Resources For Treasurers
Congratulations and thank you for taking on this important role for your PTA!
This section provides information about budgeting, insurance and liability, handling money, reporting, conducting the annual audit process, and tips and resources to help with transitions as the PTA Treasurer.
Finance Fast Facts
New Treasurers should review the records for completeness and ask about any missing information.
- The Treasurer should provide a written report at each meeting. This report is filed for audit. No vote is needed.
- Each PTA unit has a unique EIN # provided by the IRS.
- All disbursements should be paid by check. Checks should have two signatures. All disbursements MUST HAVE a receipt. You cannot disburse funds without a receipt or bill. These are kept in the Treasurer's records.
- When the annual review is completed, the person performing the review should complete the review/audit form. This is presented at a General Membership meeting for review and approval. A motion, second and a vote to approve are required. The review is then filed into the permanent records of the association.
- A third party (not the treasurer) should verify the bank statement balance each month.
- Two people should always count money from events and sign a receipt verifying the amount.
- PTA funds should be deposited into PTA accounts only.
- Funds should be deposited in a timely manner. Do not keep funds at the homes of members.
- IPTA and NPTA recommend that units follow their bylaws for auditing and review of financial records. State Bylaws recommend that local units review/audit their books annually.
- Your budget should be approved by the membership at a meeting. Anytime there is a proposed amendment to the budget this requires an additional vote by the membership.
- Treasurer can disburse funds approved in budget without additional motions to approve.
Preventing Theft and Fraud
- Withholding – Not accurately reporting your membership monthly to avoid paying State and National dues.
- Fraud impacts associations relationships and reputations with parents, schools, community, and State and National PTA.
- Weak internal controls create opportunity for individuals to steal from the PTA.
- § Annual reviews of books help prevent theft and fraud.
- § Two signatures on banking accounts. Two people present to count funds.
- § Third party reviews the bank statement monthly.
- § Account signers may not be related or live in the same household.
- Always report theft.
- Liability and Bonding insurance is recommended. Bonding Insurance is available for purchase to cover any position that handles money.
- Ask questions!