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1 The Role of the Treasurer
2 What do I needto know? Your PTA s tax ID number, formally called the Employer Identification Number (EIN). Your PTA s bank and bank account number. The end of your fiscal year is June 30. This is a key date for keeping financial records. The location of past 990/990EZ forms, the annual tax return required by the IRS.
3 Six Rules to Make Your Job Easier Pay every bill, no matter how small by check. Never give anyone a pre-signed blank check or one made out to cash. Count money received with the person presenting it. Issue receipts for all money received. Deposit money promptly in the bank. Present accurate reports at all monthly meetings.
4 What am I responsible for? keeping record of all income and expenses for the PTA providing a Treasurer s report at each PTA meeting working with the Budget Committee to develop an annual budget for the PTA preparing the annual audit and all other monthly reports depositing money in the PTA checking account co-signing all PTA checks assisting with the June transfer of PTA financial records
5 Responsibilities... You must also, remit state and national membership dues MONTHLY. Make sure that your annual PTA insurance is paid prior to September 30 and documentation is provided to VCCPTA. Submit your IRS e-postcard prior to November 15 for the school year and provide a copy of the acceptance to VCCPTA.
6 What to do if money is missing? Inform your school principal. Contact either Danielle Thomas, VCCPTA President, or Melissa Shaw, VCCPTA Treasurer. Do not make any accusations. Document all allegations. Gather facts and documents. Notify your bank of any wrong doing and consider your options. Meet with VCCPTA representatives to determine what course of action should be taken.
7 Dues Cooperate with the Membership Chair and keep an accurate list of PTA membership. State and National PTA dues are $3.50 per member. Keep all state and national portions of dues recorded separately from local funds. This is not to be included as part of the unit s funds to be used for expenses. Send all state and national dues to the state office as collected MONTHLY. All dues must be sent to the state office no later than March 31. Use the remittance form in the Kit of Materials. Make check payable to Florida PTA and mail to: Florida PTA State Office 1747 Orlando Central Parkway Orlando, FL 32809
8 Insurance It is a requirement of the state of Florida that all PTA s have insurance. Your annual policy must be renewed no later than September 30. Please contact visit the VCCPTA website or contact Melissa Shaw if you need an insurance application.
9 IRS e-postcard A PTA whose gross receipts are less that $50,000 each year must file a Form 990-N e-postcard. The e-postcard must be filed electronically and can be filed at Otherwise, the PTA has to file a 990-EZ/990 form. The term gross receipts means ALL PTA revenue, excluding any money carried over from the previous year and State and National dues collected and remitted. When a PTA collects $10,000 in a candy sale, but pays $5,000 to the candy vendor, the entire $10,000 is considered gross receipts. What forms are used? As long as a PTA s yearly gross receipts are over $50,000, but less than $200,000, it should file Form 990EZ and Schedules A and G.
10 PTA Funds vs. School Funds Do not maintain PTA funds in school internal accounts. While there may be an excellent relationship between the PTA and the school, all money in a school account belongs to the school. The principal must have total responsibility for all school funds, while a PTA must have total responsibility for its own funds. School funds are public monies and PTA funds are private monies. As a private organization, PTA has more freedom in handling its money. While many activities are school-related, they are not school sponsored. There is not a problem in giving PTA money to the school account to purchase an item the PTA is donating to the school. In some cases, that is necessary in order to take advantage of school purchasing contracts or other special deals. However, the PTA must receive a receipt or copy of the invoice indicating that the money was spent as stipulated by the PTA. It is not sound financial practice to give money to the school or principal undesignated.
11 Budgets A budget is not only a guide, but also a working document. It shows a plan for obtaining funds, for spending those funds to meet the needs of the unit s yearly activities and also should allow adjustments when those estimates are not exactly accurate.
12 Sample Budget This form can be found in your Kit of Materials.
13 Why should we include interim summer funds? You are not permitted to spend funds from July 1 until the budget is approved for the following school year. By budgeting for summer expenses in the previous budget, the board is permitted to spend a small predeterminedamount of money at the beginning of the new school year. A welcome back breakfast for teachers during pre-planning would be one example.
14 What about the school s Tax ID? PTA s are NOT automatically tax-exempt because they are related to the public school. The only LEGALway for your PTA to use the school s tax ID number would be if your PTA operates as a committee or club entirely under the school s direct control. If your group s money is held in a bank account owned by the school, using the school s EIN, then your PTA is a committee of the school. Florida PTA does not recommend using the school s bank account or tax ID number.
15 PTAs and Sales Tax Your PTA is not required to have a sales tax exempt number; however, you are entitled to one if you choose. You may either call the Florida Department of Revenue, and ask them to send you a DR-5 (Consumer Certificate of Exemption Application) or you may download the form at This form can also be located on the VCCPTA s website.
16 Application DR-5 This form is available on the VCCPTA website.
17 When to Pay Sales Tax Even if you are tax exempt, the PTA is responsible for paying sales tax on all resale items. PTAs have been granted the privilege of paying sales tax to the vendor on the wholesale cost of any items (including bookstores if operated within the school). Any other items maintained as a permanent inventory are NOT included in this privilege, such as uniforms, t-shirts, etc.
18 Treasurer s End of Year Checklist Remit all state and national dues. Pay all outstanding bills. Prepare the annual audit report. File the IRS e-postcard. Assist in adding new signers to the bank account for the upcoming school year.
19 Sample Annual Audit This form can be found in your Kit of Materials.
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