Treasurer’s Report
WIS PTO 2011-2012
What is a PTO Treasurer:
The PTO Treasurer is the custodian of the PTO’s funds. The PTO funds belong
to the PTO membership – not the officers, the executive board, or the principal.
The treasurer is expected to perform the duties in a timely and accurate manner.
The treasurer must apply sound financial controls and best practices to ensure the
security of the group’s funds. The treasurer must readily provide financial
information to support PTO decision-making. As a member of the executive
board, the treasurer represents the PTO and thus his/her actions reflect upon the
reputation of the PTO and the school.
Treasurer’s Role:
The Treasurer shall receive and disburse, as set forth below, all the funds of the
Weston Intermediate School PTO, Inc.; and keep an accurate account of said
funds. The Treasurer shall prepare and submit a proposed annual operating
budget and a closing financial statement to be presented to and approved by the
Executive Committee and the regular membership at their September meetings,
and, upon request of the Executive Committee, shall make a monthly financial
report at each regular membership meeting. The Treasurer shall be responsible
for filing all tax returns for the Weston Intermediate School PTO, Inc. The
Treasury shall be maintained in an account with a Connecticut banking institution.
Only the Treasurer and President shall be authorized to make withdrawals of
funds from the Organization’s account. The President and Treasurer shall be
required to co-sign for any withdrawal in excess of five thousand dollars
($5000.00). The Treasurer shall be a member of the Philanthropy Committee.
Philanthropy Requirement:
You are required to attend every Philanthropy meeting. If you need to miss one,
make sure the Philanthropy Chair notifies you with the results; so you can be
prepared. You do not add them to your Philanthropy report until after general
membership approval.
It is the responsibility of the Philanthropy Chair to notify the requestors of
approved Philanthropy requests. It is your responsibility to finalize payment
and process the requests when they are submitted for payment.
Government Responsibilities:
 Connecticut Secretary of State payment – annual filing fee for incorporation
in the state of Connecticut.
 Taxes – prepare files for Tax Accountant.
 Maintenance of Tax Exempt Status – renewing, maintaining copies of
paperwork and forms, distributing tax exempt forms to members for
purchases.
Treasurer’s Binder
It is your responsibility to maintain the Treasurer’s Binder.
Update the Manual and pass it along to the next Treasurer.
RESPONSIBILITIES
Audit--Per our insurance coverage, we are required to have the books audited annually.
You can use the Tax Accountant, who files our taxes annually, as our auditor, in
addition to the person who is signing the monthly bank statements.
Bank Statements--Per our insurance coverage, we are required to have our bank
statements signed or initialed by someone on the board, who isn't a signer on the bank
accounts.
Banking--The Treasury shall be maintained in an account with a Connecticut banking
institution. Only the Treasurer and President shall be authorized to make withdrawals
of funds from the Organization’s account. The President and Treasurer shall be
required to co-sign for any withdrawal in excess of five thousand dollars ($5000.00).
The 3 authorized signers on the account: Treasurer, President, Past President.
Bounced Checks--If someone bounces a check, send them the Bounced Check Letter. If
the bounced check was from a fundraiser, notify the proper chair to hold product until
the outstanding debt is satisfied. If they don’t respond in 4 weeks, send them a
second notice and CC the President.
Budget--Once the budget is approved by both the Executive Board and the General
Membership at the September General Meeting, budget letters/emails are distributed.
(These can be made up ahead of time.)
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Update the Budget Statement Letter List.doc with the correct budget
amounts
Update the Budget Statement Letter.doc with the updated Treasurer
information
Merge the letter with the list and print or email
Update the Envelope List.doc with the new Board members, only if
printing
Merge the Envelope Template.doc with the envelope list and print
In each envelope include the following:
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Merged Budget Letter to Board Member
The correct reimbursement form
Deposit form, if it applies
Tax Letter/Form to use for expenditures
The budget letters are usually passed out at the September General Meeting after the
membership approves budget.
Budget Preparation & Committee--The budget is not only a guide, but also a working
document, which estimates revenue and expenditures. It shows a plan for obtaining
funds, for spending those funds to meet the needs of the PTO’s yearly activities, and
should allow adjustments when those estimates are not exactly accurate.
When revenue falls short of expectations, it is necessary to reduce or eliminate
planned expenditures. If an expenditure has exceeded its allocation, it may be
necessary to make a cut elsewhere to make up for the overage.
Small deviations from the budget are to be expected. However, it is the responsibility
of the entire executive board to explain any significant differences in estimated and
actual figures.
As Treasurer, you are called upon to organize this committee in order to prepare the
annual budget. If you are not able to meet before the end of the school year, make
arrangements to meet in early August. The final budget must be presented to the
Executive Board at their first meeting prior to the September General Meeting.
It is to be presented and approved, first by the Executive Board and then presented
and approved, second by the general membership at the September General Meeting.
The committee should include the following: Current President, Past President,
Current Treasurer, Past Treasurer, and Philanthropy Chair.
Business Filing--You are required to annually file and submit payment for the filing fee
in regards to the PTO’s State of Connecticut Business Filing Report.
Cash Boxes & Funds (SEE START-UP FUNDS & TIPS REQUEST)--You are
responsible for all PTO physical cash boxes, which is kept in the PTO closet at
school. Include cash box instructions inside the physical cash boxes (taped inside).
Donations $250 and greater--If someone makes a donation of $250 or more, you are
required to send them a Tax Letter acknowledging the donation. However, it has
been customary to send every donator a Tax Letter.
Files--Keep the Operating paperwork in a separate binder from the Philanthropy
paperwork.
Operating Account Binder:
 ALL meeting Agendas, Minutes, Treasurer Reports
 Checks Written, with all backup
 Deposits, with all backup
 Bank Statements, with reconciliation
 NSF/Returned Checks Paperwork
 Tax Letters
 Plastic folder to hold Filed Tax Return for that fiscal year
 Plastic folder to hold Treasurer Files disk
Philanthropy Account Binder:
 Checks Written, with all backup
 Deposits, with all backup
 Bank Statements, with reconciliation
 NSF/Returned Checks Paperwork
 Tax Letters
Fundraiser Budgets--Various expenses as part of fundraisers go against the fundraiser’s
profits. They do not have a budget per say, but give them a guide to reasonableness
and provide them with a budget.
Insurance--A renewal will be mailed from AIM (due in mid-November) for PTO
volunteer coverage. Coverage requires bank statements to be signed by an Officer
not already on the bank account, as well as an annual end of the year audit. The Tax
Accountant is used to satisfy this obligation.
Quickbooks--Accounting program used to track and reconcile all activity in the PTO’s
bank accounts. Payees are categorized as “Other.” Deposits have a deposit payee.
The memo field is used to itemize the items on each check payment and deposit
made.
Event reports have already been created for each reported event and each fundraiser.
These reports are used for the Treasurer, the event Chair, and the Tax Accountant. At
the beginning of each fiscal year you will memorize each of reports from last fiscal
year as new reports. You memorize them under the new fiscal year that you have
created (one for Operating and one for Philanthropy). In each new memorized report
you will need to update the fiscal year dates, the report header to reflect the new fiscal
year, and include any new subcategories, if any were added in the event.
You will not need to create any new reports, unless the PTO has
added a new fundraiser.
Reconciling Reports--After you’ve reconciled and printed the Quickbooks’ reconciled
reports and attached them to each bank statement, save each of the reconciled
monthly reports as a .pdf under the Bank Account Folder.
Records Retention
Permanent: Charter, Bylaws, Check Register, Minutes and Agendas, Reports made
to Federal/State Agencies, and Audit Reports/Financial Reviews.
Seven Years: Cash Receipts, Invoices.
Three Years: Records, Bank Deposits and Statements, General Correspondence,
Budgets and Petty Cash Records.
Reimbursements/Check Requests--At your first meeting in June, and periodically, lay
out your requirements. At this time, each chair should receive their budget numbers
(see Fundraiser Budgets for Philanthropy budgets), a copy of the tax-exempt form,
along with the proper reimbursement form for their budgeted items. Make it clear
that they are not to go over their budget and that it is their official budget, regardless
of what is written in their reports or on any other document.
Explain the procedure of attaching receipts/invoices to the completed reimbursement
form, with them leaving the completed form in your box in the front office. Make it
clear that you need notice and proper paperwork. Establish that you will not
reimburse sales tax. This is proper IRS procedure. You should also reiterate that
they must submit receipts in the year they are incurred otherwise it is too late.
Leave extra reimbursement forms and tax-exempt forms in your box.
Reports--You are required to provide an Operating Report and a Philanthropy Report at
each executive and general meeting. Don’t feel the need to publish different ones –
the same one for the executive meeting can be used for the general meeting.
For each new report (in both Operating & Philanthropy) you will create a
copy (right click on the current tab) and move (select create a copy & select
move to end) the new report to the end of the Excel spreadsheet. Then
rename the tab at the bottom to reflect the correct name.
Secretary of State--You are required to annually submit payment for the PTO’s annual
business filing fee. This $25 is paid in mid-July of each year. (See Business Filing.)
Start-Up Funds & Tips Request--You are responsible for all PTO start-up cash for
events. Check with chairs, prior to event, on what their cash requirements are. If the
chair(s) need advice, give them the information from the previous year’s cash
requests. They need to complete a Cash Box Request.doc form.
You are also responsible for all PTO tip requests for events. Check with chairs, prior
to event, on what their cash requirements are. If the chair(s) need advice, give them
the information from the previous year’s cash requests. They need to complete a Tips
Request.doc form.
Stop Payments--They are expensive. Only place a stop payment on a check that has a
value greater than the stop payment fee. Anything smaller should be written-off and
either rewritten or credited back into the same account.
Taxes--You are required to prepare and file the taxes with the Tax Accountant a month to
two months prior to the “Tax Deadline” for WIS, which is 5 months after the end of
the fiscal year. Monthly Bank Reconciliation is also required. TAXES are DUE by
DECEMBER 15th! FYI--Weston Public School Tax ID # 06-600-2127
We email the following files:
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201x-201x List of Officers and Directors (from fiscal year, before the
transition of current officers)
Quickbooks Trial Balance (fiscal year ending)
Quickbooks Special Reports: Event Transaction Detail (fiscal year ending)
Quickbooks Transaction Detail Report for Philanthropy (fiscal yr ending)
Quickbooks Transaction Detail Report for Operating (fiscal yr ending)
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July 31, 201x Bank Reconcilements for both Philanthropy & Operating
(fiscal year ending), which includes copies of bank statements for both
Our Tax Accountant:
Harvey Gersten
75-02 113th Street
Forest Hills, NY 11375
HARVEYCPA1@aol.com
1-718-570-7573 631-789-5758
Uncashed Checks--As the end of the year approaches, anything old (after you’ve
already made every attempt to either locate the outstanding item and/or contact
the person to cash the check) should be written-off and credited back into the same
account. Use your judgment. Larger amount checks should also have a stop payment
placed on them.
Unrelated Business Income IRS Form 990-T--Since the PTO is exempt from federal
income tax under section 501 (c) (3) of the Internal Revenue Code, the PTO does not
pay federal income tax on income from activities that are substantially related to the
purpose for which the PTA was given exempt status.
However, the PTO may be required to pay tax on other types of income, referred
to as “unrelated business income” (UBI). The law requires nonprofits to:
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Report unrelated business activities when gross receipts are at least $1,000 by
filing IRS form 990-T
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Pay taxes on such income
Nonprofits risk losing their tax-exempt status if such activities become the primary
focus and make the tax-exempt mission secondary.
Government judgment is made on a case-by-case basis whether an activity is
related or unrelated. The federal, state and local government may have different
standards for pursuing the charge of UBI, although most state and local governments
follow the federal rules.
What is UBI?
1. From a business:
 To be considered a business, the non profit must take an active role in the
generation of the income from an activity.
 The activity must provide income, but does not have to produce a profit.
2. Regularly carried on:
 IRS regulations state that activities which are carried on only
“discontinuously or periodically”: will not be considered to be regularly
carried on.
 If activities are of short duration, but follow-up preparation is carried on
over a long period, it could be UBI.
 An activity occurring only once per year may be considered UBI if a
commercial company performing the same activity would also be active
only once a year.
3. Unrelated to the organization’s tax-exempt purpose:
 If an activity is not substantially related to the PTO’s mission, then it
could be considered unrelated to fulfilling the exempt purpose of the PTO.
 It is important to remember that the substantial relation to the PTO’s
exempt purpose cannot come solely from the PTO’s need for money.
OPERATING ACCOUNT -- ITEMS
Interest Income--No form necessary. In the Quickbooks memo field: Month interestrate% and # days.
Family Fun-- Box Top, Stop & Shop, Target, and Family Fun Nights' money gets
deposited into the income account, so that WIS can subsidize the Family Fun Nights
through the expense account. Box Tops/ Stop & Shop/Target/Family Fun Nights is
coordinated by the Vice President. Use the Misc Deposits.doc form and circle
Philanthropy, for designation.
Box Tops--After they’ve processed their paperwork by the October
deadline, they will notify you of the amount of the first check. This
check will arrive at the end of January. After they’ve processed their
paperwork by the February deadline, they will notify you of the
amount of the last check. This check will arrive in May.
Stop & Shop--This check will arrive at the end of the school year.
Target--This check will arrive at the end of the school year.
Checks/Cash:
1. Use the Misc Deposit Form
2. In the Quickbooks memo field: “Earnings through date”
Field Day--Expenses include: Pretzels, Cups, Oranges, PJ's Ice Pops, and the Inflatable
Bounce Slides for each of the grade's Field Days.
HOLDING Account--This account is used as a clearing account. Money placed into this
category are funds that were deposited into the Operating Account through EFT or a
deposit error, but are designated for the Philanthropy Account. At the end of each
month and before the end of the fiscal year, transfer these funds from Operating to
Philanthropy by writing an Operating Check and depositing into the Philanthropy
Account.
Insurance--A renewal will be mailed from AIM (due in mid-November) for PTO
volunteer coverage. Coverage requires bank statements to be signed by an Officer
not already on the bank account, as well as an annual end of the year audit. The Tax
Accountant is used to satisfy this obligation.
Jr. Great Books--You’ll get checks from the Jr. Great Books Chair. Use the Jr Great
Books.doc form. Every check needs to be written out on the deposit slip,
alphabetization optional. Make sure that you have the same amount collected that
was spent on the books for the kids, so you aren't short money. The training
costs/books are separate and are budgeted for 3 new trained parents, per year.
Checks/Cash:
1. Use the Jr Great Books Deposit Form
2. Write “Jr Great Books” at the top of each check, for designation
3. In the Quickbooks memo field: Last Name, First Name
Membership Income--You will get a monthly check from the Middle School (during
membership drives and possibly throughout the year, if there is activity) for the dues,
donations, directories, less any credit card fees charged. For any donations, you will
need the exact amount and the name of the donor, so you can prepare tax letters (See
Donations....)
Checks/Cash:
1. In the Quickbooks memo field:
Memberships: # Memberships
Directories: # Extra directories Purchased
Donations: name of person who donated
2. Mail donation letters for those who donated
Misc. Board Luncheon--You’ll get checks at the luncheon. Use the Misc Deposits.doc
form and circle Operating, for designation. Every check needs to be written out on
the deposit slip, alphabetization optional. The Vice President will then give you the
final luncheon bill at the conclusion of the event.
Make sure that you bring a check for payment, if needed.
Checks/Cash:
1. Use the Misc Deposit Form
2. Write “Bd Luncheon” at the top of each check, for designation
3. In the Quickbooks memo field: Last Name, First Name
Panoramic--These 5th Grade photos are sold at the end of the year and are typically sold
only to the 5th graders' parents, as the photo only consists of ALL the kids in the 5th
grade class. They are sold for exactly what it costs us, so Income & Expense should
be the same budget number.
Teacher Supplies--At the beginning of the year, the Philanthropy Chair contacts the
Grade Team Leaders to see if the PTO can supply the Teacher's Lounge with any
misc. items, like cups, plates, dish soap, etc.
Website Payment--The annual fee for the PTO website is due by February 7th. The bill
goes directly to the Website Coordinator in January. Follow up with the Website
Coordinator to get the billed paid before it expires. Or you can pay League Athletics
directly with a check, if you have enough time.
Yearbook--You’ll get checks at the end of the school year, in one bunch, for any extra
books purchased and sold. (The main purchase is done online with the Vendor
Company.) Provide the Yearbook Chair(s) with the Yearbook Deposits.doc form
with explanation for completion. Every check needs to be written out on the deposit
slip, alphabetization optional. Send a final report to the Chair(s), it should match
their numbers. The Chair will then give you the vendor bill, which should match
your records, taking into consideration any deposits made in the prior fiscal year.
A deposit to the vendor, along with the signed contract for the next
school year, is always made either at the end of the school year or
over the summer.
Checks/Cash:
1. Has a specific Deposit Form
2. Write “Yearbook” at the top of each check, for designation
3. If we are taking payment instead of the vendor, then make sure that the
Yearbook Chairs write the names of the students and teacher on the check
memo line. This is EXTREMELY helpful should a check bounce. This way,
they can hold the yearbook until the outstanding debt is satisfied
4. In the Quickbooks memo field:
# of books sold at $x.xx
# of Extra books sold at $x.xx
Operating Account
List of Accounts
INCOME
ACCOUNTS:
MEMBERSHIP INCOME
-Membership Dues
(membership dues collected from families)
-Membership Dues : Directory Sales
(directories sold to families who want extra directories)
-Membership Dues : Donations
(direct donations to the school)
OTHER INCOME
-Family Fun Income
(money collected for Family Fun Events, Box Tops, Stop & Shop, Target
programs)
-Interest Income
(interest earned from bank account)
-Holding Account
(Hold Philanthropy funds until it can be transferred)
-Jr Great Books Income
(money collected from Jr. Great Books)
-Misc. Board Income
(money collected for the end of year installation board luncheon for new/old
officers)
-Misc. Income
(other income received, no budget line item)
-Panoramic
(money collected for 5th grade class panoramic photo)
-Yearbook Income : General Income
(money collected for books from pre-order sales)
-Yearbook Income : Other
(money collected for books sold after initial order)
EXPENSE
ACCOUNTS:
BOARD
-Accountant and other fees
(accountant fees and those related, Sec of State Annual Filing Fee, and any
banking charges like stop payments, deposit slips ordered, checks ordered)
-Art and Display
(bulletin board expenses)
-CMT Goody Bags
(expenses related to student treats during testing)
-Community Service
(expenses related to items that are purchased to help out a school family or
community member, including shipping bins for Evergreen project)
-Family Fun
(expenses related to Family Fun events)
-Field Day Expense
(expenses related to all 3 Field Days: Pretzels, Oranges, Cups, Ice Pops, and
Inflatable Slides)
-Fifth Grade Slide Show Expense
(expenses related to burning CDs for the 5th Grade end of the year slide show)
-Fifth Grade T-Shirt Expense
(expenses related to payment of 5th Grade T-Shirts)
-Gifts and Acknowledgements
(items purchased that are given in appreciation of service, faculty/staff retirement
gifts, outgoing board gifts, sympathy, etc.)
-Grade Coordinator/Chairs
(refreshments served at new room parent orientation and materials given to new
room parents. The supplies include folders, envelopes, etc.)
-Hospitality
(refreshments served at the New Parent Orientation in August, refreshments
served at PTO meetings)
-Insurance
(expenses related to Insurance payment)
-Jr Great Books
(expenses related to Jr. Great Books)
-Lost & Found
(expenses related to Lost & Found)
-Membership/Credit Card Fees
(credit card fees for online payments)
-Misc. Bd. Luncheon
(expenses related to end of year installation board luncheon for new/old officers)
-Misc. Expenses
(other expenses, no budget line item)
-Panoramic
(payment for 5th grade class panoramic photo)
-President
(expenses related to the PTO President: folders for new slate of officers,
president’s binder, etc.)
-Programs
(expenses related to PTO speakers)
-Teacher Supplies
(expenses related to misc expenses for the faculty/staff lounge)
-Treasurer
(stamps, mailings, envelopes, check/deposit/bank stamp ordering for bank
accounts, storage boxes, recording keeping binders, receipt books, IRS tax
mailings, etc.)
-Vice President
(expenses related to the PTO Vice President)
PUBLICITY & PRINTING
-Directory
(printing the PTO membership directory for school families)
-Publicity
(ads in High School and Middle School’s school presentations)
-Website Expenses
(renewal of WIS-PTO.org & the Weston PTO's website accounts, along with the
League Athletics website usage fees)
-Yearbook Expense : General Expenses
(expenses related to payment of the books ordered)
-Yearbook Expense : Other Expenses
(expenses related to publicizing pre-order sales, Yearbook Chair expenses,
marketing material, raffle prizes, etc.)
STAFF EXPENSES
-Staff Appreciation
(expenses related to this event, which happens in May)
-Staff Luncheon
(expenses related to this event, which happens in August)
-Yearbooks for Staff
(yearbooks to teachers, staff, faculty, etc.--AT COST)
PHILANTHROPY ACCOUNT -- ITEMS
Book Fair-- This is a time commitment.
In the beginning, you’ll need to provide the Book Fair Chairs with the Cash Box
Request.doc form, unless they want to go with your recommendations.
Meet with the Chairs prior to the Book Fair and make sure that they understand their
budget and are comfortable with running the cash machines. Make sure they train the
volunteers about the importance of “NOT SWAPPING” unequal money between the
drawers!! They also need to be accountable for voids.
Make sure you get the Cash Box Request.doc form prior to event (on a day the banks
are open) to be able to provide the Chairs with adequate Cash for the Book Fair
registers.
Start-up Cash Recommendation (ask that they only open one roll of each
denomination of coin first and split among the cash drawers--as every coin has
to be counted at the end of each day):
10-$10s
30-$5s
100-$1s
2 rolls of quarters
2 rolls of dimes
3 rolls of nickels
6 rolls of pennies
=
=
=
=
=
=
=
$100.00
$150.00
$100.00
$ 20.00
$ 10.00
$ 6.00
$ 3.00
$389.00
The Book Fair Chairs will open each day, but you’ll need to close the registers each
day. The Book Fair Chairs will need to count the start up funds at each opening (this
amount should be the same from the night before and should equal the start-up money
requested) and keep track of what funds they put into each of the registers.
Each night you count the money with the chairs and record all
transactions from the register tapes onto the Book Fair
Reconciliation.xls form. This should reconcile each night. Then
transfer this information to the 201x-201x Book Fair Report to
Chairs.xls.
Remove all cash and checks over and above the Cash Box Start-up amount and have
the Book Fair Chairs initial removal. Record this amount on the Book Fair
Deposits.doc form on the correct Event line. (Deposit the money during the next
banking business day.)
FYI--Most people pay with credit cards. This amount goes directly to the vendor.
Just make sure to print the credit card machine report at the end of each day.
Teachers get 10% off. So make sure that these are tracked so you can pay the vendor
properly. Every check needs to be written out on the deposit form, alphabetization
optional. Send a final report to the Chairs, it should match their numbers. The Chair
will then give you the vendor bill, which should match your records.
Checks/Cash:
1. Has a specific Deposit Form
2. STAMP “BOOKFAIR” at the top of each check, for designation
3. In the Quickbooks memo field:
List the line item (Saturday Sales, Friday Donuts with Dad Sales,
Wednesday Family Night Sales, Start-up Cash, etc.)
For Gift Certificates, just type Gift Certificates
4. Wal-Mart check is listed as a donation. Mail donation letter
Donations--From time to time, the PTO will receive a monetary donation that gets
deposited into the Philanthropy Account. If the donation is designated for a specific
department or item, make sure that you list this allocated item under the “Approved to
be Paid” section of your Philanthropy report so you don’t spend this money on
regular Philanthropy items. Use the Misc Deposits.doc form and circle Philanthropy,
for designation.
Checks/Cash:
1. Use the Misc Deposit Form
2. Write “Donation” at the top of each check, for designation
3. In the Quickbooks memo field: Business Name or if person Last Name, First
Name and list the word “Anonymous” at the end if it is so
Gift Wrap--You’ll get checks at the end in one bunch (a few stragglers come after).
Provide the Gift Wrap Chair(s) with the Gift Wrap Deposits.doc form with
explanation for completion. Also provide them with the Processed Gift Wrap
Teacher.xls form for their reconciliation. Every check needs to be written out on the
deposit slip, alphabetization optional. Send a final report to the Chairs, it should
match their numbers. The Chair will then give you the vendor bill, which should
match your records.
The Gift Wrap payment to Innisbrook triggers the internet check.
In other words, the sooner you pay the bill to Innisbrook the
sooner they will mail us the profit check for the internet orders.
The internet check usually arrives in January.
Checks/Cash:
1. Has a specific Deposit Form
2. STAMP “GIFT WRAP” at the top of each check, for designation
3. Make sure that the Gift Wrap Chairs write the names of the students and
teacher on the check memo line. This is EXTREMELY helpful should a check
bounce. This way, they can hold the product until the outstanding debt is satisfied
4. In the Quickbooks memo field:
Catalog Orders: Grade
Internet Orders: nothing is listed
Interest Income--No form necessary. In the Quickbooks memo field: Month interestrate% and # days.
Other Fundraisers--Contact the person in charge. Provide them with the Misc.
Deposits.doc form with explanation for completion. Circle Philanthropy, for
designation. Every check needs to be written out on the deposit slip, alphabetization
optional. Send a final report to them, it should match their numbers. If payment is
required, they will then give you the vendor bill, which should match your records.
Checks/Cash:
1. Use the Misc Deposit Form
2. Write “Fundraiser or Event Name” at the top of each check, for designation
3. In the Quickbooks memo field:
Specific Campaign: Name or if person Last Name, First Name
General/One-Time Fundraiser: Name of Event
Philanthropy Paid--This is the account where payments are made for items that have
been approved by the Philanthropy Committee, the Executive Board, as well as the
General Membership.
Principal’s Development Fund--You will get requests from the Principal’s Secretary to
use the funds allocated in the Principal’s Development Fund at various times
throughout the year. (We do pay for hotel expenses incurred when a teacher attends a
conference.) It is your job to keep track and tell him/her when they have reached the
limit. Give the Principal or his/her Secretary a monthly update and encourage them
to use up the funds. Set up a process that works for you. Payments can either be
given to the Principal’s Secretary or you can mail them directly to the vendor with
their invoice/bill/order form.
Principal’s Discretionary Fund--The Principal gets a $500 check, made out to the
school. These funds are used to pay for various items: field trip $ for hardships,
teacher gifts, memory books for hardships, MDF T-shirts, and other things everyone
else gets to do – for kids in need. Remind the Principal that they can ask for more
money at any time. (The Executive Committee can approve up to $250 for anything.)
Talent on Tap--Contact the Talent on Tap person and set a process with them. They will
secure the talent and coordinate payment to them. Generally they will need a deposit
ahead of time and final payment on the day of the performance. Insure they
understand you need notice to get them the check. Occasionally, send them updates
as to the status (actual v.s. budget).
Teacher Discretionary Fund--Get a list of staff names from the Principal’s Secretary
two weeks prior to the August Staff Luncheon and make sure that the Philanthropy
Chair also has this list. Refer to previous year’s expenses and work with the
Philanthropy Chair on check disbursements. New teachers typically get an additional
$50. WIS shared personnel get 1/2 and part-time staff get 1/4. It is the responsibility
of the Philanthropy Chair to get accurate staff names closer to the Luncheon and to
get approval from the Principal on amounts and payee names.
Cut each check and place it in a pre-printed envelope (Teacher Check Envelope.doc
that is merged with the Teacher Check Envelope List.doc located in the forms folder).
Update and print the PTOnote-Goes with Teacher Checks.doc with the current
President and Philanthropy Chair’s names. Place this note inside the envelope in
front of each check.
The Philanthropy Chair traditionally gives out the checks at the August Staff Lunch,
which is prior to the start of school. (However, you can ask her to give you your
kid(s)’ teachers for you to hand them to them. Sometimes the board members, who
help during the luncheon, will give out the ones they know.)
Telegrams (Staff Appreciation Day)--Students send their teachers telegrams
(appreciation notes) on Staff Appreciation Day for a nominal fee. These fees are
collected and held in RESERVES (restricted funds) to be used at a later date, when
the teachers request the funds to pay for something that they need for the faculty/staff
lounge.
WEF (Weston Education Foundation) Donation--Each September the PTO donates
$500 to the WEF. Coordinate with the Philanthropy Chair to get it approved through
the proper channels, by the Philanthropy Committee, the Executive Board, and finally
the General Membership. This is paid out of the "PHILANTHROPY PAID"
ACCOUNT.
Philanthropy Account
List of Accounts
PHILANTHROPY
OTHER:
-Donations
(direct donations to the school for Philanthropy funded items and/or designated
allocations toward a specific department and/or program)
-Interest Income
(interest earned from bank account)
-Memorial Day Fair Income
(50% profit earned from Memorial Day Fair)
PHILANTHROPY
GENERAL
EXPENSES:
-Misc. Expenses
(any banking charges like stop payments, deposit slips ordered, checks ordered)
-Philanthropy Paid
(listing of all paid “Philanthropy Approved” requests)
-Principal’s Development Fund
(reimbursements to the principal based on educational training of staff, faculty,
etc., hotel accommodations during conference)
-Principal’s Discretionary Fund
(check written to the principal at the beginning of the year to supply the principal
with petty cash for hardships, families in need, misc. expenses, etc.)
-Talent on Tap
(expenses related to school-wide programs for the children)
-Teacher Discretionary Fund
(checks written to the teachers for classroom supplies, given at back to school
luncheon prior to school opening)
PHILANTHROPY
FUNDRAISING
ACTIVITY:
BOOK FAIR INCOME:
-Book Fair : Donations
(usually Wal-Mart donation)
-Book Fair : General Income
(money collected from book fair, cash, checks, gift certificates, broken out by
day’s activity/event, ex. Wednesday Family night, Friday sales, etc.)
BOOK FAIR EXPENSE:
-Book Fair : Chair Expense
(chair expenses related to running the fundraiser--food for evening event, prizes
for art show, crown decorating, prizes for decorating, publicity supplies, etc.)
-Book Fair : General Expense
(expenses related to the payment of books, less our %)
-Book Fair : Start Up Funds
(start-up money comes out of this account)
GIFT WRAP INCOME:
-Gift Wrap : Donations
(small overages from orders and direct donations to the fundraiser)
-Gift Wrap : General Income
(money collected from brochure sales at beginning of school year)
-Gift Wrap : Internet Income
(money collected from internet sales during school year and year round)
GIFT WRAP EXPENSE:
-Gift Wrap : Chair Expense
(expenses related to running the fundraiser--folders, envelopes, etc.)
-Gift Wrap : General Expense
(expenses related to the payment of gift wrap products, less our %)
OTHER FUNDRAISER INCOME:
-Other Fundraisers : Telegrams
(money received from the collection of Telegram money)
OTHER FUNDRAISER EXPENSE:
-Other Fundraisers : Telegrams
(expenses related to the purchases of faculty/staff lounge items requested by the
teachers/staff)
TIMELINE
August
 The Principal gets a $500 check, made payable to the school
 Teacher Discretionary Checks are disbursed during August Staff Luncheon. Give
checks to Philanthropy Chair
 Prepare Budget Letters/Emails
 Operating Account Deposit--Membership Check
 Present Budget at Executive Meeting
September
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
 Present Budget at General Meeting
 Distribute Budget Letters/Emails
 Annual donation of $500 to the WEF, after approved by Philanthropy
 Operating Account Deposit--Membership Check
October
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
 Taxes--prepare files for Tax Accountant
 Operating Account Deposit--Membership Check
 Philanthropy Account Deposit--Gift Wrap Checks
November
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
 Book Fair--startup cash box & close book fair every night
 Philanthropy Account Deposit--Book Fair Checks/Cash
 Insurance payment due by mid-November
December
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
 Operating Account Deposit--Jr. Great Book Checks/Cash
 Taxes--mail Taxes by Dec. 15th deadline
January
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
 Operating Account Deposit--Box Top Money
 Philanthropy Account Deposit--Gift Wrap Internet Check
February
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
 Website payment due by February 7th
March
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
April
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
May
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General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
MDF Weekend--in early May, coordinate executive shifts
Operating Account Deposit--Box Top Money
Operating Account Deposit--Panoramic Checks
June
 General & Executive Meetings--Prepare Operating & Philanthropy Treasurer
Reports
 Misc Board Luncheon--Bring blank check to Venue for payment, if needed
 Yearbook Contract Deposit due
 Budget Committee meeting prior to the end of school (or in Early August)
 Operating Account Deposit--Misc. Board Luncheon Checks
July
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Treasurer Transition--prepare files, reports, etc. for new Treasurer
Audit--prepare files for audit
Close out books, credit/void any outstanding checks that haven’t been deposited
Connecticut Secretary of State payment--annual filing fee for incorporation in
the state of Connecticut
Operating Account Deposit--MDF Proceeds Check