CHESAPEAKE ATHLETIC BOOSTERS POLICIES AND PROCEDURES

The mission of the Chesapeake Athletic Boosters is as follows:

• • • Provide College Scholarships to the chosen Student Athlete(s) each year.  (Detailed selection criteria available upon request)

    • Provide assistance in procurement of necessary equipment for Student Athletes, which are deemed to have financial need, upon referral by the Coaching Staff or Athletic Director and upon approval by the Board.

    • Provide additional financial support to Chesapeake Athletic programs upon request of the Athletic Director and upon approval of the members/board.

    • Act as a financial conduit for the various sports programs to deposit funds raised and in turn pay expenses out of those monies raised by the individual sports.

The primary fundraising activities of the Chesapeake Athletic Boosters are as follows:

• CHS Football and Basketball Program Ads

• Chesapeake Buddy Basketball League

• Other fundraising activities/sales of promotional products as the board/members deem appropriate from time to time

• Fundraising events are planned and executed by the various sports programs for the  benefit of that particular sport

Accountability and Transparency are very important.  The goal of the Boosters organization is to put in place sufficient processes and procedures to ensure that the community, donors and benefactors have the utmost confidence in the financial integrity of the organization.  To support this objective the following procedures have been adopted by the boosters:

• • • Receipts-All receipts generated by fundraising activities will be reconciled to some supporting information to demonstrate the completeness of the funds turned in for deposit.  This is crucial.  For example, if you purchase 1,000 candy bars and intend to sell them for $1 each, then you should end up with $1,000 for deposit.  Most all fundraising activity receipts can be supported in some way.  In the unlikely event that a way to support the amount of money raised cannot be determined, then at least two people should sign off on a certification stating the amount raised by the event.

    • Payments-All expenditures must be supported by a receipt or other suitable documentation.  While it is preferred to have invoices submitted for payment directly out of the boosters account, it is understood that from time to time it will be necessary to reimburse upon presentation of appropriate documentation of expenses paid.  Advances of funds will only be considered in unique situations.  Should funds be advanced, the prompt return of any unused funds and the receipts/documentation for any funds spent is required.  Any cash payments made must be supported by a receipt.  If an individual (such as a referee) is paid, a receipt signed by the coach and the person receiving the payment must be submitted to support the payment.

These policies and procedures are put in place to protect the Boosters organization and its officers as well as the coaches and fundraisers associated with the various sports programs.  Strict adherence to these rules is expected of all coaches.  It is imperative that all monies raised be turned into the boosters.  No coach can put him/herself in the position of holding funds.  This just creates the opportunity to question the integrity of the coach, the program and the boosters.  An environment of 100% accountability and 100% transparency must be maintained.  As a 501(c)(3) organization the Athletic Boosters are required to report activities to the IRS each year and are subject to audit by the IRS.  Appropriate records must be maintained to satisfy this requirement.

Under no circumstances will payments be made to any student athlete or their family.  While all funds raised by each sport are subject to the direction of the coaching staff, the Athletic Boosters reserve the right to determine the appropriateness or necessity of any expenditure. 

No sport will be allowed to spend funds in excess of the funds available in their account.  No coaches are permitted to charge items in the name of the Athletic Boosters, without first getting the approval of the Athletic Boosters.  Only members of the Athletic Boosters Board are permitted to approve purchases of merchandise on credit in the name of the Athletic Boosters.

The Treasurer will submit a financial report at each meeting.