Finance Guidelines for PTC Committee Chairs
Please contact the PT Council Treasurer, TBD, for information or if you have questions or concerns about your committee's budget. Please keep in mind that all written contracts for services must be reviewed and signed by the PTC President. Committee chairs may not enter into a legal contract or agreement on behalf of PT Council and may not exceed their budget without prior approval.
PTC Expenses and Reimbursement:
PT Council is a tax exempt 501(c)(3) organization and will not reimburse individuals for sales tax expenses. When making purchases on behalf of PT Council, please obtain a copy of the sales tax exemption form from the PTC Treasurer to present at time of purchase. Non-PTA purchases must be rung up separately. Keep every receipt, invoice, bill, etc. and submit all originals promptly to the PT Council Treasurer along with a completed 2020-21 Expense Reimbursement Form. Cash tips, if any, should be pre-approved, itemized on the Expense Reimbursement Form, and set aside from petty cash in advance of the event.
The fiscal year ends on June 30. All reimbursement requests along with supporting documentation forms must be submitted no later than June 20, 2021 to be reimbursed.
PTC Income and Petty Cash:
PT Council will provide your committee with petty cash and cash boxes for events that need them. Please contact the Treasurer and allow at least one week’s notice to arrange for delivery. If using a cash box or receiving cash or checks, you will need to fill out an Income Tally Sheet. Sort and count all bills and coins and record the amounts of cash and checks on this form. Please be sure to give all money and the completed form to the Treasurer immediately after the event.
If your committee sells items or event tickets online, please allow ample time to determine pricing, generate the online sales page, and publicize the items or event. All online sales should be coordinated with the PT Council President and Treasurer.
Please Be Cost and Environmentally Conscious:
PT Council is striving to reduce spending wherever possible so that more money can be spent on programs that benefit our students, parents, and teachers. Please do not spend out of pocket for your committee’s expenses: we need to maintain records that reflect the actual costs of our projects and activities. If your committee will be hosting an event that involves food service within any of the schools, please make sure that all your paper goods and supplies are compostable. In addition, please keep in mind that vendors often cut prices or donate services or goods to a nonprofit organization such as the PTAs. We have used many local businesses on a regular basis with good results and fair prices. Please contact the PT Council Treasurer for suggestions about vendors that we have used in the past before you make any purchases.
If you have any other cost savings ideas, please share them with the PT Council Executive Committee and include them in your notes for the chairs to follow in your footsteps.