A PA/PTA’s budget is a guideline of how the organization will receive and spend its money. It is composed of two parts: income and expenses. In May or June, a PA/PTA, in accordance with its bylaws, should devise a proposed budget for the upcoming year and present it to the general membership for a vote. In many cases, the PA/PTA’s estimated income for the upcoming year is based on the actual income from the current year. If the PA/PTA plans to include a new event, it may need to make an educated estimate and adjust the appropriate line of the budget as it gathers more information. The income section should contain ALL means by which the PA/PTA receives income, and each mean should have its own budget line, (including each fundraiser and each grant). Expenses for the upcoming year are estimated based on actual expenses from the current year. The cost of a new expense item may need to be adjusted as the PA/PTA gathers more information. The expense section, too, must contain ALL of the PA/PTAs expenses, with each type of expense having its own budget line.
CR A-660 contains specific rules regarding PA/PTAs’ budgets. Among other requirements, it mandates that a PA/PTA establish a budget process in its bylaws which meets the minimum requirements in DOE’s PA/PTA Bylaws Template. It also requires that the PA/PTA’s executive board submit its proposed budget for the following school year to the general membership for approval no later than the June general meeting. Once approved by the general membership, it must be submitted to the principal.