Treasurer Topics 1 Workshop 2 Teresa Atherley, Utah PTA Treasurer Facebook group: Utah PTA Treasurers

What is Fiduciary Responsibility? Fiduciary (fi-du-ci-ar-y) n. a person who holds something in trust for another; a trustee A one sentence summary of fiduciary responsibility might be “it ain’t your money”! Fiduciary responsibility includes: Duty of care Duty of obedience Duty of loyalty

Duties of the Treasurer Have custody of and be responsible for all funds of the PTA unit Develop, with the executive committee, an annual budget to be approved by the General Membership Keep a full and accurate account of receipts and expenditures of all monies of the PTA unit Count all monies with 3 people present, and deposit all monies in the bank the same day received Make disbursements as authorized, in accordance with the approved budget. Co-sign all checks with the President, President-elect, Secretary. (Not related by blood) Make a monthly remittance of state and national portions of membership dues to Utah PTA Present a Treasurer report at every meeting Make a financial report at the annual meeting, and submit a full written year-end financial statement to the incoming committee no later than June 30 Submit the books after they have been closed for the year for an AFR by an Auditor or an AFR committee.

Have custody of and be responsible for all funds of the PTA unit Maintain the checkbook at all times. Have supporting documentation for every disbursement. Issue checks in number sequence. NO BLANK CHECKS! Detailed documentation for every deposit. No ATM, Debit Cards, or Credit Cards. You can have on-line banking as a READ-ONLY!

Develop, with the executive committee, an annual budget to be approved by the General Membership Prior year financial records Needs Assessment results (If you have not done one now is the time) Input from everyone on your board Approve (Who, When, Where) Amend (WHY?) Carry over (How much $ is good to carry over)

Keep a full and accurate account of receipts and expenditures of all monies of the PTA unit RECEIPTS Funds received form pg 85 Money Counting Sheets pg 89 Check Request Forms pg 93

Count all monies with 3 people present, and deposit all monies in the bank the same day received Use a money counting sheet and have everyone that counted sign the sheet. Pg 89 Count all money with 3 people present at all times. Anyone of the three cannot be related by blood or marriage nor reside in the same household Deposit money on the same day 2 people should take the deposit to the bank. Money should never be taken home or left at the school. Use the bank night drop

Make disbursements as authorized, in accordance with the approved budget. A PTA check should never be written without a completed check request form. Form should include date, payee of the check, the amount, the purpose, and the check number. (This is important for Sales Tax reimbursement purposes) Attach receipts or invoice to the check request form. The person submitting the request should sign it along with the president and treasurer.

Co-sign all checks with the President, President-elect, Secretary. All PTA checks must be signed by TWO AUTHORIZED OFFICERS. The signers may not be related by blood or marriage nor reside in the same household. If making a check to the Treasurer or President they cannot sign their own checks. The Principal and Teacher Rep should NOT sign checks.

Make a monthly remittance of State and National portions of membership dues to Utah PTA Dues are due the 25 th of each month to Utah PTA to be in good standing. If applicable Council Dues are also due monthly.

Present a Treasurer report at every meeting The Treasurer is responsible for making regular financial reports to the PTA officers and to the membership of the PTA Balance from the last report Income since the last report Expenses since the last report Current account balance

Make a financial report at the annual meeting, and submit a full written year-end financial statement to the incoming committee no later than June 30 Show budget at your last annual meeting. Prepare the financial statement for the incoming board and for the AFR Committee or Auditor.

Submit the books after they have been closed for the year for an AFR by an Auditor or an AFR committee. If using an AFR Committee or an auditor they need to be approved at your last general membership meeting. Turn finished AFR and books over to incoming Treasurer as close to July 1 as possible.

Questions?