Financial Management for all PTA Officers & Chairmen

Money matters are crucial.  We are accountable to our members and statute law.  All treasurers, other officers and chairmen should be familiar with and observe the following guidelines recommended by Texas PTA.

1. The PTA general membership must authorize the expenditure of all funds and the raising of all funds.  Before a new fiscal year begins a budget must be adopted.  It can be amended during the year as needed by a 2/3’s vote of the membership.

2. All officers and chairmen who deal with money should be bonded.  Contact Texas PTA for a suggested vendor.

3. An audit must be done yearly (see local unit bylaws) and before changing signatures at the bank.

4. When changing or adding signatures on a PTA checking account, two of three current signers must take the minutes from the meeting recording the election of new officers (or an approved motion to add or delete a signature) and to in person to the bank with the new signers.

5. Cash and checks should be counted by at least two persons during any fundraising event or activity at which the PTA receives money.  Both counters should sign receipt forms (Texas PTA has some available for purchase or see attached) and copies are given to the officer/chair and treasurer.  Deposit receipts go to the treasurer.

6. PTA monies should never be deposited in a personal or school account; personal or school monies should never be deposited in a PTA account.

7. PTA cash should never be kept at home, in an officer’s vehicle, PTA room, or school vault.  PTA money should be deposited immediately.  Utilize the night deposit at the bank where the PTA account is held.

8. All monies and checks received for PTA fundraisers and projects should be deposited promptly in the PTA account.  Identify on the check memo the child or teacher name for ease in locating.

9. All bills incurred by a PTA unit must be paid by check never cash.  Receipts for goods or services must be submitted for payment or reimbursement.

10. Authorized signers on the checking account should NEVER sign a blank check.

11. PTA officers/chairmen asked to handle a purchase should never be given cash in advance to pay for the purchase.  Unless a PTA check is being used for the purchase, the treasurer should always reimburse after a receipt is presented.  All receipts should be kept in the unit’s financial records.

12. Money should NEVER be “turned over” to the school and/or principal to spend at their discretion.  See Treasurer’s Guide for sample forms that can be used to make a designated donation to the school for a specific person.

13. A financial report should be given by the treasurer at every PTA meeting, noting the beginning balance, deposits, expenditures, and ending balance.  You are accountable to your members.

14. Every president should see the monthly bank statement.  As well as other officers and chairmen should be reviewing the monthly bank statement periodically.

15. Texas and National PTA portions of dues must be remitted to the Texas PTA office on a weekly basis.  Units must observe the reporting deadlines to be a unit in good standing.  Members should expect their dues to be remitted to the Texas PTA office within five (5) days of paying dues to be a member in good standing with the local unit.

16. Texas PTA ($1.25) and National PTA ($1.75) portions of dues must be collected from every individual who joins a local PTA unit.  Honorary Texas Life Members are exempt from paying the Texas portion of dues in only one PTA unit yearly.

17. In order to determine the amount of dues to collect see local unit bylaws Article VI.  Section 6 and add all three dues amount together.

18. Each officer and chairman must submit a plan of work (POW) to the PTA executive board for approval before undertaking any project.  A budget for each must be submitted at the same time.  Plans of Work may be amended as needed during the year, just like the budget.

19. Yearly budget will include all monies expected from fundraising activities and expenditures from plans of work.  This should be a balanced budget.

20. Checks for deposit can be copied instead of listing into a ledger especially for those units with lots of deposits into the PTA account.

21. Checks for fundraising activities should be traceable to who turned in the order.

22. Procedures should be established by the PTA and in their standing rules regarding collection of bad checks.

23. Each local PTA should obtain adequate insurance protection against liability and financial loss due to fraud, embezzlement, or dishonest acts.

			Downloads

These forms are all in Microsoft Word (doc) format for download. You will need your username and password (located on the back of your membership card) to access these forms.  For questions regarding the treasurer position, please contact Council Treasurer Karen Pynes.

• Itemized Receipt Form
• Sample for Collection of a Returned Check
• Sales Tax Status
• PTA Reimbursement Voucher-Deposit
• Report of Fund Raising Activities
• IRS Reporting Form
• Tax Exempt Form
• Audit Committee Checklist
• Sample Audit Report

			Questions? We want to hear from you. Contact us!