Video instructions and help with filling out and completing Why Form 8815 Audit

Instructions and Help about Why Form 8815 Audit

PTA audit procedures require the use of PTAs audit checklist and audit report form to download these forms from the California State PTA website go to WWC a PTA org click on the PTA leaders tab drop-down to run your PTA and click forms use a separate audit checklist and audit report form for each PTA bank account to be audited audit each PTA bank accounts separately start by ensuring that all of the items in the description section of the audit checklist have been handed over for audit check them off one by one including the employment forms if required immediately contact the appropriate officer usually the treasurer secretary or president and request any missing items if all items have been provided check yes otherwise check no next audit the beginning balance for this accounting period check the balance of the previous audit report and compare it to the beginning balances of the first bank statement for this accounting period then compare it to the ledger and the checkbook register then compare it to the first treasurer's report for this accounting period if these beginning balances all agree check yes otherwise check no next audits the bank statements verify that each of the bank statements was opened and reviewed using PTAs 5-minute audit by an elected officer who is not authorized to sign checks look for the officers signature or initials then verify that each statement was reconciled by the treasurer if each of the bank statements was properly opened and reviewed and reconciled check yes otherwise check no check the balance of the last bank statement and verify that it matches the ending balance of the checkbook register ledger and last treasurer's report if these ending balances all agree check yes otherwise check no verify that each deposit and check that appear on bank statements matched deposit and check entries in the checkbook register ledger and treasurer's report check yes or no verify that any bank charges or interest recorded on bank statements are also recorded in the checkbook register ledger and treasurer's reports check yes or no next audit membership and dues remittance count the number of members recorded on all cash verification forms then count the number of members recorded on all unit remittance forms then count the number of members reported in all treasurer's reports all three counts should match record the number of members on the audit checklist then refer to unit bylaws and record the amount of per capita membership dues and the amount of per capita membership dues to be forwarded to Council or district PTAs if membership count and dues remittance are correct check yes otherwise check no next verify payment of PTAs insurance premium verify that payment of the insurance premium was recorded on a unit remittance form and as an expense in the ledger checkbook register and in a treasurer's report check yes or no next audit board in association minutes for payment authorization verify that the executive board and association members have approved all payments compare payment authorization forms to board and association meeting minutes check yes or no verify that all committee reports including any motions to approve committee plans and expenditures have been recorded in association and board meeting minutes check yes or no next audit payment authorization forms verify that the payment amount on each payment authorization form matches the attached receipts invoices and bills and the amount written on the payment check and the amount approved in meeting minutes check yes or no next audit income and cash verification forms verify that every cash verification form has a corresponding deposit slip that matches a deposit recorded in the treasurer's report ledger and checkbook register verify that each cash verification form is signed by at least two money counters verify that designated income is spent as specified in the budget check yes or no under the income section of the audit checklist next audit financial reports verify that committee reports financial secretary reports and treasurer reports are filed regularly and agree with the ledger and checkbook register check yes or no next verify that the required government forms have been filed annually these forms include the IRS Form 990 990-ez or 990-n the California State Franchise Tax Board form 199 or 199 n and the registry of Charitable Trusts form our rf1 check the appropriate box on the audit form to verify that all required forms have been filed if all applicable forms have been filed check yes otherwise check no next verify that the audit report checklist and recommendations are presented to the Executive Board semi-annually verify that the audit report form is presented to the Association members for adoption and verified that a copy of the audit report checklist and recommendations are forwarded to the next level of PTA check yes or no next use the audit checklist to create a list of recommendations for the Executive Board all no answers on the audit checklist should be included in the list meet with the president and financial officers and discuss the recommendations and any necessary errors or Corrections after any errors have been corrected by the finance officers or other appropriate board member and all accounts are accurate draw a double line in red ink on all records where the audit concludes then sign and date the audit forms if at any time is management of PTA funds or assets is suspected immediately contact the PTA president for assistance