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Company description::
Miami, February 26, 2004 – As school administrators continue their struggle to manage ongoing operating deficits, additional financial pressure is now being placed in the form of “snack food audits” as the removal of vending machines is contemplated as a way to combat student obesity. Vending machine commission revenues paid to the schools are an important source of funding for extra-curriculum activities ranging from art and science clubs to marching bands.
While administrators, legislators and school districts are conducting “snack food audits”, what’s being missed throughout the vending debate is the fact that there is no accountability systems used to verify that the commission earned is actually paid in full.
According to Vend Audit Controls, a survey of more than 100 school systems showed only a single school district having any controls whatsoever. “These schools just don’t have the resources, funding, and/or expertise to necessary to manage and monitor this income source, and the vending providers who serve them are very much aware of this. Over a period of years, these dollars add up, ultimately representing amounts in the six, even seven digit figures. It is very easy for a school district to be taken advantage of”, said Jeff Stubins, founder and president of Vend Audit Controls.
Vend Audit Controls offers a simple solution for schools wishing to fully evaluate their vend operations and comply with local school board regulations by performing a financial check-up or a VendCheck – a third party audit of vending revenues and commissions.
“If there was ever a time to become fiscally responsible, this would be that time. Besides, our services are contingency-based. If we do not recover additional income for the school, there is no fee for our service and the client knows that they have been treated fairly by the vend operators who serve them. ” said Stubins.
Vend Audit Controls’ VendCheck solution provides independent verification to ensure proper calculations of income and commissions. Prior to VendCheck, schools and other vending clients were forced either to rely on trust, or conduct time-consuming and complicated manual audits. VendChecks are conducted by experts from both vending and accounting disciplines. ‘If there is money to recover, we will find it.”, said Stubins.
Getting Started on a VendCheck is Simple.
Whether a single school with a handful of machines or a school district with hundreds or even thousands of machines and dozens of vendors, implementing a VendCheck is surprisingly easy.
All a school has to do is to contact Vend Audit Controls (www.vendauditcontrols.com) and we do the rest. Upon completion of a review, we will determine to what extent a client is owed additional commissions and we will take whatever steps are necessary to recover this income.
Benefits of a VendCheck
In addition to newfound dollars generated from a VendCheck, the program yields many other dividends:
• The principal and staff win by demonstrating high standards of accountability
• Auditing, operations, purchasing and food service department heads win through
the creation of a complete audit trail for the handling of this income stream.
• The school district wins by ensuring financial oversight, and compliance with local regulations regarding auditing of school revenues
• And MOST OF ALL, the students win through the continuation of the extra-curricular programs they enjoy
What’s more, a school’s proactive efforts to improve efficiency and extend budget will surely be recognized by others in the local community, including the press.
About Vend Audit Controls and its Founder
Vend Audit Controls clients and target prospects include school systems, major retailers, government facilities, managed accounts, and other high volume vending sites. For more information please visit www.vendauditcontrols.com
For over 30 years, Stubins managed a successful vending operation that was in his family for over 50 years. In 2001, he sold his business to begin Vend Audit Controls. As an operator, he developed and was a beta-test site for multiple vending accounting systems. Stubins was a long-term participant in the National Automatic Merchandising Association (NAMA), and a past president of the Automated Merchandising Association of Florida (AMAF).
Press Contact:
Alec J. Rosen
786.457.6680
alecjr@ajrpartners.com
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