2327 L Street • Sacramento, CA 95816 916.440.1985 • FAX: 916.440.1986 Email [email protected] • www.capta.org SAMPLE FINANCIAL CALENDAR (Year-round PTAs adapt accordingly) UPON ELECTION • Treasurer-elect chairs budget committee. • Board-elect develops and adopts preliminary budget, based on proposed PTA programs for the upcoming year. • Present proposed budget to the current executive board and the membership at the last PTA meeting of the year. (This allows board-elect the ability to cover routine summer expenses as outlined in the bylaws.) AUGUST-SEPTEMBER • Re-present budget to association for adoption at its first meeting. • Send approved audit and year-end financial report and current year budget to council or district as directed. • Send the first remittance of per capita dues through channels. Send monthly thereafter. OCTOBER • Prepare tax forms and file as required. Forward copies of tax returns to council or district as directed. (California State PTA Toolkit 5.10 Tax Requirements). NOVEMBER/DECEMBER • Send checks for insurance premiums through channels. Do not send checks directly to the California State PTA office or the insurance broker. The premium must have been forwarded through PTA channels to be received in the California State PTA office by December 20, or a late fee of $25 will be assessed by the California State PTA. Postmarks are not accepted. • Complete and send the Workers’ Compensation Annual Payroll Report through channels whether or not the association has employees. • Review California State PTA Toolkit 5.11 PTA as an Employer for additional filing requirements. JANUARY • Submit books and financial records for mid-year audit, as specified in the bylaws. • Revise budget, if necessary. • Pay annual U.S. Postal Service Bulk Mailing permit fee, if required. • Ensure that Workers’ Compensation form and insurance surcharges have been forwarded through channels. FEBRUARY • Send Founders Day freewill offering through channels to district PTA, when collected. The event may be held during a month other than February. • Determine if convention registration fees need to be paid. MARCH • Ensure all per capita dues have been forwarded through channels, in accordance with established due dates. APRIL • Issue convention checks for authorized expenditures for elected delegates. MAY/JUNE • Ensure all per capita dues have been forwarded through channels. • Attend workshops for financial officers, when offered. • Submit books and financial records to outgoing auditor for end-of-term audit, as stipulated in the bylaws (after close of fiscal year). • Give financial records and materials to the incoming financial officer (except those in audit). • Obtain new bank account signature cards to assist the incoming officers. • Prepare Annual Financial Report and tax returns (end of fiscal year). Other pertinent dates should be added (or adjusted) to the calendar to meet timeframes specific to each PTA and fiscal year. 2014 California State PTA Convention 1 C-7 Finance for aAll Board Members
Transcript
2327 L Street • Sacramento, CA 95816 916.440.1985 • FAX: 916.440.1986
UPON ELECTION • Treasurer-elect chairs budget committee. • Board-elect develops and adopts preliminary
budget, based on proposed PTA programs for the upcoming year.
• Present proposed budget to the current executive board and the membership at the last PTA meeting of the year. (This allows board-elect the ability to cover routine summer expenses as outlined in the bylaws.)
AUGUST-SEPTEMBER • Re-present budget to association for adoption at
its first meeting. • Send approved audit and year-end financial
report and current year budget to council or district as directed.
• Send the first remittance of per capita dues through channels. Send monthly thereafter.
OCTOBER • Prepare tax forms and file as required. Forward
copies of tax returns to council or district as directed. (California State PTA Toolkit 5.10 Tax Requirements).
NOVEMBER/DECEMBER • Send checks for insurance premiums through
channels. Do not send checks directly to the California State PTA office or the insurance broker. The premium must have been forwarded through PTA channels to be received in the California State PTA office by December 20, or a late fee of $25 will be assessed by the California State PTA. Postmarks are not accepted.
• Complete and send the Workers’ Compensation Annual Payroll Report through channels whether or not the association has employees.
• Review California State PTA Toolkit 5.11 PTA as an Employer for additional filing requirements.
JANUARY • Submit books and financial records for mid-year
audit, as specified in the bylaws. • Revise budget, if necessary. • Pay annual U.S. Postal Service Bulk Mailing
permit fee, if required. • Ensure that Workers’ Compensation form and
insurance surcharges have been forwarded through channels.
FEBRUARY • Send Founders Day freewill offering through
channels to district PTA, when collected. The event may be held during a month other than February.
• Determine if convention registration fees need to be paid.
MARCH • Ensure all per capita dues have been forwarded
through channels, in accordance with established due dates.
APRIL • Issue convention checks for authorized
expenditures for elected delegates. MAY/JUNE • Ensure all per capita dues have been forwarded
through channels. • Attend workshops for financial officers, when
offered. • Submit books and financial records to outgoing
auditor for end-of-term audit, as stipulated in the bylaws (after close of fiscal year).
• Give financial records and materials to the incoming financial officer (except those in audit).
• Obtain new bank account signature cards to assist the incoming officers.
• Prepare Annual Financial Report and tax returns (end of fiscal year).
Other pertinent dates should be added (or adjusted) to the calendar to meet timeframes specific to each PTA and fiscal year.
2014 California State PTA Convention 1 C-7 Finance for aAll Board Members
BUDGET (SAMPLE)FISCAL YEAR ____________
Name of Unit _______________________________________________ IRS EI # ________________
Council ___________________________________________________ District PTA _____________
Bank Name ________________________________________________ Account # _______________
Bank Address ______________________________________________________________________
BALANCE ON HAND from previous year $ ______________ESTIMATED RECEIPTS
Interest income $ ______________Membership dues (unit portion only) $ ______________Fundraising (list individually)________________________________________________ $ ______________________________________________________________ $ ______________
TOTAL $ ______________RECEIPTS NOT BELONGING TO UNIT
Council, district, State and National PTA membership per capita $ ______________Founders Day freewill offering $ ______________
TOTAL $ ______________TOTAL RECEIPTS $ ______________
ESTIMATED DISBURSEMENTSOperating expenses
Membership envelopes $ ______________Insurance premium $ ______________Newsletter and publicity $ ______________Council/district PTA leadership workshops $ ______________Convention (State/National PTA) $ ______________Officers’ and chairmen’s reimbursement $ ______________Past president’s pin $ ______________Honorary Service Award $ ______________
Program expensesPrograms and assemblies $ ______________Reflections Program $ ______________Parent Involvement $ ______________Emergency preparedness $ ______________Hospitality $______________
RECEIPTS NOT BELONGING TO UNITCouncil, district, state, and National PTA membership per capita $ ________________Founders Day freewill offering $ ________________
TOTAL $ ________________TOTAL RECEIPTS $ ________________
DISBURSEMENTS (List Budget Categories)
Operating expensesMembership envelopes $ ________________Insurance premium $ ________________Newsletter and publicity $ ________________Council/district leadership workshops $ ________________Convention (State/National PTA) $ ________________Officers’ and chairmen’s reimbursement $ ________________Past president’s pin $ ________________Honorary Service Award $ ________________
Program expensesPrograms and assemblies $ ________________Reflections Program $ ________________Parent Involvement $ ________________Emergency preparedness $ ________________Hospitality $ ________________
DISBURSEMENTS NOT BELONGING TO UNITCouncil, district, state, and National PTA membership per capita $ ________________Founders Day freewill offering $ ________________
TOTAL $ ________________TOTAL DISBURSEMENTS $ ________________
BALANCE ON HAND $ ________________
Signature ______________________________________________ Date ________________
California State PTA Toolkit – 2011 337
2014 California State PTA Convention 3 C-7 Finance for aAll Board Members
ABC PTSAFinancial Report
July1, 20XX-April 30, 20XY
April 1-30, 20XX Year to Date Budget
Carry Over Funds per AuditGeneral Account, July 1 25,146.00$ 25,146.00$ General Account, March 30 34,315.12$
2145 Mary Amth Art Instructor 450.00$ 2146 Jennie Smith Choral Music 560.00$ 2147 Amy Jones Babysitting March 26.00$ 2148 Universal Licensing Movie Lic-Fam 75.00$ 2149 Void2150 Bully No More Assembly 500.00$ 2151 Berkley Farms Fruit Bars 386.00$
2014 California State PTA Convention 4 C-7 Finance for aAll Board Members
P77Jn>erychild,<wvoice.
PAYMENT AUTHORIZATION/REQUEST FOR REIMBURSEMENTATTACH ALL RECEIPTS TO THIS EXPENSE STATEMENT
Name Mary Volunteer
PTA Position Carnival Chair
Address 265 Anystreet
City/Zip Somewhere , CA
Telephone {_ E-mail ABCPTAvolOgmail. com
Expenditure was for: Carnival and Staff Appreciation
List Expenditures: Food-carnival
Prizes
Food-staff
$ 957.45
$ 1246.82
$ 168.42
$
TOTAL EXPENSE $ 2372 .69
Signature
Total Amount Claimed From Above
Minus Advance Received
Reimbursement Claimed
Not claimed - donate to PTA
Refund to PTA (Enclose Check)
$ 2372.69
$ 1000.00
$ 1372.69
$ 100.00
$ 1272.69
Date \\H\Hl
FOR PTA TREASURER USE:[B Membership-approved activity J^hunds released by membership
1 Executive Board-approved expenditure
President's signature:
Date approved in minu
03/20092014 California State PTA Convention
352 California State PTA Toolkit - 2011
C-7 Finance for aAll Board Members
Membership Dues
# _______ members @ $ ______ (dues) = $ ______ + donations = $ _____ Grand Total $ ___________
UNIT NAME__________________________________________________________________________________
ACTIVITY ___________________________________________ DATE __________________________________
GRAND TOTAL $ ___________________________________
California State PTA Toolkit – 2011 343
2014 California State PTA Convention 6 C-7 Finance for aAll Board Members
TREASURER’S REPORT (SAMPLE)_________________ PTA
November 14, 2011 – December 14, 2012
CHECKING ACCOUNTBALANCE ON HAND 11/14/2006 $ 4250.00
INCOME11/15 DEP: Carnival $ 1450.0011/17 DEP: Membership Dues, unit portion (150 @ $5) 750.0011/22 DEP: Book Fair 349.5012/05 DEP: Gift Wrap 5000.0012/10 NSF check #1113 – Book Fair purchase (16.50)
TOTAL 7533.00 7533.00
FUNDS NOT BELONGING TO THE UNIT INCOME11/17 DEP: Membership, 150 @ $4.00 (council/district/State/National PTA) $600.0012/10 DEP: Founders Day Freewill Offering 213.00
TOTAL 813.00 813.00TOTAL INCOME $12596.00
EXPENSESCk # 3150 Cajon Council, insurance premium $ 195.00Ck # 3151 Mary Smith, Carnival expenses 55.0012/10 Bank fee, NSF Ck # 1113 10.00Ck # 3153 Patty Harper, hospitality 7.49Ck # 3154 Book Fair Company 120.00Ck # 3155 VOIDCk # 3156 Cajon Council, convention/2 delegates 260.00Ck # 3157 Susan Bird, office supplies 15.29Ck # 3158 VOID 0.00Ck # 3159 Beverly Anderson, postage 3.7012/13 Transfer to Savings 5000.00
TOTAL 5666.48 5666.48
FUNDS NOT BELONGING TO THE UNIT EXPENSES:#3152 Cajon Council, 150 members @ $4.00 (council/district/State/National PTA) $600.00#3160 Cajon Council, Founders Day Freewill Offering 213.00
813.00 813.00TOTAL EXPENSES $ 6479.48
BALANCE ON HAND 12/14/2006 $ 6116.52
SAVINGS ACCOUNTBALANCE ON HAND 11/14/2006 $ 8649.55
12/10 DEP: Interest 4.3212/13 DEP: Transfer from Checking 5000.00
Withdrawals 0.00
BALANCE ON HAND 12/14/2006 $ 13653.87
Signature __________________________________________________ Date _________________
2014 California State PTA Convention 7 C-7 Finance for aAll Board Members
FINANCIAL SECRETARY’S REPORT
_________________ PTANovember 14, 2011 – December 14, 2012
A monthly report must reflect the duties of a financial secretary as assigned in the bylaws andshould include:
RECEIPTS(Listing of monies received and given to treasurer to deposit.)
11/13 Carnival $ 1450.0011/17 Membership Dues, (150 @ $9) 1350.0011/21 Book Fair 349.5012/05 Gift Wrap 5000.0012/10 Founders Day Freewill Offering 213.00
TOTAL $ 8362.50
DEPOSITS(Listing of monies deposited — a duplicate copy of deposit slip is given to treasurer.)11/14 Carnival $ 1450.0011/18 Membership Dues, (150 @ $9) 1350.0011/22 Book Fair 349.5012/06 Gift Wrap 5000.0012/11 Founders Day Freewill Offering 213.00
TOTAL $ 8362.50
PAYMENT AUTHORIZATIONS(Listing of authorizations written and forwarded for authorized signatures.)# 54 VOID# 55 Cajon Council, insurance premium $ 195.00# 56 Mary Smith, Carnival expenses 55.00# 57 Patty Harper, hospitality 7.49# 58 Book Fair Company 120.00# 59 Cajon Council, convention/2 delegates 260.00# 60 Susan Bird, office supplies 15.29# 61 Beverly Anderson, postage 3.70
TOTAL $ 656.48
Note: A Payment Authorization is not needed for payment of membership or freewill offering (fundsnot belonging to unit)
____________________________________________________ _____________________Financial Secretary Signature Date
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2327 L Street • Sacramento, CA 95816 916.440.1985 • FAX: 916.440.1986
PTA Executive Board (Board-elect) Plans the PTA Year
PTA Goals and Program Developed Executive Board and Program Committee develop
and give to Budget Committee
Budget Developed
Budget Committee
PTA Program and Budget Approved Executive Board approves Association approves; recorded in minutes
Executive Board/Committee Plans Details of Approved Activity
Executive Board oversees activity planning and implementation. Board ensures insurance regulations are followed, approves all plans and records in minutes.
PTA Financial Procedures
Funds Released Association authorizes budgeted amount for upcoming activity
Activity Plans Approved
Executive Board approves committee’s plans and authorizes expenditures
Receipt(s) attached to Payment Authorization/Request for Reimbursement form OR
Check Written Immediately Two (2) signatures obtained, given to recipient
Bills Presented at Association Meeting
Motion to Ratify Check During Executive Board meeting
Motion to Pay Bills/Approve Check Check written immediately
Two (2) signatures obtained, given to recipient
Treasurer’s Report Check(s) presented to association for ratification
Treasurer’s Report
Presented at next association meeting
Motion to Ratify Check(s) During association meeting
Financial Records
Placed on file for audit
2014 California State PTA Convention 9 C-7 Finance for aAll Board Members
All PTAs Must File Tax Returns California State PTA is committed to providing information to help make your PTA aware of the latest state and federal requirements. Federal laws and new state laws require nonprofit groups, including PTAs, to file tax returns. Below is a list of the new requirements as they relate to PTAs for the federal IRS Form 990, and for the State of California Franchise Tax Board Form 199 and Attorney General’s Registry of Charitable Trusts RRF-1. All forms must be filed 4 months and 15 days after the fiscal year ends. Fiscal year dates can be found in bylaws (Article XIII) or contact your district president. The name on the Federal form 990 is PTA California Congress of Parents dba name on front cover of the bylaws. The name on all state filings is name found on the bylaws. The Group Exemption Number is 0646 The bylaws (Article XIV) list the appropriate numerical identifiers for each report. The IRS uses an Employers Identification Number (EIN). The Franchise Tax Board has assigned an 8 digit corporation or entity number and the Attorney General uses a Charitable Trust (CT) number.
Federal IRS Form 990 Internal Revenue Service (IRS) Form 990 tax returns or an extension request Form 8868 must be filed no later than four months and 15 days after the fiscal year-end. Check your PTA bylaws for your fiscal year-end. See filing instructions a t http://www.irs.gov/pub/irs-pdf/i990.pdf.
Gross Receipts If your PTA’s gross receipts are:
Form to file
Normally equal to or less than $50,000 990N More than $50,000 and less than $200,000 and total assets are less than $500,000
990EZ
Equal to or more than $200,000 or more, and total assets are equal to or more than $500,000
990
All Forms 990 or 990EZ require a Schedule A be completed. Schedule B must be completed if the PTA receives a donation of $5,000 or more from a single donor.
California State Franchise Tax Board Form 199 All PTA units, councils and districts must file the Form 199. Returns are due four months and 15 days after the fiscal year-end. To see more information on the Form 199N go to http://www.ftb.ca.gov/professionals/taxnews/2010/July/Article_8.shtml.
Gross Receipts Tax Year If your PTA’s gross receipts are: Form to file
Normally equal to or less than $50,000 199N
Normally greater than $50,000 199
2014 California State PTA Convention 10 C-7 Finance for aAll Board Members
California Attorney General’s Office
Charitable Trust The Annual Registration Renewal Report (RRF-1) must be filed every year. A fee is required if the Gross Receipts exceed $25,000. If the association answers any of the questions “Yes,” additional information is required. PTA audits done by a volunteer are NOT prepared in accordance with Generally Accepted Accounting Principle Planning to conduct drawings or charitable gaming activities? If you are planning a raffle (http://oag.ca.gov/charities/raffles) or a gaming activity (http://oag.ca.gov/gambling/forms) you can apply for a raffle or gaming certificate before you advertise the event. Speak with your council or district for undertaking the event(s). An Opportunity Drawing is an activity wherein no one purchases a ticket and everyone is given a chance to win. This is not a raffle and does not require a raffle permit. If everyone who purchases a hot dog has a chance to win, it is a raffle and a permit is required.
2014 California State PTA Convention 11 C-7 Finance for aAll Board Members
2014 California State PTA Convention 12 C-7 Finance for aAll Board Members
2327 L Street • Sacramento, CA 95816 916.440.1985 • FAX: 916.440.1986
A treasurer’s report includes a lot of meaningful information, but how does the PTA know it’s accurate? The unit needs to assign a non-check signer to review the bank statement each month. The most logical choices are the auditor or a member of the audit committee. Armed with the treasurer’s financial report, minutes and the bank statement the following can be checked: ____________________________________________________________________________ Treasurer’s Report Nov. 1-Nov. 30: Beginning Balance – Nov. 1 $3,500 Income Giftwrap 11/1 $2,400 Memberships 11/14 $ 300 $2,700 Expense CK 100 ABC Co $1,299 CK 102 Alpha PTA Council $ 160 CK 103 Mary Smith $ 250 $300 $2,709 $1759 Ending Cash Balance $3,493 $4441
Bank Statement Bank Stmt Beginning Balance $3,550 Deposits 11/05 $2,400 11/15 $ 300 $2,700 Checks 99 $ 50last treas.rpt
100 $ 1,299 103 $ 300 $1,649 Ending Bank Balance $ 4,601 CK 102 -160 $ 4441
Note: If the bank statement does not include copies of checks, the unit has to obtain copies. Most banks have online access. PTAs can have online access to their bank accounts, but they must decline any access to online payment of bills.
Step 1: Look at the checks. Verify o Two signatures on every check o Payee, amount and date match the treasurer’s report o Purpose of payment is included in the check’s note section
Step 2: Look at the deposits. Verify o Date and amount match the treasurer’s report o Deposits have been timely
Step 3: Assure no online payments or withdrawals have been made using a debit/ATM card. Step 4: Reconcile the bank statement to the treasurer’s report.
Make adjustments for checks that have not cleared and deposits not shown. Step 5: Contact the treasurer to determine the source of the error(s). Corrections, if required, are
included in the next treasurer’s report. Report findings to unit president, treasurer and auditor (if reviewer isn’t the auditor). Note: the five-minute audit will NOT reveal that the treasurer allocated $100 collected for Membership Dues to Gift-Wrap Income instead, but it will point out that a $1,000 deposit showing on the treasurer’s report didn’t actually make it to the bank or that a check cashed by the bank didn’t show up on the treasurer’s report. If this happens, ask more questions and investigate further!
PTA resources include Toolkit, Finance section: 5.3 Banking, 5.3.3 Bank Statements, 5.3.6a Check Writing; Forms section: Check Sample.
_______________________________________________________________________________________________________City State Zip
1. I have read the California State PTA Conflict of Interest Policy (Section 2.3.2): ___ Initial
2. I have read the California State PTA Whistleblower Policy (Section 2.3.11): ___ Initial
3. I understand that as a board member, I have a responsibility to review the tax return: ___ Initial
4. Are you currently being compensated by the PTA for services rendered to the organization (whether as a part-time or full-timeemployee, independent contractor, consultant or otherwise) within the previous 12 months? __Yes __No
5. Do you anticipate the receipt of compensation from the PTA for the rendering of services as described in question 1 aboveduring the upcoming 12 months? __Yes __No
6. If any person bearing any of the following relationships to you is currently being compensated by the PTA for services rendered to it as described in question 4 above within the previous 12 months, please list his or her name in the followingspace and indicate the person’s relationship to you by using the relationships designated below (if no such person is beingcompensated, please print the word “none” in the first space): __Yes __No
Name ___________________________________ Relationship _______________________________________
7. If any person bearing any relationship to you as described in question 6 above anticipates the receipt from the PTA for the ren-dering of services to it as described in question 4 above within the next 12 months, please list his or her name in the followingspace and indicate this person’s relationship to you (if no such person anticipates receipt of such compensation, please printthe word “none” in the first space).
Name ___________________________________ Relationship _______________________________________
8. Are you a director, an officer, an employee or an owner in any business or entity which has done business within the previous12 months with the California State PTA, or currently is, or is contemplating doing business with the business? __Yes __No
If yes, please explain type of business, type(s) of transaction(s), relationship:
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