PTA Deposit Policy
Objective: To provide appropriate controls over money received by the PTA.
PTA committee chair
Financial assistant/treasurer verifies the amounts and makes the deposit at the bank.
Overall procedures:
Committee chair (or designated committee member)
* Cash may not be removed from the school.
* Prefer that checks remain at the school, but they may be removed by chair.
Financial Assistant
PTA committee chair
- counts the funds
- prepares a detailed spreadsheet of all items received
- completes PTA deposit sheet
- attaches to the deposit sheet a spreadsheet that agrees with the deposit total.
Financial assistant/treasurer verifies the amounts and makes the deposit at the bank.
Overall procedures:
Committee chair (or designated committee member)
- Coordinates with financial assistant to retrieve forms/money from the lockbox.
- Counts and documents monies received.
- Balances funds received to event/order forms. PTA room is a quiet space which can be used for this purpose.
* Cash may not be removed from the school.
* Prefer that checks remain at the school, but they may be removed by chair.
- Maintains spreadsheet with payer, amount received, ck/cash, ck number, total deposit, date of deposit. For each deposit, a detailed spreadsheet is produced where the total funds received equal the deposit amount.
- Completes PTA deposit sheet (form available on PTA website and copies are located on top of lockbox) and attaches spreadsheet where amount received equals deposit amount.
- Places completed deposit sheet and spreadsheet with checks and cash into the lockbox.
- Notifies financial assistant that deposit is in the lockbox.
Financial Assistant
- Verifies the deposit.
- Completes the bank deposit slip.
- Deposits the checks/cash into the bank.