BOOSTER CLUB
TREASURER’S PROCEDURES
All team accounts should be held by Booster Club. The advantages
of doing so are:
► Use of the 501(c)(3) tax status of the Booster Club
► Use of Booster Club sales tax exemption
► Team specific monthly financial report showing all funds in
and out of the team account as well as where deposits came from,
what expenses were for and who requested them
► Teams choosing to maintain their own accounts may not take
advantage of the Booster Club tax status nor the Booster Club sales
tax exemption status. In addition, they may also be asked to
provide their own periodic reports accounting for all funds received.
Procedures for deposits:
► Deposits slips should be made out completely for each deposit
and the deposits turned in at the athletic office. For the benefit of future fundraisers, please indicate where the money came from. (Checks only, no cash – keep the cash and write a check to the Huron Booster Club)
► Every check should be made out to the “Huron Booster Club” and
should have the sport written on the Memo line on the check.
► If there is more than one check, in the event of a discrepancy, it
is very helpful if you attach an itemized list indicating the amount
and the party’s name.
► Person making the deposit should keep a record of the deposit
and make sure it is recorded in the financial statement following the
deposit
Procedures for check requests:
► A Payment Request Form must be completed and properly signed.
These forms are available in the athletic office. Be sure to fill in the name of the team to be charged.
► Receipts must accompany all payment requests
► Payment requests with receipts stapled to them should be left in
the Booster Club mailbox in the mailroom of the athletic office.
► Email Credit Card Payment requests to Antoinette Hopper at acast@umich.edu
► Every effort will be made to write checks bi-weekly. If you have a
special situation which requires an immediate check, please contact
Antoinette Hopper at acast@umich.edu.
► Team reps and/or coaches should check the monthly financial
statements to make sure expenses are properly recorded.
Questions regarding these procedures or the financial reports
should be directed to Antoinette Hopper acast@umich.edu
Revised 4/12/2011
