PTA Treasurer Training Pam Grigorian pam.grigorian@comcast.net May 2, 2017

Treasurer Responsibilities Custody of the funds for the PTA/PTO Maintain a full account of the funds of the PTA/PTO Make disbursements as authorized by the president, or Board of Directors according to the budget adopted by the PTA/PTO Maintain a full and accurate account of the receipts and disbursements in the books belonging to the PTA/PTO Be prepared to answer all questions and to have records available at all meetings Provide a written financial statement at each meeting of the general membership, Board of Directors and Executive Committee

Treasurer Responsibilities Present an annual report Have the books examined annually or upon change of treasurer by an auditor or committee Determine the gross receipts from the previous fiscal year and file the appropriate federal tax forms with the IRS

Incoming Treasurer Responsibilities Go to the bank to change the check signers on the account. You should have three if possible. Bring meeting minutes from general meeting election and all signers must have their driver's license. Do not allow the bank to sign you up for a debit card Receiving the books Checks Manual or computerized check register Make sure the audit is in progress and will be finished by August Audit Report findings should be reported to the Board and General Membership PTA’s please send a copy to GA PTA, Forsyth County Council and District 13 – Audit Report is due by Sept 30, 2017 PTO’s please send a copy to the FCS Finance Department

Materials Needed Check book Deposit slips Check Request forms and Cash Verification Forms Financial Software(Quickbooks, PTO software or PTA Avenue) or Excel to maintain a ledger Binder Bank Statements Check Requests and Receipts Cash Verification Forms and Deposit Receipts Treasurer Reports Budget Meeting Minutes Permanent File – IRS Correspondence, 990 Forms and such

Materials Needed Binder Bank Statements Check Requests and Receipts Cash Verification Forms and Deposit Receipts Treasurer Reports Budget Meeting Minutes Permanent File – IRS Correspondence, 990 Forms and such

Incoming Treasurer Summer Duties Process any Deposits Check Verification Forms Two others should be counting the money Treasurer is the 3rd counter not 1st or 2nd Make sure the form is filled out completely Make the deposit within reasonable amount of time, not 2 weeks later Process any Payments Check Request Forms Do not write a check without a check request form and original receipts attached Every check needs two signatures No checks written for cash Do not use a debit card Try not to write a check request to yourself AND sign the actual check

Incoming Treasurer Summer Duties IRS Forms Make sure the 990-N or 990 EZ and Schedule A are filed, and sent registered, return receipt mail. Keep proof of this for Audit book. If a PTA, make sure copies of the 990’s are sent to Georgia PTA AND Forsyth County PTA Offices. Working on the 2016-2017 Budget Use information from last year Communicate with board members to see what the goals are for the year in relations to school needs Must have a balanced budget in place to be voted on in the first general membership meeting

Open House and Event Have cash boxes with cash verification forms Cash boxes should be counted after the event and recorded on the Cash Verification Form by two counters If Using Square or GoPayment or PayPal, print out reports, attach to the cash verification form and sign No one takes the money home Deposit it immediately or within a reasonable amount of time which is not two weeks later

PTA Membership Break out the deposit for membership dues into a liability account (Example “Payable to GA PTA”) Your balance should equal $3.75 times the amount of PTA members you have When you write a check to GA PTA for membership it should then be zero A check should be written at the end of every month for membership with the dues transmittal form The membership chair and the treasurer should compare their numbers of membership so they match.

Bank Reconciliation The checking account should be reconciled at the end of each month A copy of the bank statement that includes check images along with bank reconciliation report should be printed out every month The treasurer, president and one non-check signer should review the bank reconciliation and bank statement and sign it every month

Meetings Monthly Board meetings General Membership Meetings Present a written detailed Treasurer’s Report Present (and vote on) a revised budget when meeting before next General Meeting Include the cash in bank balance General Membership Meetings Present the revised budget for vote Should be revising the budget every general membership meeting

IRS FORMS IRS Forms Due dates Make sure the 990-N or 990 EZ and Schedule A are filed, and sent registered, return receipt mail. Keep proof of this for Audit book. Make sure copies of the 990’s are sent to Georgia PTA AND Forsyth County PTA Offices. Due dates The 990 is due by the 15th day of the 5th month after the end of your accounting period. For example, if your Bylaws state your year ends May May 31st, then the 990 is due by October 15th.