Budget Tracking form is available for use. Fundraisers that utilized significant funding or resources may be required to do additional presentations.
Students are responsible for the appropriate disposal of all marketing materials after the fundraiser is over. All funds should be deposited within one( 1) week of the fundraiser completion.
403 Planning Fundraisers
When planning fundraisers, students must adhere to the parameters listed under Planning Activities( Section 203), as well as the stipulations listed below. If the fundraiser will utilize any print or digital marketing, students must follow the steps outlined in Marketing Activities( Section 204).
403.1 Prohibited Activities Any activity that is construed as gambling is strictly prohibited. Prize drawings and contests must adhere to the stipulations outlined in the Promotions Process at EFSC. Students are also not permitted to sell commercial items off campus on a door-to-door basis. Off-campus fundraising is generally denied as it presents a conflict with the College Foundation’ s fundraising efforts for student scholarships; exceptions may be made on a case-by-case basis.
403.2 Management of Funds All fundraisers must manage donations through a college agency account. The club or group may request to open one if they plan on recurring activities, or they may utilize a designated campus account for a one-time fundraiser by contacting the Student Life Coordinator. The process for opening and maintaining a college agency account is outlined in Club Finances( Section 109).
If the club or group is donating the funds to a charity, the agency account will have to be set up with the EFSC Foundation. The Foundation will then be able to generate a donation check for the recipient with a confirmation for tax purposes. The Student Life Coordinator can help the club or group identify the need for a Foundation account when the Fundraising Request is submitted.
Legal tender( cash, checks, drafts, money orders, credit cards, etc.) must be thoroughly documented and kept secure. The fundraising sponsor and involved students are directly responsible for the money raised. Any mismanagement of the funds will be immediately reported to the Associate Dean of Student Life and the Dean of Students and could result in serious consequences.
All funds should be deposited within one( 1) week of the fundraiser completion. Deposits shall be made through the Cashier’ s Office, and the deposit forms should clearly note the fundraiser and club or group in the description.
403.3 Collecting Sales Tax Items bought and then resold for a profit, with the exception of bottled water, have to include sales tax. Sales tax collected from the resale of items must be deposited in a separate account code( 23100) for the same index that the revenue is deposited into. Tracking of sales and tax is mandatory in order for the College to comply with state sales tax laws.
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