The Reimbursement Request form is available for download from the Bonus Tools...but there's also a comparable Check Request and Deposit Notice form that arent' there (Tim??). They are available, however, in the cd that comes with the Treasurer's Toolkit Resource Binder -which at $40 is a bargain if you're a newbie treasurer looking for help.
Yes, we require 2 signatures on every check. Our Prez, VP, and Trez are authorized. If one of those are requesting reimbursement, the check must be signed by the other two. This is a very good financial control that should be implemented by EVERY PTO. And don't take the easy way out and "pre-sign" a few checks. That completely eliminates the control.
Well said! Each time I write a check, a "Check Request Form" (warrant) is completed with details about who the check is written to, what it's for, date needed, etc. Each form is also signed by the pres. & secretary. I think I downloaded the forms from this website a year or so. I don't think they are available online any longer.
Receipts and invoices are attached to the check request form, and filed according to category (event).
I'm currently looking for a place at the school to store the file cabinet so any board member or committee chairperson can access the files. It would be great to include any flyers for the event as well, and also names & numbers for contacts!
BTW, do the rest of your groups require two signatures on each check? We have 3 authorized check signers in our group: the pres., VP and Treasurer.
The level of detail you capture depends on (a) your financial reporting system and (b) your treasurer's fastidiousness. First, your system needs to be able to handle detailed descriptions or detailed line item breakdowns for each financial transaction. Computer systems like PTOManager or Quicken support that, as would a manual system...IF your treasurer is fastidious about recording the details.
It's easy to accurately post a check to Vendor XYZ for $100 to the carnival account. It takes a bit more care and time to also record the breakdown of that check. The detailed information is EXTREMELY valuable for future planning, but not everyone might realize that. People think they'll remember, or the chairpeople keep paperwork in their folder they think will provide the next chair all she needs. Or worse yet, the chairs don't realize how much easier their job would have been if they had access to LAST year's details. Often, project files get misplaced, or are incomplete anyway. The best place to save and protect details about your financial transactions is in the treasurer's system. But your treasurer needs to appreciate the value, too, and do her job to capture the detail.
Oh how I am rambling! To Pam...your president probably doesn't have any idea how the $700 broke down, unless she has easy access to the financial records from last year. Rather than approaching her again, try the treasurer. Even if the trez is new this year, she should have files from last year. Ideally, she can print out a report that shows the details for the event. If not, hopefully she can give you the paper files (receipts, checks) and you can do the research. Worse case, there are no records and you are on your own--to create a good set of records for the next chairperson!
I am a little off here but our event reports are detailed to a "T" what I have found is that it is much easier to look at a report a year later and be able to explain for example why "games" was so high. If you have it broken down by game pieces, game prizes, game making supplies, etc you could see why it was high, maybe you built a new game that you would not be doing the current year. Another example is food, maybe one year you did three snacks that required alot of different things, we would list trail mix(what was bought how much of each), frosted cupcake (how many, etc). we also note how much was left of each, that way we can adjust buying if we need to. It may be a little more but in the long run it does help. At the first meeting after the event everyone gets a copy of this. It was funny one year I did a year in review and I highlighted how much juice we went through, how many cups...it was funny!
"When you stop learning you stop growing."
I'm the treasurer for our PTO. My budget reports reflect the total amount spent in each category (let's say $700 for the Harvest Fair). I wouldn't create a report that "broke down" the expenses in each category because it would make the report quite grueling with many pages. However, if you came to me wanting a break down of a certain event or expenditure, I would be happy to create a detailed report for you showing every check written and deposit made for the event or item in question.
A note to all Treasurers out there: when someone needs extra details concerning the group's finances, it is your duty to provide the information within a reasonable amount of time. PTO's and PTA's are non-profits and the group's books are to be available for public inspection (check your states corporations codes (laws) for non-profit corporations regarding this matter).
BTW Pam, a good way to learn about your group's finances is to form an audit committee. If your group has insurance through AIM (the company that gives a discount to PTO Today members), one of the conditions of coverage is to have a yearly audit of the books by a committee or a professional auditor. We opt for the committee! It doesn't cost anything. Authorized check signers are not allowed to be on the audit committee. You should have a committee of 3-5 people going over the books, checking receipts, etc. at least once a year. We do two--one in the beginning, one at the end of the year.
