Being your unit’s treasurer does not have to be overwhelming. We have put together the following tools to make your job easy. Also remember to call the state office if you’re having any difficulties or need additional forms.
First things first:
Your PTA Fiscal Year should be from July 1st through June 30th. Review Beginning of Your Term & Fiscal Year.
You are important to your Units Good Standing:
1. Membership Dues (at least the 1st installment) must be submitted with a Membership Remittance Form to the state office no later than November 1st. Dues are $5.25 per member and tax deductible. You will be working with your membership chair to complete this.
2. Annual Audits must also be submitted to the state office no later than November 1st. Audits must be preformed annually at the end of each fiscal year AND/OR before any new officer (who is a signatory on the account) assumes their duties.
What you need to know about Budgets:
1. A budget is an outline of estimated income & expenses that covers a 1 year period that should equal receipts/vouchers.
2. Funds should not be spent until you have an approved budget.
3. The budget is created by a finance or budget committee and presented to the membership for approval. It should be presented item by item to allow for discussion.
4. Budgets may be amended by vote of the association during the year. Additional expenditures not provided for in the budget must be approved by the membership.
You are responsible for Reconciling AND Reporting Finances to your membership monthly. **Make sure someone (who is NOT a signer on the account) signs your reconciled bank statement for insurance coverage purposes!
Wisconsin PTA Treasurer’s Handbook – Your instruction book for all of your duties. This handbook covers all of the above, gives samples and much more!
National PTA Finance Quick Reference Guide
National PTA Electronic Commerce Guide
Defining the Difference Between Theft & Fraud
Defining Tax Deductible Membership Fees
Mismanagement of PTA Funds
Fund Raising & Finance Guide (Where should PTA dollars go?)
The Wisconsin Department of Financial Institutions (DFI) and the Internal Revenue Service (IRS) REQUIRE filing annually with them to maintain your tax exempt status.
Wisconsin Registration to Solicit Donations Info (with informational LINKS) – This registering needs to be completed each year by July 30th for all charitable organizations that collect over $25,000 in solicited or unsolicited contributions. This means you! Click the above link for forms and more information.
PTA Federal Tax Filing Info (with informational LINKS) – The IRS filing needs to be completed each year by November 15th. All non-profits are required by the IRS to file a 990 ANNUALLY. (Important! If you use an outside accountant, tax person OR auditor to prepare your Federal 990, make sure they are experienced in NON-Profits)
Federal Tax Exemption & State Sales Tax Exemption Info– Find out what allows you to be a tax exempt entity Federally AND avoid paying sales tax in Wisconsin. (It is an optional one time filing, which MOST units have already completed) Click the above link for forms and more information.
Don’t forget to send a copy of the above filings into the state office for us to keep in your file. Last but not least….
- Tax revocation questions? Get your answers here
- Raffles – Your PTA more than likely needs a raffle licence to hold one. Information can be found on the Wisconsin Department of Gaming website.
- Copies of your PTA WI Sales Tax Exempt form can be obtained through the WI Dept. Of Revenue. If Wisconsin PTA has a copy of your form on file, we can also furnish it for you.
- Check out your legal requirements for obtaining movie viewing licences, music rights and more on our
Legalities to Know page.
- Incorporation – or being incorporated. This is not necessary but highly recommended to units. You may get documents to become incorporated at the WI Dept of Financial Institutions.
- Monthly Treasurer Report Sample (Can be customized-presented and filed at each PTA meeting to show current activity in regards to the budget)
- Receipt Report Form (blank-completed when monies are taken in at a PTA function for the permanent record)