TREASURER’S TIMELINE
MDPTA and National Dues is $4.25 per member

  • Your PTA unit is chartered under MD PTA and is a 501(c)(3) organization
  • Donations to the PTA are tax deductible
  • All PTA’s are incorporated
  • Treasurer and one other officer must attend financial training provided by PTA Council or Maryland PTA by Oct 30
  • Read MD PTA CASH ENCOUNTERS

Daily/Monthly Duties:
-Keep detailed written and/or electronic records
-Collect and count all monies received
-Pay all bills promptly by check signed by two (2) people
-Prepare and make bank deposits
-Balance bank account(s) with statement(s) signed by President, Treasurer and one (1) other non-signatory Board Member
-Prepare the financial statements for board and general meetings
-Mail membership dues monthly to Maryland PTA (if applicable)
-Submit $0 sales tax report (if applicable)

JULY

  1. Verify that insurance premium was paid
  2. Establish a budget committee (Treasurer is the chair) and prepare budget for upcoming fiscal year (Budget = PTA Goals)
  3. Prepare the annual financial report (final report of the year showing status as of June 30th)
  4. Ensure the PTA’s financial review is conducted
  5. Begin preparing Form 990 and accompanying schedules and MD Charitable Renewal forms
  6. Obtain new bank signature cards:  add new officers/remove past officers (bank may need minutes from election)

AUGUST

  1. Present report of the financial review and proposed budget to Board of Directors
  2. Acquire membership cards and verify amount with membership chair

SEPTEMBER

  1. Present annual financial review and financial review report to general membership
  2. Present budget to general membership for adoption

OCTOBER

  1. By October 1:  Send MD PTA first membership payment dues
    Only pay for those memberships sold to date. And continue membership drive every month.
  2. By October 31:  Send copy of the financial review and financial review reports to MD PTA
    Send via email to:  office@mdpta.org or snail mail to:  MD PTA, 5 Central Avenue, Glen Burnie, MD  21061

NOVEMBER

  1. By November 1:  Send PTA Council of Howard County membership dues of $170 and if so provided in your budget, donate to PTACHC Scholarship Fund .  Donations are accepted throughout the year.  See PTACHC Invoice 
    Mail council/scholarship dues to:  PTACHC, 5451 Beaverkill Road, Columbia, MD  21044
  2. By November 15:  File Form 990N or Form 990EZ to the IRS and send a copy to MD PTA
  3. If you will need Form 1099-MISC and Form 1096, request them from the IRS
  4. Remit MD PTA/National PTA dues collected since Oct. 31

DECEMBER

  1. By December 30:  File Annual Update of Registration form for Maryland Charitable Organizations including form COF-85 if necessary and send a copy to MD PTA
  2. Remit MD PTA/National PTA dues collected since Nov. 30

JANUARY

  1. Begin preparing MD Personal Property Tax form
  2. By January 31:  Mail Form 1099-MISC to individuals paid $600 or more in the previous calendar year.  (ONLY IF the PTA paid to a non-incorporated business or person for services rendered or in payment for grant, award, or scholarship during the calendar year).
  3. By January 31:   Mail Form 1096 to IRS with copy A of 1099-MISC
  4. Remit MD PTA/National PTA dues collected since Dec. 31

FEBRUARY

  1. Remit MD PTA/National PTA dues collected since January 31

MARCH

  1. Remit MD PTA/National PTA dues collected since February 28

APRIL

  1. Due April 15th – The PTA’s Personal Property Return and send a copy to MD PTA  (Keep a copy for your records)
  2. Remit MD PTA/National PTA dues collected since March 31

MAY

  1. Ask for all disbursements/receipts to be turned in by a specific date of your choice
  2. Begin to select Audit committee/Financial reviewers
  3. Remit MD PTA/National PTA dues collected since April 30

JUNE

  1. Pay PTA Insurance Premium
  2. Pay all outstanding bills & final disbursements by your cut off date
  3. Prepare books for financial review (After the audit is completed, the new treasurer can accept the financial books)
  4. By June 30:  Return unused/unsold/damaged membership cards with any dues collected since May 30 to MD PTA

REMEMBER –You MUST keep a copy for your PTA files AND you must send a copy to MD PTA of your:
1.Financial review/audit
2.990EZ/990N whichever is filed
3. MD Charitable Registration update
4. Personal Property Return
to MD PTA no later than 30 days after it was due

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MD PTA, 5 Central Ave., Glen Burnie, MD  21061
Email:  office@mdpta.org
Phone:  410-760-6221 Fax: 410-760-6344
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Gov’t WEBSITES:
IRS website: www.irs.gov – for the 990N or 990EZ forms
Charitable Organization
Personal Property Return