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The official mission of the PTA has no mention of fundraising; however the trend in school funding causes a challenge for PTAs. Many find themselves as fundraising agents for the schools to fill budget gaps. While fundraising is a legitimate activity for PTAs, it should never be a primary focus. However, a PTA can just as easily work on a project advocating FOR school funding as running a school fundraiser. PTA needs to work with fellow members, school administrators, parents, and teachers to find ways to improve school funding. Those efforts will yield results far more profound and lasting than any piecemeal fundraising ideas.
Remember the 3-to-1 Rule: For every fundraising activity, there should be at
least three non-fundraising projects aimed at helping parents or children, or advocating for school improvements.
For additional information and guidelines regarding PTA fundraising and budgets, consult the PTAs financial management guide, Money Matters.
The PTA Audit
An audit involves an examination of financial transactions and the procedures used to conduct those transactions. Its purpose is to assure both the membership and the executive board that the funds of the PTA have been properly administered and that good financial practices have been followed
The books and records should be audited annually or at any time there is a change in the position of treasurer or any other officer with financial signature authority. Any PTA member with financial signature authority for the association should NOT be the auditor or a member of the auditing committee.
Maryland PTA Bylaws Format allows the audit to be conducted by either an auditor or an auditing committee of no less then three (3) persons, PTA members selected by the executive board. The treasure is normally not present when the committee meets. PTA is a private organization, and the books and records belong to the membership. Non-members do not have the right to examine these records.
The treasurer should give the committee the checkbook, canceled checks, bank statements, deposit slips, income ledger, expense ledger, treasurer's reports, copies of bills, invoices, receipts, check vouchers, adopted budget, and any information requested by the audit committee.
The audit committee presents a written report to the executive board. The executive board is responsible for reporting the results of the audit to the membership.
Check the Treasurer's Handbook for more information.
Mid-November means it is tax time! Details….