Co-Treasurers Responsibilities

Proposed at the May 1, 2014 general PTO meeting, with a final vote to approve at the May 29 PTO meeting. Nominations are being accepted for the Assistant Treasurer role. See this post for more details.

We are proposing the addition of a second treasurer position to ease the transition between terms and to distribute the workload of responsibilities between two board members.  A first term treasurer would be responsible for all accounts receivable and then at the start of the second term would transition to the Lead Treasurer role.

Lead Treasurer – Accounts Payable:

  • Keeps an accurate record of all expenses and revenues including receipts and signed reimbursement forms
  • Balances all bank accounts using Excel or other software
  • Disburses funds approved from the annual budget, from general meetings or from approval by the PTO board
  • Disburses cash box and funds to fundraising chair and provides reconciliation documentation needed by the Accounts Receivable Treasurer
  • Presents a statement of accounts at every meeting of the PTO Board
  • Prepares the PTO budget for approval at the Fall meeting
  • Provides information for the external audit
  • Prepares annual tax return information to be submitted to the board approved accountant
  • Prepares the annual 1099 for each teacher or individual contractor paid over $600.00
  • Supports the Assistant Treasurer as needed

Assistant Treasurer – Accounts Receivable:

  • Responsible for collecting and reconciling all payments made to Eagle Extras, World Language Program, and all other fundraising/payment activities
  • Responsible for collecting, processing, and reconciling receipts of cash/checks/ etc for deposit to the bank
  • Responsible for communicating to fundraising chair about procedures for collecting funds and submitting reconciliation documentation
  • Submit all deposits receipts with detail to the Lead Treasurer weekly
  • Prepares monthly deposit record for the Lead Treasurer in anticipation of  the monthly report
  • Supports the Lead Treasurer as needed with the exception of check writing and disbursing funds

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s