The object of the Budget or Finance Committee is to develop a financial plan for procuring and apportioning funds to meet the needs of the year’s activities as planned by the PTA. Funds needed for administrative work, committee activities and programs, State Leadership Conference and convention expenses, liability and bonding insurance, special projects, district meetings, council dues if your unit pays a flat fee (not per member) for council membership, publications, scholarships, and other expenses should be included in your budget.
HOW TO IMPLEMENT PLANS. Present a statement at each regular meeting of the executive board, showing amounts spent. Recommend to the association any budget amendments necessary for the effectiveness of the local unit’s work and to reflect the true financial picture of the association. It is important to remember that fundraising is not a primary function of a PTA. Before approving proposals for material aid to the school or community, the executive board should consider whether the proposed equipment or service is a public responsibility and should be paid for out of public funds. The adopted budget serves as a financial guide for the year and may be amended by a vote of the association at ANY regularly scheduled meeting or at any special meeting called for that purpose. Any additional expenditure not provided for in the budget must also be presented to the association for approval. The treasurer shall make disbursements in accordance with the approved budget, and the treasurer cannot pay bills not included in the budget until authorized by the association.
MULTIPLE ACCOUNTS. Under state and local bylaws, the treasurer is the sole, legally responsible, authorized custodian, elected by the members, to have charge of the funds of the PTA. At certain times there may occur circumstances when the PTA may want to have a separate bank account for a special project or function (i.e., after-prom party, after-graduation party, scholarship fund, etc.). THERE IS NO RULING FROM THE IRS OR STATE AND NATIONAL PTA THAT FORBIDS A PTA FROM HAVING MORE THAN ONE BANK ACCOUNT. However, any project, function, or activity sponsored by the PTA (i.e., voted on by the membership and using the PTA’s EIN number) that generates or uses PTA funds is the responsibility of the PTA Treasurer. Separate treasurers for specific projects are in violation of local unit, council, and district bylaws and are prohibited.