Friday, December 16, 2016

WSPTA Leadership Roundup: Week Ending 12/17

In observance of the holiday season, the WSPTA office will close at noon on Friday, December 23 and will re-open Tuesday, January 3rd.
PT Avenue will be down for major maintenance on December 27th and 28th. You will not be able to access PT Avenue during this time.

Contest Extended to December 20th
Thank you to all who joined a PTA this past month, and thank you to the PTAs for entering their new gift memberships. 

A holiday bonus: We are extending the contest entry period 'til December 20th and we will hold the drawing January 13th. Enter gift memberships here.
December 31
The WSPTA Leadership Committee is reaching out to seek external presenters for the 104th Annual WSPTA Convention, April 28-30, 2017. If you are or know a great presenter with an applicable topic, complete the online form. Form includes tips and disclaimer. 
January 16, 2017 | Capitol Building, Olympia
Have you registered yet? Focus Day is fast approaching. The final agenda and plans are being accomplished and this exciting event will be published next week - stay tuned!
This week a PTA president came into the office because he was just informed that their treasurer had wire transferred over $7,000 to another bank account, based on a fraudulent email she received. The treasurer was unaware it was a fraudulent email at the time and by the time she figured it out it was too late, the money had been transferred. Since then, the police have been contacted and a police report has been filed.

Here are steps recommended to avoid or prevent fraud:
  1. Make sure you have well documented procedures and processes for money disbursement.
  2. Establish clear lines of communication between your board members.
  3. Know your budget well. The best indicator of a potential fraudulent activity is a request that is made for something outside of your PTAs member-approved budget.
  4. Make sure your board of directors is well trained.
If they have already wire transferred the money this is what we recommend for the next steps:
  1. File police report keep duplicate copies for your records.
  2. Close bank account.
  3. Call your PTA's insurance provider.
  4. Do a mid-year Financial Review (see the Question of the Week below).
  5. Call a special general membership meeting.

As we head into the home stretch of the holiday shopping season, how worried are you about having your identity stolen? PEMCO Insurance, one of our trusted partners, recently asked Northwest people and you might be surprised by the results. For more information on the poll and tips on how to protect your identity, click here.
Is it necessary for our PTA to conduct a mid-year financial review, even if we have never had a problem with financial reviews in the past?

While a financial review is required immediately following the end of the fiscal year (June 30), when another PTA member assumes the treasurer position, or whenever there is a question about the financial well-being of a PTA, a mid-year financial review is strongly recommended for all PTAs. A mid-year review helps to assure that the funds of the PTA are being administered properly and that good financial practices are being followed.

The mid-year financial review should be conducted in the same manner as the review held at the end of the fiscal year. The financial review committee must consist of no less than three members of the PTA. Members of the review committee must not have signature privileges on PTA documents during the period being reviewed. The treasurer is not to be physically present when the committee meets, but should be available by phone to answer questions.

The treasurer should gather all the financial records for delivery to the financial review committee. A list of financial records for the review can be found in Treasurer's Handbook. For additional resources, visit the Finance Resources page, on the WSPTA website.

After the financial review committee examines the records, the committee is to present a written report of their conclusions to the board of directors. As always, the WSPTA staff is here to help. If you have questions about the review, contact Tatia, Local PTA Support:

Thank you for making sure your officers and members
have what they need; it is appreciated!

Kathryn Hobbs
Executive Director
Email your questions here.

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