Council Finances
The council PTA is required to abide by the same financial policies and procedures as a local PTA.
Specific information can be found in the following resources:
- Utah PTA Treasurer Handbook
- Council and Region Financial Handbook
- Financial section of the annual Utah PTA President Handbook
- Treasurer section of the Utah PTA website: utahpta.org/treasurer
- National PTA’s PTA Financial Section of the ptakit.org (website account required to access resource)
A few points of emphasis
An adequate system of internal controls is just as vital for the council PTA as for the local PTA, including the following:
- Two signatures on all checks.
- Use of money counting, funds received, and check request forms.
- Prompt reconciliation of bank statements.
- Regular treasurer’s reports.
Creating a Budget
- A realistic budget should be based on prior year financial information as well as the goals you have set for the current year.
- Funds for leadership training (including Utah PTA conferences and conventions) should be included in the budget. Training is an important and authorized use of PTA funds. The costs involved in having council officers attend conferences and conventions are legitimate PTA expenses.
- Council dues should be set at a reasonable amount to cover the expenses of the council. Adjustments to the per-member council dues amount require an amendment of the bylaws.
- Additional assessments of local PTAs – including “fees” for Reflections entries or administrative expenses – are not appropriate.
- Councils must work with Utah PTA on any solicitation of charitable contributions. Contact the Utah PTA Treasurer for more information.
- In accordance with bylaws, the council budget must be approved by the council voting body at the first council meeting of the year (prior to October 1).
Year-End Financial Statement and Annual Financial Reconciliation Review Report
- In accordance with bylaws, an Annual Financial Reconciliation of the council treasurer’s books must be conducted at the end of each fiscal year and upon change in the office of treasurer.
- Also in accordance with bylaws, the Year-end Financial Statement and Annual Financial Reconciliation report must be submitted to the current executive committee no later than August 1 and presented to the voting body of the council for adoption at the first council meeting of the year.
- The Year-end Financial Statement and Annual Financial Reconciliation report must also be submitted to the region director/treasurer no later than August 15.
Tax-Exempt Issues
- Council PTAs must meet all IRS reporting requirements, including applicable annual IRS filing (Form 990EZ or 990N, depending on the amount of gross receipts).
- Council PTAs may request refunds of sales tax paid from Utah PTA using the same procedure used for local PTAs.