Treasurer

Lisa Anderson

E-mail: lisa@utahpta.org
Phone: 801-261-3100 x 113

Welcome to the Utah PTA Treasurer's page. Here you will find information and resources to aid in your position as Treasurer and manage your PTA's money.

** Read National PTA's Current Money Matters Article from Our Children Magazine linked below:

Can our PTA have a savings account and how much can we have in it?

Many financial institutions require a minimum amount in a savings account to hold a checking account at their institution.  This is perfectly acceptable.  The amount and any interest should be shown as part of the budget on a separate line.

Any amount is acceptable to have in the account and if a PTA would like to build up their reserve, in case of a bad fundraising year, the reserve can be put into a savings account and used the next year.

There is no need for a PTA to have more than one fiscal year’s budget in their reserve and if that is starting to occur, fundraising efforts should be scaled back.  There is no reason to continue to raise money just to raise money.  PTAs raise funds to exist; PTAs do not exist to raise funds.

The other risk in having so much money is that your school will start to request more and more money from the PTA.  PTA funds are to be primarily used for PTA programs.  There are opportunities, however, for a PTA to grant money to a school, but again, this is not the main purpose for the PTA.  If you have enough money in your accounts to run your PTA programs, then don’t try to continue to raise money.

PTAs CAN use their wonderful volunteer efforts to help raise money for the school’s needs, but other than providing our amazing and powerful manpower efforts, the money should not ever be “run through” the PTA accounts.

Please see the Utah PTA Treasurer Handbook for more details.

Can our PTA do a Raffle?

The definition of a raffle is: a lottery in which each participant buys a chance or chances to win a prize.  Chances are considered gambling in the state of Utah so the answer is No, your PTA can not hold a raffle.

PTAs can hold drawings for prizes.  One example includes when a parent purchases a PTA membership, their name goes into a drawing.  This means that they have purchased the rights to be a member and get discounts from PTA partners and such.   Another example would be if there is a purchase involved and they receive something for that purchase, such as xx.xx amount in carnival tickets purchased; their name goes into a drawing.

PTAs need to stay as far away from the gray area as possible.  We do not want a PTA to lose their tax-exempt status nor good standing with the Division of Consumer Protection for the state of Utah by holding a “raffle”.  

If you have had a lot of items donated for a carnival or other event, consider doing a silent auction.  This also brings in a good deal of money for PTAs that have participated in them.

Please see the Utah PTA Treasurer Handbook for more details.

An Annual Financial Reconciliation (AFR) of the PTA’s books is required by the bylaws (Article VII, Section 6). The AFR is to be performed either by an AFR committee of at least three members of the PTA or by an auditor. An AFR committee would perform an “internal annual financial reconciliation,” following Utah PTA’s recommended AFRt procedure checklist. An outside auditor is not required to perform an audit in accordance with generally accepted auditing standards. “Agreed-upon procedures” (based on the recommended internal audit procedure) are sufficient to fulfill the requirement. An auditor who is a member of the PTA could perform an “internal AFR” such as would be performed by an AFR committee.

Use the documents below to learn more information on the AFR requirement:

All PTAs in Utah are required to make an annual filing with the IRS. The determination of which form is required is based on the Gross Receipts Test (see details below).

For fiscal year 2010-2011, if a PTA normally has gross receipts of more than $50,000, it is required to file Form 990EZ and the applicable schedules.

All PTAs not required to file Form 990EZ are required to file Form 990N, also known as the e-Postcard. Both Form 990EZ and Form 990N are due to the IRS by November 15, following the close of the fiscal year. Utah PTA requests that Form 990EZ be submitted to its office by October 15 for review. (It should not be filed directly with the IRS!) Utah PTA recommends that Form 990N be filed electronically by September 1.

IRS Forms and Websites:

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  IRS Web Site - http://www.irs.gov


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  Form 990EZ - http://www.irs.gov/pub/irs-pdf/f990ez.pdf


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  Schedule A - http://www.irs.gov/pub/irs-pdf/f990sa.pdf


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  Schedule C - http://www.irs.gov/pub/irs-pdf/f990sc.pdf


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  Schedule G - http://www.irs.gov/pub/irs-pdf/f990sg.pdf


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  Schedule O - http://www.irs.gov/pub/irs-pdf/f990so.pdf


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  Form 990N Filing Site - http://epostcard.form990.org

Use the documents and forms below to get more information on IRS filings.

The budget is your financial road map for the year. The budgeting process should be taken seriously. However, it does not need to be complicated.

Information about the budgeting process can be found in the "Budgeting Process" document (below). See "Sample Budget" for the proposed budget of Example Elementary PTA; this is the budget to be presented at Back-to-School Night to the general membership for their approval. "Sample Budget Detail" is a more detailed version for the use of the Executive Committee as they oversee the programs and activities for the year; having a more general budget approved by the membership will allow the Committee some flexibility as the year progresses.

The sample forms available for download below are "tools" and can be altered to meet the needs of the PTA unit. The specific format of this type of form doesn't matter as much as the fact that some type of form is being used. Those PTAs using a computer program for record-keeping should utilize the capabilities of the program being used, especially for preparing reports.

PTAs can purchase insurance from any insurance company they choose. Utah PTA Sponsor AIM (Association Insurance Management), which specializes in PTAs, can be contacted at 800-876-4044 or aim@aim-companies.com, or visit their website: http://www.aim-companies.com.

Please see the documents below for information on insurance needs:

There are various forms that treasurers must submit to the Utah PTA, Councils, and Regions throughout the year. Follow the Timeline for Treasurers (available below) to help you in your duties.

IMPORTANT NOTE: The forms available below, which are also found in the 2011-2012 Utah PTA Handbook, are the most up-to-date forms available. Please discard all previous versions.

In your fundraising efforts, you may be requested by a company to have proof of your tax-exempt status.

The IRS issues a “determination letter” to organizations that have qualified for tax-exempt status. Because Utah PTA, as a central organization, determines which units are included as subordinates under its group exemption ruling, anyone seeking to verify that a PTA in Utah is tax-exempt can contact the Utah PTA treasurer.

Utah PTA can provide a letter about the group ruling and a copy of its determination letter from the IRS for potential donors, sponsors, or grantors. According to IRS Publication 4573, “donors may rely upon central organization verification with respect to deductibility of contributions to subordinates covered in a section 501(c)(3) group exemption ruling.”

Utah PTA will issue your PTA this letter if your unit is in good standing. This includes having paid membership dues this current fiscal year, have completed the required 990 tax filing and have current bylaws.

If you need a letter, send an email to lisa@utahpta.org to request a letter and copy of supporting documentation. Make sure you include the name of your PTA, city you are located in and the name and address to whom the letter and documentation should be sent.

Keep a copy of the letter and supporting documentation until the end of the current fiscal year. It will be valid during the entire fiscal year.