October 10, 2013

Education Foundation updates on finances

Education Foundation updates on finances
By Chris Erickson

Fundraising and funds raised were a large topic of discussion when the Beulah Education Foundation met recently. The topic was given extra attention to clarify that although donations were generally all put in the same account, they could be, and have been, earmarked for what the donor intended.
Elementary Principal Amber Skalsky spoke to the foundation board on behalf of elementary staff who were concerned over certain financial responsibilities that had previously been clear under the organizations of Dollars for Scholars and the PTO.
“A lot of people are worried that all the money is for scholarships and they feel like they’re losing control of the funding,” Skalsky said. “The book fair, for instance, brings in about $1,000 total from fall and spring. For us to say we’ll get $500 back is something that brings up questions.”
Foundation chair Janet Staloch noted that the foundation board was working to clear up some of those misconceptions concerning how the finances were broken down and would be happy to meet with staff or community members to speak about that topic in particular.
Business manager Carrie Miller said that different checking accounts wouldn’t be kept for each different topic or fundraiser. The foundation board had already effectively earmarked funding to ensure that scholarships were separate from the book fair and the carnival, among other activities.
Staloch noted that the foundation allowed for a long-term investment, which changed the financial philosophy.
“We used to raise money to spend money,” Staloch said. “Now we’re raising money to earn money and grow money and are able to fund the activities we’ve always funded.”

 


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