Washington-Liberty Athletic Boosters

Boosters function is to enhance the Washington-Liberty High Schools Athletic programs by raising funds and making grants to the school for equipment league registration fees coaches training transportation and other expenses An ancillary function has been to serve as custodian of funds for families as they help student athletes with college expenses The families provide funds which the Boosters hold in a custodial account until they are distributed to college-bound student athletes based on needmerit Boosterss role is purely custodial as we merely receive hold and distribute the funds on behalf of the families and recipients These funds are not Boosters revenue nor a tax-deductible donation nor do the Boosters participate in the award processdecisions While in possession of these funds the Boosters recognize them as both an asset cash and liability payable to eventual awardees with no net impact on balance sheet