HomeMy WebLinkAbout6.c. Expenditure Approval from the Donation Account – Parks & Recreation Dept
EXECUTIVE SUMMARY
City Council Regular Meeting: August 16, 2016
AGENDA ITEM: Expenditure Approval from the Donation
Account – Parks & Recreation Dept.
AGENDA SECTION:
Consent
PREPARED BY: Dan Schultz, Parks & Recreation Director AGENDA NO. 6.c.
ATTACHMENTS: Donation Revenue Worksheet APPROVED BY: ddj
RECOMMENDED ACTION: Motion to approve the donation expenditure of $10.71 for
sales and use tax for Run for the Gold supplies and $450.00 for T-shirts for the Run for the
Gold.
EXPENDITURE
AMOUNT
USE/ITEM PURCHASED
DONATION
FROM
$10.71
State of Minnesota – Sales and Use Tax on Supplies
Purchased from Sam’s Club for the Run for the Gold
Various
450.00
Pilgrim Promotions – T-Shirts
Various
$460.71
Total
SUMMARY
Please consider the expenditure from the Donation Account for the above items.
2
DONATION REVENUE WORKSHEET
RECEIPT OF DONATION
Donation Received on: Various
Amount Received: Various Receipt # for Donation: # N/A Purpose of Donation:
Run for the Gold – State of MN sales & use tax for
supplies purchased from Sam’s Club Account # for Donation: 101-22223 (Must be Liability # assigned for each individual Department.) EXPENDITURE OF DONATION
Amount to be Spent: $10.71 To be Spent from Acct #: 101-45100-01-439.00 (Must be Expenditure # corresponding to individual Department.)
Purpose of Expenditure: Run for the Gold – State of MN sales & use tax for
supplies purchased from Sam’s Club AMENDMENT OF BUDGETS
Amend Donation Revenue Acct #101-36230.00: $10.71 Amend Expenditure Acct #101-45100-01-439.00 $10.71 (The two-dollar amounts should be the same.) GENERAL JOURNAL ENTRY TO ADJUST DONATION LIABILITY #
Debit: 101-22223 (Donation Liability #) $10.71 Credit: 101-36230.00 $10.71 Journal entry to reduce deferred donation revenue and increase donation revenue to actual per Council
action on August 16, 2016.
3
DONATION REVENUE WORKSHEET
RECEIPT OF DONATION
Donation Received on: Various
Amount Received: Various Receipt # for Donation: # N/A Purpose of Donation:
Run for the Gold – T-Shirts from Pilgrim Promotions
Account # for Donation:
101-22223 (Must be Liability # assigned for each individual Department.) EXPENDITURE OF DONATION
Amount to be Spent:
$450.00 To be Spent from Acct #: 101-45100-01-439.00 (Must be Expenditure # corresponding to individual Department.)
Purpose of Expenditure: Run for the Gold – T-Shirts from Pilgrim Promotions
AMENDMENT OF BUDGETS
Amend Donation Revenue Acct #101-36230.00: $450.00
Amend Expenditure Acct #101-45100-01-439.00
$450.00 (The two-dollar amounts should be the same.) GENERAL JOURNAL ENTRY TO ADJUST DONATION LIABILITY #
Debit: 101-22223 (Donation Liability #) $450.00
Credit: 101-36230.00
$450.00 Journal entry to reduce deferred donation revenue and increase donation revenue to actual per Council
action on August 16, 2016.