Our fiscal year ends July 31; we get out of school mid-June (yes, we have one more week). We try to get all our outstanding bills paid before school gets out, but technically, we have another month until July 31 for the stragglers. It's ok to have outstanding payables when you start a new fiscal year, we just prefer not to.
Our treasurer creates a monthly report every month, July included. In August, we have the books audited. Since we report every month, she doesn't do a special year end report other than to print out a listing of all the transactions by category for the year. Hope this helps.
Our school year ends about 3 weeks into May. We used to cut off all fund requests at May 1st so we could have our paperwork done by the end of the school year. Some procedures changed this year and our cutoff wasn't until the last day of required duty for most staff. Though we don't have an official deadline except before the first PTO meeting of the next school year, but it wouldn't be unrealistic to suggest that this could be done within 2 weeks after the last bank statement of the year is received. These records are something we update and make available for each monthly meeting.
The irony of commitment is that it’s deeply liberating-in work, in play, in love. The act frees you from the tyranny of your internal critic, from the fear that likes to dress itself up and parade around as rational hesitation. To commit is to remove your head as the barrier to your life. --Anne Morris
By July 30, the Treasurer submits a year end report to the Superintendents office. This is a listing of the FY Start Balance, a listing of all the fundraisers that occurred and for what purpose (budget line item) they were targetted to, total expenses, and FY Final Balance. We also submit a detailed report of every transaction.
By early September, the Treasurer is prepared for to present his/her report at the first PTO meeting. This one is a little special because it specifically detailed the finances from the last meeting until the end of the FY (showing the balance that was reported to the Superintendent), and then from the end of the FY until that meeting.
And since we are a 501c3, by November 15th (4 months and 15 days from the end of the FY) we are required to file the 990 paperwork with the IRS and the 990 and state paperwork with the Dept of Revenue.
<treasurers paperwork>
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18 years 1 month ago#104017by <treasurers paperwork>
