The financial review is for the 2011-2012 fiscal year. The fiscal year begins on July 1 and ends June 30.
The entire form should be completed and returned to Kentucky PTA, P.O. Box 654, Frankfort, KY 40602.
Also ALL PTAs/PTSAs must file with the IRS by November 15 of each year.
Finanical Review Form due on or before August 15 of each year
Outgoing treasurer should:
- Be sure all district, state/national dues have been paid.
- Balance the books to be ready for an audit.
- Be sure the PTA books agree with the bank balance and outstanding checks,plus cash on hand.
- Prepare the annual report covering the term of office.
- All PTAs/PTSA must file with the IRS - E-Mail IRS Form 990N by 11/15/2011 if your income was less than $25,000
- Submit IRS Form 990 or 990EZ and Schedule A by 11/15/2011 if your income is over $25,000.
- Arrange for transfer of all materials to new treasurer.
- Obtain and file new signature cards with the bank so the new treasurer will be authorized to sign checks without delay.
- Forward the 2010-2011 Financial Review Form to the Kentucky PTA office.
Incoming treasurer should:
- Be sure that the books have been audited before accepting them..
- Check the files and records received from the retiring treaurer. Ask about missing records immediately.
- Get signatures of new officers who are authorized to sign checks and file signature cards with the bank if this was not done by the outgoing treasurer.
- Check on bonding and liability procedures.
- Study the materials provided by National PTA and Kentucky PTA on financial matters.
Treasurer information adapted from National PTA Money Matters Quick-Reference Guide.
