the total receipts and expenditures of the sale and provides a section to detail lost, damaged or returned products. Monies which are uncollected due to the failure of a student to remit funds should be detailed on the recap form. These records should be maintained by the campus so that the monies can be collected at registration or prior to graduation.

The fundraising/sales recap can easily be completed from the information on the tabulation of money collected forms. A copy of the approved application and the recap should be attached to the voucher for payment of the merchandise.

The Accounting Department will maintain records of vendor and product performance based on the completed recaps and an annual survey. Vendors who repeatedly fail to meet established standards will not be allowed to do business with Round Rock ISD.

Fundraising – Community Service

Fundraising – Sales Tax

Round Rock ISD Policy CFD (Regulation)

These guidelines reference the collection of fees, cash handling procedures, and measures to ensure proper security of funds at campus functions where multiple sales are taking place.

Change Fund

If it is necessary to have currency on hand to provide change, you will need to request a change fund by contacting Financial Services at 512-464-5064. Please plan ahead as 2 weeks notice is necessary. Change funds should be re-deposited at the end of the event. View Request Change Fund Procedures.

Security

  • During collection times, cash and checks should be maintained in a portable box. Collections should be properly secured at all times and never left unattended. The box should be returned to the safe/vault overnight or when not in use.
  • Each lock box should be assigned to an employee–funds should never be commingled among different boxes.
  • Each checkout station should be manned by at least 2 individuals, one being an employee.

Collections

  • Checks should only be accepted for the amount of purchase. Checks are not to be cashed.
  • Post-dated checks should not be accepted.
  • Information contained on the check should include: name, address, phone number, and driver’s license number.
  • During the collection process, currency should be carefully scrutinized to ensure authenticity. Suggestions on authenticating currency
  • A receipt should be provided to the customer-this may be either a carbon copy of the form which denotes the amount received, etc. or a manually prepared cash receipt from a pre-numbered three-part receipt book.
  • Sponsors should maintain a record of sales using a tabulation of monies form or other suitable document which includes items sold, student’s name, and amount of sale (even if the collection is done at a central checkout station).

Reconciliation

  • At the end of each day, a reconciliation process is necessary to ensure that the amount of funds collected is consistent with documentation. To accomplish this, calculate the total amount collected as denoted on completed forms (whether for parking, lockers, etc.) or manually prepared cash receipts. This figure should balance to the total amount of money deposited (less any change fund). Another individual should confirm the amount of funds for accuracy.
  • For events that are held beyond 1 day, the original change fund amount should be the only funds in the lockbox at startup.
  • Funds should be prepared for deposit daily.

If you have questions concerning the procedures listed above or need assistance with your event sales effort, contact Financial Services at 512-464-5159.

Fundraisers Involving the Collection of Coins via Jars, Buckets, etc.

Due to the difficulties present in handling large amounts of coin, both in terms of controls over the money and challenges in making deposits, we have discouraged this practice. Although we continue to encourage community service projects with an emphasis on civic service rather than monetary collections, we recognize that in certain circumstances such as national tragedies, the collection and donation of funds may be the most appropriate method.

The following procedures which should help to provide adequate control and lessen the burden placed on campus secretaries:

  • A sponsor or organizing individual must be designated at the outset of the project.
  • During business hours, coin jars or other receptacles must be placed in an area which is easily accessible for others. In addition, a campus employee should be present at all times or the funds should be secured in the campus safe.
  • After business hours, coin receptacles must be adequately safeguarded in the campus safe.
  • Deposits of coins should be made within a reasonable time frame – weekly where appropriate in one of the following manners:
    • Preferably, a representative from the recipient organization will pickup the coin collections.
    • A Community Service Outreach Form must be completed. The campus representative and the recipient organization must sign the form detailing the donation.
    • Since the District’s contracted bank (Bank of America) does not provide coin counting machines, coins can be placed in sealed tamper-proof deposit bags (available from the campus secretary) and submitted for pickup by the armored transport service. A blank deposit slip should be included. A check may later be generated to the recipient organization.
  • If cash is collected, these funds may be secured in the campus’ safe until such time as a deposit is made or the collections are picked up. Supporting documentation must be present such as a Tabulation of Monies form. (This is only acceptable if cash represents a small amount. Otherwise, a deposit into the club’s activity account is more appropriate with a check later issued to the recipient organization.)
  • Many individuals prefer to write checks directly to the recipient organization. This is acceptable and these checks should be stored in the safe along with supporting documentation as indicated above.

The collection of donations which include placement of jars, buckets, etc. for coin donations shall be limited to the following:

  • National tragedies (for example – September 11, tsunamis, hurricanes)
  • Coats for Kids
  • Jump Rope for Heart (or other similar curriculum related events)
  • Other possible collections of this nature will be evaluated on a case by case basis.

In addition, In-Kind donations should be documented using the Community Service Outreach Form.

In-Kind donations are non-monetary donations that may consist of goods and services. Examples: can food or clothing drives, etc.

Certainly, we recognize that the collection of donations for charitable purposes is a noble cause which provides much needed assistance to worthy organizations and creates a wonderful learning experience for students. Nevertheless, it is necessary to ensure that practical measures are in place to provide the most secure environment for these efforts.

In-Kind donations should also be documented using the Community Service Outreach form.

In-Kind donations are non-monetary donations that may consist of goods and services. Examples: can food or clothing drives, etc.

In addition, certain monetary donations must be documented. This would include donations that are sometimes donated directly to the 501c3 organization or received via coin jars. Examples: Jump Rope for Heart, Relay for Life, etc.