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Treasury Tips:

#1 Use vouchers for expenses and remittances. (Click here for samples.) This will ensure that all expenses are approved, and at least two people are counting the money.

#2 Have bank statements mailed to the president, so that at least two sets of eyes are checking them.

#3 Prepare and present a monthly variance report for every meeting. Report must be entered into the meeting minutes. Present verbal summary and distribute a detailed report in writing.

#4 Conduct monthly reconciliations and enter the report into the minutes – this should be done by someone who is not a signatory on the bank account. REQUIRED FOR INSURANCE POLICY.

#5 Prepare a budget based on what your unit wants to accomplish. Raise funds to cover those items, not just for the sake of fundraising.

#6 Check monthly that budget lines are not being exceeded; a motion should be made and a vote taken on any necessary amendments.

#7 Make deposits immediately – do not hold on to PTA money.

#8 All PTA checks require 2 signatures, and no one should sign a check to themselves. So make sure that you have at least 3 authorized, non-related signatories on the bank account.

#9 Keep records! Click here for record keeping requirements.

#10 File your 990 Form every year, regardless of income, with the IRS any time after the close of the fiscal year (June 30) but no later than the deadline of November 15. Click here to see which form your unit should file.

Have questions about how to handle a 5th or 6th grade committee and fundraising events?
Click here for guidance from the NYS PTA Treasurer.

 Treasurer’s Timeline

July 1	New treasurer takes over – File new signature cards at bank
July/August	Review unit resources and procedures Prepare budget for presentation to members
September	Budget approval by membership at first meeting
October 31	First membership payment due
November 15	File taxes: 990-N or 990-EZ
Monthly	Treasurer’s reports, Reconcile accounts
Ongoing	Process vouchers, make deposits, pay bills, monitor expenditures, recommend budget changes
April/May	Pay insurance
May	Budget development for next year
May 31	Final membership payment due
June	Annual report
First week of July	Audit PTA records/accounts

 More Information

Need to check your unit’s overall financial health? Here is an all-in-one CHECKLIST to complete each year that will let you know where your unit can improve its financial controls and accountability to your members.	Do we really have to keep all these files for 3 years? 7years? Forever? Maybe! Check HERE to see how long each item needs to be retained.
Running a PTA is actually running a non-profit corporation with all the rules and regulations that entails. Click HERE to read all about the current federal and state requirements.	Need to find out if your next planned activity is safe? Check HERE for the latest Red Light, Yellow Light, Green Light list from the insurance company.
Need a form? Chances are we have a sample HERE that you can adapt for your PTA.	Not sure which form to file with the IRS? Check the chart HERE.
LINKS to Additional Resources