10 Key Finance Practices for All Board Members

  • The assets of PTA are not measured only in its treasury but in the work of the members and volunteers to serve the mission and purposes of PTA
  • No other organization may pass money through PTA accounts
  • No reimbursement is paid without a receipt and signed expense form. Reimbursements must be from an approved budget line item
  • Money is counted by at least two people at the same time, and an itemized receipt form is signed by both persons. The money is then given to the treasurer, who also counts the money and signs the receipt form.
  • PTA monies should never be deposited in a personal or school account
  • PTA funds should never be kept at home or school but should be deposited in the bank daily
  • Money is never “turned over” to the school and/or principal to spend at their discretion.  PTA accounts should not be “cleaned out.”
  • Bank signatures need to be updated annually
  • Meeting minutes should include a record of all financial approvals and transactions
  • A financial report should be given at every meeting of the PTA
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