Finance

 

Financial officers are elected to manage the fiscal operations of the unit, council and district PTA. These officers include treasurer (required), financial secretary (optional) and auditor (optional). All unit, council and district PTAs are required to have an auditor who may be elected, appointed, or hired in accordance with bylaws.

Upon assuming office, the incoming treasurer obtains the following from the outgoing treasurer: supplies, ledger, checkbook, tax records, and all other treasurer materials. Each financial officer needs to obtain the procedure book from the previous office holder. Additional materials may be obtained from the bank or purchased from the California State PTA office. The new treasurer must also contact the bank to file new signature cards for checking and savings accounts. Banks may require minutes of the election meeting recording names of new officers.

These items are necessary for the financial operation of the association. When a new unit is established, the treasurer should request assistance from council or district PTA in obtaining them.

The outgoing treasurer cannot pay bills after the books are closed for audit or after the term has ended. Books being audited may not be available immediately. The California State PTA recommends that if the audit is not completed within two (2) weeks after the end of the term of office, the president may appoint a committee to immediately audit the books. The same time frame must be followed for the semi-annual audit. Upon assuming office, the incoming treasurer may pay authorized bills and deposit funds in the PTA bank account before the audit is completed.

Treasurer Duties

Keep permanent records that track gross income, receipts and disbursements of the association, including the number of members, dues collected and the total per capita dues remitted through channels to the California State PTA. These records should be available for inspection by an authorized representative of either the California State PTA or National PTA.

Chair the budget committee and prepare the budget for adoption by the association.

Receive all monies from the financial secretary or from other volunteers counting monies received. Give a receipt. Deposit immediately in the name of the association in a bank approved by the executive board.

Receive and retain a copy of the deposit slip for any deposit made.

Pay all bills as authorized by the executive board or the association and on receipt of payment authorization signed by the president and the recording secretary.

Secure two authorized signatures on all checks. Any two elected officers (with the exception of the secretary and officers related by blood, marriage, or living in the same household) may be authorized to sign checks. Refer to bylaws to determine who is authorized within the unit, council or district PTA.

Keep an accurate record of receipts and disbursements in a ledger, which is a permanent record of the PTA (Records Retention Schedule, 5.1.5, 201).

Report expenditures to the membership as they relate to the budget adopted by the association.

Each month, remit portions of per capita dues through channels (Unit Remittance Form 5.1.7f, 219; Per Capita Dues 3.2.2, 71; Forms 455).

Prepare and present a Treasurer’s Report (Treasurer’s Report 5.1.7f, 218; Forms 417) at every association and executive board meeting. The Treasurer’s Report also should be presented at other times, if requested by the association.

Be responsible for completing and forwarding all necessary report forms required by the California State PTA for insurance and for filing all tax returns and other forms required by government agencies (Tax Requirements 5.7, 239).

Make an Annual Financial Report (Annual Financial Report 5.1.7e, 219; Forms 379) to the association that includes gross receipts and disbursements for the year.

Maintain continuous and direct communication with the president regarding finances. Advise board members of the status of the treasury and their individual budgets.

Obtain information on proposed programs from program committee chairman.

Become aware of deadlines (including postmark dates) for all financial transactions.

All treasurers are encouraged to attend the California State PTA convention finance conferences.

Attend council and district PTA workshops and trainings, when scheduled.

If the PTA has a bulk mail permit, verify funds are maintained in the account.

Financial Secretary Duties

Give a receipt for all monies received for the association and either turn funds over to the treasurer or deposit in the PTA bank account. Give a copy of the deposit slip to the treasurer for the association’s records.

Keep an accurate record of all receipts and payment authorizations for the treasurer’s financial records.

Prepare all payment authorizations as approved by the executive board or the association. Forward authorizations to the president and recording secretary for signatures. Financial secretary also may be a signer.

Prepare and present a Financial Secretary’s Report (Forms 405) at association and executive board meetings and at other times when requested by the association. The report must include an accurate record of all receipts, deposits and authorizations for payment.

Report all funds deposited to the treasurer. These totals should be included in the Annual Financial Report to the association.

Perform such other duties as may be delegated to the financial secretary by the president or treasurer.

All financial secretaries are encouraged to attend the California State PTA convention finance conferences.

Attend PTA district or council workshops and trainings when scheduled.