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