PTO TREASURER DUTIES
The PTO Bylaws contain these provisions relating to the duties of the Treasurer:
Article IX, Section 6
The treasurer shall:
- Receive all monies of Central School PTO and keep an accurate record of receipts and expenditures;
- Place all monies in a depository approved by the Executive Committee;
- Pay out funds in accordance with the budget approved by the membership, as demonstrated by supporting receipts provided to the treasurer with a request for payment or reimbursement. In addition to the Treasurer, the President and the Parliamentarian may sign checks. No officer may write a check for reimbursement to himself or herself or to a family member;
- Present a written financial statement at every meeting of the organization and at other times as requested by the Executive Board or Executive Committee, submitting a full annual report listing all expenditures in each category at the September meeting following the audit;
- Provide the checkbook, all bank statements, canceled and voided checks, deposit slips, treasurer’s record book and receipt book, invoices and receipts for all disbursements to the Auditor at the close of the fiscal year;
- Be responsible for completion and filing of appropriate forms as may be required by Internal Revenue Service Regulations no later than the date established by the regulations. Alternatively, the IRS forms may be completed by an auditor hired to perform the annual audit; and
- Maintain financial records for seven (7) fiscal years.
Article IX, Section 9
All officers shall:
- Perform the duties prescribed in the parliamentary authority of Central School PTO in addition to those outlined in these bylaws and assigned from time to time; and
- Deliver to their successors all official material within ten (10) days following the meeting at which their successors take office. In the case of the treasurer, all materials must be delivered by August 15, or upon completion of the audit.
2. STANDING RULES
The Central PTO Standing Rules contain these provisions regarding the Treasurer’s duties:
|A.||Cash and checks received should be turned in to the Treasurer within one week of the conclusion of the event or fundraiser with a completed deposit form and deposit spreadsheet.|
|E.||Requests for reimbursements must be submitted to the Treasurer with a completed reimbursement form and be accompanied by original receipts.|
3. TIMELINE OF RESPONSIBILITIES
Although the incoming Treasurer takes office July 1, the two Treasurers may need to work together with the PTO’s accountant to assist in preparation of annual review. (See July and August entries at the end of this description for more details.)
The outgoing Treasurer will pass on the books to the incoming Treasurer in July. The old and new Treasurer will attend the Budget Committee meeting, the date to be determined by the President. The outgoing Treasurer provides the historical data for the meeting. The incoming Treasurer creates the budget in Quicken/Quickbooks after the meeting.
Prepare the proposed budget to be voted on at the September PTO meeting (some years the vote is taken at the October meeting). Make 25 copies (you can use the copier in the office), or use an electronic version for display on a large screen.
At the September meeting, explain how members should request reimbursement (leave form with receipts attached in the blue Treasurer’s folder in the office) and encourage everyone to use the Illinois Department of Revenue form for sales tax exemption. Keep extra copies of these forms in the folder for members to pick up.
After the budget is adopted, send every officer and committee chairperson a copy of the budget with his or her categories highlighted.
Submit copy of the approved budget to the Webmaster for publishing on PTO Website.
The Central PTO bylaws require the Treasurer to give an annual report for the previous year (following completion of the review) listing all expenditures in each category. The Treasurer for the previous year should make this report.
Other items that may need to be done in September:
- Reimburse the 1st Vice Presidents for the cost of the PTO Gathering; and Kindergarten Picnic/Balloons.
- Pay Central School’s share of the printing of the district calendar (In some years a deposit is made in the spring; other years the entire cost is paid in the fall);
- Pay a deposit for the Roller Skating Party (usually held in October);
- Pay for expenses related to Family Fun Night;
- Deposit 100% Fund donations in checking account.
- Deposit receipts for calendars, directories and yearbooks ordered.
- The bill for the Student Directory will probably need to be paid in October (not applicable if online directory is being used).
- Deposit gift-wraps fundraiser income in checking account.
- Additional 100% Fund donations will need to be deposited.
- Give a check for the balance of the Roller Skating Party to the Chairperson of that event.
- Deposit Kids Art fundraiser income and pay the related invoice for products purchased.
- Deposit sportswear (Spirit Wear) income.
- Expenses related to Auction/Science Fair, which are held in alternate years, will likely be incurred and need to be paid in October/November.
- The taxes must be filed with the IRS by November 15. The Treasurer for the previous year is responsible for coordinating with the PTO’s accountant to have the tax form prepared and mailed certified mail. In recent years the accountant has e-filed the tax return.
- Pay the fee owed to the accountant.
- The bill for sportswear sold may need to be paid this month.
- Parent Teacher Conference Dinner. Reimburse 3rd VP for related expenses.
- The bill for gift-wrap fundraiser will likely arrive and need to be paid.
- Kids Care will take a collection at the Holiday Program. This money is deposited in the PTO account and used to purchase gift cards for Central families who qualify for free school lunches. The Treasurer reimburses the person who buys the gift certificates on behalf of Kids Care.
- Give a deposit check to the Ice Skating Party Chairperson to reserve the rink for the Ice Skating Party
- Specials Collection – Donations are deposited into the PTO checking account and gift cards are purchased in quantities and denominations as determined by the 3rd VP.
- The Book Fair and the Book Fair Social are typically in January or early February. The Treasurer will receive a cash box request from the book fair Chairperson for the cash registers. The Treasurer will deposit cash and checks from book fair sales, as well as write a check to Scholastic to cover product costs.
- Reimburse Chairperson for expenses related to Book Fair Social.
- School District 96 maintains accounts for the PTO. Occasionally District 96 pays an invoice on behalf of the PTO, therefore requiring reimbursement. The Financial Secretary is Nancy Schuenemann. Check with her after the first 6 months of the fiscal year have passed, to see if there are any such reimbursements. Theoretically Nancy will send the account statement and invoice to the school principal, which will then be forwarded to the treasurer. Review these expenses very carefully to make certain the items are authorized by the PTO.
- Give a check for the balance of the Ice Skating Party to the Chairperson of that event.
- PRIDE: If the budget includes a line for PRIDE, give a $100 check for PRIDE to the Hauser teacher responsible for PRIDE. Ask the teacher how he/she wants the check written.
- Artist-in-Residence: Give a check to the Artist in Residence, according to the contract provisions.
- Screen Free Week: Reimburse chairs for expenses associated with Screen Free Week, and provide checks to Screen Free Week special guests as appropriate.
- Ensure that the PTO is registered through the Secretary of State, with completed paperwork and annual fee.
- The Officer Installation Luncheon is held in May. If you do not attend you will need to give a check to the 3rd Vice President to pay the restaurant. A $30 check for a babysitter will also be needed. The 3rd VP will also have expenses for reimbursement.
- Teacher Appreciation Week. Both the restaurant and the Chair of the Luncheon will need to be reimbursed for expenses. Teachers are given small gifts during Teacher Appreciation Week. Some are donated; others are purchased. Reimbursement checks will be needed.
- Make deposits for yearbooks and calendars ordered, and brick pavers purchased.
- A Philanthropy meeting will be scheduled in late May. The incoming and outgoing Treasurers and the incoming and outgoing Presidents attend, as well as other PTO members appointed by the President. The Treasurer prepares an estimate of funds available for philanthropy:
- Print a budget report.
- Mark off all line items that are complete.
- For outstanding items, call the appropriate chairperson to ask about bills not yet paid. Those categories most likely to have outstanding bills are: Cultural Arts, Teacher Appreciation Lunch, Teacher Appreciation Week, 5th Grade Games Night, 5lh Grade Year-End Party, Calendar (deposit), and Roadrunner printing/yearbook party expenses.
- To determine the amount available for Philanthropy, take the available checking account balance, then subtract out all outstanding liabilities, and the $600 that the PTO is required to carry over into the next year. . See Article XIII, Section 6(e) of the Central PTO Bylaws.
- Renew PTO Today PLUS membership.
- Talent Show: Deposit entry fees and pay related expenses in years the show is held.
- Check one more time with Nancy in the District office for bills.
- On the last day of school or the following week, check the school office for any bills that have been submitted so you can pay them before the office closes for the summer (usually a couple of weeks after school ends). Check with committee chairpersons for any outstanding bills requesting they be submitted prior to the fiscal year end.
- Receive and pay invoice for Roadrunner Yearbook Printing.
- Receive and pay invoice for brick pavers ordered.
- After you have reconciled the bank statement for June, prepare the books to be given to the accountant. The budget should include funds to pay the accountant (Mary Welch) for the review and the preparation of the IRS 990. Information needed for the review includes: the check register (Transaction Report from Quicken), Statement of Income and Expenses, reconciled bank statements, 1099’s, and a copy of the PTO Audit Committee Report Form (which is prepared typically in August).
- Prepare information for a Budget Committee meeting to be held in July or August. The Budget Committee consists of the President, the Treasurer, the Second Vice President(s), the immediate Past President, the immediate Past Treasurer, and two (2) members appointed by the President. Arrange a time with the President. See Article XIII, Section 6(d) of the Central PTO Bylaws.
- Update this job description, if necessary.
- Attend the Budget Committee meeting.
- Assist in collecting the necessary information needed for the Audit Committee. Information includes prior year’s transaction journal (from Quicken), reconciled bank statements, and the binder of all support information for reimbursement requests and deposits, plus any other information requested.
- Pick up the audit report and records from the Audit Committee. Give the audit report to the President. The PTO Audit Committee Report must be approved at the September meeting.
- Mail the tax return (IRS 990-EZ) certified mail (or E-file), as soon as it is completed.
4. MONTHLY RESPONSIBILITIES
Every Month the Treasurer has the following responsibilities:
- A copy of the budget, showing receipts and disbursements current through the prior month-end, and any other comparative information deemed pertinent, should be distributed at each PTO meeting.
- Give a report at every PTO meeting. The report should include an YTD Income/Expense report from Quicken (with the checking account balance added on the bottom) and a Budget report from Quicken (use dates 7-l-200x to 6-30-200x), or a hybrid of the two. Offer to give the President a monthly Transaction Report or Itemized Category report (Some have wanted it; others have not. 20 copies are usually enough for the meeting.)
- Prior to every PTO meeting, have a check made out to the person who does the babysitting for the meeting.
- After each fundraiser, give the committee chairperson a report of the income and expenses and be prepared to make a report at the PTO meeting if the chairperson is not present.
- Check the PTO mailbox in the office at least weekly. Collect bills and leave reimbursement checks in the blue Treasurer’s folder.
- Reconcile the PTO’s checking account(s) monthly when bank statement is received.
Last revised March 2012.