REIMBURSEMENT OF EXPENSES
o To be reimbursed for a committee expenditure, you must submit a completed Request for Payment form.
o Original Receipts must be attached.
o The Request for Payment form can be obtained from the Treasurer’s PTA box and
duplicated as needed.
o Completed forms and corresponding receipts should be placed in the Treasurer’s PTA box or given directly to the Treasurer.
o Reimbursements cannot be made unless original receipts and a completed form are submitted.
HANDLING OF FUNDS
o ALL cash and checks collected by a committee are required to physically remain on the Austin campus.
o Any time cash from a PTA school event is unable to be placed in the school safe it must be counted and verified by 2 signatures prior to leaving the building. After verification the cash must be held by the VP of the committee, the PTA President, the treasurer or assistant treasurer only. Use Cash Verification Form for this process. Form can be obtained from Treasurer’s PTA Box or Austin Website.
o Cash and checks need to be locked in the safe – which is in the office - for safekeeping. Mrs. Williams/Ms. Page will be able to assist with this.
o This policy is consistent with the requirements outlined in the PTA Bond Policy. The bond policy does not cover funds which disappear by loss, so it is important to not keep checks or cash at home.
o When funds are collected, please coordinate their transfer to the PTA Assistant Treasurer so that the money can be deposited as soon as possible.
DEPOSIT OF FUNDS
o Committees collecting cash and checks must complete a Deposit Information Form before the funds can be deposited.
o The Deposit Information Form can be obtained from the Treasurer’s PTA box or the Austin website and duplicated as needed.
o Copies of all checks must accompany the Deposit Information Form. The photocopies are required for the annual PTA audit. Please ensure all information in the check is copied including account number at the bottom of the check
o Any coins must be rolled in coin rolls.
o Large amounts of cash should be strapped in cash straps.
o All deposits are required to be submitted within 5 days of receipt of the funds to ensure accurate record keeping.
o All deposits should be given immediately to the Assistant Treasurer or stored in the office safe until arrangements can be made for the Assistant Treasurer to pick them up.
Note:
o It is not necessary to submit to the Assistant Treasurer a list of individuals who paid
cash. However, YOU should keep a record of all money received or spent by your committee regardless of the method of payment (i.e. cash, credit card or check). All deposits should also balance to your individual committee list(s). At a minimum, the list(s) should contain the name, telephone number, amount paid, and payment method (check number if applicable) for each transaction. Please contact the Treasurer if you would like further information and/or assistance in this area.
o Please keep a copy of all completed forms in your committee notebook. This will help to serve several purposes: (1) Determine the committee revenue and expenses; (2) Assist in forecasting budget request for next school year; and (3) Provides useful information to the next committee chairperson.
COMMITTEE REPORTS
o You will receive periodic feedback from the Treasurer to assist you in tracking your budget. This information is also available upon request.
BUDGET AMENDMENTS
o If, during the course of the year, you find you are approaching your budgeted expense limit, and you anticipate exceeding that amount, you MUST obtain PTA Executive Board approval to increase your budget prior to exceeding your budget.
o You must remain within your current budget limit until an increase is authorized.
The procedure for obtaining approval is as follows:
1. Complete the Budget Amendment Request for Approval form PRIOR TO exceeding your current budgeted expense limit. The form can be obtained from the Treasurer’s PTA box and duplicated as needed. The completed form should be returned to the Treasurer’s PTA box, given directly to a PTA Executive Board member, or to Dr. Culbreath (for teacher or staff members only).
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The PTA President will be notified and will then call an Executive Board meeting to present your request.
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A vote will be taken on the request and you will be notified of the outcome.
NET PROFIT SPENDING
o Net profits from fundraising projects are unrestricted.
o The PTA Executive Board finalizes how all of the year’s total fundraising net profits
will be spent and obtains approval from PTA members.
Thank you for your willingness to serve as a PTA committee chairperson. We hope this helps explain how the PTA budget process works. It is very important for all of us to work together to provide the best school experience possible for our children. If you have any questions regarding these procedures, please contact Karen Scazzero, Lisa Chatigny, Sharon Cohen or Debbie Boden.
Name
Karen Scazzero Lisa Chatigny Sharon Cohen Debbie Boden
Role
Treasurer Asst Treasurer Co-President Co-President
PTA Budget Procedures
Austin Elementary PTA
and
Austin Eagle Foundation
