South Charlotte Middle School Fine Arts Network

“Description;Amount^FIELD TRIP FEES;3115|MUSICAL PARTICIPARTION FEES;1975|MUSICAL SALES;7005|SALES TAX REFUND;186^Total;12281^”

“Description;Amount^ART EXPENSES;5060|BAND EXPENSES;5537|CHORUS EXPENSES;8031|DANCE EXPENSES;2240|DRAMA EXPENSES;2262|ORCHESTRA EXPENSES;8176|MUSICAL EXPENSES;3717|ADMINISTRATION EXPENSES;2202^Total;37225^”

“First issue: on the 2020 990-ez tax return, part 1, line 21, the amount entered was erroneously overstated by $674. The correct end of year balances for tax year 2020 should have been reported as $33,349. Second issue: fan uses a third party fee collection firm to collect electronic (credit card) payments. This fee collection company, pay 4 school stuff, made an error in one of its transmissions to fan's bank account. They sent $70 less than fan was owed. A correction to this error was never pursued, therefore fan's recorded fee income was overstated by $70 as compared to fan's bank statement. Third issue: as of 7/31/2022, there were payments in transit (outstanding checks) totaling $3,842. The combination of these three issues resulted in an adjustment of $3,098, which brings the fund balances of the end of tax year 2021 in line with the end of year bank statement amounts as of 7/31/2022 -- $35,282.”