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.
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Roy Renzenbrink, Director of Fine Arts
April Lam, Internal Auditor
August 4, 2009
Accounting / Audit
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
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
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.
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.
Separation of duties
Training of new officers
Policies and procedures
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.
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
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.
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.
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
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.
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