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Well I don't do the school yard, cos I don't have any rug rats ... but that's usually the Parents' Associations big annual fund raiser, no?
Hire a tent, band, caterers ... sell tickets to the parents and their friends, have a raffle, and an auction (auction items kindly donated), game of tops and tails, licensed bar which shares the profit with the Parents' Association, all the kids make things at school which their own parents buy on the night, etc, etc, etc ...
Im sure the Ball is always the biggest annual fundraiser for most schools.