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                  TO:  Interested PTOs                                                                                                            FROM: Jim Bramer, Retired Auditor-CPA
                                                                                                                                                                      FILE:  1101-02/all

                  RE:  PTO Sample Financial Statement via QBooks                                                      Originated in October 2002

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   Below is a hypothetical Online Email thread (THRD) between  Jim@bcidot.org   and one of the these Ministry MFTeam members: PAT (Ministry Executive), LEE (Ministry Volunteer Treasurer), and FRAN (Ministry Computer Bookkeeper).  Please  Click here and go to List of threads (THRDs) on Ministry Finance topics at www.bcidot.org

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From:  Fran -

    I am a Treasurer of a PTO  (Parent Teachers Organization),  which is an alternative to what many of us old timers knew as the PTA.  Generally,  we are primarily parent-run groups in/around schools  (many of which are Christian Schools)  where our children attend.  The majority of our efforts involve raising money to meet a variety of projects not funded by the School itself.  Please go to the www.ptotoday.com  web site for more PTO perspective.      

From:   Jim@bcidot.org

    Thank you for this reference.  I surfed the  www.ptotoday.com  web site and find it interesting that the emphasis for the month of October 2002 has to do with the mis-use of PTO money.

From: Fran  --

        Yes, that is a concern for all PTOs, but that is not the reason I contacted you. 
        Do you have any PTO financial statement samples? 
        Especially that report on funds we raise and their direct costs - like buying something for a $1.00 and selling it for $9.99, etc.  PTOs like us need to make known the anticipated sources and Board authorized uses of such money.  I guess you would call it a "Budget," although most people usually think of a "Budget" as an advance authorization of expenditures only ---- not so much information about how the money is to come in.
        Anyway, do you have anything tailored for PTOs,  Jim?

From: Jim         

          Yes -- the information below flowed from an inexpensive QB (QuickBooks) product that was obtained via a QB search at  www.eBay.com  (click here about some CAUTIONS)  that included a means to produce QB reports in an Excel format.  I am supposing you know that  when software products can export to Excel, it permits a GREAT deal of financial report personalization that seems to be needed in so many Ministry set of circumstances.  Please see below:

                          "PTO "Actual to Budget" Operating Statement for the Nine Months Ended March 31, 2002."

				Actual		Budget		$ Over Budget
		400 � Net via Fund Raisers
			410 � Fund Raiser #1 Receipts	$ 2,538		$ 3,000		$ (462)
			411 � Less - F-R #1 Direct Costs	$ (168)		$ (100)		$ (68)
			420 � Fund Raiser #2 Receipts	$ 915		$ 1,250		$ (335)
			421 � Less - F-R #2 Direct Costs	$ (370)		$ (250)		$ (120)
			450 � Auction Receipts	$ 2,369		$ 1,500		$ 869
			451 � Less - Auction Direct Costs	$ (50)		$ (25)		$ (25)
			460 � Scrip Store Sales	$ 12,054		$ 15,000		$ (2,946)
			461 � Less - Scrip Store Direct Costs	$ (11,210)		$ (13,254)		$ 2,044
		Total 400 � Net via Fund Raisers		$ 6,078		$ 7,121		$ (1,043)
		487 � Non Fund Raiser Income
			480 � Membership Dues Receipts	$ 975		$ 1,000		$ (25)
			490 � Cash Donations	$ 125
			498 � Interest Earned	$ 90
			499 � AllElse Receipts	$ 2
		Total 487 � Non Fund Raiser Income		$ 1,192		$ 1,000		$ 192
	Total			$ 7,270		$ 8,121		$ (851)
	Expenditures:
		500 � Project Expenditures
			501 � Project A Expend	$ 2,500		$ 2,500
			502 � Project B Expend	$ 3,000		$ 3,000
		Total 500 � Project Expenditures		$ 5,500		$ 5,500
		600 � Teacher-Student Expend
			603 � Teacher Use as needed	$ 845		$ 800		$ 45
			620 � Achievement Awards	$ 1,000		$ 1,000
			632 � Teacher Appreciation-Fall	$ 150		$ 250		$ (100)
			650 � Classroom Enhancement Costs	$ 565		$ 600		$ (35)
		Total 600 � Teacher-Student Expend		$ 2,560		$ 2,650		$ (90)
		700 � Admin Expenditures
			710 � Office Supplies & expense	$ 53		$ 50		$ 3
			735 � Postage Exp	$ 80		$ 75		$ 5
			799 � AllElse Adm Expenditures	$ 25
		Total 700 � Admin Expenditures		$ 158		$ 125		$ 33
	Total			$ 8,218		$ 8,275		$ (57)
(Excess) of Expenditures				$ (948)		$ (154)		$ (794)
		Available at Beginning of Year		$ 2,247
		Available Now		$ 1,299

 

From: Fran  --

        Ah ..... let me see if I understand.  The Sample report above was produced from Quick Books.  If I am not mistaken, Quick Books is a product of Intuit, who provides Quicken.  Many of us "Moms at Homes" use Quicken to do our personal books. As a matter of fact,  I have been using Quicken to do most of my PTO work to date, but have not been pleased with primarily the Budget part.
        But the above report has what I have been giving to the Board.

From: Jim         

          OK, let me take the use of QBooks a step further ....  note below in the sister PTO Photo or Balance Sheet report how the above $(948),  $ 2,247 and $ 1,299 (although in whole numbers) tie together.  By the way ---- no way do you need to use the current editions of www.quickbooks.com  ---  simply go to www.ebay.com  and inexpensively acquire older editions like QBPro2003 as new software which would meet all of your needs.

                                       "PTO "Photo Statement" or Balance Sheet as of March 31, 2002"
.

Assets:
		Checking/Savings
				101 � Checking Account	$ 18.69
				102 � Savings Acct	$ 1,000.00
				103 � Petty Cash	$ 50.00
				127 � Scrip Store Inventory	$ 230.00
			Total		$ 1,298.69
		149 � Furn and Equipment
			140 � PTO Owned Furn-Equipment		$ 965.87
			147 � PTO Furn & Equipt Offset		$ (965.87)
		Memo Info Only			$ -
Total					$ 1,298.69
Fund Balances:
			301 � 07-31-01 Prior Year Surplus		$ 1,258.96
			350 � F-Raise #9-Prior Year carry fwd		$ 987.63
		Total 399 � Fund Bal at 1st of Year			$ 2,246.59
		(Excess) Expenditures for this Year to Date			$ (947.90)
Total					$ 1,298.69

From: Fran  --

            I do not feel real good about learning how to use another piece of software, but perhaps it is something I should consider. 
           The above looks great !!  
           Are you saying that the two reports as they appear above come directly from Quick Books?

From: Jim 
     
        Basically "Yes" --- 98% of these Samples were originated in QB and then exported to Excel.  These were memorized so that the QB report structure remains the same and is easily updated when you change the date. Then I took five or ten minutes to personalize the Excel docs for better understanding by applicable PTO people before I moved them here.
         Fran, if what you are doing fundamentally meets the needs, then you probably want to continue on.  Mainly I wanted you-all to know that new Treasurers, in particular, have another possible option or tool, etc.

From: Fran  --

         Thanks again.  Anything else?

From: Jim 

        Yes,  I trust you are using the Forum resources at  www.ptotoday.com  as you learn from one another.  Be sure you click here and read Christy Forhan's  excellent article on  "PTO Budgets.". Please also  click here   and go to a link that allows you to access her VERY special  "Critter PTO Forms."    I trust our additional link contents below are helpful.   ..

Name				Location:
Looking Over Your Shoulder				0130
QB Hands On				0079
Tax Deductible-Use of own Computer				0092

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      The bulk of this Publication originated in October 2002 and was  .  UPTD: March 09, 2012

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      (1) An Online Document, or WRIT (Writing), may be applicable to all Ministries, or it may be designed for just groups like: Evangelical Church, School, Missionary Agency or Organization, Christian Camp / Conference, or other named group.
        (2) WRIT formats include the perspective of  Jim@bcidot.org   via IOMs (Inter-Office Memos) to the Ministry Finance Team (MFTeam); THRDs, or a hypothetical Online conversation (thread) with members of a MFTeam; FWIW; A periodic editorial (For What it is Worth); TRUISM, or believed Ministry Finance principles; or via a FAQ, or a response to Frequently Asked Questions. 

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