Financial Reconciliation Committee

A financial reconciliation reviews all financial transactions to ensure that expenditures are properly documented and conform with the approved budget and the PTA’s governing documents.

A financial reconciliation is required, at least annually, at the end of the fiscal year. The review should also be performed:

• when any authorized check signer is added or deleted on any bank account; and

• at any time deemed necessary by the president or three or more members.

Financial Reconciliation Committees

• The president shall appoint, subject to the approval of the executive board, a financial reconciliation committee consisting of not less than three members, who are not authorized signers.

• Members of the financial reconciliation committee shall not be the current secretary, incoming treasurer or be related by blood or marriage and shall not reside in the same household as the authorized signers.

• For the financial reconciliation required at the end of the fiscal year, the president shall appoint the financial reconciliation committee at the last membership meeting of the year.

Resources

• BASICS Treasurer Guide

• Reconciliation Committee Confidentiality Agreement

• Financial Reconciliation Checklist

For more Financial Reconciliation information and forms visit TX PTA Financial Reconciliation page at https://www.txpta.org/financial-reconciliation .

There's a training for that!

There are actually 2 trainings for this. There is a training for the treasurer on how to prepare for the Financial Reconciliation (usually in April). The second training is for Financial Reconciliation committee members and goes through the process (usually in May). Check the NECPTA Google Calendar to see specifics.