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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.
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All officers and
chairmen who deal with money should be bonded.
Contact Texas PTA for a suggested vendor.
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An audit must be done
yearly (see
local unit bylaws) and before changing signatures at the
bank.
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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.
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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.
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PTA monies should never
be deposited in a personal or school account;
personal or school monies should never be deposited in a PTA
account.
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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.
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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.
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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.
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Authorized signers on
the checking account should NEVER sign a blank check.
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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.
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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.
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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.
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Every president should
see the monthly bank statement.
As well as other officers and chairmen should be reviewing
the monthly bank statement periodically.
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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.
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Texas PTA ($1.75) and
National PTA ($2.25) 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.
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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.
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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.
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Yearly budget will
include all monies expected from fundraising activities and
expenditures from plans of work.
This should be a balanced budget.
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Checks for deposit can be
copied instead of listing into a ledger especially for those
units with lots of deposits into the PTA account.
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Checks for fundraising
activities should be traceable to who turned in the order.
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Procedures should be
established by the PTA and in their standing rules regarding
collection of bad checks.
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Each local PTA should
obtain adequate insurance protection against liability and
financial loss due to fraud, embezzlement, or dishonest acts.
