13 Questions to Ask the Outgoing Treasurer of Your School or Parent Group

Taking over as treasurer for your school PTO, PTA, or booster club? One of the smartest things you can do is to schedule a meeting with the outgoing treasurer. Whether you’re brand new to nonprofit finances or stepping into a familiar role, a thoughtful handoff conversation can prevent confusion and set you up for success.

Here are 13 key questions to ask during a treasurer transition. From understanding your group’s current financial health to learning how reports are handled and what deadlines to track, these treasurer handoff questions will help you step confidently into your new role. 

Overall financial health

1. What’s the current state of our finances?

Ask about current bank balances, outstanding bills, and any unusual situations like bounced checks or pending reimbursements. This gives you a quick snapshot of where things stand financially and lets you know if anything needs attention immediately.

2. Are we on track for our budget this year?

Find out how actual income compares to what was budgeted and whether any expense categories are significantly over or under. Ask about any mid-year adjustments and what the year-end position looks like. If possible, have the outgoing treasurer walk you through the budget and explain any seasonal patterns.

3. Are there any commitments that were made that I need to honor?

The outgoing treasurer may have promised payments, signed vendor agreements, or earmarked funds for specific projects that you’ll need to follow through on.

Tools, processes, and handoffs

4. What software or tools are we using to track finances?

Getting up to speed on your organization’s financial tools will save you a lot of time down the road. Many parent groups and booster clubs use specialized software like MoneyMinder, which is designed specifically for nonprofits and doesn’t require accounting experience. Other groups might use spreadsheets, QuickBooks, or even paper records.

Make sure you understand the current system and how to access it. Have the outgoing treasurer show you how to enter transactions and generate reports.

5. How are bank statements and reconciliations handled?

This is one of your most important tasks, ideally done monthly. Find out where records are kept, how discrepancies get handled, and whether statements come electronically or by mail. Try to do a reconciliation together during the transition.

6. Where are physical and digital records kept?

Make sure you know where to find checkbooks, deposit slips, and receipt books, as well as important documents like tax filings, audit reports, and bylaws. For digital records, make sure you have the right login credentials to files, emails, and online banking.

Banking and access

7. Who are the authorized signers on our accounts?

You need to know who can currently approve transactions and write checks. Get their contact info and start the process of adding yourself as a signer (and possibly removing the outgoing treasurer). Check with your bank about requirements and timing.

Taxes and compliance

8. When are our major reporting deadlines?

Nonprofits have various reporting obligations throughout the year. Make sure you understand when IRS 990, 990-EZ, or 990-N filings are due, along with any state reporting deadlines. 

9. Have we filed everything correctly this year?

Find out if all required filings are complete or if there are outstanding issues. If you’re behind on anything, make it a priority and don’t hesitate to get professional help. Staying compliant is extremely important, so it’s worth seeking professional help if you need it.

10. Do we have an annual audit?

If your organization requires an annual audit, make sure you understand the process and timeline. Ask who conducts the audit, when it typically happens, and what your role will be during the process.

Group norms and general wisdom

11. Who needs to approve spending?

Know the dollar amounts that require board approval, who can authorize different expenses, and how reimbursements work. Ask about the process for emergency expenses, too.

12. What are the biggest treasurer pitfalls to avoid?

Learning from someone else’s experience can save you time and stress. Ask the outgoing treasurer to share any challenges they faced and how they handled them. Mistakes like falling behind on bank reconciliations, missing deadlines, or communication mishaps are more common than you might think.

13. Is there anything you wish you had done differently?

This often yields the best insights. Maybe there are process improvements to make or technology upgrades that would help. Take notes—these might become improvements you pass on to your successor.

What to do if the outgoing treasurer isn’t available

If the previous treasurer isn’t around, don’t panic! Contact your bank for account access and recent statements. Review existing financial records and your bylaws for guidance. Other board members might have helpful knowledge, and you can get professional help for complex issues. 

Setting yourself up for success

A good transition is just the start. Throughout your term, make it a goal to establish regular routines for reconciliations and reports, and keep detailed records. It’ll make things easier for you when it’s time to wrap up your term, and future treasurers will thank you. Don’t hesitate to ask questions along the way. Bank reps, software support, and fellow board members are all there to help you succeed.