Fiscal Fitness – Tips for Treasurers It’s a new school year and there’s lots going on! Please make time to check these important items off your Treasurer list to get off to the best start!
Good-bye 2022-2023 Most likely your fiscal year ended June 30, 2023. Check your bylaws! The outgoing and incoming treasurers should work together to “get it done”! Prepare the 2022-2023 year-end treasurer’s report Arrange for the Financial Review / Audit Prepare and file the IRS 990 report. See the FAQ. Submit the completed audit and the 990 to Michigan PTA through the Givebacks (formerly MemberHub) Compliance section. Transfer materials and electronic access to accounts (bank, Stripe (for Givebacks store payments), email, OneDrive, GoogleDrive, ...), software (spreadsheets, Quickbooks), etc. to the incoming treasurer.
Hello 2023-2024 Update signatures on the bank account(s). Check your bylaws to see which three officers are designated as signers. You will need a copy of the minutes of the meeting where the new signers were elected. It is also helpful to provide the bank with a letter on PTA letterhead stating who is coming off the account, who is being added, and who remains on the account. Plan a budget for 2023-2024 and present it for approval by the members. Submit the approved 2023-2024 budget to Michigan PTA through Givebacks (MemberHub).
First PTA meeting of 2023-2024 The year-end treasurer’s report, coupled with the financial review and the 990 filing are official records of the PTA/PTSA. As soon as they are complete, you’ll want to present these documents to the membership and make it official. Here’s to a smooth start to 2023-2024! If you have questions, please ask. Sandy Winkler Treasurer, Michigan PTA treasurer@michiganpta.org
