Financial Corner

• Per the local unit bylaws, the treasurer shall have custody of all of the funds of the association; shall keep a full and accurate account of receipts and expenditures; and shall make disbursements in accordance with the approved budget, as authorized by the association. 

• Consider your PTAs goals and the resources needed to achieve your planned activities. 

• Study the previous year's final budget actual income and expense and the prior year Treasurer’s reports to determine how well that budget met the PTAs needs and adjust accordingly to each line item. 

• Use the 3-to1 Rule: For every ONE fundraiser budgeted in the income section, there should be at least THREE non-fundraising programs and projects budgeted in the expense section. When planning the year's activities, use this rule. This does not mean that you have to spend all of the receipts from that ONE fundraiser on these THREE programs in the expense section. Study the recommended Programs on the National PTA website that are available with minimal or no cost. https://www.pta.org/home/programs 

• IRS Charitable Class: PTA fundraisers cannot benefit individuals in need. The programs and projects in the expense section of the budget must be equitably distributed to benefit all members of the 501(c)(3) “charitable class” designated in the bylaws. 

• Do not hold a fundraiser just because it is traditional and later decide how to spend the income. Determine your PTAs projected financial needs, considering the funds needed for administrative expenses, approved programs, training and leadership development. Determine which fundraisers will be required to meet these proposed expenses. 

• Develop a one-year budget that shows existing funds (carryover funds), as well as projected funds raised and anticipated expenditure or receipts for the year's activities. The Income section of the budget should equal the expense section. Be sure to include the carryover funds in the total income.

• Include an Interim/Summer Budget to allow for necessary expenditures in the interim between the end of the fiscal year on June 30 and before your new budget will be presented for approval at the beginning of the next school year. The “Interim/Summer Budget” may include line items for a welcome back breakfast for teachers during the pre-planning period or registration, standard administrative expenses that are due in the summer, travel and registration expenses related to the Florida PTA Leadership Conference. 

• Budget Line Items: There is no right or wrong way to name budget line items. The INCOME section of the budget must be specific. There should be a separate line item for each source of income, including a line item for every proposed fundraiser, box tops, sale of inventory, membership dues income, grants, and donations. In the EXPENSE section list all programs and projects in separate line items, a specific expense line item for each proposed fundraiser, and lines for all other administrative expenses, training, bank fees, insurance, State & National portion of dues, and County Council dues. Just be sure to explain the methodology used in naming the budget line items to the members. 

• Include training Registration and Travel Expenses for County and State Conferences/Workshops/Trainings in your budget.  

• Attending annual training is a requirement of a Unit to remain in Compliance. 

• Please be sure you have budgeted for training and have it approved before the end of the year so that you can pay for expenses between June 30th and the 1st General Member Meeting of the new school year and that Training is a budget line item in each annual budget. 

• Remember that you must pay your unit's State Monthly Membership Dues through your MemberHub site or via check with an attached DUES FORM, on a monthly basis. 

• Your Annual County Dues are due once a year by October 31st, paid by credit card on the MemberHub link: (https://browardcc.memberhub.com/store/items/55421) 

or 

by check through the mail with a DUES REMITTANCE FORM 2022-2023 attached.  

• To be considered active with Florida PTA - units must pay for at least 10 members.

• If you are past due, and are planning on participating in a program such as Reflections, or applying for a grant or award, you must make payment asap to bring your unit back into compliance or you will be ineligible.