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PREPARING A BUDGET:  BUDGET'S NEED TO BE APPROVED BY YOUR PTA EXECUTIVE BOARD AND THEN PRESENTED TO THE GENERAL MEMBERSHIP FOR APPROVAL.  EXAMPLES OF BUDGETS, FINANCIAL REVIEW OR AUDIT INSTRUCTIONS AND 990 INFORMATION ARE TO THE LEFT. THIS INFORMATION WILL BE INCLUDED IN THE STANDARDS OF AFFILIATION CHECKLIST BELOW.  
How to stay in Good Standing(Standards of Affiliation)
Annual Audit & Tax Filing
Our local Virginia Beach PTA's and all Virginia PTA's are 501(c)(3) non-profit entities covered under the Virginia PTA.  The benefit of this is it allows our unit to earn money tax-free so more funds go to our kids and schools.  Donations are tax exempt and units may apply for a Virginia Sales Tax Exemption.  The fiduciary responsibility of your PTA should be the whole of the board but the Treasurer is a very important part of the health of the PTA's Finance's. 
CLICK HERE FOR YOUR VIRGINIA PTA UNIT CHECKLIST→ 
The Virginia PTA hold's a status of 501(c)3 which allows for many exemptions is important aspect of the Virginia Beach PTA.  You will need the seven following items to stay in "Good Standing" with the Virginia PTA annually to be provided to the Virginia PTA.