Monday, May 7, 2012
Fundraising News - coach resigns after report of missing funds
One thing that doesn't seem to change is fundraising money being stolen. The thing it, it doesn't need to be stolen from your elementary school, middle school, high school, team or group!
Think safeguards. Think checks & balances. Think preventative maintenance.
If there ever was a time to take a step back and determine if you have systems in place to avoid theft, it's RIGHT NOW! The short answer is that there is no right time to think it through, but plenty of potential wrong times.
Stealing is a crime of opportunity. If you want to stop it, you have to remove that opportunity. That means that there is accountability sufficient enough to prohibit someone from believing they can get away with it for any length of time.
I have noticed that when a theft seems hard to get away with in the short term, the theft will not happen. So, make accountability swift!
Top 3 suggestions for safeguarding school fundraising money:
1) Have a two-person accountability team for every monetary transaction!
2) Do not allow cash to be held overnight and do not allow cash to pile up at events.
3) Have regular audits of all bank accounts, deposits & withdrawals and credit cards.
Oh wait, there's on more thing... Keep an online ledger of all fundraising activities purchases and income. I suggest google docs for this. Keep track of every event so that you have a fiscal record. But, this serves a number of benefits to your group. You will see which events worked best and have an accounting of profits vs. expenses so you know how to plan your upcoming fundraisers.
Hey, with that I bid adieu. KEEP THAT FUNDRAISING CASH SAFE FOLKS!
Ok, until next time.