Annual Audit

An annual audit is a requirement of the IRS for all 501(c)(3) organizations and why it is included in all bylaws. Per the Virginia PTA bylaws, audits are required to be completed at the end of your fiscal year. For most units this date is June 30th.

Change in Treasurer: If there is a change in treasurer at any time other than at the end of a fiscal year, an audit must be done.

The Audit Committee
The Audit Committee must be a committee of at least 3. Members of the committee cannot have signature authority on the checking account at the time of the audit. An incoming treasurer would be an excellent member of the committee, providing an opportunity to understand the audit process and how to keep accurate and lawful records.

What You Need
The committee needs the checkbook, bank statements, treasurer's reports, receipts and vouchers in order to complete an audit. An Audit Checklist and Audit Form are available in Membership Library Forms section. The forms are easy to use and available in hardcopy and electronic versions. Forms are also available on the Local Unit Resource Guide (LURG) CD mailed to all local unit presidents.

Where to File
The annual audit is to be kept in the local unit treasurer's records and submitted to the state office. An annual audit must be on file in the state office before a local unit can request Virginia Sales Tax exemption.

Questions?
Contact the Virginia PTA Treasurer at treasurer@vapta.org or contact the state office at info@vapta.org