The audit committee will conduct a monthly review of the PTSA’s bank statements and supporting documents and shall sign an acknowledgment on the bank statements that the expenditures were consistent with the approved budget. They will determine the accuracy of the books and records of the financial officers and detect and recommend correction of errors. Committee will assure the membership that the association’s resources and funds are being managed in a businesslike manner within the regulations established for their use. By August 31 each year, the audit committee shall:

    1. Examine the treasurer’s year-end financial report and the PTSA’s financial records (including but not limited to all depository accounts, the general ledger of receipts and expenditures, supporting documentation and checks, and records of membership dues paid); and
    2. State in writing whether or not the treasurer’s year-end report is correct and shall submit that statement, with a copy of the report, to the board of directors.
    Time Commitment: Monthly audit (approx. 30 minutes per month, can be done at home); Year-end financial review (approx. 1-2 hours in August).
    Duration: August through May
    Important Dates: August 31 – Year-end review due
    Accountable To: PTSA President
Last Modified on August 18, 2019