Financial Review Report at a glance
What it is: The Financial Review Report records that the financial reviewer examined the financial records of the treasurer of a PTA/PTSA.
Who signs: The Financial Reviewer signs under Financial Reviewer's Signature and enters a Printed Name. Mark Yes or No for Financial Reviewer is a qualified accountant; if Yes, Financial Review Committee is not required. The Review Committee Signature(s) go on the Review Committee Signature(s) line.
A filled-in Financial Review Report example: a financial reviewer reports on one bank account
How to fill out Financial Review Report, box by box
Unit, bank and membership
Enter the Date, Fiscal Year, Name of Unit, IRS EIN, Council and District PTA.
Enter the Bank Name, Acct Name, Bank Address and City/Zip.
Enter the Membership Dues Per Bylaws, Total Members YTD and E-Members YTD.
Dates and check numbers covered
Enter the dates covered by this review, from one date to another, and the check numbers included in this review, from one number to another.
Balance on hand
Enter the BALANCE ON HAND as of end of the last review period (date), the RECEIPTS since last review and the DISBURSEMENTS since last review, then the BALANCE ON HAND as of (date).
These lines must balance.
Bank reconciliation
Enter the BANK STATEMENT BALANCE as of (date) and the DEPOSITS not yet credited (add to balance).
List the check number and amount for UNCLEARED CHECKS; subtract the TOTAL uncleared checks from balance for the BALANCE in bank account as of (date).
What the financial reviewer finds
Read the following when the financial reviewer's report is given: the financial reviewer has examined the financial records of the treasurer of the PTA/PTSA and finds them:
Correct with no recommendations; Correct with the attached recommendations; Substantially correct with the attached recommendations and findings; Partially correct, where more adequate accounting procedures need to be followed so that a more thorough financial review report may be given; Incorrect.
Attach separate report of explanation and recommendations to executive board. A separate financial review form must be completed for each bank account.
Dates, signatures and copies
Enter the Date Financial Review Completed, the Date Review Examined by Committee, the Date Executive Board Adopted and the Date Association Adopted.
The Financial Reviewer signs under Financial Reviewer's Signature and enters a Printed Name.
Mark Yes or No for Financial Reviewer is a qualified accountant; if Yes, Financial Review Committee is not required.
Definition of qualified accountant can be found in the Insurance Guide.
The Review Committee Signature(s) go on the Review Committee Signature(s) line.
Copies to: unit president, secretary, and treasurer; Upload a copy of the report and findings as one file to the document retention system.
Sources
[1] Financial Review Report (Revised November 2022), California State PTA (the Official source link on this page).
