Handling PTA Funds

All revenue and receipts must be counted and deposited in the bank immediately after the completion of an activity. At least two PTA members, one of whom should be an officer or a chairman, must count the monies received. The people counting the money shall not be related by blood, marriage, or cohabitation. Do not publicize the place where money is to be counted.

Have all those involved in counting money verify the total and sign the Cash Verification Form. This form is a safeguard when volunteers are handling PTA funds (Cash Verification Form). Copies of cash verification forms or receipts must be given to the event chairman for documentation in his/her activity report. The totals must match the monies deposited for the activity.

The treasurer or financial secretary shall deposit the money immediately in the bank. If immediate deposit or night drop is not possible, plan for the safekeeping of money until it is deposited in the bank. Never take money home. For ongoing fundraisers or when money is coming in daily, the money should be deposited daily in the PTA’s bank account.

Never deposit any money in anyone’s personal account or in the school account. Never leave money unattended, in someone’s home or in the trunk of a car (Deposits).

Simple procedures for counting money can keep the PTA safe and ensure accurate reporting of receipts to the membership. If money is collected when the banks are not open, make plans with the bank for a night deposit or with the school principal to use the school safe. Be sure that the amount is documented prior to depositing it in the school safe or lockbox. The documented deposit should be placed in a sealed envelope signed by a school administrator and verified by two authorized PTA representatives. Each party handling the money should count, sign and receive a copy of the Cash Verification form. Any funds kept in a safe or lockbox must be recounted by at least two people (including at least one PTA officer or chairman) immediately upon being removed from the safe/lockbox and prior to the funds being deposited at the bank. This is required even if the deposit envelope is still sealed and appears undisturbed.

Depending upon the community, a police or sheriff escort to the bank may be provided on request.

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