Internal Audit Bookkeeper Training February 13, 2014February 13, 2014

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