107 - Booster Club Transactions

Finance 107: Booster Club Transactions

Purpose

To ensure the compliance of booster club financial transactions with NCAA rules and Title IX regulations

Reference

NCAA Rules & Bylaws

Title IX Regulations

Definitions

Booster Club Accounts: A booster club account is an agency account that requires special oversight by the Athletic Department to ensure compliance with NCAA rules and Title IX regulations.

Policy

Accountability

Booster club transactions are recorded in the accounting records of the university so that NCAA and Title IX accountability requirements are maintained and the information is readily available for audit by interested parties. All expenditure request documents will be routed through the Athletic Department for review before further processing. The university will not charge an expense to a booster account without the cognizance of a booster club official.
Booster Club Requirements

Booster club accounts are subject to the following requirements:

  1. A separate agency fund will be established to handle the financial activity for each booster club. Subject to university regulations, all expenditures, fund transfers, club earnings, and deposits of donations specifically designated for the booster club will be processed through this account.
  2. Unless justified otherwise by special conditions, and approved by the Associate Vice Chancellor for Finance & Budget, the budgets established for these accounts will be based on and limited to actual revenues received.
  3. Contributions or other revenue received by the booster club for administrative or promotional purposes should be deposited through the Athletic Department to UAA Accounting Services in a booster club agency account.
  4. All contributions received by the booster club which are designated for UAA, UAA Athletics, or for a particular UAA sport and purpose should be given directly to the Athletic Department Business Office for documentation and deposit. The Athletic Business Office will ensure that the donations are designated for deposit to the appropriate unrestricted or restricted accounts. The deposits should be transmitted through the Development Office in accordance with Finance 202: Gifts & Donations. On occasion, the booster club may wish to donate excess funds from their booster club agency account to the athletic program. The donation may be accomplished by processing a journal voucher to transfer the funds. The Athletic Department will prepare a JV supported by a memo from a booster club official which documents the donation. A copy of the processed JV will be provided to the Development Office.
  5. All expenditure request documents will be routed through the Athletic Department for review before submission to Accounting Services. To ensure compliance with NCAA rules and Title IX regulations, the Director of Athletics or his designee (designee must be a full-time employee and a non-coach) has the authority to review and approve all expenditures from booster accounts.
  6. To ensure NCAA and Title IX compliance and to provide more precise accountability between restricted and agency fund activity, expenditures made directly from these agency accounts will be limited to internal booster club business transactions. Expenditures considered normal Athletic Department expenses (team travel, supplies, uniforms, services, etc.) will be accommodated by a journal voucher transfer of funds from the agency account to an Athletic Department account.
  7. Monthly financial reports will be provided to a booster organization representative so that expenditures and revenues may be monitored

Effective: 7/10/2005