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PTSO

 

FINANCIAL STANDING RULES

 

1.    Sufficient justification and documentation (PTSO downloadable form, receipts, etc.) is needed for the Treasurer to issue funds requested for reimbursement or payment.

2.    Reimbursements requested from a PTSO member (or other entity) shall be signed by two Board Officers with signatory authorization on file at the bank.  All reimbursements will be in the form of a check or other monetary instrument (i.e. - no cash reimbursements allowed).

3.    All financial assets (monetary or tangible) are to be turned over to the PTSO Treasurer within 10 business days upon receipt. 

4.    All bills, or other financial documents, are to be turned over to the PTSO Treasurer within 30 business days upon receipt.

5.      No member can allocate or commit the PTSO to any manpower or financial resources (for financial matters – those outside of the approved yearly budget) without first obtaining consent of the executive board members.
  1. Sales tax is a non-reimbursable expense for any member.  Request a sales tax exclusion form from the Treasurer, or download this form from the BWHS PTSO website.  Offer this form to the establishment or company you are soliciting goods or services from prior to making any transaction.

  2. All financial instruments of tender or deposit should have either:  “'Briar Woods High School PTSO’ or “BWHS PTSO” written on the “Pay to the order of” line.
  3. Whenever the PTSO gross income (including donations) exceed $25, 000 for a given fiscal year, the PTSO must file the IRS tax form 990.


Last Modified on March 18, 2009