Brooklyn Technical High School

1.1 The fiscal year of the association is from July 1 through June 30.

2.1 The president(s), treasurer, and assistant treasurer are authorized to sign checks. All checks require at least two signatures. Dual signatories cannot be related by blood or marriage.

3.1 The Budget committee is responsible for developing a budget for the next school year before June.

3.2 The Budget committee will:

     3.2.1 Develop and review the budget process

     3.2.2 Present a written review of the prior year's budget for discussion at the May membership meeting.

     3.2.3 Prepare and present a proposed budget for adoption by the membership at the May membership meeting

    3.2.4 Present any changes to the budget process for membership approval which must be voted on by no later than the October membership meeting regarding:

 Authorization for making emergency expenditures

 A process for counting, securing, and depositing all monies received

 A minimum threshold for unbudgeted expenditures requiring approval by the executive board

 If applicable the process for the establishment of an audit committee and its responsibility.

3.3 The budget committee will consist of five (5) persons and be chaired by the Treasurer.

3.4 The budget committee will follow the process below:

    3.4.1 The outgoing Executive Board must review the current budget, annual financial status, accounting, expenditures and outstanding bills at the first April Executive Board Meeting.

     3.4.2 The Treasurer and assistant treasurer will prepare a proposed budget for the next school year and will present it to the Executive Board at the first Executive Board Meeting in May.

      3.4.3 The proposed budget must be presented to and approved by the general membership no later than the May meeting.

    3.4.4 All expenditures not included in the budget at the time of its adoption must be approved by resolution of the membership.

   3.4.5 The incoming Executive Board must review the proposed budget in September for presentation and discussion during the September meeting. Budget amendments may be proposed at this time.

    3.4.6 The budget may be amended by vote of the general membership at any membership meeting.

    3.4.7 The Executive Board is authorized to make an emergency expenditure not to exceed $50 with a two-thirds approval by the Executive Board. The emergency expenditure must be explained to and accepted by the membership at the next calendar meeting. Emergency Expenditures are warranted when 1) the time between discovery of the need and the deadline for action is insufficient for approval through normal procedures, and 2) a majority of the elected members of the Executive Board have been notified of the situation and concur with the Emergency Expenditure.

    3.4.8 The audit committee will prepare a written report to be presented to the membership at its May meeting or upon completion of their review and investigation, as applicable. This report will be included for review and discussion during the June transfer of records.

4.1 The counting and handling of any cash, checks, or money orders received requires at least two non-related PTA] members to participate. Cash will be counted within the same day, recorded and placed in the PTA safe until it can be deposited. All monies must be counted in the presence of the Treasurer and/or Assistant Treasurer.

4.2 The treasurer or authorized board member(s) will deposit all funds in the bank account as soon as possible after receipt but no longer than one month after receipt. No funds will be kept in a board member’s home and must be secured and locked in the school.

4.3 Documentation related to every transaction must be maintained at the school, i.e., cancelled checks, deposit receipts, purchase orders, PTA minutes related to the expenditure, etc.

5.1 The President appoints an Audit Committee with the approval of the Executive Board every three years or when projected revenue exceeds $25,000, for tax reporting purposes.

5.2 The audit committee will review the controls and procedures governing the PTA’s Financial Affairs.

    5.2.1 The audit committee will prepare an audit of all financial affairs of the organization for, the current school year and the prior school year, with the help of the treasurer who will make all books and records available to them.

    5.2.2 Additional duties of the audit committee may include the examination of all relevant financial statements and records of disbursements, verification of all association equipment and ensuring compliance with bylaw provisions for the expenditure of funds.

    5.2.3 The audit committee and Treasurer will recommend if an Outside Auditor is retained to prepare financial statements for tax filing purposes. The outside auditor will be a Certified Public Accountant and a member in good standing of the American Institute of Certified Public Accountants.

    5.2.4 The Treasurer will recommend to the Executive Board the engagement of a specific Outside Auditor. Once the Executive Board has approved a specific Outside Auditor, the recommendation will be submitted to the General Membership for their approval at the next General Meeting. The Treasurer will then be authorized to engage the Outside Auditor to prepare the Audited Financial Report.

    5.2.5 The Audit Committee will report back to the Executive Board its assessment of the PTA’s Financial Affairs and any recommendations.

    5.2.6 The committee will consist of three to five Members, none of whom is empowered to authorize or sign for any type of expenditure or disbursement. Members must be qualified by education or experience to serve on the Audit Committee.

5.3 Executive Board members, if they are not check signatories, may serve. The majority of the committee should be comprised from the general membership.

5.1 The treasurer will prepare and provide copies of the Interim Financial Accounting Report by January 15th and a projected or estimated Annual Financial Accounting Report by the June meeting including all income and expenditures, to be presented and reviewed by general membership. Copies of these reports will be provided to the principal.

6.2 Copies of the January and June Financial Reports must be submitted to the Membership at the General Meetings in February and June, and to the Principal in accordance with Board of Education regulations.

6.3 The treasurer is responsible for all monies of the association and will keep accurate records in a form consistent with these bylaws and applicable Chancellor’s Regulations.

6.4 The treasurer, assistant treasurer, secretary, at least one other PTA officer, and additional persons, as needed, will be designated and approved by the PTA Executive Board to collect, count, tally and record all orders and payments.

6.5 In accordance with Chancellor’s Regulation A-610, parents must obtain approval from the principal before collecting monies from students. For cash collections exceeding $500, the treasurer and at least one other PTA officer will transport funds to the bank, and deposit slips will identify the source of all monies deposited.

6.6 All parties involved in these financial transactions will initial the deposit slips. The treasurer will make all authorized disbursements and will, within the next month of receipt deposit all monies of the association in a responsible banking institution selected by the association.

6.7 All records of the association including checkbooks, ledgers, cancelled checks, invoices, receipts etc., will be maintained and secured on school premises.

 

 

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