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Welcome Newly Elected Treasurers!
I would like to introduce myself as I too am a newly elected treasurer. My name is Deborah Childers and last year I was the financial reviewer for Ninth District PTA. In June I was elected to become the new Ninth District PTA treasurer. I have been treasurer for units and councils throughout my 20+ years in PTA but this is my first time as a district treasurer. I will be learning new things too!
Being the new treasurer can be a little daunting, but hopefully, the previous treasurer has passed on all the financial documents, procedures, and tips to help you get off to a great start. Here are some important items to work on before the school year starts.
Work with your president to contact the bank and find out what the bank requires to add new account signers, remove old officers, and update access to the accounts. Each bank is different so find out what you need to make this a smooth transition. Most banks ask for signed meeting minutes for the election and bylaws. Be sure the bank does not offer you debit cards or credit cards. Unit and Council PTAs cannot have these as they violate the two signature rule.
Hopefully, you were able to work with your budget committee to get your 2024-2025 Proposed Budget approved. During the summer I recommend you meet with the committee to review your proposed budget and make any revisions. Your budget needs to be approved by the Association before funds can be spent, so if you were unable to meet and approve the budget before the end of the last fiscal year, you will need to do it at the first association meeting.
The treasurer has quite a few documents to present at the first association meeting so be sure to plan ahead to get everything ready. The list below will help you be prepared.
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2023-2024 Year-End Financial Report (the previous treasurer should have completed this)
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2024-2025 Proposed Budget (be sure to make motions to approve the budget, and release funds for fall events.)
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Treasurer Report from last Association Meeting to June 30th. (Include beginning balance, income, expenses, and ending balance. This can be completed now)
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Treasurer Report from July 1 to present. (Include beginning balance, income, expenses, and ending balance. Present does not necessarily mean the meeting date but should be close to the meeting date.)
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Make a motion to Ratify checks from the last association meeting to the present. State check numbers and total expenses.
Remember that as the treasurer you are responsible for ensuring funds are spent as outlined in the budget. You also need to be sure that the correct documentation with receipts is provided before checks are written and that all checks have 2 signatures.
The Ninth District PTA website has resources and videos to help you as you learn your new role. The finance toolkit is a great resource to help you do finances the PTA way. If you are not sure how to do something, do not hesitate to ask. It is always better to do it right the first time than to go back and correct it later.
Good luck and if you need any assistance be sure to contact your council or me at treasurer@ninthdistrictpta.org.
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