Cf:  DK, JHB





School Fund Raising Projects and Activities are a common source of revenue for schools and organizations connected therewith.


These projects are carried out in the name of the school for a school related purpose.  The monies raised in these projects are therefore public funds and should be properly accounted for and safeguarded.


The following are recommended guidelines in effecting the proper procedures and accounting methods to follow in any fund raising activity.



Fund Raising Activities


Any fund raising activity to be conducted by any local school and/or organization thereof must have prior approval of the principal and a copy of the approval statement must be forwarded to the Superintendent.


The organization and faculty sponsor must present a written request to the principal for permission to conduct a fund raising project.  The request should include, but not be limited to, the following:



The reason for the activity and the monetary goal.



How the proceeds from the activity are to be spent.



How long the fund raising project will last.



The type of project to be conducted. (Candy sale, magazine sale, etc.)



Entering Into the Project:



All purchases and/or contractual agreements connected with a fund raising activity must be made and signed by the principal.  It is preferred that a purchase order issued by the school and signed by the principal be used. The purchase order should show items to be purchased, quantity, cost, term of payment, and shipping instructions.



No loans shall be made for the purpose of financing a fund raising project unless it has prior approval of the principal and Superintendent.






A pre-numbered receipt must be issued to each person who forwards cash and/or checks received as proceeds from the project.  The receipt must show date received, amount received, from whom received and signed by the person actually receiving the funds.



All monies received are to be deposited in the bank in a fund designated by the principal on a daily basis.  A deposit slip must be properly made out for each deposit. Deposit slip shall show date, name of account and source of funds.



Proper accounting procedures shall be used in maintaining the funds account.  A profit and loss statement should be made on each project.



All fund raising projects shall be made available for audit within 10 days after the completion of the activity.



Payment for Merchandise and/or Services:



Invoices and purchase order copies must be on hand and properly signed indicating all merchandise was received. Any exceptions or corrections must be noted on the invoice.



Payment for merchandise and/or services must be made as agreed.  These payments must be made before any proceeds from the project can be used for any other purposes.



All payments shall be made by check after the principal has approved payment.





It is imperative that all invoices, purchase orders, correspondence, checks and receipts be systematically kept and orderly filed.


All bank statements are to be reconciled.



Ref:     Superintendent's Memo, 1-24-78


Washington Parish School Board