Penn State Intercollegiate Athletics collects an entry fee in order for outside groups/individuals to participate in some Intercollegiate Athletics sponsored events, including clinics, tournaments and invitationals. The two methods of collection of these fees are, (1) by requesting payment in advance via a University Park Invoice when the contract and/or announcement is sent to the participants, or (2) on the day of the event by the field collection method.
Due to the uniqueness of some athletic events, last-minute qualifications at another institution may prevent participants from paying in advance. Therefore, it is also necessary to provide for participants to make payment on the day of an event if they have not previously been invoiced. When fees are collected on the day of the event, the Intercollegiate Athletics Business Office provides an employee at the site of the event to collect the cash per this procedure, and to issue University Pre-numbered Receipts.
Any refund of a pre-paid entry fee will be made on the Refund Request.
There are individual entry fees for some events and team entry fees for other events. All fees must be approved by the Corporate Controller. Entry fee waivers must be requested in advance by the head coach and appropriate athletic administrator. Waivers are forwarded to the Associate Athletic Director responsible for the Business Office in conjunction with the request for fees to be sent to the Corporate Controller for approval.
For the purpose of this procedure, "appropriate athletic administrator" shall be the designation for the budget administrator for each sport.
The Athletic Business Office is responsible for the invoicing, collection, deposit and reconciliation of all entry fees.
Athletic Events Contracts (Exhibit "A") are usually required of college or club teams wishing to participate in an Intercollegiate Athletics sponsored event. Contracts are prepared by the appropriate athletic administrator and submitted to the Athletic Business Office. The approved entry fee is stated in the Contract. Entry fees are requested to be paid in advance by check to the Bursar when invoiced. The Contract is to be returned to the Intercollegiate Athletics Business Office. If the fee is not paid in advance to the Bursar, the fees may be collected on the day of the event as described later in this procedure (see the section, Day-of-Event Payment of Entry Fees).
As an approved exception to University Policy FN11, athletic event contracts may be signed by the Director of Athletics or a designated representative of the Director, provided such contracts meet the criteria designated in the Intercollegiate Athletics Policy Manual on page II-8.
If a contract is not required, the fee must be stated in an Athletic Events Announcement (not exhibited). Announcements are prepared by the coach of the sport and the appropriate athletic administrator and submitted to the Business Office so that invoices may be mailed out at that time.
The Business Office handles an announcement in the same manner as a contract (described above).
Fees for the participation in Intercollegiate Athletics sponsored events are established by the coaches with the help of the appropriate athletic administrator, and approved by the Associate Athletic Director who is responsible for the Business Office, and Corporate Controller.
Upon approval, a Fees Schedule is published and forwarded to the IA Business Office no later than 2 weeks prior to the event. Fees should be confirmed well enough in advance so that the appropriate fee information may be included on the contract and/or announcement that the Business Office sends to the participating group or individuals.
There are two types of entry fees - Individual Entry Fees and Team Entry Fees.
Generally, Team Entry Fees are paid in advance of an event, but they may be paid on the day of the event by the field collection method (described later in the section, Day-of-Event Payment of Entry Fees).
Individual Entry Fees are requested in advance, but more often than Team Entry Fees, they are paid on the day of the event. When the fee is paid on the day of the event, an on-site Intercollegiate Athletics Business Office Representative will issue a University Pre-numbered Receipt to each participant paying the entry fee who has not already been invoiced for the fee for that event.
Participants may pay the approved fee by check or cash. Checks must be made payable to "The Pennsylvania State University" per policy FN01.
Once the fees and details of the event are established, the appropriate athletic administrator will submit copies of the event details [including a List of Participants (Exhibit "B"), if known in advance] and, if required, the announcement to the Business Office. If a contract is to be mailed to the participants, the contract is prepared by the Business Office.
The Business Office prepares a University Park Invoice requesting advance payment for either the team entry fee or individual entry fee.
Participants are requested to make payments to the Office of the Bursar. Cash or check payments for fees invoiced on a University Park Invoice are not to be collected by Intercollegiate Athletics. However, if checks are received in the mail or on the day of the event, Intercollegiate Athletics will restrictively endorse them and deliver them to the Office of the Bursar immediately, without preparing a Report of Cash Receipts. These payments may be hand delivered, or delivered via courier in a locked deposit bag. Under no circumstances should they be forwarded via inter-office or U.S. Mail.
The Invoice information is entered into the Invoice Log (not exhibited) indicating the Invoice number, group/individual billed, the date the invoice is prepared and mailed, and the amount of the invoice.
All prepayment requests in the form of a University Park Invoice must be accompanied by either an Athletic Events Contract or an Athletic Events Announcement when mailed to the prospective participants. The entry fee is stated on the contract/announcement and the original and first copy (remittance copy) of the Invoice is enclosed when the contract/announcement is mailed.
The Business Office then prepares a Special Event Fee Record for the event (Exhibit "C"). The names of the participants, type of entry fee, and the invoice number must be entered in the appropriate sections of the form prior to mailing the information to the participants. Copies of the invoices, contracts/announcements, and Entry Fee Schedule are attached to the form and filed in the events logbook.
When cash is collected on-site for participation by a team or an individual that has not already been invoiced for that event, the Field Collection Method is used. The participants pay their registration fee by cash or check. All checks shall be restrictively endorsed per University Policy FN01. At the time of collection of the fee, the participant(s) is issued a University Pre-numbered Receipt. The receipts are retained with the money in the cash box by the Business Office Representative. The cash box must be under the control of the Business Office Representative at all times.
In addition, the participant(s)'s name, Receipt number, and payment information is recorded by the Business Office Representative on the Special Event Fee Record.
When required, a change fund for field collections may be established by utilizing the Request for Cash Advance form.
After all registrations have been collected, the on-site Business Office Representative will record the statement **LAST ITEM** and the date in ink on the registration form immediately following the last registrant. All entries before this statement show valid paid registrants to the event.
The Business Office Representative counts the cash by denomination and enters it on the Cash Count form (Exhibit "D"), along with the total in checks. The beginning and ending Pre-numbered Receipts numbers are entered on the form in the appropriate area.
The cash collected, Cash Count, Special Event Fee Record, and the department copies of the Pre-numbered Receipts will be secured in the Business Office Representative's cash box until later reconciliation (discussed later).
The cash box will be taken by the Business Office Representative to the Accounting Clerk in the Business Office after all collections have been made on site of the event. If the event occurs after the operating hours of the Business Office, the Representative will secure the cash box in the Business Office safe for deposit on the next scheduled business day.
When day of event fees are taken to the Business Office for deposit, the Accounting Clerk completes an Accountability Transfer Form recording the transfer of accountability of the cash, the Pre-numbered Receipt copies, unused Receipts, and forms from the Business Office Representative to the Accounting Clerk.
As day of event fees are received in the Business Office, the Accounting Clerk includes the receipts in the day's Report of Cash Receipts,
prepared in accordance with the instructions on page 1.1 of the General Forms Usage Guide. Fees are credited to the appropriate Intercollegiate Athletics budget, Fees Income - 1003, Object Code 029.
The Accounting Clerk records the Report of Cash Receipts number on both the Cash Count form and the Special Event Fee Record.
Fees are deposited in accordance with the Procedure CR2005 - Depositing Cash Revenues.
If not provided prior to an event, a List of Participants Sheet (Exhibit "B") must be forwarded to the Business Office after the event. This form, indicating the total number of participants in the event, is used to calculate the expected event income. To determine the amount that should have been collected for the event, the total number of non-Penn State participants (from the List of Participants Sheet) is multiplied by the entry fee.
The Business Office adds the total of the invoices to the day-of-the-event payments on the Special Event Fee Record to determine the total amount collected for the event.
Total day-of-event collections entered on the form should equal the total of the pre-numbered receipts issued for the event.
Total payments for the event entered on the Special Event Fee Record should equal the Expected Event Income Total on the List of Participants.
See Procedure CR2002 - Processing Returned Checks.
The Coordinator, Administrative and Business Services is responsible for monitoring the controls and methods as discussed in this procedure, as well as conducting an audit of each event.
The Financial Officer is responsible for monthly reconciliations to the Auxiliary Accounting Records to insure that the monthly fiscal reports reflect that income was properly credited per this procedure, and for performing spot audits on a periodic basis as outlined in the Financial Officer Procedures Manual.
The Financial Officer is responsible for ensuring that procedures pertaining to the accountability and safeguarding of all cash receipts, cash funds, and other assets are established and followed in accordance with approved University policies and procedures. Regular audits relating to advances, cash, travel, equipment accountability, and other expenditures provide a means to protect University assets. The Financial Officer is responsible for working with Internal Audit when audits are being performed in the administrative area, as well as performing an annual audit that is submitted to the Assistant Controller.
Record retention must be managed in accordance with Policy AD35 - University Archives and Records Management, and records schedules approved by the Records Management Advisory Committee, Office of General Counsel, and Office of the President. These retention requirements are the University's retention criteria, either derived or based upon federal, state, and local statute or regulations, industry standards, and business needs. Retention beyond recommended time periods require justifiable reasons and warrant review by the Records Management Officer or designee. All documents must be maintained in such a manner so as to provide ease of access for review, and to provide a suitable audit trail for all transactions.
- Documents subject to a Legal Hold (see AD35, Legal Hold). A legal hold will remain in effect until it is released in writing by the Office of General Counsel.
Documents under audit or review, either internally or externally. The retention period extends until released by the Corporate Controller's Office. The Financial Officer will be notified regarding any accounts which are under audit; the Financial Officer will be responsible for contacting the department.
Additional questions may be directed to the University Archivist or the Records Management Officer.
For questions, additional detail, or to request changes to this procedure, please contact the Financial Officer, Intercollegiate Athletics.
Date Approved: 11/11/92
Most recent changes:
- Original - Dated 05/29/92
Revision History (and effective dates:)
- Original - Dated 05/29/92