1. Unit Treasurer Workshop/PTA-Economics
SLA August 2017
Unit Treasurer Workshop/PTA-Economics
Niagara Region PTA Summer Leadership Academy
August 2017

2. Introductions Niagara Region PTA Cindy Ames Tammy Dodge
PTA Participants
SLA August 2017

3. Topics Financial Management Responsibilities Budget Preparation
Treasurer’s Calendar
Treasurer’s Report
Audits
Insurance
Resources
SLA August 2017

4. It’s all about INTERNAL CONTROLS!
Financial Management
No other organizations may pass $ through PTA accounts.
Accurate, consistent record keeping is essential.
All cash should be counted by at least two people before depositing at financial institution, make deposits promptly.
Cash should not be kept at home or in a school vault.
Never deposit PTA money into a non-PTA account.
Always pay bills by check ~ never cash!
It’s all about INTERNAL CONTROLS!
SLA August 2017

5. Financial Management Minimum three signers on all PTA accounts.
Two signers are required on all PTA checks.
Never sign a check written to yourself.
Never sign blank checks.
NYS and National PTA portion of dues are never recorded as unit income and are not included in the gross income on IRS 990.
The PTA General Membership must authorize the expenditure of all funds by approving a budget.
SLA August 2017

6. Responsibilities
Monthly Treasurers Report (Sample on pg 8 Section 5A – Finance & Insurance).
Bookkeeping of PTA account, Balance Bank Statement
Deposit and Expense records
Annual Report to IRS-990 or 990 postcard (due by November 15 of each year for previous fiscal year July 1-June 30
Annual Budget-Chair of Budget Committee
Be available for Audit Committee
SLA August 2017

7. Budget Preparation
Budgets should be prepared by the budget committee, in May or June to allow expenditures to begin July 1.
Budget is required to be approved in order to spend any PTA funds.
Categories may be different from unit to unit, and amendments may be made anytime during the year with general membership approval.
Sample on Page 11 of Section 5 (Finance and Insurance) of the NYS Resource Guide.
SLA August 2017

8. Budget Preparation
Start with your actual numbers from the most recent year.
Consider any approved event or programming changes the your PTA has planned.
Ask committee chairmen for input and estimates.
Look at historical data.
Remember to include training and convention budget. This is an approved expense of the PTA.
SLA August 2017

9. Treasurer’s Calendar Audit – July Review Resources/Procedures
Budget Development/Approval – May or June
New Treasurer takes over – July 1 (or after Spring Conference for Regions)
Update Bank Account– July
Call Bank ahead of time to see who needs to be there and what required documents are needed
File taxes: 990-N or 990-EZ by 11/15
SLA August 2017

10. Treasurer’s Report
Presented at every meeting – get it to the President if you cannot attend
Calendar month, not meeting to meeting
Have all records and monthly statement available
Reconciliation
SLA August 2017

11. Protect your Tax Exempt Status
File your 990 between July 1 and November 15
Send proof of filing to NRPTA immediately
Tax Exempt Status-why does your unit want it:
Increased purchasing power-NO SALES TAX with your exempt certificate
Increased revenue-NO INCOME TAX
SLA August 2017

12. Audits
Why do we do audits? To certify the accuracy of the books and the records of the PTA and to assure membership that the units resources/funds are being managed in a business-like manner.
Your PTA Bylaws will give you the procedure for your unit.
Audits need to be completed by an audit committee, after July 1. Treasurer’s do not serve on the committee, but must be available the answer any questions.
Sample audit: NYS Resource Guide; Section 5, page 18
SLA August 2017

13. Insurance Liability Insurance and Fidelity Bond
Accident Insurance-no coverage unless liability is proven
Medical Payments up to $5000 under liability policy. Additional coverage can be purchased for specific events. Call
Officers Liability-protects against claims of wrongful act for directors and officers.
AIM’s new playlist of events: NYS Resource Guide, section 5B, pages 6 & 7
Incident reports should be completed and mailed to A and your Region Director immediately-this is not a claim, just notification
Insurance Payments are due to NYSPTA/AIM by June 1st.
SLA August 2017

14. Open Forum - Questions
SLA August 2017