In our new series of fundraiser tips, Mixed Bag Designs’ account reps and past fundraiser chairs hope to provide some fundraiser ideas that will help maximize your profits and minimize your stress levels (fingers crossed!). For this post we’re concentrating on the “bread and butter” of a school fundraiser: the funds! Read on to get ideas and learn the best practices of handling the money and funds during your fundraiser.
School Fundraisers Money Management Checklist
1. Get trusted volunteers. Possibly the most important part about planning a fundraiser across the board is getting help especially when you need it. Plan ahead and assign someone to act as treasurer to collect envelopes as orders come in. You shouldn’t need more than 1 or 2 people to do this, and it’ll be easier to handle when you have the responsibility for handling money accounted for.
2. Check the checks. Double check the funds as they come in. As the orders are collected review each one with the order and make notes of discrepancy. Keep an Excel handy or a list on file so you can return later when you need to handle any payment issues. It’s also a good idea to keep photocopies of an Overages/Underages document handy so you can immediately write out the issue before you forget. Then send the flier home to the parent as soon as possible to resolve the issue quickly.
3. Consolidate tasks. Avoid making extra work for yourself later by completing a set of tasks as each order is counted/checked. Double-check the payment, endorse the checks and organize the cash as it comes in. Your assigned volunteers can help take care of this as well.
4. Deposit the money! Don’t keep the funds in your home or with volunteers while you wait for orders to come in – try to deposit the money in chunks as often as possible. Alternatively, you can also designate the school safe as a place to deposit the checks and cash.
5. Follow Up. Bounced checks or unpaid orders happen but you must follow up with the parent as soon as you receive notification or notice the mistake to resolve the issue quickly. Most often it is a question of an honest mistake, but it’s best to clear it up sooner than later.