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.
- 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 executive board.
- Provide training to incoming board members on financial best practices for your PTA.
- Sign the Confidentiality, Ethics and Conflict of Interest Agreement and submit to the Secretary.
- Complete mandatory components of FOUNDATIONS trainings 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. Consider using the myPTEZ.com financial tracking tool.
- 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 membership and executive 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 membership, and verify each transaction is accompanied by a Funds Request Form and necessary documentation.
- Electronically file the appropriate Form 990 within 60 days of the end of the fiscal year. To ensure acceptance by the IRS, Form 990N (see Resources below), 990EZ, and 990 must be filed electronically. Here are some options for the electronic filing: 990 e-Filing Options.
- 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.
Required Monthly Duties
- Reconcile the checking account to the bank statement.
- Reconcile any credit card or merchant accounts to the bank statement.
- Transfer funds from any e-commerce account to the checking account.
- Reconcile any e-commerce account and verify transfers only to the checking account.
- Generate financial reports for executive board and/or membership meetings.
- Propose any budget amendments as needed.
- Deposit and disburse funds as needed and record in accounting software/ledger.
- Record sales tax and state/national dues in escrow or liability account.
- Coordinate with the membership chair to submit members/dues to Texas PTA.