Friday, July 22, 2011

Treasurer Preparing For Next Year


I am the newly elected Treasure of my local unit, and I’ve received the check book and other financial records from my predecessor.  The financial review has been completed and everything was in order.  Fortunately all of our bills have been paid and we’re not planning on receiving any funds until late August.  Is there anything I need to do in the meantime to get ready for next year?  

Thanks for your willingness to step up to this important leadership position, and congratulations on getting off to what looks like a great start.  This time of slower activity is an opportunity to make sure the procedures are in place for the coming year.  For example, do you have at least 3 signers on the bank account, so that you’re able to have two signatures even when one of them is out of town?  Also, has your Executive Committee identified a non-signer board member to review the bank statement each month and then pass it along to you?  Even though the Federal income tax return (990, 990EZ or 990N) isn’t due until November 15th, you can file it early—and the same for your unit’s annual report to the Charities Program at the Washington Secretary of State’s Office, which isn’t due until next May 31st.  And of course don’t forget that even though there’s little or even no activity during July and August, you need to prepare and submit a financial report for those months, just the same as for the months when there’s a lot more going on.  Finally, make plans to attend your region’s Fall Conference and PTA and the Law workshops where you will receive a lot of useful information to help you be successful in this important role.  Keep checking your region’s web page on the WSPTA website for updated information about the scheduling of these events.