Money Matters
Treasurer Time Line


Treasurer Time Line


* Prior to August Meeting - review / create new year budget for adoption


August - Secure & Pay PTA Liability Insurance



* Ensure prior year Annual Audit is complete 

* Sept 15 - Annual Audit submitted to KS State PTA office

* 1st General PTA Meeting of the new school year -Budget Adoption




* 1st of each month - KS PTA Membership Dues & Membership Roster (names/email addresses) submitted to KS PTA


* Nov 15 - 990-EZ or 990-N  to 
IRS Due
Copy of 990 must be sent to KS PTA office




MONTHLY:
**KS PTA Dues & Membership Roster (names & email addresses) submitted to KS PTA. 

**Monthly Unit bank reconciliation

**Monthly financial reports presented at each PTA meeting























 
  

                    Your President will be receiving information to share with you regarding your position as treasurer.
                    You have an incredibly important job for your unit, so be sure you give it the attention it deserves.


                    Guidelines: 

                    1. Annual Audit:  Verify that the Annual Audit has been performed and that the results are presented at your first general meeting.                                                         A copy of audit documentation is required to be sent to Kansas PTA no later than Sept 15. Email to: kansaspta@gmail.com 

                    3. PTA Insurance:  Make sure your PTA unit insurance is paid and active. Kansas PTA recommends Liability, Bonding, and                                                                      Director’s & Officer’s Liability. You are required to list Shawnee Mission School District as an additional insured.
                         RV Nuccio Insurance 
                    
                    4. SMSD Liability Insurance Proof:  You must send a copy of your insurance documents, by August 1, to SMSD, c/o Brenda Davis,                                                  at brendadavis@smsd.org.  

                    5. SMAC Dues / Clothing Exchange / SMEF Donations: are due to SMAC Treasurer by OCTOBER 1
                               
                    6. IRS Form 990-EZ, or 990-N (electronic postcard):  Verify this is completed and sent in for the previous year has been prepared or                                                  is in the process of being prepared.  This must be postmarked by November 15th, each year to the IRS. Keep a copy for your  records                                              and your bylaws require that you send a copy to the Kansas PTA, kansaspta@gmail.com, by November 15th each year.  
                        Yes, we have to  file taxes even though we do not owe taxes. 

                    7.  PTA Membership and dues must be sent to KS PTA MONTHLY.  
                         Dues Form
                        Membership Roster Form
                        Both forms must be submitted to kansaspta@gmail.com
 This form should be mailed each month with new membership submissions 
                    8. As a requirement of your unit’s tax-exempt status with the State of Kansas, you are required to file sales tax reports,                                                                                   even if you owe nothing.  You can do this at:  http://www.ksrevenue.org/kswebtax.html
                    
                    9. Never make financial decisions on your own. Your unit budget, as approved by the membership, will be your guide in all financial affairs.                                           If your budget needs amending, do so at a general meeting with a vote of the membership. 

                    10. All checks:
                                    -- require two signatures
                                    --are never to be signed if blank
                                    --are never to be payable to the Tresasurer unless two OTHER officers sign
    • 11. All PTA monies received should:  
    •               --be well-documented in your financial records as to who paid, what for and how much (Spreadsheets are wonderful for this.                                                At the very least a handwritten list of all checks should be submitted to you with the checks/money or you can make copies of the checks,                        but this is time consuming) 
      •    --be verified by others in PTA.  two people other than the treasurer should count cash prior to turning it into the treasurer and document who       they are and the amount they say is there.
      •    --never be deposited to anyone's personal account or any school account
        12. Always give a report of balances of accounts at every meeting of your PTA, as well as a budget report showing categories                                                                 of income and expenses.

        13. Stay organized. Keep your PTA treasurer records in an organized fashion so anyone could pick up the job if you should become unable                                       to perform your duties. 


        If you have any questions, feel free to contact us:  SMAC Pres   SMAC Treasurer    Kansas PTA Treasurer



ALL PTAs MUST FILE A FEDERAL TAX RETURN! 
Even though we are tax-exempt, we must still file a return to protect our tax-exempt status. If your unit’s gross income (this is all money that enters your bank account) is $50,000 or less, you file a form 990- N, which is an “e-postcard” filed online. All others would file a 990-EZ either paper or electronically. Your 990 must be filed by November 15th of each year
Also, in order to remain a “Unit in Good Standing” with Kansas PTA, your unit must send a copy of your 990-N or 990-EZ to the Kansas PTA office by mail or email by November 15th of each year. 






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