Treasurer Basics

At the first board meeting of the new board…

  • remove old check signers effective June 30 with a motion
  • add new check signers effective July 1 with a motion

At the bank…

  • present an official copy of board meeting minutes showing above motions
  • new check signers should present identification and be added as authorized signers on the account

Develop a Budget…

  • Budget Committee should meet and create a draft budget
  • Budget is presented and approved at Board Meeting and Association Meeting

Check that the outgoing Treasurer…

  • has completed an Annual Financial Report
  • given the books to the Auditor to complete the Year-End Audit
  • has filed the applicable IRS Form 990, California Form 199 and California Form RRF-1
  • forward copies of the Annual Financial Report, Year-End Audit, tax filings and Budget to the District Treasurer

Set up your financial books…

  • decide what kind of ledger to use
  • organize a binder to keep all required documents. See page 2 of the Audit Form
  • train your unit officers/chairmen on the use of the Cash Verification Form and how to count cash
  • train your unit officers/chairmen on how to fill out the Payment Authorization Form to request reimbursement of expenses
  • arrange for a non-check signer to review bank statement monthly

Plan to attend Fall Officer Training provided by District PTA

At the first Association Meeting…

  • present the Annual Financial Report, Year-End Audit and new Budget for adoption
  • present all of the Treasurer’s Reports and ask for ratification of all checks written since the last Association Meeting

At Board Meetings…

  • prepare a Treasurer Report for every meeting after balancing to the bank statement
  • prepare a Budget to Actual comparison report at every meeting
  • ask for ratification of all checks written since the last meeting

Forward remittances to the District Treasurer…

  • membership per capita ($4.75 per member) – send MONTHLY
  • insurance premium and Workers Compensation Form by the due dates
  • other fees and/or charges when invoiced

Make sure your PTA financial activities are transparent!