Thanks for all of your imput! I do submit a monthly report of all financial activity, and critters forms have helped me to organize our records this year. I have gotten alot of great feedback from PTO members in respect to the forms that I started using this year. Some people were not happy with all of the changes, especially with a new treasurer taking office, but I think that they can see a much better paper trail of funds. I am happy to do a yearly audit with a professional CPA. I guess I will summarize the years' activity on one report for the last meeting, so our members can see what every committee did, and how the PTO budget performed overall. Thanks again, Brijod1
One note I'd make: The fact that your treasurer makes a monthly accounting/report to your meeting is *not* a substitute for some type of check, either twice per year or once per year. That monthly report is the treasurer reporting on the treasurer's work (not a "check" of any sort).
I've had quite a few reporters asking questions on these issues lately (mainly due to so many negative stories making the news), and the key thing is to have good policies that make the *opportunity* for misdeeds much lower and less appealing.
In every case we've seen, the quote from the victimized officers has been: "We couldn't believe it. We were in shock. She/he was a good friend." Often that friendship element keeps officers from putting in good policies. That's a mistake.
If the treasurer (and 9 times out of 10 it's the treasurer that commits the crime, when one is committed) knows that the books will be checked by outsiders, the treasurer will be far less likely to steal. Situation (financial pressures on treasurer's family, etc.) combined with opportunity allow this to happen. Good policies significantly reduce the opportunity.
Sorry, that wasn't "one note," but....
Tim
<HelpfulHintsMom>
Visitor
21 years 8 months ago#97582by <HelpfulHintsMom>
Check with your school districts accounting dept. they usually have a form that each auxiliary of the school has to turn in. The district supplies the forms. It must be done by the end of May. Usually all transactions have stopped by the middle of May so the audit committee can have all the documents that they need. What do you need to get together for the audit. Critters forms were great in this aspect that things ran smoothly. All bank statements in order; all NSF's cleared. All check requests forms have the approriate signatures, etc., etc. Usually on your audit committee would be one staff member from the school and two parents that are members of PTO but not on the Board and if you cannot get two parents from the Board you can ask a involved parent. The audit does run very smoothly when the Treasurer has kept good records and all forms have been used/receipts kept as well.
Our by-laws state that they are to make full financial statement at every meeting (which they pretty much do but only print out about aq half dozen copies for about 20 people) and they shall make a full report at the May meeting (they don't do this because they don't audit the books until well after May) so there is no meeting for the end of year financial report. Again this goes into me trying to revise the by-laws to reflect this.
Our PTO has also had problems in the past with funds going unaccounted for. That mess is still being investigated. Since then OUr PTO has been using a professional accounting service, recommended by the school board, to perform yearly audits. I wasn't sure how much information was needed to be in a formal report since he will also receive all of my records. Also, do you do any special report to hand out at the last meeting of the year?
Talk about a situtation that our school has been through. Our by-laws states that the treasuer's accounts shall be examined annually by an auditing committee of not less than 3 MEMBERS who satisfied that the treasuer's report is correct and that these members would sign it. The committee is to be appointed by the president 2 weeks prior to the May meeting. Now here's the clincher we don't follow that by-law! several years back we had a board that had some serious money unaccounted for so the school stepped in and had the schools auditor audit it (most of the money was found but it was still questionable as to where all these mysterious "receipts" came from)since then the school now always has the professional auditors do it. It works out a lot better having a professional handle it, (and yes I am in the process of revising the by-laws to get us off the hook for that it's just a question of finding out now if I have to file our by-laws with the state as we have our own tax id number seperate from the school)
