AUDIT COMMITTEE
Audit Committee Objective
Purpose: To certify the accuracy of the books and records of the PTA. To assure the membership that the association’s resources/funds are being managed in a business-like manner within the procedures established.
What is an Audit?
Auditing involves following financial transactions through the records to be sure that receipts have been properly accounted for and expenditures made as authorized in the budget, as approved by the general membership, and in conformity with PTA bylaws and standing rules. The audit must review all accounts of the PTA.
Composition of committee: The committee is composed of not less than three members appointed by the executive board at least 30 days before the last meeting of the year (“Suggested Bylaws for Local Units,” *Article XIV).
No one who is an authorized check signer on any bank account may serve on the committee. It is recommended that the incoming treasurer should not be eligible to serve on the committee.
When an audit is performed:
- At the end of the fiscal year.
- When any authorized check signer is added or deleted on any bank account.
- At any time deemed necessary by the president or three or more members.
2014-2015 Committee Chair, Vacancy