FINANCE AND BUDGET: Please see Uniform PTA Bylaws Article 6, Section 6.10 Treasurer, Article 8, Section 8.2 Audit Committee, and Article 11, Section 11.1 - 11.8 Finance and Budget, and finally, Article 13 Fiscal Year: The fiscal year of this PTA begins on July 1 and ends on the following June 30.
Annual Budget: Please see Uniform PTA Bylaws Article 11, Section 11.4
Officers prepare a proposed annual budget which, following approval by the board, shall be considered and adopted at the first general membership meeting of the fiscal year. Amendments to the budget may be considered and adopted at a regular or special general membership meeting after approved by the Board of Directors.
Checks: Please see Uniform PTA Bylaws Article 11, Section 11.5
All bills of this local PTA shall be paid by check.
Checks must be signed by two of no more than four officers authorized by the board of directors to sign checks, except that none of these officers so authorized shall be related, and at least one of these authorized officers shall be the Treasurer.
The signing of blank checks is prohibited.
The board of directors can authorize the following year roles to sign checks:
Check signing roles begin on July 1 of each fiscal year of this PTA and end on the following June 30.
Check signing roles do not roll over from year to year.
The outgoing Treasurer and 1 other board officer with check signing authority must remove all outgoing check signers prior to the last day of the current fiscal year.
Expenditures and fund availability: Please see Uniform PTA Bylaws Article 11, Section 11.6
All expenditures of this local PTA must be consistent with the approved budget and based on actual fund availability.
All reimbursements for expenditures will be contingent upon actual fund availability.
Depositories: Please see Uniform PTA Bylaws Article 11, Section 11.7
All depositories of local PTA funds, including checking, savings and investment accounts, must be approved by the board of directors.
This PTA’s funds are in the following depository/financial institution/bank:
(Provide name and address of all depositories.)
ANYWHERE Bank, Address, City, State, Zip; Phone: 919-319-4834
Contracts and other financial agreements: Please see Uniform PTA Bylaws Article 11, Section 11.8.
Financial Procedures established by board of directors and treasurer: Check Request Procedures
All requests for checks to reimburse an expense that has been paid on behalf of the PTA must be submitted on a digital or printed “Check Request Form.”
A “Check Request Form” MUST be complete and include originals or scanned copies of originals of paid receipts from Company/Vendor.
When possible, PTA purchases should be made separately from personal purchases.
The “Check Request Form” MUST also include the PTA Budget line item this funding request is from AND have the appropriate approval signatures.
Check can be paid from a purchase order; the receipt for payment must be obtained from the vendor when the check is delivered and given to the treasurer. The receipts can be scanned and sent digitally, handed in person (keep a copy for your personal records) or mailed to the treasurer.
The treasurer will mail all checks unless otherwise notified. Check Requests will usually be completed and mailed within one week of receipt. For quicker turn-around time for emergency situations, please contact the treasurer.
Money for cash boxes is obtained by submitting a completed ‘Cash Box Form’ indicating the event and date that the money is required. Please include any special instructions (number of tens, fives, etc.). Please arrange a pickup time with the treasurer.
Upon receiving and counting the cash, the treasurer will request that a “Cash Box Form” be signed as documentation for the check request.
Do NOT leave PTA funds at school.
Must be payable to SMS PTA
Dated (post-dated checks are not allowed)
Notation of purpose in the Memo Line
Please add and account for each check using a tape calculator or excel sheet with the total at the bottom. Do this twice to ensure accuracy. Submit both tapes along with the “Deposit Form.”
Organize cash in 20’s, 10’s, 5’s, and 1’s categories. Organize coins in quarters, dimes, nickels, and pennies, using paper rolls when full amounts are present.
Contact the treasurer to arrange a time to drop off the deposit.
Do NOT leave deposits at school or in the PTA mailbox.
Please provide the treasurer with the following documents:
As a non-profit 501(c)(3) organization, the PTA is not exempt from paying North Carolina sales tax on items purchased for use. However, the PTA is eligible for reimbursement of these state and county taxes on a semi- annual basis. The only exception to this rule is for purchases of items for resale during fundraisers. In these instances, please contact the treasurer for a certificate of Exemption to submit to vendor. In addition, PTA’s are not required to collect sales tax on these items sold through a fundraiser.
Please note: Only payments made on a PTA check are eligible for sales tax reimbursement, THEREFORE, please make every effort to use a PTA check when making large dollar amount purchases.