Audit Committee

What does the audit committee do?

Once a year, during the summer break the Auditing Committee audits the records of income and expenses maintained by the treasurer.

Why an audit?

​Because PTA runs on the power of volunteers, the treasurer has sole authority to make payments within the approved budget. The treasurer also creates and manages the budget and oversees the cash disbursements. This is a lot of responsibility for one person, and it is helpful to have more eyes to review payments and income. 

What type of volunteers does the auditing committee need?

ANYONE! Yes, financial experience is a plus, but not necessary,  the transactions made by the PTA are not complex. 

​What type of activities are involved?

Generally the treasurer emails the excel file to the committee members, they review it (2-3 hrs) and one (or more) members of the committee meet with the treasurer sometime before September to review hardcopy supporting documentation and get any questions answered. 

​We ask that the audit committee complete the audit checklist, which includes identifying the ending and starting balances for the year, reviewing a few transactions to verify there are supporting documents (invoices, carbon copies of checks, deposit slips, etc.) and going through treasurer records to very there are no unexplained unusual transactions.

When and how much time will it take me to volunteer?

You can spend as much time as you want but generally a group of 3 volunteers spends 2-3 hours per person on the audit.