Texas pta financial reconciliation

Texas pta financial reconciliation DEFAULT

The president shall:

1. coordinate the work of the officers and committees of the association in order that the Purposes may be promoted;

2. confirm that a quorum is present at all meetings of the membership and executive board before conducting business;

3. preside at all meetings of the membership and executive board;

4. appoint the chair of each standing committee and special committee, subject to the approval of the executive board, unless otherwise provided in these bylaws;

5. be authorized to sign on bank accounts, unless prohibited by terms of employment;

6. be authorized to sign contracts approved by the executive board;

7. be listed as the principal officer and be authorized to sign tax documents , unless prohibited by terms of employment;

8. appoint a member, subject to the approval of the executive board, who is not authorized to sign on the bank account to open, review, initial and date each bank statement;

9. represent the Local PTA as a delegate to Council PTA (when the Local PTA is in membership with Council PTA);

10. appoint the financial reconciliation committee, subject to the approval of the executive board; and,

11. serve as an ex-officio member of all committees except the nominating and financial reconciliation committees.

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The treasurer shall:

1. have custody of all the funds of the association;

2. serve as the chair of the budget and finance committee;

3. present a written and verbal financial report at executive board and membership meetings and as requested by the executive board or membership;

4. maintain books of account and records including bank statements, receipts, budgets, invoices, paid receipts and canceled checks in accordance with the records retention policy;

5. make disbursements in accordance with the budget adopted by the membership;

6. be authorized to sign on bank accounts;

7. be authorized to sign tax documents, if the president is prohibited by terms of employment;

8. present a preliminary annual report, i.e. budget to actual, at the last membership meeting;

9. complete and file all necessary tax documents; and,

10. present books of account and records to the financial reconciliation committee.

Which means (s)he:

  • Is in charge of all the money!

  • Checks the bank account regularly

  • Makes sure proper documentation exists for each transaction, including receipts and approvals

  • Writes checks and make debit card purchases as needed for everything: grants, events, food, supplies, and member dues

  • Sits on the grant committee

  • Maintains the budget and work with each committee member -File the taxes

  • Carries around a big binder and makes people sign paperwork :)

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The secretary shall:

1. record and maintain the minutes of all meetings of the membership and the executive board;

2. send, or cause to be sent, notice of meetings of the membership and of the executive board;

3. be responsible for correspondence;

4. collect and preserve documents relating to the history of the association;

5. present a written report to the association as the official history to be adopted at the annual meeting;

6. have a current copy of the bylaws;

7. confirm the executive board has reviewed and the membership has adopted the Texas PTA /PTSA Records Retention Policy annually;

8. confirm that all executive board members have signed the Local PTA Ethics/Conflict of Interest Policy;

9. confirm that all executive board members are graduates of Texas PTA Leader Orientation or have completed the course by October 15 after their election or appointment;

10. file with the Council PTA secretary the names of this Local PTA’s delegates and alternates by the first regular Council PTA meeting and no later than October 1. A Local PTA joining the Council PTA or making changes after October 1 shall submit any changes in writing prior to any regular meeting in order to be eligible to vote (when the Local PTA is in membership with Council PTA);

11. submit the names and contact information of all board members to the Texas PTA Office within 15 days of their election or appointment;

12. maintain the required documents of the association to include: Texas PTA Foundations Leader Orientation completion lists, records retention policy; adopted and signed ethics/conflict of interest policy, membership rosters (not to be released to outside interests), adopted plans of work, and completed student permission forms (if applicable); and,

13. not be a member of the financial reconciliation committee.

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The parliamentarian shall:

1. advise the presiding officer on questions of parliamentary procedure when asked; and,

2. vote only when the vote is by ballot.

  Which means (s)he:

  • Maintains copies of current governing documents & bylaws and ensures that standing rules and bylaws are up to date

  • Provides guidance and interpretation of bylaws to members

  • Discuss meeting agenda with president prior to meeting

  • Maintains impartiality

  • Assists the President and Committee members with parliamentary procedures

  • Assists with procedures and voting (establishing quorum, calling for votes, timekeeping, and closing meetings)

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The Communication Vice President, also known as Fourth Vice President, shall:

1. be in charge of communication; and,

2. preside in the absence of the president (in their designated order).

Which means (s)he:

  • collects and creates content for the monthly (sometimes bi-monthly or weekly) eNewsletter from the PTA in MailChimp

  • posts to the Hogg PTA FB page as needed (could be a chair of social media to assist in this effort)

  • maintains the emailing list with the Membership Chair maintains the website calendar along with other event promotion on FB

  • maintains web content on the hoggpta.org web page in coordination with other VPs considers technological solutions to communication and eCommerce in coordination with fundraising (could be chair role)

  • maintains the PTA tech suite (MailChimp for emails, Squarespace for website, Stripe for eCommerce, G-Suite for PTA emails - planned)

  • promotes the needs of other VPs and chairs for different events and volunteer opportunities

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The Programs Vice President, also known as Fifth Vice President, shall:

1. be in charge of programs; and,

2. preside in the absence of the president (in their designated order).

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The Membership Vice President, also known as the First Vice President, shall:

1. serve as aide-to-the-president;

2. be in charge of membership; and,

3. preside in the absence of the president (in their designated order).

Which means (s)he: 

  • attends all school events where Hogg PTA is represented (Back to School Nights, Magnet Signing Night, Special Events)

  • maintains current membership roster 

  • submits monthly membership information to Treasurer to send to Texas PTA

  • maintains email and printed rosters for meetings, special events and membership perks 

  • hosts annual Breakfast with the Principal (thank you event for high tier members)

  • provides web content for the hoggpta.org web page in coordination with other VPs

  • promotes the needs of other VPs and chairs for different events and volunteer opportunities

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The Volunteers Vice President, also known as the Second Vice President, shall:

1. be in charge of volunteers; and,

2. preside in the absence of the president (in their designated order).

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The Fundraising Vice President, also known as the Third Vice President, shall:

1. be in charge of fundraising; and,

2. preside in the absence of the president (in their designated order).

Which means (s)he:

  • coordinates all Fundraising activities and engages the Board in fundraising

  • proposes and plans any new fundraising activities

  • coordinates with the Treasurer and Communications as well as with faculty and office staff.

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Sours: https://www.hoggpta.org/nom-com

Local PTA Resources


Treasurer's Note

Please file your 990 electronically – 990N’s can be filed before the reconciliation is complete.

Please do NOT mail your tax return – even with proof of mailing; 2 Plano ISD PTA’s got confirmation it was received, but the IRS never found/processed their returns; they had to refile!

A good website for electronic filing is https://efile.form990.org/ 

Who Is The Treasurer?

The treasurer is the authorized custodian of the funds of the association and receives and disburses all monies in accordance with the budget as approved by the association membership.

Quick-Start Actions

  • Work with the outgoing treasurer to review your roles and responsibilities.
  • Review the BASICS Treasurer Resource Guide for detailed guidance on financial practices.
  • Become familiar with the work of the Budget and Finance Committee and begin to prepare a budget. View a Sample Budget.
  • Develop a Plan of Work and submit to the Executive Board for approval.
  • Become an authorized signer on all PTA accounts and ensure access to bank accounts and financial records transition to the newly-elected board.
  • Provide training to incoming board members on financial best practices for your PTA.
  • Sign the Texas PTA Confidentiality, Ethics, Conflict of Interest Agreement and submit to the Secretary.
  • Complete both components of FOUNDATIONS Leader Orientation before October 15.

Duties at a Glance

  • Study all references to duties and finances in the PTA bylaws, policies and standing rules.
  • Ensure your Local PTA meets all requirements of the Standards of Continuing Affiliation.
  • Keep an accurate and detailed account of all monies received and disbursed.
  • Ensure all cash funds are counted by multiple individuals and documented with a Deposit Form. Triplicate Deposit Forms may be purchased from Texas PTA.
  • Keep on permanent file the PTA Employer Identification Number (EIN), as assigned by the IRS, and the PTA sales tax permit, as assigned by the Texas Comptroller.
  • Present a financial report of all accounts at all Association and board meetings. View a Sample Financial Report.
  • Make timely deposits to the PTA bank account.
  • Make disbursements in accordance with the budget, as adopted by the association membership, and verify each transaction is accompanied by a Check Request and necessary documentation.
  • File the appropriate Form 990 within 60 days of the end of the fiscal year. PTAs are no longer required to report their filings to Texas PTA.
  • File sales tax reports to Texas Comptroller as required (annually, quarterly or monthly).
  • Maintain a list of assets owned by the PTA.
  • Submit all required items to the Financial Reconciliation Committee in a timely manner.
  • Submit your PISD Council of PTAs Council Dues payment to maintain your status in good standing.

Required Monthly Duties

  • Reconcile the checkbook to the bank statement.
  • Reconcile any credit card or merchant accounts to the bank statement.
  • Generate financial reports for board and/or association meetings.
  • Propose any budget amendments as needed.
  • Deposit and expend funds as needed and record in accounting software/ledger.
  • Record sales tax and state/national dues in escrow.
  • Coordinate with membership chair to report members/dues to Texas PTA.


Sours: https://pisdcouncil.membershiptoolkit.com/treasurer
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A financial reconciliation reviews all financial transactions to ensure that expenditures are properly documented and conform with the approved budget and the PTA's governing documents. Additional information can be found in the BASICS Treasurer Resource Guide.

A financial reconciliation is required, at least annually, at the end of the fiscal year. The review should also be performed:

  • when any authorized check signer is added or deleted on any bank account; and
  • at any time deemed necessary by the president or three or more members.

Committee information and discussions are confidential; therefore, meetings should be conducted in a private location and only include appointed committee members. The committee may contact the outgoing treasurer and outgoing president for any clarification required, all findings should remain confidential until the report is delivered. All members of the committee should sign a confidentiality agreement.

Financial Reconciliation Committees

  • The president shall appoint, subject to the approval of the executive board, a financial reconciliation committee consisting of not less than three members, who are not authorized signers.
  • Members of the financial reconciliation committee shall not be the current secretary, incoming treasurer or be related by blood or marriage and shall not reside in the same household as the authorized signers.
  • For the financial reconciliation required at the end of the fiscal year, the president shall appoint the financial reconciliation committee at the last membership meeting of the year.

Preparing for the Financial Reconciliation

The outgoing treasurer presents the following financial records to be reviewed by the committee:

  • Current year annual report (budget vs actual) or budget vs actual for period under review
  • Balance sheet (to show sales tax or state/national dues liability balances)
  • General ledger (all transactions for period under review)
  • All financial reports for the period under review
  • All receipts/invoices for expenditures with PTA Funds Request Forms
  • All bank receipts with PTA Deposit Forms
  • All checks for all accounts - cleared, voided, and unused (check images from bank suffice)
  • Bank statements and reconciliations for all accounts
  • Electronic payment collection system documentation (reports from PayPal, Square, merchant account, etc)
  • IRS Form 990-N confirmation of acceptance or a draft of the appropriate 990-EZ or 990
  • Sales and Use Tax permit and returns
  • All correspondence with any taxing authority

The outgoing secretary presents the following records to be reviewed by the committee:

  • Minutes from membership and executive board meetings (including presented financial reports, last financial reconciliation report, Statement Review by Non-Signer forms, etc.)
  • Current membership roster and executive board roster
  • All bylaws, standing rules, and/or policies in effect during the period under review
  • Confidentiality, Ethics, and Conflict of Interest Agreement
  • Current contracts

During the Financial Reconciliation

  • Incoming and outgoing treasurers should immediately update the banking signature cards to remove any outgoing signers and add approved signers.
  • Checks should only be written in the case of an emergency and cannot be signed by the outgoing treasurer.
  • The committee should adhere to the Financial Reconciliation Checklist and Report.

Reporting the Results

  • A member of the committee should present a report for adoption at the first membership meeting held after the conclusion of the review.
  • A copy of the annual report should be attached to the fiscal year-end financial reconciliation report and maintained permanently by the treasurer and placed in the minutes.
  • In the event a complete financial reconciliation cannot be done due to the inadequacy or unavailability of the records, the membership should be notified and the report should include recommendations to correct the situation.

Irregularities in the Records

If the Financial Reconciliation Committee finds irregularities in the records of the treasurer:

  • Contact the treasurer to secure additional records or information.
  • If the matter cannot be settled to the committee’s satisfaction, contact the Local PTA president to determine what additional steps need to be taken.
  • The Local PTA president can request additional guidance from the Council PTA or the Field Service Representative.
  • A Council PTA can request additional assistance from the Field Service Representative if the matter cannot be resolved by the Council PTA.
  • When evidence that theft, fraud, or embezzlement has occurred, the PTA must follow the Texas PTA Theft and Fraud Policy.

Watch SPOTLIGHTS Financial Reconciliation:

Sours: https://www.txpta.org

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Pta reconciliation texas financial

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BASICS Treasurer 2020-2021

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