1. PTA Treasurer Training Pam Grigorian pam.grigorian@comcast.net August 20, 2015

2. Reminders Processing Payments Checks should never be written out to cash Checks should always have two signatures Check Request needs to be filed out completely with original receipts attached for every check written Never use a debit card Processing Deposits Two others should always count the money Treasurer is the 3 rd counter Make sure the Cash verification form is completely filled out for every deposit made Attach a listing of the name, check # and amount to the cash verification form If copying checks, mark out the checking account information since this is part of the permanent records Make deposits within a reasonable time not two weeks later

3. Electronic Banking For Receipt of Funds only Authorized signers should have access to Paypal or merchant services account Funds must be transferred at least weekly in the checking account by the Treasurer Transactions should be reconciled and signed by two individual using a cash verification form Fees can be passed to the customer on a percentage or a flat fee

4. Electronic Banking- Refunds Reversals and refunds cannot be processed through the merchant services account A check request form must be completed with documentation as to why the credit is requested A credit must be paid via check Fees for the merchant services should be a separate account on your budget and treasurer’s report

5. Membership The GA PTA portion of your membership should be in a liability account and not listed as income or expense on your reports. Your balance should equal 3.75 times the amount of PTA members you have When you write a check to GA PTA for membership it should then be zero A check should be written at the end of every month for membership with the dues transmittal form The membership chair and the treasurer should compare their numbers of membership so they match. Award forms must be postmarked by the last business day of the month

6. Bank Reconciliation The checking account should be reconciled at the end of each month A copy of the bank statement that includes check images along with bank reconciliation report should be printed out every month The treasurer, president and one non-check signer should review the bank reconciliation and bank statement and sign it every month Very Important because your insurance will be void if this procedure is not followed

7. Meetings Monthly Board of Directors meetings – Present a written detailed Treasurer’s Report – Include the cash balance General Membership Meetings – Present a written detailed Treasurer’s Report – Present the revised budget for vote Should be revising the budget every general membership meeting

8. Audit and 990 Audit should already be done for last year A copy must be sent to GA PTA as well as the Forsyth County Council You need to make sure that the 990N, 990EZ or 990 has been filed or will be filed. It is due every year by the 15 th day of the 5 month after the close of your tax year For example if your tax year ends 5/31, the return is due on Oct 15 If not done they affect your “In Good Standing” with GA PTA as well as the IRS

9. Incorporation and and Council Dues Every local unit was originally incorporated by GA PTA Every year local units must pay an incorporation fee to GA PTA in the amount $30 around November to January time frame Dues to Forsyth County Council in the amount of 175 are due by Sept 30. You will be receiving an invoice via e-mail or hard copy

10. Insurance Every local unit should have insurance You must consider these types of insurance – Accident Medical – Fidelity Bond – Office Liability – General liability – Property Insurance

11. Insurance Please see the AIM playlist of Events Those items with Pause need to be looked out to see if you have enough coverage when hosting Certain events are not covered Fidelity Bond Coverage is voided for the following reasons – PTA must conduct an annual audit of the books – The monthly bank statement must be reviewed by someone not authorized to sign checks

12. Budget You should already have a budget for the year It should be already or in the new future be voted on my the general membership You may need to be adjusted every membership meeting since it is just an estimate of expected income and expenses

13. Organization of Records A lot of the information you have will be retained either permanently or for at least 7 years Need a binder and maybe a box to fit all your records in. Records need to be kept neat and organized Check request form should be filed in check number sequence Cash Verification forms should be filed in date sequence Treasurer Reports should be filed in date sequence Bank Reconciliations with bank statements should be filed in date sequence Board minutes should be filed in date sequence Always need blank check request forms or check verification forms

14. Permanent Binder Current Bylaws Annual Audit Reports All 990s Contracts Letter assigning EIN number Bank Information State letter of determination of tax-exempt status Insurance Incorporation

15. Miscellaneous Information If buying to resale, tax exempt If buying to use, need to pay sales tax Make sure an audit or audit committee is in place before school ends Read the new Leadership Resource Guide which has a lot of new information in it Websites for information – www.georgiapta.org www.georgiapta.org – www.forsythcountypta.com www.forsythcountypta.com – www.pta.org www.pta.org E-Learning Treasurers