TREASURER'S
Corner
June 2023

Texas PTA Treasurers,

Summer is here! My family is already settling into a little less of a routine and having more time to spend together. How about yours? Before you completely take a break for the summer, here are some final things for you to think about and complete so the incoming treasurer will be ready to go!
  • Transition & Have Incoming Treasurer Register as 2023-24 PTA Leader: Please be sure to fully transition your duties and records to the incoming treasurer and have them register as a 2023-24 leader. Inform the new treasurer that they should complete the Basics training available at txpta.org/courses. If you are returning as treasurer, you will also need to register for 2023-24. This will ensure next year's treasurer gets important updates and the Treasurer’s Corner next year!
  • Prepare for the Financial Reconciliation: The president should have appointed the Financial Reconciliation Committee members at the annual meeting. Now that your year has ended, or is ending soon, you should prepare a final annual financial report through the end of the year and provide all other treasurer records mentioned in the Financial Reconciliation Checklist and Report to the committee for review. Visit the Financial Reconciliation page for more on this process including the records to be reviewed by the committee.
  • File Your IRS Form 990: Mark your calendar now to electronically file the appropriate IRS Form 990 within 60 days of the PTA’s fiscal year end. Not sure when your PTA’s fiscal year ends? Check your bylaws Article XIII, Section 1. If you file a 990-N, you can file the day after the fiscal year ends. You can find a written filing guide and a video on how to file a 990-N on our website at txpta.org/treasurer. If you file a 990EZ or 990, check out these IRS approved e-file providers and be sure to prepare a draft of the filing for the financial reconciliation committee. You will then electronically file the 990EZ or 990 immediately following the financial reconciliation.
  • Attend LAUNCH! We can’t wait to see you at LAUNCH this summer. It is July 21-23, 2023 at the Hilton Anatole in Dallas. This is a great way to be ready for next year. Come take the required Basics Treasurer course in person and attend optional courses on Sales Tax, Budgeting, Going Paperless and more. Check out the Texas PTA LAUNCH Webpage to register.
Register Now!

Please let me know if there is anything I can do to help,

Kim Belew
Texas PTA Treasurer
treasurer@txpta.org
MONTHLY
  • Deposit funds and make payments as needed. Ensure proper documentation is maintained for the PTA's records.

  • Record transactions including sales tax and state/national dues as a liability (it may be called an escrow depending on the type of financial software you use).

  • Coordinate with the membership chair to submit members/dues to Texas PTA.

  • Prepare financial reports (dated from the last meeting to current meeting).

  • Propose any budget amendments for membership approval, if needed

  • Reconcile the checkbook/financial software to the monthly bank statement.

  • Reconcile any e-commerce, credit card or merchant accounts to the monthly account statement.

  • Check the Local PTA Roster to confirm that your PTA is in good standing. If not, follow up on what’s missing.
  THIS MONTH
  • Prepare to electronically file the appropriate IRS Form 990.
  • Prepare for the financial reconciliation.
  • Prepare a sales tax return to file by July 20th, if your PTA files quarterly.
  • Check liability balances. If state and national dues remain, forward membership roster and dues to Texas PTA. If sales tax remains, either file quarterly return or prepare documentation to provide to the incoming treasurer to support the annual filing.
 TREASURER RESOURCES
Setting up an item to sell

You can sell items on a fully customizable online store that is integrated with the MyPTEZ ledger allowing the transactions to be logged in real time! To set up items to sell on the online store, click on “Admin/Item Admin”:
After selecting “Add Item” you can pick from 4 options; Membership, Product, Donation and Kit. Select the Item Type to continue building the item:
Depending on the Item Type you have selected, you will have specific required fields to complete to add the item. Enter the item category, item name, item price, and income category associated with the sale of the item. You can also add options including size, color, teacher name, etc. Once you have completed setting up your item, select “Add” and the item will become available to add to the online store.
Click here for all tips to date. 

Q: A Our financial reconciliation is going on right now and we’ve had an emergency come up and need a check written now before the review is complete. What do we do?

A: A funds request form should be completed and the related invoices/receipts should be attached and given to the incoming treasurer. Click here for more information on this question and for previous Questions and Answers of the Month.
Read last month's Treasurer's Corner here.

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