The treasurer (required), financial secretary (optional), and financial reviewer are generally considered the financial officers of the PTA but all board members have fiduciary responsibilities to the PTA. All unit, council and district PTAs are required to have a financial reviewer who may be elected, appointed, or hired in accordance with bylaws. Job duties for the financial officer roles are detailed in the PTA bylaws, standing rules and job descriptions – consult these for further information.
On this page you will find forms, information and resources that can be used to assist the financial officers and unit presidents.
Financial Calendar, Task Lists & Helpful Links
- Burbank Council PTA 2023 – 2024 Financial Calendar
- Treasurer Monthly Tasks
- 2023-2024 Document Upload Checklist
- Finance Online Toolkit (CAPTA)
- Finance Toolkit (PDF)
Financial Forms & Sample Reports
- 2023-2024 Remittance Form (Excel)
- 2023-2024 Remittance Form (PDF)
- Third Party Payment Authorization Form
- Payment Authorization/Request for Reimbursement Form
- Request for Advance/Payment Authorization Form
- Authorization to Transfer Funds Between Accounts
- Authorization to Purchase on the Internet
- Authorization for Payment via EFT/Bank Bill Pay Services
- 2023-2024 Monthly Warrant Report
- Cash Verification Form
- Start-up Cash Verification Tracking Form
- How-To Treasurer’s Script
- Sample Funds Release Report
Taxes (Federal & State) and Government Requirements & Forms
The October 15th deadline for filing federal returns with the IRS, state returns with the FTB, and Charitable Trust Renewals with the OAG is quickly approaching. PTAs are income tax exempt (not sales tax exempt) but must adhere to state filing requirements therefore each Unit must file the following annually:
- A Federal IRS Form (only one of the listed forms)
- A California State Franchise Tax Board (FTB) Form (only one of the listed forms)
- The California State Office of the Attorney General (OAG) Annual Registration Form (RRF-1)
- If your unit has noncash contributions/in-kind donations, they must be tracked and the fair market value must be added to the gross revenue/receipts amount. Noncash contributions are any donation that is not cash. Examples include donated supplies, materials, licensing agreements, services and items that were not reimbursed. Additionally, noncash contributions items are utilized internally by the PTA and are not intended to generate a profit (ex. are not sold, auctioned or raffled off). Donated items that become PTA Assets, should be included in the Other Asset section and not as noncash contributions. While not a required report, noncash donations should be tracked in a separate spreadsheet – they don’t need to be entered into MyPTEZ.
- If your average gross revenue/receipts is LESS than $50,000 AND a 990N was filed, file a CT-TR-1 with the RRF-1. Include:
- renewal fee determined using the fee schedule
- lists of Other Assets, Other Liabilities, Other Revenue and Other Expenses
- If your average gross revenue is $50,000 or MORE, include a copy of the 990EZ or 990 with the RRF-1
- Average gross revenue is computed by taking the last three most recent years gross revenue and dividing by three
Example:
| Gross revenue for 2020-2021 = $15,000
Gross revenue for 2021-2022 = $52,000 Gross revenue for 2022-2023 = $45,000 Total Gross revenue = $112,000 Average Gross revenue = $37,733
|
Gross revenue for 2020-2021 = $45,000
Gross revenue for 2021-2022 = $52,000 Gross revenue for 2022-2023 = $61,000 Total Gross revenue = $158,000 Average Gross revenue = $52,667
|
| Forms to file: 990N, 199N, RRF-1,
CT-TR-1
|
Forms to file: 990EZ, 199, RRF-1 attaching a copy of the 990EZ |
If you filed for an extension (Form 8868) with the IRS, you are also granted an extension for the RRF-1
Units that are incorporated must also file a Statement of Information – Nonprofit (Form SI-100) with the California Secretary of State (due biennially in the month of incorporation). A filing fee is required.
You can file the forms in whatever order you would like but since you need the gross revenue number from the CT-TR-1 for the IRS, FTB and RRF-1, complete ALL forms and before you file any of them.
Once everything has been filed, please upload the returns/forms AND proof of filing to the BCPTA Google rive.
For units filing the 990N and 199N, it’s important to print out a confirmation page showing acceptance of filing by the IRS and by the FTB. This is your only proof of filing.
For units filing the 990EZ/990 and 199, your accountant should send you proof of acceptance of the e-filed returns.
You have an option to file the RRF-1 either online or by mail. If you are mailing your RRF-1 filing, you should send it certified mail, return receipt requested, to prove timely filing and receipt by the OAG. Do not forget to include either your CT-TR-1 or a copy of your 990EZ, and a check for the renewal fee.
We received a letter from the IRS / FTB / OAG. What do we do??
If at any time you receive a letter, postcard, invoice, or other communication from a government agency such as the Internal Revenue Service (IRS), California Franchise Tax Board (FTB), California Attorney General (AG), California Department of Justice (DOJ), or California Secretary of State (SOS), it is imperative that you notify the BCPTA Treasurer immediately. We will ask you to email us a copy of the letter you received and will assist you in resolving the issue. DO NOT call these agencies directly!
Budgeting
The budget is a financial representation of the goals, activities and operations a PTA expects to conduct during a specified time period. The budget estimates income and expenses for the year and must be presented to the association for approval and recorded in the association minutes. The budget must coincide with the term of office, which is usually also the association’s fiscal year.
Developing the Budget
Recommended Budget Line Items
Funds Not Belonging to the Unit
Approving the Budget
Amending the Budget
Protecting PTA Tax Exemption
Sample Budget & Category Classification
10 Tips for Creating a PTA Budget
Financial Review
A financial review is a formal examination of the financial books and records of the financial officers of the PTA. It serves to certify that receipts and expenditures, as authorized in the minutes, are in conformity with bylaws, standing rules, and budget limitations. The PTA financial review serves as an official examination of the financial records conducted by the financial reviewer, appointed financial review committee, or paid professional auditor at the times specified in the bylaws and when there is a change in financial officers.
- Financial Review Schedule
- Purpose of a Financial Review
- Preparation for a Financial Review
- Financial Review Procedure and Recommendations
- Financial Review Report
- Financial Review Form
- Financial Review Checklist
Important Forms and Links
Burbank Council PTA 2023 – 2024 Financial Calendar
CLICK HERE to access the CAPTA.org Tax Filing Support Center
CLICK HERE to access the FINANCE section of the California State PTA online Toolkit
STATE AND FEDERAL TAX REQUIREMENTS
PTA FINANCE FORMS & SAMPLE REPORTS
Unit Payment Authorization / Request for Reimbursement Form
Authorization to Transfer Funds Between Accounts
Authorization to Purchase Over the Internet
Council PTA Unit Remittance Form
Annual Financial Report Sample
Annual Financial Report Sample
PTA FINANCE HOW-TOS
Financial Secretary Duties & Sample Report
Paying Bills Between Association Meetings