We have many of the same controls described above plus the following --
We have 4 different forms we used to manage cash/checks:
1. Request for Reimbursement - requestor needs to explain why they need a reimb., attach the receipt, and identify the program/project account the $ should come from
2. Deposit Notice - Used whenever money is collected. Collector must count the money, list the denominations, and signoff
3. Check Request - Used if a check is needed in advance (ex: for an assembly) or to pay a bill (ex: buses for a fieldtrip).
4. Cash Box Request - Used if an event needs a cash box prepared. The event chair submits the request to the Treasurer.
As treasurer, I log all the transactions into Quicken and each month make sure my checkbook, Quicken, and the monthly treasurer's report that I do in excel, balance.
Listed below is a one-page hand-out I created for our volunteers. I'm still tweaking it, but it may be of use to you.
Note, like most PTO's (I think) we have a ticket table at most events, so cash is only handled at one central place. People pay for cokes, pictures, bingo tickets - whatever - with the tickets they purchased.
Handling of PTO Funds Received
Rules & Policies
* The Chairperson of each PTO event shall work with the Treasurer and other officers to plan for the handling of all funds in an approved manner.
* Chairpersons/Project Coordinators must make sure any volunteers dealing with funds understand the process.
* All PTO funds must be counted with 2 people present, each initialing the “Summary of Funds Received†form.
1. Complete the form and itemize the fund sources (membership, T-Shirt sales, event sales, etc.) as well as cash vs. checks.
2. Copy the completed form and give to school secretary to file.
3. Seal the funds and the original form in an envelope.
* The Treasurer will make all deposits unless specifically planned otherwise.
* Funds should be deposited same day acquired. If not possible, funds will be secured at the school in the designated locked area.
* Cash must be deposited on day received or, at most, one business day later.
* Checks must be deposited within 5 business days.
* It is not necessary to record all checks on the bank deposit slip – a spreadsheet can be attached instead.
At events, we always have two board officers count the money, usually the treasurer and one other. On the stuff that trickles in from the classes, we are still trying to establish procedures. We rotate and have one officer responsible for stopping by the school each day to sort PTO mail, check messages, and deal with any incoming funds.
Listed below is the Treasurer excerpt from our By-Laws:
Section 5 - The Treasurer shall:
1. Be responsible for and have custody of all funds of this PTO.
2. Be present at all PTO events where money will be collected.
3. Count all money with two people present, and deposit all cash in the bank on the same day received or no later than the following business day and all checks within 5 business days. If unable to be deposited on the day received, the money must be held at the school in the designated locked area.
4. Collect and keep a full accurate account of receipts and expenditures of all money of this PTO.
5. Develop with the Executive Board an annual budget to be distributed to and approved by the membership of this PTO at the first general membership meeting of the school year.
6. Co-sign all checks and release no check without two signatures.
7. Make disbursements as authorized by the President, Executive Board, or this PTO in accordance with the budget adopted by this PTO.
8. Administer the funds of the organization under the direction of the Executive Board.
9. Make financial reports at all organization meetings and at other times requested by the Executive Board.
10. Prepare the books for the annual audit in May and at the end of every semester during the school year. A full written financial report will be submitted to the incoming Executive Board by the close of the school year.
11. Submit the books annually, or upon change of officer, for an audit by an auditor or an auditing committee.
