Music Parents Association » Treasury

Treasury

 
Treasury Transaction Guidelines
*Tax Exempt Policy Adopted 4/2015
*Transaction Request Form updated 7/2015
*Student Account Policy added 11/2011
*Gifts to Volunteer Policy added 5/2014
Deposits
 
  • Make sure all checks are made payable to "Beavercreek Music Parents Association" or BMPA. Any checks made payable to Beavercreek City Schools or other groups will be returned.
  • The memo line of checks should be used to note which BMPA group (Band & Color Guard, Beaverettes, Choir, or Friends) is receiving the deposited funds.
  • Please provide a summary sheet that lists all checks received and provides subtotals for checks and cash. A sample Excel file is available from the Treasurer.
  • Make a separate deposit request for credit card charges. These charges are handled by our credit processor and show up as a separate deposit into the BMPA checking account. It is easier to reconcile our account if credit card charges are not included with cash and check deposit requests.
 
Payment Requests
 
  • Payment requests for expenses associated with the music groups must be signed by the director. For BMPA fundraisers (Concessions, E-books, Fruit Sale), the requests can be signed by BMPA officers or chairpersons. Payment requests can not be signed by the payee (with the exception of the music group directors).
  • Provide a separate request for each payee.
  • Members should notify vendors that the BMPA is a tax-exempt organization when making purchases. The Treasurer can provide a blanket certificate of exemption. Special accounts have been established at Sam's, Wal-Mart, GFS, Office Depot, Office Max, Staples, and Lowe's.
  • Members requesting reimbursement must have receipts for their expenses. Copies of the actual register receipts are required, not credit card statements, etc. They should provide a summary sheet if they have multiple receipts.
  • If advance payment is required by a vendor, they should create an invoice detailing the services rendered or items being purchased.
  • For payments to vendors, invoices should always be attached to payment requests, not statements.
  • For payments to individuals for services rendered (IRS Form1099 Reportable Payments) such as choreographers, music arrangers, instructional staff, labor (including sewing), etc., two items are required
    • An invoice detailing the services provided. If the individuals do not have an invoice form, the BMPA Treasurer can provide a template to them. An invoice should be provided with every payment request.
    • A W-9 form (IRS Form W-9 or BMPA equivalent form). A new form is required the first time an individual is paid each calendar year, or if their address changes. Payments to individuals are reported if their total equals or exceeds $600.00 for the calendar year.
 
Special Events
 
  • If the group director wants to give authority for payment requests to a special event director (Show Choir Classic, Weekend of Jazz, etc.), the
  • Treasurer must be notified in writing.
    A budget for expected expenditures and/or authority for requests not to exceed a specified amount should accompany the request.
 
NSF Checks
  • The Treasurer will debit the appropriate group fund for the returned check amount.
  • This group will also be charged the NSF fee (currently $12.50) that is included in the following month's checking service charges.
  • The Treasurer will notify the appropriate director of the charges.
  • After checking with the paying bank for adequate funds, the Treasurer will deposit the check again. If there are still insufficient funds, the check will be returned to the appropriate director.
  • The Treasurer will invoice the individual for the original check amount and/or the NSF fee. The invoice will be forwarded to the appropriate director for collection.