misd booster clubs guidelines training l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
MISD Booster Clubs Guidelines Training PowerPoint Presentation
Download Presentation
MISD Booster Clubs Guidelines Training

Loading in 2 Seconds...

play fullscreen
1 / 15

MISD Booster Clubs Guidelines Training - PowerPoint PPT Presentation


  • 117 Views
  • Uploaded on

MISD Booster Clubs Guidelines Training. Roy Renzenbrink, Director of Fine Arts April Lam, Internal Auditor August 4, 2009. Agenda. Organization Guidelines Fund Raising Accounting / Audit Sales Tax Federal Reporting Questions. Organization.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'MISD Booster Clubs Guidelines Training' - Patman


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
misd booster clubs guidelines training

MISD Booster ClubsGuidelines Training

Roy Renzenbrink, Director of Fine Arts

April Lam, Internal Auditor

August 4, 2009

agenda

Agenda

Organization

Guidelines

Fund Raising

Accounting / Audit

Sales Tax

Federal Reporting

Questions

organization
Organization
  • Maintain Bylaws and Operating procedures – submit copies to Principals
  • Elected Officers – submit names & contact to Principals
  • Provide adequate insurance coverage for activities conducted on school premises
guidelines

Guidelines

Be voluntary & provide unified support for student activities

Encourage involvement by all students’ parents

Obtain 501 (c) (3) Federal Tax Exempt Status

Function in a way consistent with the District’s guidelines

Comply with UIL regulations as applicable

fund raising

Fund Raising

Submit a Fundraiser/Activities Approval Form to Principals

(new revised form)

Use internal controls to secure money collected from fundraising

Funds collected must be used to support school activities

accounting

Accounting

Bank Accounts

Obtain an Employer Identification Number (EIN). Booster Clubs are not allowed to use the District’s EIN.

Suggest that at least 2 officers be signers. District employees cannot serve as Treasurer or signer on the bank accounts.

All collections for fees, dues, and fundraising must be deposited upon receipt.

Reconcile bank statement monthly.

accounting7

Accounting

Record Keeping

A disbursement voucher with attached receipts should be completed for all expenditures regardless of amount

All funds must be supported by some type of record documenting the source, amount, and be available for audit purposes.

accounting8

Accounting

Internal Controls

Separation of duties

Training of new officers

Policies and procedures

auditing

Auditing

Why?

To assure all income and expenses are accounted for and consistent with the budgets and goals for the year.

To protect the officers and the organization.

When?

End of fiscal year (prefer 6/30 same as the District) or when there is change in any signers.

Submit the audited financial report to the principal no later than 8/1

auditing10

Auditing

Who?

Conduct by an outside party (CPA) or an audit committee which is comprised of at least 2 members of the Booster club (not the President or Treasurer.

sales tax

Sales Tax

All Booster clubs must apply for their own sales permit number.

They may not use the District’s sales permit number.

Exempt from sales tax when they buy, lease and rent items that are necessary to the organization’s exempt functions.

Tax-free items cannot be used for personal benefit.

sales tax12

Sales Tax

Each club has 2 tax free sale days during any 12 month period per Texas State Sales Tax Law.

Not exempt from collection and remittance of sales tax on taxable items sold

federal reporting

Federal Reporting

Booster Clubs are not required to file an information return if annual gross receipts < $25,000.

Booster Clubs with 501 (c)(3) exempt status file Form 990-EZ if annual gross receipts < 1 million ($25,000 - $999,999) and total assets < 2.5 million.

Booster Clubs with 501 (c)(3) exempt status file Form 990 if annual gross receipts > 1 million or total assets > 2.5 million.

misd booster club contact

MISD Booster Club Contact

Central Office: April Lam, Internal Auditor 469-742-4052

Shawn Pratt, Director of Athletics 469-742-4185 Roy Renzenbrink, Director of Fine Arts 469-742-4093

Boyd HS : Rick McDaniel, Principal 469-424-5421

McKinney HS: Amy Philachack, Assistant Principal 469-742-5880

North HS: Sandra Baxter, Bookkeeper 469-742-4400

Cockrill M S: Anthony Arnold, Assistant Principal 469-742-7876

Dowell M S: Dr. Logan Faris, Principal 469-742-6700

Evans M S: Todd Young, Principal 469-742-7100

Faubion M S: Principal 469-742-6900

Johnson M S: Mitch Curry, Principal 469-742-4922