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Finance

 

Financial officers are elected to manage the fiscal operations of the unit, council and district PTA. These officers include treasurer (required), financial secretary (optional) and auditor (optional). All unit, council and district PTAs are required to have an auditor who may be elected, appointed, or hired in accordance with bylaws.

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Upon assuming office, the incoming treasurer obtains the following from the outgoing treasurer: supplies, ledger, checkbook, tax records, and all other treasurer materials. Each financial officer needs to obtain the procedure book from the previous office holder. Additional materials may be obtained from the bank or purchased from the California State PTA office. The new treasurer must also contact the bank to file new signature cards for checking and savings accounts. Banks may require minutes of the election meeting recording names of new officers.

These items are necessary for the financial operation of the association. When a new unit is established, the treasurer should request assistance from council or district PTA in obtaining them.

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The outgoing treasurer cannot pay bills after the books are closed for audit or after the term has ended. Books being audited may not be available immediately. The California State PTA recommends that if the audit is not completed within two (2) weeks after the end of the term of office, the president may appoint a committee to immediately audit the books. The same time frame must be followed for the semi-annual audit. Upon assuming office, the incoming treasurer may pay authorized bills and deposit funds in the PTA bank account before the audit is completed.

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Finance Resources

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Audits

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Banking

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Charitable Trust

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Payment Authorization

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Remittances

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Taxes

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New Workers’ Comp Annual Payroll Report Process

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The Workers’ Compensation Annual Payroll Report is a document that every PTA in the state is required to submit for insurance purposes by January 31, 2023. It is used to indicate if you paid anyone (including employees and independent contractors) for services, and the amounts you paid, if any. This report is required annually, even if you did not pay anyone. 

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Send reports directly to AIM, not your council or district PTA. The Workers’ Compensation Report, and any surcharge that might be due, should be sent directly to AIM. Reports should NOT be sent through channels.

 

Links to forms, instructions, and other resources

 

If you have any questions about the Workers’ Compensation Annual Payroll Report process, the report forms, or Workers’ Compensation coverage in general, please contact AIM. AIM has a rich and deep understanding of PTA and has partnered with 47 state PTAs for more than 30 years. AIM has an experienced team that is available to support your local PTA 24/7 including weekends. AIM can also answer questions and provide information in Spanish if needed.

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Conflict of Interest / Whistleblower Policy

As board members of a nonprofit organization, we have a fiduciary duty to conduct business in a manner that is transparent and appropriate and in line with state and federal law governing nonprofits.

Every board member is responsible for knowing and understanding the parameters of the PTA Conflict of Interest and Whistleblower Policies.

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In addition, each year, every board member needs to complete the Conflict of Interest / Whistleblower Form.

Please make sure each council board member and unit board member is provided with a copy of the Conflict of Interest Policy and completes and signs the Conflict of Interest and Whistleblower Form.

The completed and signed forms should be retained by the unit or council treasurer as part of the organization’s corporate records, along with the tax filings.

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