Timeline for PTA Treasurer’s Duties

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NOTE:

• All local PTAs in Howard County are considered federally tax-exempt 501(c)(3) under the IRS code Maryland PTA issues all charters to local PTAs, it thus holds the “blanket tax-exempt form” (authority) for all local PTAs
• Contributions to the PTA are tax deductible
• PTAs must be charged sales tax when purchasing items
• PTAs must charge sales tax when reselling item

July - August

• The PTA Audit is required of every PTA and must be done during the summer.
• Update bank signature cards with new officers and date of election (minutes and signature of outgoing officers needed for bank officials) and file with the bank.
• Corporate resolution cards may also be due in order to complete the changing of signers.
• The address on the bank account must be the school's address. Bank statements must be mailed to the school's address. The President or designee besides the treasurer should review the monthly bank statement.
• Set up ledger or computer program and receipt and disbursement forms for current year.
• Membership cards are sent automatically from MD PTA. Order Membership Envelopes directly from MDPTA. Another suggestion, have pre-addressed envelopes attached to the membership form for ease of parents mailing them directly to the school.
• Budget - The treasurer serves on the budget committee to prepare the new budget in conjunction with written goals established by the executive board for the fiscal year beginning July 1 – June 30.
• Review when renewal of Charitable Organization registration with the state of Maryland is due. For more information: www.sos.state.md.us/sos/charity/html.instru.html

August

• Budget committee should be finalizing the budget to present to the exec board.
• Present the previous year’s Audit Financial Review and Fiscal Year Report to the executive board
• Membership Drive begins.

September

• Present the previous year’s Financial Review (audit) and Fiscal Year Report to the general membership for approval.
• Present new Budget for approval by the general membership.
• Send a copy of the PTAs audit report to the PTA Council office via email ptachc@gmail.com, fax (410-740-1207) or the interschool pony.
• Begin preparing IRS Form 990 if gross receipts are $25,000 or more last fiscal year.
• Bonding insurance premium notice will be sent via email to Presidents and Treasurer’s.

October

• Send Maryland and National Membership Dues ($3.25 per member) directly to Maryland PTA 5 Central Ave. Glen Burnie, MD 21061.  Pay invoice for only those membership’s sold. 
• Prepare IRS Form 990 or 990 EZ (due Nov 15)

November

• PTA Council dues($190) are due to PTACHC Office by November 1st
• Contributions to the PTACHC Scholarship Fund (if provided for in budget)
• IRS Form 990 is due by November 15th - All PTAs must now file a 990
• Send membership dues received since October to MD PTA

December

• Look for Sales and Use Tax forms, if applicable
• Send membership dues received since November to MD PTA

January

• Retail Sales and Use Taxes due to the State for July-December.
• IRS Form 1099 (misc. Income) is due by January 31^stdistributed to any person earning $600 or more through PTA sponsored programs for preceding calendar year.

February

• IRS Form 1096 is due by February 28^th, (Annual Summary and Transmittal Form for those PTAs that must fill out IRS Form 1099(s)

March

• Final membership report is due to Maryland PTA by March 15. 
• Return all unused membership cards with the final membership report to MD PTA.

April

• Personal Property Return is REQUIRED for every PTA to the Maryland State Department of Assessments by April 15^th  Website to download form if you did not receive the form in the mail is: http://www.dat.state.md.us/sdatweb/personal.html

May

• Begin procedure to select Financial Review/audit committee to be appointed by the executive Board
• Announce or send reminder notices to anyone with allocated funds still to spend, e.g., committee chairs needing reimbursement, or teachers with Student Enrichment Fund money still to spend, etc.
• Collect Budget Projection Forms from officers and committee chairs. These will be useful to help guide the budget committee in preparing the budget for the next fiscal year
• A copy should be provided to any newly appointed committee chairs to assure they agree with the projected amounts for the next year.

June

• Present a motion at the last executive board meeting authorizing expenditures to be paid over the summer - until such time as the budget is approved by the general membership in the fall
• Pay all outstanding bills by June 30^th
• Look for Sales Tax Form, if applicable
• Close financial books June 30 and give to who will be reviewing/auditing your books. This is required of all PTAs to be completed over the summer in time for your first general meeting.

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