Treasurer Responsibilities Checklist

(All dates assume that your PTA’s fiscal year is July 1 – June 30.)

Your PTA unit is chartered under Free State PTA and is a 501c3 organization; donations to the PTA are tax deductible.

Daily routines may include:

Collect and count all monies received (do not take home or store at school)

Pay all bills promptly (must have receipt or invoice to pay)

Keep detailed written and/or electronic records

Prepare and make bank deposits

Monthly/As Required

Balance checkbook, bank statement initialed by President

Prepare the financial statements for board and general meetings

Prepare report and submit sales tax as required

Mail membership dues to Free State PTA (first payment due 10/1)

July/August

Make sure check signature cards updated for current officers

Establish a budget committee and prepare budget for upcoming fiscal year; Treasurer is the chair

Prepare year-end financial report for PTA

Obtain and prepare IRS Form 990EZ and accompanying Schedule A (Schedule B if necessary): due November 15.

Have PTA’s records audited by Audit Committee (usually a board or PTA member WITHOUT CHECK-SIGNING AUTHORITY), PTA Council volunteers (although PTA Council usually plays a support role), or auditor (new treasurers: do not accept the books until the audit/financial review is completed)

Present report of financial review to Board of Directors, send copy of audit to Free State PTA

Attend Free State PTA Financial Training at convention or training hosted by Free State PTA or PTA Council

September

Present final report to general membership

Present financial review to general membership and send copy to Free State PTA

Present budget to general membership for adoption and send approved copy to PTA Council

Remit membership dues

October

PTA Council Dues due October 1

First payment of Free State PTA and National PTA dues remitted by October 1 (only pay for those memberships sold to date; continue membership drive every month)

Treasurer and one other officer must attend financial training provided by PTA Council or Free State PTA by October 30

Copy of financial review must be sent to Free State PTA no later than October 30

November

Mail IRS Form 990EZ and accompanying Schedule A or do 990N online (copy to Free State PTA, copy for your records): due November 15

December

Complete and mail annual renewal of registration form for Maryland Charitable Organizations: due before December 30

January

File IRS Form 1099-MISC by January 31 ONLY IF the PTA paid to a non-incorporated business or person for services rendered or in payment for grant, award, or scholarship during the calendar year

February

Remit membership dues

Federal 990 form due if extension was filed in November

March

Final membership dues due by March 31

April

Mail Personal Property Form (copy to Free State PTA); due April 15

May

Begin to select financial review committee/reviewer(s)

Remind chairman to turn in all reimbursement forms for approved expenses.

June

Pay insurance premium

Pay all outstanding bills by June 30

Close the books by June 30

Turn over financial books to audit committee/reviewer

After the financial review is completed, the new treasurer can accept the financial books