Student Activity Funds: Procedures & Controls by Cuzzetto Charles E

Author:Cuzzetto, Charles E.
Language: eng
Format: epub
Publisher: Rowman & Littlefield Education
Published: 2004-11-27T16:00:00+00:00

Admission Charges

The fourth category of revenue for student councils is money earned from charging admission to certain activities. These activities include admission to dances, athletic events, and band and choir performances. The use of tickets for admission helps to control the revenue, but requires some planning and approval. An example of a ticketed event and necessary controls and procedures is displayed below:

1. The junior class presents a request to the student council to hold a dance. The cost for the dance is expected to be $2,500 for the DJ, decorations, custodial, chaperones, pop and cookies. Admission costs will be $10 with an ASB card and $15 without. Based on past experience they expect 300 students to attend, 200 with an ASB and 100 without. Projected profit is $1,000 (200 × $10 plus 100 × $15 less $2,500) and will be used for a year-end function.

2. The student council approves the dance and the request for expenditure.

3. Purchase orders are created for the DJ, pop and cookies, and payroll forms are prepared for the chaperones and custodians. Processing of receiving and payments of goods, services and labor are not followed here but are recapped in the chapter on expenditures.

4. The junior class advisor signs out for two types (two different colors) of pre-numbered tickets to be used for the dance admission and a $100 change fund.

Many schools have started creating their own personalized ticket stock using computer software. Access to the ticket stock should be limited and consecutive pre-numbering should be required.

Pre-sale requires on-going control and use of tickets that are unique and can not be purchased outside the school or duplicated.

5. The advisor sets up the change funds and the sales booths. If enough resources, each ticket booth should have one person checking the ASB cards and issuing the tickets, the other taking the cash. Receipts are not necessary if a re-entry system, such as a hand stamp, has been established.

6. At the end of the sale, the ticket seller counts the cash and prepares the gate receipt report. This is verified by a second person or advisor. Monies and unused tickets are turned into the school bookkeeper. The cash register receipts are held with the gate receipt reports and filed with student council documents.

7. The class and advisor present the results to the student council.

The financial results should include all costs.

The results should also include the number of students attending.

The council may wish to receive a critique on the dance.

The same series of transactions would hold for most ticketed events. Smaller schools often track attendance at a dance or paid assembly by using a sign-in sheet. The sheet could then be matched against total receipts. Appropriate supervision or separation of duties adds to the reliability of the process.

Any losses from admission revenue, identified through the reconciliation process, should be researched immediately. The use of multiple admission charges often leads to sales at the incorrect price or errors in making change.

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