A financially healthy PTA
- Ensures that only authorized check signers (as specified in the bylaws) are on the bank signature card. Removes previously authorized signers from the signature card whenever a resignation occurs or a new term begins.
- Prepares and presents monthly treasurer reports, budget-to-actual comparative reports, financial secretary reports, committee reports and financial review reports at board and association meetings.
- Ensures the proposed programs, fundraisers and budget are approved by the association, funds are released and expenditures are authorized prior to spending funds.
- Only pays bills which have been authorized by the executive board or association.
- Has the bank statements and reconciliations reviewed and signed monthly by a non-check signer; this may be the financial reviewer.
- Conducts at least one financial review annually, in accordance with the bylaws. Semi-annual financial reviews at mid-year and year-end are the best practice. Financial reviews not conducted by a qualified accountant are reviewed by a financial review committee.
- Files the appropriate IRS Form 990annually and all state forms required by due date.
- Conducts a membership campaign throughout the year and remits membership funds not belonging to the association monthly. No remittance is made for memberships received through the California State PTA E-membership program. The per capita (membership funds not belonging to the association) for manual members added to the California State PTA E-membership program is remitted through channels.
- Remits California State PTA insurance premium to the California State PTA insurance broker before December 20th.
- Completes and submits the Workers’ Compensation Annual Payroll Report Form and remits any additional premium to the California State PTA insurance broker no later than January 31st.
- Ensures all monies are counted by two PTA members, one of whom must be an officer or chairman. Cash verification forms are signed by everyone who counts monies. A signed copy of the verification form is kept by each person who participates in the count.
- Issues a receipt for donations (see Providing Documentation to Donors and Donation Receipt).
- Ensures checks, bill payments/electronic funds transfer authorizations and transfers between bank accounts are signed by two authorized check signers.
- Ensures officers receive training at convention, state, district, and/or council PTA workshops.
