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A monthly report must reflect the duties of a financial secretary, as assigned in the bylaws, and must include

• itemized listing of receipts;
• itemized listing of deposits; and
• itemized listing of Authorizations for Payment (if assigned that responsibility).

See Financial Secretary’s Report.

The Unit Remittance Form accompanies all per capita dues, insurance late fees, freewill offerings and other payments submitted through channels. Most of these payments will be remitted by the district PTA to the California State PTA office.

See Unit Remittance Form.

A written request for payment of an expenditure or reimbursement is required. The bottom of the form records the date the expenditure was authorized in the minutes and is signed by the president and secretary.

See Payment Authorization/Request for Reimbursement.

Complete treasurer’s records should contain the following:

• Financial reviewer’s reports, checklists and recommendations for current and one prior year
• Budget and budget versus actuals reports and updates
• Bylaws and standing rules
• Certificate of Insurance
• Copy of Insurance Guide
• Copy of current Letter of Determination for Tax Exemption
• Correspondence
• District-specific information
• Employee records, current
• Federal Employer Identification Number (EIN)
• Copies of tax filings
• Information sheet listing the name, address and phone number of all financial institutions used, along with any passwords and information pertaining to computerized records.
• Corporate number, if applicable; California State Franchise Tax Board entity number, and Attorney General Charitable tax number.
• Annual financial reports
• Monthly financial reports (including treasurer’s reports and financial secretary’s reports)
• Financial ledger (may be kept electronically) and checkbook register(s)
• Remittance forms to council and/or district PTAs
• Workers’ Compensation Annual Payroll Report
• California State PTA Toolkit, Finance, and Forms, and Job Descriptions
• Recommendations for successor

When there is no financial secretary, complete treasurer’s records also include:

• Bank statements and reconciliations (reviewed and signed by non-check signer)
• Completed Cash Verification Forms with supporting documentation and bank deposit slips attached
• Completed Payment Authorization Forms with receipts attached
• Completed EFT/Bank Bill Payment Authorization Forms with supporting documentation attached
• Completed Authorizations to Transfer Funds Between Accounts with supporting documentation attached
• Voided checks

For each bank account, record in a secure location the account number, place of deposit, and elected officers authorized to sign on the account. If a manual ledger is used, write inside the front cover of the treasurer’s book. Keep the checkbook in a safe place. Ensure that the secretary records the elected officers authorized to sign on the account in the minutes of the association election meeting or whenever the executive board fills a vacant position.

All supplies listed below are legitimate PTA expenses, reimbursable upon approval of the executive board.

Bank Deposit Book

Bank Deposit Slips

Checks: Imprinted with the legal name of association, address, two signature lines, and the following wording: “Void if not cashed within 90 days” and, “Two signatures required.”

Deposit Stamp: Includes “For Deposit Only,” name of PTA and account number.

File or Envelope: For filing bills and receipts.

Locking Money Box or Safe: For temporary holding of cash.

Numbered Receipt Book: A numbered invoice book may also be useful.

Portable File or Binder: To hold treasurer’s current records.

Storage Box: To hold treasurer’s records not in current use.

Treasurer’s Book (Ledger Book): Used to keep track of all transactions (Ledger Sample). May be kept electronically instead.

Payment Authorization/Request for Reimbursement Forms: Written requests for an expenditure or reimbursement (Payment Authorization/Request for Reimbursement Form).

Cash Verification Forms: Used by at least two PTA members when counting monies to verify cash and checks received.

Accounting/Financial Software: May be purchased outright or licensed yearly.

USB/Flash Drives: To store backup copies of financial records and documents and/or transfer files to successors.

Financial records may be kept on a computer, or be web-based such as MyPTEZ, providing PTA procedures are followed and a backup copy of all electronic records is maintained. It is strongly recommended that a monthly printed record is kept in a permanent binder. The supporting documents for computer-based accounting systems are the same as for manual systems; only the process for recording transactions is different. Sample financial reports are listed as Figures F-1 through F-10 or can be found in the Forms section of the Toolkit. All of the elements in the sample forms must be reflected in any computer-generated report used by the association.

Before using a computer consider the following:

• The records must be such that the next financial officer will be able to continue with the record-keeping on the same computer program, a compatible computer program, or by hand.
• The PTA must purchase/license the financial program to be used, so future financial officers will have access to the program.
• The association must agree on software used.
• All ledgers, check registers, cash disbursements, and other yearlong registers need to be bound together for storage. Refer to the records retention schedule.

Detailed records of monies received by the association are required. The cash verification form provides written proof that association funds were counted by at least two members, one of whom is an officer or the committee chairman. Copies of the signed forms must be kept by all counters listed on the form.

See Cash Verification Form.

reports and forms

Keep permanent books of account and records that shall be sufficient to establish the association’s gross income, receipts and disbursements of the association, including specifically the number of members, the dues collected from the members and amount of dues remitted through channels to California State PTA. Such books of account and records shall at all reasonable times be open to inspection by an authorized representative of California State PTA.

Chair the budget committee and prepare the budget for adoption by the association (Developing the Budget).

Contact the bank to update all checking and savings account signature cards on file with the bank immediately upon taking office.

Receive all monies from the financial secretary or from other volunteers counting monies received. (The person turning monies over to the treasurer shall keep a copy of the Cash Verification Form signed by the treasurer.)

Deposit all monies immediately in the name of the association in a bank approved by the executive board.

Receive and retain a copy of the deposit slip for any deposit made.

Pay all bills as authorized by the executive board or the association upon receipt of payment authorization signed by the recording secretary and the president.

Secure two signatures on all checks. Including the president and treasurer, any two elected officers are authorized to sign, with the exception of the secretary and financial reviewer. The authorized signers shall not be related by blood or marriage or reside in the same household. Refer to bylaws to determine who is authorized within the unit, council or district PTA.

Maintain checkbook register(s) showing all transactions as they occur, so that account balances shown are current.

Keep an accurate record of receipts and disbursements in a ledger, which is a permanent record of the PTA (Records Retention Schedule).

Reconcile bank statements with the ledger monthly. Ensure that statements and reconciliations are reviewed and signed monthly by a non-check signer.

Keep the membership informed of expenditures as they relate to the budget adopted by the association.

Remit all council, district, State and National portions of per capita dues monthly to the financial officer of the council/district (Unit Remittance Form; Membership Dues). Care should be made in calculating membership per capita forwarded through channels; once submitted, the funds are non-refundable and will not be credited for a future year. No remittance is made for memberships received through the California State PTA E-membership program.

Prepare and present a Treasurer’s Report at every meeting of the association and executive board and at other times when requested by the association.

Complete all necessary report forms required by California State PTA for insurance, and file all tax returns and other forms required by government agencies (Tax Requirements) and upload same to MyPTEZ.

Present a year-end Annual Financial Report to the association that includes gross receipts and disbursements for the year.

Prepare a comparative budget versus actual revenues and expenditures report at least quarterly.

Upload adopted budgets, annual financial reports, financial review reports (including financial review checklists and recommendations), and tax returns to the document retention system.

Maintain continuous and direct communication with the president regarding finances. Advise board members of the status of the treasury and their individual budgets.

Budget for proposed programs with information provided by the program committee chairman.

Be aware of due dates for all financial transactions.

Attend the California State PTA convention finance workshops.

Attend council and district PTA workshops and trainings, when scheduled.

If the PTA has a bulk mail permit, verify funds are maintained in the account.

Assist auditor to become familiar with the record-keeping system.

UPON ELECTION/MARCH/APRIL

President-elect appoints the budget committee to develop the budget based on proposed PTA programs for the upcoming year.

Treasurer-elect chairs budget committee.

Board-elect adopts preliminary budget.

MAY/JUNE

Present proposed budget for adoption to the current executive board and the membership at the last PTA meeting of the year.

Association approves and releases any funds required prior to the next association meeting in the fall. This allows the board-elect the ability to cover routine summer expenses as outlined in the bylaws.

AUGUST/SEPTEMBER

Re-present budget to association for adoption at its first meeting. Release any funds required prior to the next association meeting.

Send approved audit and year-end financial report and current year budget to council or district as directed.

Send the first remittance of per capita dues through PTA channels. Send dues as received and at least monthly thereafter.

OCTOBER

Prepare tax forms and file as required. Forward copies of tax returns to council or district as directed (Tax Requirements).

Send checks for insurance premiums through channels.

Send checks directly to the council or, if out of council, to the district, by the appropriate council or district deadline. The premium must be forwarded through PTA channels to be received in the California State PTA office by December 20, or a late fee of $25 will be assessed by the California State PTA.

NOVEMBER/DECEMBER

Send per capita dues through channels. Send dues as received and at least monthly thereafter.

Balance membership totals with council and district membership reports.

Prepare books and financial records for the midyear audit.

JANUARY

Submit books and financial records for mid-year audit, as specified in the bylaws.

Present budget versus actual report to the executive board and association and revise budget if necessary.

Ensure that Workers’ Compensation form and additional premium, if required, have been forwarded through channels by the appropriate due dates.

FEBRUARY

Send Founders Day freewill offering through channels to district PTA, when collected. The event may be held during a month other than February.

Register for convention.

MARCH

Ensure all per capita dues have been forwarded through channels.

APRIL

Issue convention checks for authorized expenditures for elected delegates.

Begin transitioning with newly elected financial officers.

MAY/JUNE

Attend workshops for financial officers, when offered.

Submit books and financial records to outgoing auditor for end-of-term audit, as stipulated in the bylaws (after close of fiscal year).

Give financial records and materials to the incoming financial officer (except those in audit).

Obtain new bank account signature cards to assist incoming officers. The treasurer-elect should contact the bank to determine the requirements for changing authorized signers.

Prepare Annual Financial Report that reflects the fiscal year and term of office, if different. Prepare and file tax returns (end of fiscal year). The fiscal year is listed in the bylaws or on previous tax returns. The recommended fiscal year is July 1 to June 30.

Ensure all per capita dues have been forwarded through channels so that there are no audit exceptions.

Other pertinent dates should be added (or adjusted) to the calendar to meet time frames specific to each PTA and fiscal year.

 

When there is no financial secretary, these duties may be assigned to the treasurer or another officer.

Give a receipt for all monies received for the association and remit at once to the treasurer or deposit immediately in a bank approved by the executive board. Give a copy of the deposit slip to the treasurer.

Keep an accurate record of all receipts and payment authorizations for the treasurer’s financial records.

Prepare all payment authorizations as approved by the executive board or the association (if required by the bylaws).

Prepare and present a Financial Secretary’s Report at association and executive board meetings and at other times when requested by the association. The report must include an accurate record of all receipts, deposits and authorizations for payment.

Report all funds deposited to the treasurer. These totals shall be included in the Annual Financial Report to the association.

Perform such other duties as may be delegated to the financial secretary by the president or treasurer.

Attend the California State PTA convention finance workshops.

Attend council or district PTA workshops and trainings, when scheduled.