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Treasurer Topics 2

Treasurer Topics 2. Workshop 4 Friday 10:30-11:45 am Teresa Atherley, Utah PTA Treasurer teresa@utahpta.org Facebook group: Utah PTA Treasurers. 501 (c)(3). What is a 501 (c)(3) status? Benefits Protecting Exempt Status Responsibilities of Tax-Exempt Status. By-Laws.

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Treasurer Topics 2

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  1. Treasurer Topics 2 Workshop 4 Friday 10:30-11:45 am Teresa Atherley, Utah PTA Treasurer teresa@utahpta.org Facebook group: Utah PTA Treasurers

  2. 501 (c)(3) • What is a 501 (c)(3) status? • Benefits • Protecting Exempt Status • Responsibilities of Tax-Exempt Status

  3. By-Laws Local Membership dues listed Council dues listed (if applicable) Shows the length of term for positions Gives basic job descriptions IRS EIN Number

  4. 990 • What is the difference? • 990 ez • 990n • Due to your Region Director by August 1st • Due to UTAH PTA by September 1st

  5. Accepting Credit Cards • Local PTAs must follow proper procedures as a board by: • Holding monthly board meetings • Giving a verbal treasurer’s report at each board meeting • Monthly reconciliation of back statements • Minutes taken at every board meeting and printed out for the next meeting • Follow all financial guidelines • Must have 3 check signers If all of these guidelines are met, then the executive board can start exploring the use of accepting credit cards for membership or fundraising purposes. It must be made as a motion at a board meeting where a quorum is present, it must be voted on and it must be recorded in the minutes.

  6. Amending BudgetsPage 19 • It must be made by a motion in a general meeting • Any substantial change must be approved by a 2/3 vote of a quorum of the membership. • The amendment must occur prior to any additional funds being disbursed

  7. FundraisingPage 31-35 PTAs are not in the fundraising business. Please check with your school district Plan with your principal

  8. Sales Tax Refund RequestsPage 29 and 51 • Request Dates • January 1-June 30 Due to Council/Region August 1t • July 1 – December 31 Due to Council/Region February 1st • How to Submit refund • Fill out the request located on the website or the paper copy in the Treasurer handbook • Fill in the date and to whom and purpose of purchase and sales tax • Use a spreadsheet of 10key tape to show proper addition • Sign the form indicating it is correct

  9. Questions?

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