The real responsibility for a new president and board begins on July 1, when most PTA officers take office. There are a number of summer tasks that should take place:
- Check Signing Authority – The incoming officers must visit your bank during the summer to complete new bank authorization signature card. Check in Article VI Section 6 (f) in your bylaws to determine who can and cannot sign checks. Call your bank to see what documentation you will need to bring along.
- Annual Financial Report – The outgoing treasurer is responsible for completing the year-end Annual Financial Report after the close of the fiscal year and before turning the books over to the auditor. A copy of this report is submitted to your district PTA – and your council, if you are in a council PTA – in the fall.
- Year-end audit – The fiscal year-end for most PTAs is June 30. The year-end audit should be completed by the outgoing (2014/2015) unit auditor as soon as possible during the summer months to allow for the treasurer for 2015-16 to get started. A copy of the year-end audit – audit form, checklist and recommendations/findings – is submitted to your district PTA – and your council, if you are in a council PTA – in the fall.
- 2014-2015 Taxes – Once the 2014-15 audit is completed, the federal and state tax filings can be completed by the outgoing treasurer or a paid tax preparer. Tax filings and the RRF-1 are due on November 15th if the fiscal year ends June 30. Do not fail to ensure these required government filings are completed.
- 2015-16 Budget – The board-elect may have presented a proposed budget to the association in June but if not, they should prepare one during the summer to bring to the first association meeting in the fall for approval.
These key summer activities will help your new board hit the ground running and assist in preparation for a stellar PTA year!