January 16, 2022

Tip of the Week – January 13

Mid-Year Financial Reviews: The time is now to start planning

An annual financial review is required by WSPTA Uniform Bylaws but conducting a mid-year review may be required by your local PTA standing rules. Even if it isn’t, a mid-year review covering July – December is still a good idea. It can provide early feedback for the treasurer, expose any potential problems, and means the year-end review will only cover six months versus twelve.

Now is the time to start planning. Your PTA president appoints three PTA members who are not signers on the PTA bank account for the period being reviewed. There is a Financial Review Checklist, newly updated for 2021-2022, on the Leadership Guides webpage (under Board Resources/Finance) to help the treasurer prepare and the committee to conduct the review.

There is no requirement that the review take place in person. The tips on conducting a financial review remotely are available in this blog post from February 2021, Online Financial Review, and the information in Financial Reviews During COVID-19 from July 2020 is still valid.

Category: Leadership

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