Yes....and works...Where does it say in the Torah,(am I calling that right, I don't want to insult your faith), that sacrifices are about giving up things of value, and money is ok to substitute for blood?Sacrifices were about giving up things of value either as charity or pennace. Because few of us are farmers of ranchers any more what we sacrifice now is money.
I actually had a great discussion with a Chabad rabbi about this, but just looking I didn't save it. I actually started the cookies and cupcakes as a form of mandated charity. Rather than sacrifice money as money, I give 'food.'