Financial Review Report

Prepare an Financial Review Report, including recommendations, for each bank account or savings account. The form should list the account bank, branch address and account number. The report is presented as follows:

  • Unless mismanagement is uncovered, the financial review and recommendations are presented to the treasurer and president.
  • The report(s) and recommendations are then presented to, and the report adopted by, the executive board.
  • The report(s) is then presented to the association for adoption. After the financial review report is adopted by the association, the report(s), checklist and recommendations are uploaded to the document retention system in accordance with the bylaws.

When called upon, at the association meeting read only the statement “I/The financial reviewer/financial review committee has/have examined the records of the treasurer (and financial secretary) of _____ PTA and find them

  • to be correct,
  • to be correct with the following recommendations, or
  • to be substantially correct with recommendations, or
  • to be partially correct but more adequate accounting procedures are needed so that a more thorough financial review report can be given, or
  • to be incorrect.”

The financial reviewer, or in the case of a financial review committee, each committee member, must sign the report. If there were recommendations, the president should state that the treasurer and executive board is or will be addressing the issues. The financial review report is adopted by the association with the motion, “I move that the audit report be adopted.”

Whenever questions are raised by the membership, the president should appoint a committee to look into the concerns and report back to the association at the next meeting.

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