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Section 5 - Revenue, Income, and Receivables

Section 5.9 – Non Operating Revenue Collection

Date: 10/1/07 — Approved: Finance Board

Fundraising is an excellent way for the various A.S. departments to raise both awareness and extra revenue for their programs.  The purpose of this policy is to cover the basics of fundraising and provide guidance on how to account for the funds generated.

NON-OPERATING REVENUE DESCRIPTION

This policy discusses the basic controls that need to be in place when you are collecting revenue outside the normal business operations.
Examples of this type of non-operating revenue collection include:

• Selling goods (t-shirts, raffle tickets, note cards, auction of artwork, etc.)
• Selling  services (car wash, golf tournament, etc)
• Membership dues
• Promotional arrangements (eat outs)
• Contracts for services (Arena, Athletics, Aztec Shops, etc.)
• Other

General Approval

All revenue generating activities must be reviewed by the A.S. Controller or designee prior to organizing the event to ensure all required policies and required documents are in place. The following information must be provided in order to be approved:

• Description of the event
• Budget for the event
• Fees to be charged and how collections will be handled
• How will “qualified” donations be handled

Some general policies include:

• Membership Dues – deposit at an approved Associated Students revenue collection operation (i.e. Ticket Office)
• Sale of Goods
• Miscellaneous Services – fundraising coordinator will need to prepare a report to account for monies collected.
• Promotional Arrangements – fundraising coordinator will need to coordinate with the restaurant, etc to get confirmation of amount raised and a report.  Then the AS Accounting Office will bill the restaurant after submission of a Billing Request form by the fundraising coordinator.
• Contracts for services – All contracts must be reviewed by the AS Executive or Associate Executive Director at least two months prior to the event to ensure that all liability issues are resolved.  Fundraising coordinators will be responsible for working with contractor to get a report of monies earned.  A.S. Accounting Office will bill the contractor.  Reminder if the contractor is an AS Division, then a journal entry will need to be processed.

Financial Responsibility

An AS employee or other designee (fundraising coordinator) will be assigned the responsibility for accounting for the product purchased for resale (i.e. – T-shirts) and/or the funds collected.  Since these types of events are normally held outside of the normal business operational guidelines it will be very important to coordinate with the Accounting Department to ensure that purchased goods and revenue earned are properly accounted for.

Payment to Vendors

All payments to vendors should follow existing A.S. Policies and Procedures.  In addition, all payments should be made via an AS check unless prior approval has been given by the AS Controller to allow cash payments.

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