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<br />. Checks <br /> <br />Checks shall be made payable to the City of Sunny Isles Beach. Sponsors shall <br />not make checks payable to City employee(s). <br /> <br />. In-Kind Gifts and Donations/Gift <br /> <br />In-kind donations are a contribution of personal or real property or tangible or <br />intangible property or other services. <br /> <br />All gifts/donations shall be recorded by the Finance Department. The value of such <br />gift/donation shall be based upon its face value, or if no value is determined, it <br />shall be the agreed upon fair market value by the City and the donor/giver. If no <br />agreement can be reached the City shall determine such value. The donor/giver <br />shall be given a receipt for such gift/donation. <br /> <br />Should there be any question as to the acceptability of a gift/donation or <br />fundraising activity, the City Manager or designee, shall consult the legal <br />department before any donation/gift is accepted or any fundraising activity takes <br />place. Any gift over $10,000 shall require City Commission approval. The City <br />Commission may approve in other instances where a gift is under $10,000 and <br />the donor wants recognition, or the donor is a City vendor. <br /> <br />IV. ACCOUNTING AND RECORD KEEPING <br /> <br />The responsible Department with the assistance of the Finance Department for the <br />City shall maintain written records that provide an audit trail for receipt of all <br />gifts/donations and fund raising activities herein. The requisite Department shall <br />also comply with the following: <br /> <br />. The value of all real, personal, tangible or intangible gifts/donations shall be <br />recorded by City personnel and properly recorded as specified by the Finance <br />Department. <br />. A full record of all gifts/donations and or fund raising activities including company <br />name, person, entity, type of gift/donation or activity, amount and disposition of <br />such gift/donation, shall be kept up to date together with all requirements of year <br />end reporting. <br />. All funds, products, services, gifts/donations and in kind services/gifts/donations <br />and or fund raising activities shall be used or done in accordance with that which <br />was stipulated at the time of such gift/donation or activity. <br /> <br />Sponsorships and Advertisement Policy Guidelines <br />City of Sunny Isles Beach, Florida <br />April 19, 2007 <br />- 7- <br />