Year-End Audit

As specified in the Bylaws, all PTAs must have a complete financial audit conducted on a semi-annual basis. Since the fiscal year runs from July 1 to June 30, this means all PTAs should have their year-end audits complete prior to the first unit board meeting. This Year-End Audit is for the time period January 1, 2015 through June 30, 2016.  The completed audit must be adopted by the association at a general meeting by way of motion; and the adoption date must be indicated on the audit.

During the audit process, the auditor prepares an audit report for each account. The report should include:

  • Beginning balance (ending balance from last audit), all expenditures, all deposits, outstanding checks, outstanding deposits, and an ending balance.
  • A statement at the bottom of the report (See statement in the Toolkit).
    The auditor should sign the report.
  • Attach any recommendations to the report. List errors in arithmetic or posting. List unpaid bills, payments authorized but not paid.
  • Request that the audit report be formally adopted with a motion: “I move that the audit report be adopted,” and that the action be recorded in the association minutes.
  • Have the secretary attach a signed copy of the audit to the minutes.

If assistance is needed, contact SVPTA Council Auditor, Colleen Logomasini at

In any question of mismanagement of funds, assistance should be sought immediately from the SVPTA Council President Do not make any implicit, explicit written or verbal statement or accusations. Such actions could result in a lawsuit for libel or slander.

The completed, adopted audit report is then forwarded to the council auditor.

All forms can be found under the Financial Tab, under the Financial Forms Tab.