How to Count Money & Prepare for Deposit by PTA

“How do I count PTA money and get it to the right person for deposit?”

pta_moneyI’m so glad you asked!  Below are the procedures for counting money and preparing it for the PTA Financial Secretary.

“I just received a single check – I want to just put the check in your box and go get my kid already? Do I really need to do all this?”

A: Yes.  But I guarantee that with only one item to count, the counting will go very quickly.

“Ok, so where do I start?”

Counting Money is a three part process!

College Park Elementary PTA procedure
for handling money after an event or activity

This Counting Money Procedure document is also available as a PDF for download and printing.

Before you begin: Notify the Financial Secretary via phone/text (see print-out next to safe or ask College Park Elementary Receptionist for phone #) or email at financialsec@collegeparkpta.org the dates you will be counting money. You don’t need to wait for them, but this gives them an idea of when to expect a deposit. You may also contact them with any questions on these procedures.

Part I: 1st Preliminary Count

  1. Money must be counted on school grounds, not taken home.
  2. This is your first count of money given for an activity (2 or more people, must be present before any envelopes are opened and/or money is counted, and one must be an Executive Board member)
  3. Open donation/order from students and verify that the amount included matches the amount stated on the form. If the amount given is incorrect the Executive Board Member contacts the parents regarding the discrepancy.
  4. The check must have on the Memo Field: Student name, Teacher and Activity.
  5. The check must be written to College Park Elementary PTA or College Park PTA.  If the check is written to ‘College Park School’ or ‘PTA’ or ‘College Park’ we will NOT be able to deposit it.
  6. An example of Membership: You open the application, check to make sure the check or cash given matches the application amount.   If everything is o.k., place the money in a pile.

Part II: 2nd Submitting Funds for Deposit

  1. Money must be counted on school grounds, not taken home.
  2. Count money from the preliminary count (2 or more people, one must be an Executive Board member). These may be the same people involved in the Preliminary Count.
  3. Use the Cash Verification Form (Blue in color found in Hot Room Desk) to total the money to be deposited.  Also available for download.
  4. In addition to the Cash Verification Form, you’ll need a printing calculator to print a tape (in Hot Room Desk).  If you don’t have a printing calculator, you may use an excel spreadsheet or other method but you must generate a printed copy to submit with your form.  This is a bank requirement.

Counter Begins:

  1. Put the currency in order by amount. Count the currency, and fill out the currency section of the Cash Verification Form.
  2. Count the Change, separating each type of coin. If you have enough change, obtain coin wrappers (located in Hot Room 
Desk or ask Financial Secretary or ask your/PTA Bank). Wrap as appropriate.
  3. List the checks on the Cash Verification Form and run a calculator tape. Make sure you keep the checks in the order they are 
listed on the form and the calculator tape.
  4. Complete the Cash Verification Form, making sure that the total on the form is equal to the amount on your calculator tape. 
If it is not, rectify. Paperclip (DO NOT STAPLE) the calculator tape and Checks Slip (if used) to the Cash Verification Form. Then, print your 
name and sign the Cash Verification Form. (Do not staple as the forms will be scanned and staples will have to be removed)
  5. Give to the Verifier.

Verifier Begins:

  1. Repeat steps 1 to 4 above under Counter Begins.
  2. What do I do if the totals are not accurate?
    1. If the totals are not accurate and changes can be made easily, make the change and initial the area of the change. Then have the First Verifier confirm the change by counting that item again and initial your change.
    2. If the change is not easily made, you must use a new form and have the Counter re-check and sign the new form.
    3. NOTE: When using the computer generated Check amounts the check amounts cannot be rewritten. The form 
needs to be reprinted.
  3. Print and sign your name on the Cash Verification.
  4. Make a copy of the Cash Verification Form for the Committee Chair’s records.
  5. Paperclip the calculator slip and Check Slip Form to the Cash Verification Form.
  6. Wrap the Cash Verification Form around the money and place inside a Gray office folder that is marked PTA Deposit 
(found in Hot Room Desk). Write the activity on the envelope. You may place more than 1 Cash Verification Form in an envelope. Fasten the envelope and ask School Secretary to open the safe. Sign the safe deposit log and let the Financial Secretary know that there is money to deposit in the safe via phone/text or email at financialsec@collegeparkpta.org

Part III: Financial Secretary Verifies the Counted Money

The Financial Secretary will re-count the money to verify your totals. They will sign the Form and deposit the money in the bank. Once deposited, they will give you a copy of the Cash Verification Form by email with the deposit receipt. Keep with your committee files.

If you have any questions, ask the Financial Secretary BEFORE leaving your deposit in the safe.