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Handling cash from charity fund-raisers

Question:  At a recent ASB workshop, you mentioned that money raised for Red Cross or other organizations should not be run through the ASB account. We are conducting a fund raiser for Pennies for Patients. I have received coin, currency and a check. It will be probably around $500. How do I send the funds? I certainly cannot send cash?

 

Response:  You really can't put the money through your ASB account because it isn't an ASB activity. You can take the coin, currency and check to the bank and procure a cashier’s check payable to Red Cross. Remember that the ASB uses the district’s tax identification code, so the bank account(s) must be for ASB-related revenues and expenditures. Donations from local educational entities can be considered a gift of public funds, so you want to steer away from these types of transactions.

 

3/09/05

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