Contents of the Treasurer’s File
A complete treasurer’s file should contain the following:
- All auditors reports
- Budget
- Bylaws and standing rules
- Correspondence
- District-specific information
- Employee records, current
- Federal Employer Identification Number (EIN)
- Corporate number and California State Franchise Tax Board number, if applicable
- Annual financial reports
- Monthly financial reports
- Remittance forms to council and/or district
- Workers’ Compensation Annual Payroll Report
- National PTA Annual Resources for PTAs,Money Matters
- California State PTA Toolkit (Section 5, Finance,215-254)
- Recommendations for successor
Records Retention Schedule
It is very important that certain records be retained. Listed here are items that must be reviewed on a periodic basis and kept in a safe place. Develop a records retention policy based on this list.
PERMANENT STORAGE
Annual audit reports
Articles of Incorporation
Canceled checks for important transactions (e.g., taxes, contracts).
Checks should be filed with papers pertaining to each transaction
Corporation reports filed with the Secretary of State
Legal correspondence
Group exemption documents
Insurance records:
- Accident reports
- Claims
- Employee Acknowledgement Forms
- Policies
Ledgers
Minutes of executive board, association and committees (bound)
PTA Charter
Tax documents:
- Exempt status
- Group exemption
- Letter assigning IRS Employer Identification Number (EIN)(Employer Identification Number 5.6.9, 238)
- State and federal tax forms, as filed
Correspondence with state or federal agencies
Trade mark registrations
10 YEARS
Financial statements (year-end) and budgets
Grant award letters of agreement
7 YEARS
Payment authorization and expense forms (receipts attached) for payments to vendors or reimbursement to officers
Cash receipt records
Checks (other than those listed for permanent retention)
Expired contracts and leases
Insurance incident reports
Invoices
Purchase orders
Sales records
3 YEARS
General correspondence
Employee records (post-termination)
Employment applications
Petty cash vouchers
1 YEAR
Bank reconciliations
Correspondence with customers or vendors if non-contested
Duplicate deposit slips
Current Bylaws, approved by state parliamentarian
Standing Rules
Certificates of Insurance
Inventories of products and materials, updated yearly