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Internal Audit Bookkeeper Training
February 13, 2014
FUNDRAISING
FUNDRAISING
All fundraisers must be preapproved using the MIS 582 form.
The school should use a separate fundraiser account for larger fundraisers or fundraisers that take place over several months.
Monies Collected forms for fundraisers must list source names or use the Report of Tickets Sold form.
All funds collected must be deposited into Internal Funds (Board Policy 2.10).
FUNDRAISING
Prohibited Fundraisers◦Games of chance◦Food sales in competition with Food
ServicesWhen a fundraiser is completed, the
sponsor of the fundraiser must complete the Financial Report of Fundraising form MIS 583.
Bookkeeper can use a Fundraiser Control Sheet to keep track of fundraisers.
FUND-RAISING CONTROL SHEET
APPROVAL FOR SALE FINANCIAL REPORT
MIS 582 MIS 583
SPONSOR ORGANIZATION ITEMS FOR DATE DATE DATE DATESALE OUT IN OUT IN
Transfers and Adjustments
TransfersWhat are Transfers?
Transfers are for the movement of funds between Internal Funds accounts. ◦Example: To move profits from a
fundraiser to the clubs general account.
Transfers are not used to correct cash receipt or disbursement errors.
Transfers
Transfers always cross columns, the balance in the To column must match the balance in the From column.
Transfers must be approved by your Principal.
Transfers with activity in a Trust account must also be approved by the Audit Department.
Transfers Transferring Fundraiser Profits
AdjustmentsThree Main Reasons for Adjustments:
To Record Investment IncomeTo Record NSF Activity
◦-NSF Checks ◦-NSF Check Redeposit
To Record Posting Errors
Adjustments
• All activity should be in either the Receipt column or the Disbursement column.
• Adjustments always stay in the same column, they should never cross columns.
• Most adjustments are in the Receipt column only, very rarely will you do an adjustment in the Disbursement column.
AdjustmentsHow NOT to do an Adjustment
AdjustmentsHow to Record Investment Interest
AdjustmentsHow to Record NSF Check
AdjustmentsHow to Record an NSF Redeposit
AdjustmentsMake Sure Your Bank Date is Correct
If the adjustment involves the $992 checking account, the Bank Date has to be the same as your Bank Statement.
Bank Dates do not print on Adjustment Vouchers.
Check the Bank Date of your adjustment in Manatee, before doing additional adjustments.
AdjustmentsHow to Check a Bank Date
AdjustmentsFinal Steps
AdjustmentsFinal Steps
AdjustmentsFinal Steps
AdjustmentsFinal Steps
AdjustmentsFinal Steps
AdjustmentsFinal Steps
AdjustmentsFinal Steps
How do I do that?Check out our new “How To”
page atauditing.leeschools.net/HowTo