Taxes, are they done? Hopefully, for our units with a fiscal year ending June 30th, you have completed and filed your federal, state, and RRF-1 with a CT-TR-1 or 990 attachment by the November 15th deadline. Even though we are a tax-exempt 501(c) 3 we still need to make sure we file on time. If you have not filed yet, please contact your council treasurer or myself for help to get them filed as soon as possible. Next up is the insurance renewal.
Here is a link for renewing your insurance with AIM Insurance Management, Inc. if you still need to pay your insurance. Search for your unit using your California ID number, which can be found on the cover of your bylaws. It is recommended to complete the renewal form online. Once you have submitted the renewal form, AIM will send you an invoice, usually within a few hours. To pay the invoice, you will need your bank routing number and account number. Be sure to complete the ACH Payment Authorization form so that you meet the two-signature requirements for all payments and attach the invoice to it. Don’t wait and then forget in the holiday rush. Thank you to all the units that have already paid their insurance.
Did you know that you should never make a cash withdrawal from your PTA account?
A cash withdrawal violates the requirement for two signatures. If you need start-up cash for a cash box, write a check to the person who will set up the cash box with the memo line of “start-up cash for the cash box.” At the end of the event, be sure to complete two cash verification forms: one for the start-up cash and one for the income from the event. Redeposit the start-up money separately to show that the money was returned to the account. It may sound like extra work, but it protects you and the rest of the board.
