All fundraising activities by clubs must be approved by the President and should adhere to the following procedures.
These procedures should be followed to ensure compliance with State regulations concerning depositing of cash.
- Each club participating in fundraising activities shall appoint a treasurer responsible for cash collections. A designated weekly collection day should be established and all persons turning in monies will be issued a receipt. The receipt will serve as proof of collection.
- A deposit should be made in the Isothermal Community College Business Office within 24 hours of collection. (Next Business Day)
Fundraisers generally include products or goods. Due to limited control elements relating to cash collections, additional control measures will be adopted for the handling of products and goods for sale.
- The club advisor will be responsible for maintaining a record of the inventory involved with each fundraiser.
- Beginning product balances should be recorded, and each student issued product to deliver should account for sales related to product taken for delivery.
- Each student’s collection amount should be consistent with the amount of product issued for delivery.
- A reconciliation of total inventory ordered, items delivered, and ending inventory must be prepared at the end of each fundraiser and submitted to the club advisor for review. This information must be made available to the Dean of Students, Student Activities Coordinator and Business Office personnel upon request.
- Discrepancies will be the responsibility of the club advisor responsible for the project.