Vend Audit Controls Announces VendCheck Management Workshops for Public School Districts To Manage Vending Contracts

VendCheck Workshops to Teach How to Properly Manage, Budget And Account For Vending Contracts And Commissions

Miami, FL March 19, 2004--Vend Audit Controls, a vending machine income review and monitoring service firm, announced today that the company is launching VendCheck Management workshops, designed for public school officials, including auditors and school treasurers/bookkeepers, college auxiliary personnel, and others who are charged with managing the fiduciary responsibilities of their vending refreshment program.

A recent Vend Audit Control survey found that schools and/or school districts found do not have the proper controls in place to verify that their commission rebates are being accurately remitted. Over a period of years, these losses can add up to hundred of thousands of dollars, and in larger school districts, even million dollar-plus underpayments. The survey also verified that these vending machine commission revenues are a critical source of funding for school-based programs that directly benefit students.

VendCheck Management was created to help educate school administrators on how to implement practical financial controls on an income source that today, has no controls, said Jeff Stubins, president and founder of Vend Audit Controls. As school administrators nationwide are now forced to focus on the nutritional aspects of their vending programs, they are also realizing that they have very poor controls in place for revenue accountability. Many are now asking us for help.

The curriculum of VendCheck Management will focus on how to better understand the contract now in place, and the steps school officials must take to maximize and recover their earned income. In many cases, the course will be offered at no charge to qualified participants, and will cover the following topics:

    The Vending Contract
o    Learn what helps you, what hurts you and what must be changed in order to protect your institution and its income.
    Contract review
o    Understand your auditing rights and vendor obligations from the contracts now in place.
    Vending financial management
o    Learn how to independently verify commissions due.
o    Understand R factoring and how it can devastate your income.
o    Creating standards for maximizing sales, and your income.
o    How to self-verify your vending income and still keep your day job.
o    Red flags to look for when your commission statement arrives.
    VendCheck process
o    The proprietary approach that Vend Audit Controls uses to monitor vending contracts and reclaim unpaid commissions

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, Stubins developed and was a beta test site for various vending machine software packages. Stubins was a long-term participant and member of the National Automatic Merchandising Association (NAMA), as well as a founder and past president of the Automated Merchandising Association of Florida (AMAF).