Community Advice

mum24kids writes:
1) Read your bylaws. Once now, and once in about another month or two after you have more of an idea what is going on.
2) Get some software that creates your financials for you (your group should pay for it); you don't have to be an accountant to keep the books (I have a favorite that I'll recommend if you message me), you pretty much just need to know how to reconcile a checking account.
3) Read over last year's audit report and go through last year's transactions to get an understanding for how money has been raised/spent in the past.
4) Figure out what tax return needs or needed to be filed for last year's records and make sure it is taken care of. If your year ended June 30, you probably have until November 15 to file.
5) Check out the Finance section of the File Exchange on this website for forms/procedures/etc. if your group seems to be lacking in that area; no need to re-create the wheel.

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Community Advice

gjcoram writes:
6) Spend some time reading posts on this site.
7) Find a PTO treasurer from another school in your district and have coffee or something to discuss the job.
I'm not an accountant myself, but I can use a spreadsheet and write checks. Some PTOs in my district pay a CPA to file the tax returns, you could see if your board would approve that, at least the first year as you get up to speed.

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Community Advice

mnowak8202 writes:
Well you will need to file taxes for 1. I was new last year and was never really given that information. Hopefully you have a bank account. You should be the ONLY one that writes checks from the account or uses the debit card. It helps eliminate extra hands in the pot so to speak.

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