Audit Committee
PTO Board Contact: Treasurer
Time Required: Few hours in beginning of August
Summary:
1) Compare all cash receipts and deposits to bank statements
2) Confirm that all disbursements have been properly approved by treasurer
3) Confirm that all disbursements have been properly documented with an invoice or receipt
4) Confirm all checks were signed with two signatures
5) Make sure there are no missing checks
6) Confirm that the IRS form 990 was filed on time (or an extension approval was granted)
7) Review the treasurer's monthly reports
8) Confirm that all receipts and disbursements were expended towards school support and educational enhancements
9) If exceptions are noted during the audit (errors, irregularities), consult with the organization's treasurer and president to resolve the exception. The treasurer is responsible for making any corrections to the ledger or checkbook.
2) Confirm that all disbursements have been properly approved by treasurer
3) Confirm that all disbursements have been properly documented with an invoice or receipt
4) Confirm all checks were signed with two signatures
5) Make sure there are no missing checks
6) Confirm that the IRS form 990 was filed on time (or an extension approval was granted)
7) Review the treasurer's monthly reports
8) Confirm that all receipts and disbursements were expended towards school support and educational enhancements
9) If exceptions are noted during the audit (errors, irregularities), consult with the organization's treasurer and president to resolve the exception. The treasurer is responsible for making any corrections to the ledger or checkbook.