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#1
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Discounts
Do we still have to count the donations in our total money used for the robot?
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#2
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Re: Discounts
Donations of cash used to buy parts, yes. Donations of just parts, not usually.
EDIT: I should say, machined/fabricated parts that are donated are not usually counted (although some argue that the "fair market value" applies to those parts as well). Last edited by asid61 : 02-02-2016 at 21:08. |
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#3
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Re: Discounts
You usually have to determine a fair market value for all the parts on your robot even if it's just guess work. So if a parent donated all the aluminum for our robot, we cannot list it as free. We must determine the fair market value of what it would cost to purchase said aluminum used on our robot and mark it as such in our BOM. 1678 will often pull prices from McMaster if we don't have better records of the cost of something we got long ago or scavenged.
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#4
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Re: Discounts
Quote:
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#5
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Re: Discounts
As others have said you have to follow the cost accounting rules. Rather or not the parts are donated or bought with donated funds is immaterial. The rules that decides what is a sponsor and who is a "sponsor member of the team" are so vague I don't know what kind of documentation an inspector could require.
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