Journalism Departments – Record Keeping

  1. Complete and submit fundraiser application to bookkeeper at the beginning of each school year. All fundraisers must be pre-approved by the School Principal and the Director of Finance.
  2. Obtain a money receipt book, which includes pre-numbered, three-part receipts. Receipts should be prepared for yearbook sales and advertising sales for yearbook and newspaper. One copy of the receipt should be delivered to the “customer” from whom the money was received. Another copy should be attached to the Tabulation of Monies form that is delivered to the bookkeeper for deposit. The remaining copy should be retained by the Journalism Department and used to develop a database of sales (see Step 7).
  3. Receipts should indicate the student’s name (company name for newspaper ads), number of yearbooks purchased, date of collection, amount collected, type of payment (cash or check), check # (if applicable), and the signature of the individual collecting the money.
  4. All money (cash and checks) should be delivered to the bookkeeper daily. Money should not be maintained in the sponsor’s room overnight, nor should sponsors take money home. During the day, the money should be secured in a locking drawer or file cabinet. More than one deposit can be made per day.
  5. The Tabulation of Monies form must be completed along with all deposits. The total amount of the checks and total amount of cash should be included on the form. As discussed previously, a copy of the money receipt should be attached for all collections included in the deposit. This eliminates the need to individually list student names and amounts on the Tabulation of Monies form since this information is depicted on the cash receipts.
  6. At the time of delivery of money to the bookkeeper, obtain a money receipt from the bookkeeper detailing the amount of the deposit. These should be retained in a permanent file by year, along with copies of Tabulation of Monies forms prepared.
  7. Maintain a database or spreadsheet of all students who have purchased yearbooks. This database should be sorted by last name and a printed version should be used to record student signatures upon delivery of their yearbook.
  8. Take into consideration the total cost of yearbook printing and before establishing a selling price and ensure that the selling price is sufficient to cover the cost of printing.
  9. Maintain copies of advertising order forms in a file by year to ensure that accurate records are available when needed.
  10. Maintain at least one copy of each newspaper printed. Consider establishing a permanent file that will protect the newspaper from discoloration, etc. This may be stored in the school’s library for historical purposes. Maintaining a permanent record will also be helpful if advertisers wish to see a copy of their advertisements from previous months or years.
  11. The record retention requirement for student activity related funds is five years. All records pertaining to yearbook and newspaper sales, deposit and disbursement documentation, and any other information related to these activities must be retained for the required retention period. This requirement includes any record of sales collected by the vendor. Online records should be printed & retained.