PTO Financial Archive
The PTO is organized exclusively for educational purposes within the meaning of Section 501(c)(3)
of the Internal Revenue Code and is not organized for the private gain of any person. (reference: Article II of the PTO’s Constitution)
TAX Exempt Status
November 1991: The PTO received the IRS exemption classified as a Section 501(c)(3) organization. All donations are 100% tax deductible (Tax ID #77-0288041).
April 2018: The PTO received the IRS reclassification letter as a Public Charity.
An annual budget is presented to the membership for approval at the first PTO meeting in Fall. It is based on the preliminary budget prepared by the Treasurer with input from the Board, staff, and committee chairs. The preliminary budget is presented to the membership for approval, typically in the final PTO meeting of the previous school year. The preliminary budget includes the personnel commitment with the Cupertino Union School District (CUSD). The PTO Board is required to honor its financial commitment with CUSD.
The budget expense items fall into four categories:
- Program staff cost (under CUSD contract): music, technology, art, Fun Math, instructional aides, etc.
- Programs: classroom supplies, field trips, chromebooks, garden, Project Cornerstone, etc.
- Events: Monster Mash, Walkathon, Science Fair, Staff Appreciation Week, etc.
- Operation: Photocopies, insurance, accountant, bank fees, etc.
2018-2019 Preliminary Budget (May 24, 2018)
Thanks to all the PTO auditors in the past years for providing a necessary “third-party” check on the financial record-keeping processes of the PTO. By September each year, an audit report is required to be completed and submitted to the PTO Board for review. Below is an archive of audit reports.
The PTO Treasurer prepares a financial report for each Executive Board meeting to present the starting balance, monthly income, monthly expenses, and ending balance, plus year-to-date performance to budget.