Question: When does the new treasurer take over the books?
Answer: According to your bylaws, the Treasurer takes office on the first day of the fiscal year, usually July 1. Before a new Treasure takes over the books, the outgoing Treasurer should arrange for the books to be audited by a committee consisting of at least three non-check signers. The Treasurer is not part of the Audit Committee, but should be available for questions and should provide all of the materials related to the finances of the unit (budget, minutes, treasurer reports, bank statements, cancelled checks, vouchers, recepts, etc. See the NYS PTA Resource Guide for suggested procedures for the Audit Committee. Once the Audit Committee completes its work, it then turns all of the books over to the new Treasurer. One the first things the new Treasurer must do is to go to the bank to update the signature cards for the new officers.
Question: Can I pay sales tax when we purchase our merchandise for sale so I don’t have to collect it when we sell it?
Answer: No, sales tax must be collected from the end user (customer) on the retail price, not the wholesale price.
Question: Can we have a fundraiser to raise money for a student who needs an operation?
Answer: No. Funds cannot be raised through the PTA for an individual, no matter how worthy the cause.
Question: Do I have to pay sales tax on prizes purchased as giveaways at a carnival?
Answer: No, items purchased for PTA use are exempt from sales tax. As these items are not sold, neither would sales tax be collected.
Question: Our unit needs a replacement copy of our NYS Tax Exempt Certificate, form ST-119. How do we get one?
Answer: The unit president or treasurer can call the NYS Dept. of Taxation and Finance (518-485-2889) to obtain a replacement copy. You will need your unit’s FEIN and NYS Sales Tax Exempt number. The tax department will send a new copy with a week or two. The form must be mailed to the school or school district address. It cannot be mailed to an officer’s home address. Remember to let the school’s office know the form is coming to your PTA. Go to tax.ny.gov/bus/st/exempt.htm for more information.
Question: If we make no profit on our school supplies, do we have to collect and pay sales tax?
Answer: Yes, profit is not a factor in determining what items you must collect sales tax on.
Question: How much money can we carry over to next year?
Answer: There is no established minimum or maximum amount. It will vary from PTA to PTA based upon when each holds its fundraisers. If you have no fundraiser until spring, you will need to carry over more than if you’re major fundraisers is in the early fall. However, a PTA should not raise more funds than is necessary to run the PTA and its planned programs and activities.
Question: A local business wants to make a contribution to our PTA but needs proof of our 501(c)(3) nonprofit status. What do we do?
Answer: Give them a copy of your IRS Letter of Determination letters. This will be a Letter of Determination for NYS PTA and a letter from the NYS PTA Treasurer that states that your unit is under the umbrella of the NYS PTA nonprofit status and therefore a nonprofit as well. Contact your Region Director/Assistant Director if your unit do not have one on file.
Question: Can our PTA give door prizes?
Answer: Yes, as long as the PTA membership has approved the membership and its associated expenditure. This expenditure should be included in the budget.
Question: Can our PTA be a paying member of our local Chamber of Commerce?
Answer: Yes, as long as the PTA membership has approved the membership and its associated expenditure. This expenditure is included in the budget.